External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.  

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Prabhudas Lilladher's research report onPidilite Industries We increase our FY25/26 EPS estimates by 2.0%/1.2% given strong volume outlook across pioneer and growth segments (45% of sales, includes waterproofing, construction chemicals etc), benign raw material prices and strong tailwinds from growth in both residential and commercial Real estate.</li><li>Low penetration and higher growth in Tier3/rural than urban, makes PIDI uniquely placed to gain from broad based upsurge in demand.</li><li>We believe margins have limited scope to increase given that GM is already above 53% (4Q exit), however 1H margin outlook remain strong.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Prabhudas Lilladher's research report onPidilite Industries We increase our FY25/26 EPS estimates by 2.0%/1.2% given strong volume outlook across pioneer and growth segments (45% of sales, includes waterproofing, construction chemicals etc), benign raw material prices and strong tailwinds from growth in both residential and commercial Real estate.Low penetration and higher growth in Tier3/rural than urban, makes PIDI uniquely placed to gain from broad based upsurge in demand.We believe margins have limited scope to increase given that GM is already above 53% (4Q exit), however 1H margin outlook remain strong.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pidilite Industries (PIDI IN) - Strong Growth Visibility but Steep Valuations