Pidilite: Sticking with India since 1959

Most people don’t think twice about the glue they use. You just need it to work and hold.

And maybe that’s why Pidilite has lasted too.

For more than sixty years, it has built trust across households, workshops, and entire industries.

Pidilite began operations in 1959.

Since then, it has grown quietly but steadily, becoming the largest player in India’s adhesives and sealants market.

Fevikwik, one of its most widely distributed products, is now present in over 3 million stores and has a household penetration rate above 65%.

The brand records more than 1.5 billion transactions annually, making it one of the most frequently purchased consumer products in its category.

Its presence today is expansive, spanning 68 manufacturing units, more than 1,300 product SKUs, and a portfolio of over 25 brands.

The company controls more than 70% of the domestic market and continues to build on that strength without dramatic shifts in identity.

It operates in a market that stood at $2.87 billion in 2024 and is expected to grow at a CAGR of 6.98% to reach $3.76 billion by 2028.

This growth is largely supported by sustained demand from the construction, furniture, packaging, and automotive sectors.

In each of these categories, Pidilite offers products suited to both mass consumption and industrial use.

A majority of its business, around 82% of revenue, comes from the Branded Consumer & Bazaar segment, which includes widely used products like Fevicol, Fevikwik, Dr. Fixit, Roff, and Araldite.

The remaining 17% comes from its B2B division, which supplies adhesives, resins, pigments, and chemicals for large-scale manufacturing and infrastructure projects.

Pidilite’s relationship with the unorganised furniture market has played a significant role in its dominance.

With nearly 85% of this sector made up of informal players, the company built long-term loyalty among carpenters, who often guide product choices at the ground level.

To support them, Pidilite launched Furniture Booklets - visual design guides that include detailed measurements, allowing for better planning, consistency, and output.

Such initiatives helped the brand maintain strong visibility and preference across both urban and rural India.

Internally, Pidilite segments its offerings into three categories based on growth expectations.

Core products, such as Fevicol and Fevikwik, are well-established and expected to grow at 1-2x times India’s GDP.

The Growth portfolio includes brands like Araldite and Roff, which are scaling rapidly and targeting 2-4x GDP growth.

Pioneer brands like Unofin and Haisha are in earlier stages but are expected to cross ₹100 crore in revenue within three years.

This approach has shifted the overall revenue mix.

A decade ago, around 80% of the company’s income came from its Core portfolio.

That number now stands at 52%, with the remaining 48% coming from the Growth and Pioneer segments.

This evolution reflects Pidilite’s intent to diversify its revenue base while staying close to its core strength.

In FY25, Pidilite reported revenue of ₹13,388 crore, a rise from ₹12,523 crore in FY24.

Net profit grew by 20% year-on-year to ₹2,096 crore. For Q4 FY25, profit came in at ₹428 crore, up 41% from the same quarter last year.

Quarterly income was ₹3,222 crore, marking a 9.2% increase year-on-year.

Rising raw material costs, especially a 5% increase in Vinyl Acetate Monomer prices, led to a 15.9% jump in input costs.

The extreme summer also impacted construction activity, temporarily reducing demand for adhesives and sealants.

Despite these short-term challenges, Pidilite’s long-term position remains stable.

It has built its business gradually, with a consistent strategy and careful expansion.

Its products may be simple, but the business behind them is anything but.

And that’s exactly why it continues to do well.

Sources:

DSIJ
Pidilite
Mordor Intelligence
Pidilite
Business Standard
Reuters