MUMBAI : Pidilite Industries Ltd’s revenue growth in Q4 slipped, reflecting the huge impact of the pandemic-induced lockdown on home improvement activities.
While shares of Pidilite have held steady for most of 2020, the stock was down about 3% in in early deals as investors were surprised by the loss in revenues and the sharp fall in profitability.The 5.8% year-on-year (y-o-y) drop in revenue in Q4 was the first such negative growth in many quarters, unveiling the extent of severity of the lockdown on the company.
In the previous two quarters, Pidilite reported low single-digit growth. Sales of the consumer bazaar and industrial divisions slid 6.1% and 3% y-o-y respectively.The black-swan impact of the long lockdown seems to have taken a.