Pidilite sees steady Q2 demand, sees no immediate price hike
In short
Pidilite Industries says demand in the second quarter is holding up well and it does not plan a new price hike right now. The company had raised prices by up to 12% in the June quarter after crude prices jumped because of the West Asia crisis.
This matters because higher prices can affect customers and sales. The company says July and August demand looks similar to June, but it has not said what it will do later.
What the reporting says
Pidilite Industries said Q2 demand is holding steady and it does not see an immediate need for fresh price increases, according to Managing Director Sudhanshu Vats. The company had raised prices by up to 12% in tranches in the June quarter to offset a crude-price spike linked to the West Asia crisis, and now says demand trends in July and August are broadly in line with June. The exact timing and scale of any future pricing action remain unknown.
Why it matters
Pidilite Industries said consumer demand is staying resilient in the current quarter and that it does not need another price increase immediately. Managing Director Sudhanshu Vats linked the earlier June-quarter price rises of up to 12% to higher crude costs from the West Asia crisis. The company now sees July and August demand broadly matching June, but it did not give a forecast for later pricing or raw-material costs.