Pidilite Industries stock adds a footwear adhesives partnership

Published on 09/28/2026 at 13:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Pidilite Industries stock traded at INR 1,503.00 on September 28, 2026, down 0.94 percent. Q1 FY27 revenue reached INR 45.5 billion, ahead of INR 44.3 billion estimates.

Pidilite, INE318A01026, Illustration mit AI erstellt.

Pidilite Industries stock was last at INR 1,503.00 on the NSE on September 28, 2026 at 3:14 p.m. IST, down 0.94 percent from the prior close of INR 1,517.20. The day's market move came as ScanX News reported a new partnership with Hwaseung Chemical for advanced footwear adhesives in India.

Footwear adhesives widen the portfolio

The September 28, 2026 partnership brings South Korean bonding technologies to Indian footwear manufacturers. The products are described as low-VOC and non-flammable, with compliance references including REACH, Prop 65, the U.S. Clean Air Act, ISO 14001 and RoHS.

The commercial logic is clear: Pidilite adds a specialized industrial adhesive category while using its established domestic distribution network. The partnership therefore broadens the potential mix beyond the company's established consumer and construction chemical businesses, although the announcement does not quantify revenue or earnings from the initiative.

Q1 revenue beat the estimate

Pidilite's latest reported quarter was Q1 FY27, ended June 30, 2026. In its August 5, 2026 research summary, DSIJ said consolidated revenue grew 21 percent year over year to INR 45.5 billion, ahead of the INR 44.3 billion Motilal Oswal Financial Services estimate.

The same report put adjusted PAT at INR 8.6 billion against an INR 7.7 billion estimate, while EBITDA margin reached 26.2 percent versus 24.4 percent expected. The comparison points to earnings conversion as the more important test for the new footwear initiative than the partnership announcement alone.

Stock remains below its yearly high

Pidilite's September 28, 2026 intraday range was INR 1,486.80 to INR 1,508.00, and the stock was 11.98 percent below its 52-week high of INR 1,707.50. Its market capitalization stood at INR 1.5 trillion, while volume reached 585,734 shares.

Valuation expectations remain elevated. Simply Wall St reported on September 3, 2026 that analysts raised a Pidilite price target from INR 1,915.00 to INR 2,065.00. For investors, the combination of Q1 execution, raw-material sensitivity and the scale-up of specialized adhesives defines the next evidence point.