Mission Statement, Vision, & Core Values (2025) of Pidilite Industries Limited.

An Overview of Pidilite Industries Limited

General Overview of Pidilite Industries Limited

Founded in 1959, Pidilite Industries Limited is a leading manufacturer of adhesives, sealants, and various construction and art materials in India. The company is best known for its flagship product, Fevicol, which has become synonymous with adhesive products in the Indian market. Pidilite offers a diverse range of products that cater to diverse sectors including automotive, construction, and crafts.

As of 2024, Pidilite Industries reported consolidated sales of approximately ₹12,500 crore, marking a steady increase in revenue driven by robust demand across its product segments. The company exports to over 70 countries, enhancing its global footprint and contributing to its overall sales figures.

Company's Financial Performance in Latest Reporting Period

For the financial year ending March 2024, Pidilite Industries recorded an impressive revenue growth of 16% year-on-year, reaching a total revenue of ₹12,500 crore. The net profit for the same period stood at approximately ₹1,600 crore, reflecting a profit margin of 12.8%.

The standout performance was particularly evident in the adhesive segment, which contributed around 70% of the total revenue. The construction and automotive segments also saw growth, capitalizing on the booming infrastructure sector in India. Specifically, revenue from construction chemicals increased by 22% due to rising demand for innovative construction solutions.

Introduction to Pidilite as a Leader in the Industry

Pidilite Industries Limited is recognized as one of the leading companies in the adhesives and construction chemicals industry in India, distinguished by its continuous innovation and commitment to quality. The company not only leads in market share but also in the development of sustainable and eco-friendly products.

With strong brand recognition and a diversified portfolio, Pidilite's strategic investments in research and development have positioned it favorably within competitive markets. The company's adaptability to changing consumer preferences coupled with an expansive distribution network significantly bolsters its success in capturing market opportunities.

For those intrigued by Pidilite's robust performance and market leadership, further insights into its operational strategies and growth plans can enhance understanding of its success and future prospects.

Mission Statement of Pidilite Industries Limited

Mission Statement of Pidilite Industries Limited

Pidilite Industries Limited aims to provide innovative solutions in the Adhesives, Sealants, and Construction chemicals sectors. The company is committed to enriching the quality of life through its products, which play essential roles in various industries.

Core Component 1: Innovation

Innovation is at the heart of Pidilite's mission. The company focuses on developing products that meet the evolving needs of its customers. In FY2023, Pidilite invested ₹134 crore in research and development, reflecting a commitment to innovation that represents approximately 2.8% of its total revenue.

• In FY2023, Pidilite introduced over 30 new products tailored for different sectors.
• The company's flagship brand, Fevicol, continues to evolve with new formulations, enhancing usage in various applications.
• Pidilite holds over 900 patents globally, showcasing its leadership in innovative solutions.

Core Component 2: Quality

Quality assurance stands as a pillar of Pidilite’s mission statement. The company ensures that all its products meet stringent quality standards. As of 2023, Pidilite's products are exported to over 100 countries, with products that are certified by various international quality standards, including ISO 9001, ISO 14001, and OHSAS 18001.

Core Component 3: Customer Satisfaction

Customer satisfaction is a key focus for Pidilite. The company regularly engages in market research to understand customer needs and preferences. According to a recent survey, over 90% of Pidilite's customers reported satisfaction with product performance and reliability. This high satisfaction rate translates into consistent growth, with a sales revenue increase of approximately 12% year-over-year in FY2023.

• Pidilite's customer service team received over 10,000 inquiries in FY2023, resolving issues with a 97% satisfaction rate.
• Customers benefit from a comprehensive technical support service, which enhances their experience with the products.

Vision Statement of Pidilite Industries Limited

Vision Statement of Pidilite Industries Limited

As of 2024, Pidilite Industries Limited aims to be the leading provider of creative adhesive solutions and construction chemicals while enhancing the quality of life through innovation and sustainability. The vision encapsulates several key components:

Innovation and Market Leadership

Pidilite Industries is committed to maintaining its position as a leader in the adhesive and sealant market in India and globally. The company emphasizes innovation in product development, driven by research and development investments. In FY 2022-2023, Pidilite invested approximately ₹140 crores (about $17 million) in R&D, focusing on advanced materials and eco-friendly products.

Customer-Centric Approach

The company’s vision reflects a strong customer-centric approach, aiming to understand and respond to customer needs effectively. In 2023, Pidilite reported a customer satisfaction score of 89%, highlighting its dedication to quality service and product performance.

Sustainability Commitment

Pidilite's vision includes a robust commitment to sustainability. The company aims to reduce its carbon footprint by 30% by 2030, aligning its operations with global sustainability standards. In 2022, Pidilite achieved a reduction in energy consumption by 15% compared to the previous year.

Employee Engagement and Development

The company recognizes the importance of its workforce in achieving its vision. Pidilite Industries aims to foster an inclusive workplace environment, with a goal to increase employee engagement scores to 85% by 2025. Employee development programs have seen a participation rate of 70% across various training modules in 2023.

Global Expansion

Expanding its global footprint is a crucial aspect of Pidilite's vision. As of 2023, the company has a presence in over 70 countries. Pidilite reported a revenue contribution from international operations at approximately 20% of its total revenue of ₹11,000 crores (around $1.4 billion) in FY 2022-2023.

Financial Overview

The continuous improvement in financial metrics underscores Pidilite's strategic initiatives towards achieving its vision. The company's strong financial health supports its ambition to innovate and grow in the adhesive and construction chemicals sector.

Core Values of Pidilite Industries Limited

Integrity

Integrity stands at the forefront of Pidilite Industries' core values. It reflects the company's commitment to transparency, honesty, and ethical conduct in all business dealings.

In 2023, Pidilite maintained a solid reputation, evidenced by its high ranking in the India Corporate Governance Ratings. The company's adherence to ethical practices is further demonstrated through its comprehensive compliance programs, which include regular training sessions for employees on corporate governance and ethical standards.

• In 2022, Pidilite's whistleblower policy allowed over 15 anonymous reports to be filed, underscoring the effectiveness of their integrity commitment.
• The company achieved a 95% compliance rate in conducting audits and assessment processes in 2023.

Innovation

Innovation drives Pidilite Industries' growth, ensuring that the company stays ahead in the highly competitive adhesives and sealants market.

In FY 2023, Pidilite invested around ₹200 crores in research and development, focusing on creating eco-friendly and efficient products. Their launch of the new Fevicol Marine, specifically designed for marine applications, showcases their commitment to innovation.

Customer Centricity

Customer centricity is fundamental to Pidilite's business philosophy, emphasizing responsiveness to customer needs and fostering long-term relationships.

The company maintains a strong customer service framework, with over 1,000 service requests handled monthly. In 2023, their customer satisfaction surveys indicated an impressive 87% satisfaction rate among users of their flagship products.

• Pidilite has introduced Fevicol's 'Customer First' initiative, facilitating direct feedback through regular webinars and surveys.
• In FY 2023, 80% of the feedback received led to actionable changes in product development.

Sustainability

Sustainability is a core value that Pidilite Industries takes seriously, focusing on reducing environmental impact and promoting responsible sourcing.

In 2023, Pidilite set a target to reduce carbon emissions by 25% by 2025. The company has successfully implemented various sustainability initiatives:

• Over 40% of their manufacturing units are now powered by renewable energy sources.
• In 2022, Pidilite recycled approximately 12,000 tons of waste, which was a significant increase from 8,000 tons in 2021.

Collaboration

Collaboration within teams and with external partners is essential for Pidilite's operational success and value creation.

The company operates through various cross-functional teams, leading to enhanced project outcomes and innovation. In 2023, Pidilite reported a 30% increase in collaborative projects compared to the previous year.

• They partnered with over 200 construction firms to develop customized solutions that address specific market needs.
• The establishment of the Pidilite Innovation Council in 2022 has fostered over 50 collaborative projects aimed at sustainability and product efficiency.