Pidilite Industries has reported a year-on-year volume growth of 8% in Q2, with consolidated revenue growth slightly lower at 5% YoY. The company's performance was boosted by improved realizations, while B2B business volumes saw a significant increase of 21% YoY.

Rural demand has outperformed urban demand, contributing to the overall growth. The outlook for the upcoming quarters is positive, with expectations that the volume and value gap will narrow in Q3 and Q4. Falling VAM prices have also helped expand margins, although valuations remain high, trading at 66 times FY26 earnings. The medium-term triggers include the China plus strategy and protectionist measures impacting the tire industry.

Pidilite's current market capitalization is ₹1,61,094 crores, with a current market price of ₹3,168.