Shares of Pidilite Industries hit a six-month low of Rs 2,300, down 3.5% on the BSE in intraday trade on Wednesday, after the company reported a 14.3% year-on-year (PAT) decline in consolidated profit after tax (PAT) at Rs 308 crore on raw materials and Interest costs are higher.

Shares of the leading manufacturer of adhesives, sealants and construction chemicals company traded at their lowest since July 27, 2022. Over the past week, it has fallen 8%, compared with a 1% decline in the S&P BSE.

The company’s consolidated revenue increased 5% year-on-year to Rs 2,987 crore, led by the consumer and bazaar (C&B) segment. EBITDA margin declined 272 basis points YoY to 16.5% due to lower gross margin and higher employee expenses.