Shares of Pidilite Industries Ltd were trading in the green and 1.5% higher on 6 September after the company announced signing a new distribution agreement with CollTech Group. 

As a result of this deal, Pidilite will be CollTech’s only distributor in India for its entire product line.

The collaboration intends to increase CollTech’s market share while fortifying Pidilite’s position in the nation’s electronics sector.

For the June quarter, the company posted a combined net profit of Rs 571 crore, a 21% year-on-year increase over the same period last year. Moreover, net sales increased by 4% YoY to Rs 3,384 crore.

The company said, “By leveraging the extensive distribution network and market knowledge of Pidilite Industries Ltd, CollTech aims to provide even greater value to its customers, ensuring consistent product availability and superior service in India.”

Earlier in August, Bharat Puri, the Managing Director of the company announced that they are aiming for a double-digit volume growth across its consumer and B2B segments. 

At 12:16 pm, the shares of Pidilite Industries were trading 0.68% higher at Rs 3,231.10 on NSE.

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