New Delhi, May 13 -- Pidilite Industries Ltd's March quarter (Q4FY25) makes one thing clear: volume growth is resilient and the momentum is being sustained by demand. Consolidated revenues grew 8.2% year-on-year to Rs.3,141 crore, backed by standalone underlying volume growth of 9.8% across categories and geographies. Volume growth is at a multi-quarter high.

Gross profit margin rose by 160 basis points (bps) to 55%, which is an 18-quarter high, according to data from Motilal Oswal Financial Services. Margin got support from benign input costs, especially vinyl acetate monomer (VAM), which averaged $880 a tonne in Q4, down from $925 a tonne last year.

However, year-on-year Ebitda margin expansion was smaller at 26 bps to 20.1%. In fact,...