Pidilite Industries Limited has announced the completion of a strategic share swap transaction involving its wholly owned subsidiary, Pidilite Ventures Pvt. Ltd. (PVPL). The transaction involves the transfer of PVPL's entire shareholding in Pepperfry Limited to TCC Concept Ltd.

Transaction Structure and Details

The share swap arrangement was executed as part of TCC Concept Ltd.'s acquisition of shares in Pepperfry Limited. Through this 100% share swap deal, PVPL has divested its complete stake in the furniture and home decor e-commerce platform, acquiring a 2.20% equity stake in TCC Concept Ltd.

Regulatory Compliance and Structure

Pidilite Industries has clarified important regulatory aspects of the transaction. The company confirmed that this share swap deal was not classified as a related party transaction. Additionally, the promoter and promoter group of PVPL have no interest in TCC Concept Ltd., ensuring the arm's length nature of the transaction.

Parent Company Financial Performance

The transaction comes as Pidilite Industries reported strong financial performance in its recent quarterly results. The company posted an 8.20% year-on-year increase in consolidated net profit, rising to ₹584.60 crore compared with ₹540.30 crore in the same period last year.

The company's EBITDA increased 10.50% year-on-year to ₹850.00 crore, demonstrating operational efficiency improvements. The announcement was made through official communication to both BSE Limited and National Stock Exchange of India Limited, with the disclosure signed by Company Secretary Manisha Shetty, ensuring compliance with regulatory requirements under the listing obligations.

Pidilite Industries , a leading adhesives manufacturer, has announced significant changes in its Human Resources leadership. The company has appointed Mr. Ashish Prasad as the new Chief Human Resource Officer, following the resignation of Mr. Rahul Gama from the same position.

Leadership Transition Details

Mr. Gama, who submitted his resignation on November 11, 2025, will continue in his role until January 31, 2026, to ensure a smooth transition. He has decided to pursue new opportunities outside the organization.

New Appointment

Mr. Ashish Prasad, an IIM Ahmedabad graduate, brings over 28 years of experience in the building materials, consumer, and retail sectors to his new role at Pidilite Industries. His appointment, effective from November 14, 2025, was approved by the company's Nomination and Remuneration Committee.

Professional Background of Mr. Ashish Prasad

Mr. Prasad's extensive career includes notable positions at several prominent companies:

• Asian Paints
• Teamlease Services
• Holcim India-ACC
• Ashirvad Pipes
• Previous stint at Pidilite Industries
• Most recent role: Chief Executive Officer at Sintex BAPL (a Welspun group company)

This diverse experience in related industries positions Mr. Prasad well to contribute to Pidilite's human resource strategies and overall business growth.

The company expressed its gratitude to Mr. Gama for his contributions and wished him success in his future endeavors. Pidilite Industries looks forward to leveraging Mr. Prasad's expertise to further strengthen its human resource capabilities and support its strategic objectives.

These changes in the HR leadership are expected to bring fresh perspectives to Pidilite Industries' human resource management, potentially influencing the company's approach to talent acquisition, development, and retention strategies in the coming years.