Can tap into sunrise sectors via partnerships, says Pidilite MD Sudhanshu Vats

Pidilite's ability to create categories by identifying unserved and underserved consumer needs and fulfilling them, not just with a product but with a brand, has ensured its presence among the top quartile of growth companies over the past 5-10 years, said Bharat Puri, the chief executive, who will hand over the baton to joint managing director Sudhanshu Vats next month.

«Our success stems from an aggressive expansion of core businesses and, more importantly, our ability to pioneer new product categories,» said Puri. «We are an entrepreneurial-cum-professional company. Our success formula is simple-we create categories by identifying unserved and underserved consumer needs and fulfilling them, not just with a product, but with a brand.» As much as 80% of the company's business was in core categories until a decade ago, with only 20% focused on growth and pioneering initiatives, he said. «Today, that ratio stands at 55:45. Even in a challenging year, we delivered double-digit volume growth because we configured our portfolio around category creation.»

Vats said while the philosophy in running the business will remain consistent — focussing on core, growth and pioneer — his plan is to accelerate innovation and digital transformation while building on Puri's legacy.

The executives were speaking to ET in an interview.
«We have increased our innovation rate — our share of new products to total turnover — from mid-single digits to low double digits, and that journey will continue,» said Puri. Best known for adhesive