Neutral Pidilite Industries Ltd for the Target Rs. 1,500 by Motilal Oswal Financial Services Ltd
* We expect that the company will maintain the double-digit growth trajectory. We model 12% revenue growth led by the volume growth of 12%.
* We expect gross margin to expand 70bp YoY to 55% on benign RM (VAM and crude oil) prices. EBITDA margin expected to up marginally by 10bp YoY to 23.8%.

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