Pidilite Industries Limited

“Pidilite is a rare, durable compounder with a brand-and-influencer moat that has taken 60 years to build, a 35% ROCE business model, and a decade of runway in underpenetrated Indian construction chemicals — but at 60x trailing earnings the market has already priced in excellence, leaving a base-case 10-year return of only 12–14% CAGR with virtually no margin of safety; the business deserves deep respect and a place on every long-term watchlist, but patient investors should wait for a 20–25% correction before establishing a position.”