New Delhi, May 11 -- Adhesives maker Pidilite Industries is protecting margins through staggered price hikes amid sharp input cost inflation triggered by the West Asia war.

In the first fortnight of April, it implemented a 4-5% hike, followed by another 5-7% increase in early May. Inflation in the company's weighted average raw material basket has surged 40-50%, led by the war.

Consumption cost of crude derivative vinyl acetate monomer (VAM) has jumped from $840 per tonne in the March quarter (Q4FY26) to $1,800 per tonne currently. While VAM accounted for less than 10% of Pidilite's raw material basket in FY26, the steep cost escalation could weigh on margins.

Even so, the company remains confident of sustaining Ebitda margins in the 2...