Pidilite Industries reported a better-than-expected Q3 earnings, beating street estimates. Earnings before interest, tax, depreciation and amortisation (EBITDA) margins were at multi-quarter high and profit after tax jumped 55 percent year-on-year (YoY).

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Bharat Puri, MD of Pidilite Industries, told CNBC-TV18 that exports are growing substantially and that is what is fueling industrial growth and the export growth will continue for the next three to six months.

Puri said a large part of the company's growth is because of exports. The company has a substantial amount of exports from its pigments division and as China has tightened up on environmental regulations within China.

"We have been one of the beneficiaries of the China shut down of some of their factories. So, a large part of the growth of industrial is exports; it is not domestic growth.”

Puri added that the company's focus has always been on topline volume growth.

"We have always said that we will margins within a band between 20 percent and 24 percent depending upon raw material/input costs."

"We are at the top end but as far as we are concerned, going forward our focus will remain on stimulating volume growth because we believe that is the right mantra for a pioneer like us going forward.”

On price cuts, he said: “We have not cut prices across the board, but wherever necessary, where we need to cut prices, if we believe that the price premium is untenable, we obviously take action."

"So, the fact that we are on the top end of our margin band suggests that if raw material prices were to soften further, over a period of time we would look at a price correction.”