Asian Paints scales record high after Q4 result

Asian Paints gained 5.7% to Rs 1,283.95 at 12:15 IST on BSE after consolidated net profit rose 3.4% to Rs 495.91 crore on 13.41% rise in total income to Rs 4527.83 crore in Q4 March 2018 over Q4 March 2017.

The announcement was made after market hours yesterday, 10 May 2018.

Meanwhile, the S&P BSE Sensex was up 97.49 points or 0.28% at 35,343.76

On the BSE, 1.95 lakh shares were traded on the counter so far as against average daily volumes of 91,000 shares in the past two weeks. The stock had hit a high of Rs 1,287 so far during the day, also its record high. The stock hit a low of Rs 1,227.20 so far during the day. The stock had hit a 52-week low of Rs 1,081.45 on 24 May 2017.

The large-cap company has equity capital of Rs 95.92 crore. Face value per share is Re 1.

K.B.S. Anand, Managing Director & CEO, Asian Paints said that the decorative paint business in India registered double digit volume growth in the current quarter with improved demand conditions. Material prices continued to witness an upward trend thereby exerting pressure on margins which was mitigated to an extent by the price increases taken.

Good demand conditions in the auto OEM and general industrial business segment led to improved performance of the automotive coating JV (PPG-AP). The performance of industrial coating JV (AP-PPG) saw an improvement in the current quarter based on good growth registered in the powder coating segment, K.B.S. Anand said.

Asian Paints is India's leading paint company and ranked among the top ten decorative coatings companies in the world.

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