Akzo Nobel India informed that it has commenced the commercial production of the powder coating products from its plant at Gwalior, Madhya Pradesh on 5 September 2024, with an installed production capacity of 5,166 tonne per annum.
The firm stated that the capacity can be expanded on the basis future demand.Further, this commercial production is aimed at supporting capacity expansion considering the service level need of the powder coating market demand of the company mainly in North and Eastern India.
The company has invested an amount of Rs 105 crore towards the aforesaid, and the same has been funded through internal accruals.
Akzo Nobel India is a leading paints and coatings company and maker of Dulux Paints. The companys consolidated net profit rose 4.3% to Rs 114.60 crore on 3.7% increase in net sales to Rs 1,036.30 crore in Q1 FY25 over Q1 FY24.
The scrip gained 3.46% to close at Rs 3,686.80 on Thursday, 5 September 2024.
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