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Akzo Nobel India
Goldman Sachs, Morgan Stanley, and other entities picked up a 5 per cent stake in Dutch paint maker Akzo Nobel India for nearly Rs 765 crore through open market transactions on Wednesday. Citigroup Global Markets Mauritius, Nippon India Mutual Fund (MF), Edelweiss Life Insurance Company, Ward Ferry Management, Societe Generale, Dublin-based Mediolanum International Funds and BNP Paribas Financial Markets are among the entities that have bought stakes in Akzo Nobel India, as per block deal data on the NSE. These entities have collectively purchased over 22.77 lakh shares or 5 per cent in separate deals. The shares were bought at an average price of Rs 3,358.80 apiece, taking the combined deal value to Rs 764.80 crore. Meanwhile, Imperial Chemical Industries, one of the promoters of Akzo Nobel India, offloaded these shares at the same price. After the stake sale, Imperial Chemical Industries' holding in Akzo Nobel India has come down to 45.46 per cent from 50.46 per cent. The combin
Paints and coatings maker Akzo Nobel India Ltd on Monday reported a 20.6 per cent decline in consolidated net profit to Rs 91 crore in the June quarter, impacted by lower sales amid tepid consumer demand. It had posted a consolidated net profit of Rs 114.6 crore in the corresponding period last fiscal, Akzo Nobel India said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 995.1 crore as compared to Rs 1,036.3 crore in the year-ago period, it added. Total expenses in the April-June quarter were marginally lower at Rs 881.6 crore against Rs 891.7 crore in the same period a year ago, the company said. The company, in which JSW Paints had agreed to buy a 74.76 per cent stake for Rs 8,986 crore last month, followed by an open offer to buy another 25 per cent from the open market for up to Rs 3,929.06 crore, said its board has approved a one-time special interim dividend of Rs 156 per share. Akzo Nobel India Chairman and Managing Direc
Sajjan Jindal-led JSW Paints has sought approval from the Competition Commission of India (CCI) to acquire a majority stake in Dutch paint maker Akzo Nobel's India unit in a Rs 12,915-crore deal. The development came after JSW Paints announced in June this year that it will buy a 74.76 per cent stake in Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore, totalling over Rs 12,915 crore, to become the fourth-largest player in the paint industry in the country. "The proposed transaction relates to the acquisition of up to 75 per cent shareholding in the target (Akzo Nobel India Ltd) by the acquirer (JSW Paints Ltd) through a share purchase agreement, and a mandatory open offer," according to a notice filed with the Competition Commission of India. The parties (JSW Paints and Akzo Nobel India) said the proposed combination does not raise competition concerns in any plausible relevant markets and therefor
Paints and coatings maker Akzo Nobel India Ltd on Wednesday reported a marginal decline in consolidated net profit at Rs 108.4 crore in the fourth quarter ended March 31, 2025. The company had posted a consolidated net profit of Rs 108.7 crore in the same quarter previous fiscal year, Akzo Nobel India said in a regulatory filing. Consolidated revenue from operations in the March quarter stood at Rs 1,022.1 crore as against Rs 973.4 crore in the year-ago period, said the maker of Dulux Paints. Total expenses during the quarter were higher at Rs 887.3 crore as compared to Rs 836.7 crore in the corresponding period a year ago. "In Q4 2024-25, Akzo Nobel India registered ahead-of-industry topline growth, driven by double-digit growth in B2B businesses. In retail, the business continued to grow in premium category and urban centres, while demand in mass and economy categories was impacted by competitive dynamics," Akzo Nobel India Ltd Chairman and MD Rajiv Rajgopal said. "Despite such
Paints and coatings maker Akzo Nobel India Ltd on Friday reported a decline of 4.56 per cent in its consolidated net profit at Rs 108.6 crore for the third quarter ended on December 2024 on account of rise in raw material costs. The company had posted a net profit of Rs 113.8 crore in the October-December quarter a year ago, according to a regulatory filing from Akzo Nobel. Its revenue from operations rose 1.72 per cent to Rs 1,050.5 crore in the quarter under review, up from Rs 1,032.7 crore in the corresponding period of the previous fiscal. Total expenses of Akzo Nobel, maker of Dulux paints, increased 2.32 per cent to Rs 910.3 crore in the December quarter. Akzo Nobel's total income, which includes other income, in the December quarter, was at Rs 1,056.5 crore, up 1.47 per cent. Commenting over the results, Chairman and Managing Director, Rajiv Rajgopal said, " In Q3 FY25, we achieved both volume and value growth despite subdued market conditions. Favourable demand in ...