Asian Paints' consolidated net profit attributable to the owners of the company declined 23.3 per cent year-on-year (Y-o-Y) to Rs 1,110.5 crore in Q3FY25, down from Rs 1,447.7 crore in Q3FY24
A 5 per cent price cut taken last year, new entrants capturing some market share, and an overall slowdown in the discretionary category
The brokerage sees brighter prospects for these emerging contenders (Berger & Indigo) in the second half of FY25 (H2FY25), citing several headwinds for Asian Paints that could limit its growth
Paints and coatings maker Akzo Nobel India Ltd on Thursday reported a 13.94 per cent increase in consolidated net profit to Rs 108.7 crore in the fourth quarter ended March 2024, driven by volume growth. The company had posted a consolidated net profit of Rs 95.4 crore in the same quarter previous fiscal, Akzo Nobel India Ltd said in a regulatory filing. Consolidated revenue from operations in the fourth quarter was Rs 973.4 crore as compared to Rs 951.4 crore in the year-ago period. The increase in revenue was driven by strong double-digit volume growth, the company said. Total expenses were higher at Rs 836.7 crore over Rs 824.9 crore a year ago. Akzo Nobel India said its board has recommended a final dividend of Rs 25 per equity share for the financial year 2023-24 subject to shareholders' approval in the forthcoming annual general meeting. The total dividend for FY24 aggregates to Rs 75 per share, including an interim dividend of Rs 50 declared earlier. For the fiscal ended
Revenues at India's third-largest paintmaker by market capitalisation rose over 2% to 17.69 billion rupees, while a rise in input costs helped total expenses tick 1.7% higher
Further, it aims to become the second-biggest player in the Rs 80,000 crore Indian decorative paints market, which is currently dominated by Asian Paints
Kansai Nerolac Paints Ltd on Monday reported a 39.57 per cent increase in consolidated net profit to Rs 152.09 crore for the December quarter, helped by improvement in margins. The company had posted a net profit of Rs 108.97 crore in the October-December period a year ago, Kansai Nerolac said in a regulatory filing. Its revenue from operations was up 5 per cent to Rs 1,918.71 crore in the third quarter of the ongoing fiscal from Rs 1,826.81 crore in the year-ago period. Total expenses of Kansai Nerolac Paints were up 2.72 per cent to Rs 1,730.61 crore in the December quarter. Commenting on the results, Managing Director Anuj Jain said, "The quarter saw good demand for industrial coatings. Decorative demand was also good as it registered double-digit volume growth, driven by the festive season." Raw material prices were stable despite volatility in crude. "Gross margins improved over the corresponding quarter last year. The company continues to see traction as regards to initiati
The company has already broken even at an operating level during the year, and its earnings before interest, tax, depreciation, and amortisation (EBIDTA) margins are expected to be in single digits
Mitshi India was founded in 1976 as Dera Paints and Chemicals Ltd and Its market cap on Friday stood at Rs 20.20 crore
The fund raise comes a month after of the textile-to-chemicals maker announced plans to enter the paint business under the brand name 'Birla Opus' in the fourth-quarter of fiscal 2024
The production of paints will take place at the company's manufacturing plants located in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal
The total income for Q1FY24 came in at Rs 2,174 crore, compared to Rs 2,056.20 crore year-on-year
Q3 witnessed weak volumes; valuations do not factor in risks
The paint major's net sales increased by 1.3 per cent to Rs 8,636.7 crore
The company had posted a consolidated net profit of Rs 1,031.29 crore in the same period last fiscal, Asian Paints said in a regulatory filing
The company was scouting for a 40-50 acre-plot in Odisha, says Abhijit Roy, MD and CEO, Berger Paints
Sales performance in the festival season was muted; volumes expected to recover
Despite the raw material pressures, the company posted a 172 bps expansion in operating profit margins as compared to the year ago period, given operating leverage benefits
The management foresees uptick in demand across the paint industry to be driven by strong expansion in the infrastructure, core sector, automotive, and real estate industries.
Listed paint companies could report over 30 per cent revenue growth year-on-year (YoY), aided by double-digit volume growth in decorative paints and cumulative gains from pricing action