Conference Call with Asian Paints Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript. Management in attendance: Amit Syngle and Senior Management Team
Asian Paints announced Q2FY23 results: Q2FY23 (Consolidated): Consolidated Sales increased by 19.8 % to Rs 8,430.60 crores from Rs 7,036.51 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share of profit in associates) increased by 35.7 % to Rs 1,227.70 crores from Rs 904.45 crores. Profit before exceptional items and tax increased by 32.4 % to Rs 1,094.16 crores from Rs 826.24 crores. Net profit after minority interest increased by 31.3 % to Rs 782.71 crores from Rs 595.96 crores. H1FY23 (Consolidated): Consolidated Sales increased by 35.3 % to Rs 17,009.48 crores from Rs 12,571.38 crores. PBDIT for the group (before share of profit in associates) increased by 53.1 % to Rs 2,783.65 crores from Rs 1,818.01 crores. Profit before exceptional items and tax increased by 57.3 % to Rs 2,524.99 crores from Rs 1,604.82 crores. Net profit after minority interest increased by 54.5% to Rs 1,799.64 crores from Rs 1,164.46 crores. Q2FY23 (Standalone): Sales increased by 20.1% to Rs 7,315.86 crores from Rs 6,090.08 crores. PBDIT for the quarter increased by 27.5% to Rs 1,115.55 crores from Rs 874.92 crores. Profit before tax increased by 23.0% to Rs 1,020.20 crores from Rs 829.52 crores. Net Profit increased by 23.4% to Rs 763.29 crores from Rs 618.63 crores. H1FY23 (Standalone): Sales increased by 37.4% to Rs 14,871.66 crores from Rs 10,823.38 crores. PBDIT increased by 46.7% to Rs 2,578.13 crores from Rs 1,756.87 crores. Profit before tax increased by 47.3% to Rs 2,392.61 crores from Rs 1,624.18 crores. Net Profit increased by 46.6% to Rs 1,780.57 crores from Rs 1,214.49 crores. “The domestic Decorative business showed resilience to deliver a double-digit volume growth and healthy value growth despite subdued demand conditions, impacted by the extended monsoon. The business focus on top line is evident from the double-digit compounded growth rates in volume and value sales for a sixth quarter in a row. The Home Décor business continued to gain traction with focus on Lighting, Kitchen and Bath along with proliferation of our Beautiful Homes Stores and the Home Décor implementation arm, Beautiful Homes Service, across markets. The Auto OE business delivered robust growth, while the Industrial coatings business continued with its high growth trajectory led by Protective & Powder Coatings. The International business also registered a good double digit revenue growth despite multiple headwinds across key markets. We took a series of calibrated price increases to offset the impact of increased inflation on margins. We continue to enhance our customer engagement endeavors and are embarking on a series of breakthrough initiatives in the value chain to deliver sustained value for all our stakeholders.” said Amit Syngle, Managing Director & CEO of Asian Paints Limited. Result PDF