Furniture, Furnishing & Paints company Berger Paints (India) announced Q2FY25 results Standalone Financial Highlights: Revenue from Operations for the Q2FY25 was Rs 2,430.7 crore as against Rs 2,439.8 crore in the Q2FY24, representing a decline of 0.4%. EBITDA (excluding Other Income) for the Q2FY25 was Rs 383.4 crore against Rs 403.1 crore in the Q2FY24, representing a decline of 4.9%. Net Profit for the Q2FY25 was Rs 229.0 crore as against Rs 243.9 crore in the Q2FY24, representing a decline of 6.1 %. Consolidated Financial Highlights: Revenue from Operations for the Q2FY25 was Rs 2,774.6 crore as against Rs 2,767.3 crore in the Q2FY24, representing an increase of 0.3%. EBITDA (excluding Other Income) for the Q2FY25 was Rs 434.2 crore against Rs 473.7 crore in the Q2FY24, representing a decline of 8.3%. Net Profit for the Q2FY25 was Rs 269.9 crore as against Rs 292.1 crore in the Q2FY24, representing a decline of 7.6%. Performance Highlights: Despite registering marginal growth, the company has gained market share during the quarter. Construction Chemicals, Waterproofing, Wood Coatings, and Premium & Luxury top coats continued to perform well within the Decorative segment. Protective coatings did well as per expectations. The gross profit margin of 41.7% was the highest in the last 10 quarters. Operating Profit Margin was within guidance level of 15% to 17% during the quarter. Abhijit Roy, Managing Director & CEO, Berger Paints India, said:"The extended monsoons, adverse weather & flooding in some key markets made this a tough quarter although we saw strong traction towards the quarter end. This resulted in an almost flat quarterly revenue performance and moderate single-digit growth on volume terms. On the profitability front, this quarter saw one of the highest levels of gross margins in the last 10 quarters and our operating margin remained within guidance levels despite the continued investments that the company made in branding, advertisement, and manpower to strengthen our market presence. Though the quarter numbers were muted, we expect that the second half of the year will be better in terms of revenue and profitability. We continued to do well in the focus segments of the Company, especially waterproofing, construction chemicals, wood coatings, and the premium plus coating segments. In addition, the Company saw a healthy improvement in its network on the back of the installation of 3804 new Colorbank tinting machines up to September 2024. The mass volume range products however suffered reduced demand due to inclement weather leading to the muted numbers reported for the quarter. Operating profit for the quarter, while healthy, had a negative growth rate. Three factors contributed to this, (a) the scale effect, (b) our investment in new manpower, and (c) increased investment in advertising and brand-building activities for our differentiated products. On the international front, our Polish operations continued to do well. However, there was a one-time set-off in projects which has impacted profitability this quarter. Nepal continued to be challenging, but on October 24, Nepal registered a double-digit revenue growth after almost a year and we expect a turnaround in their figures going forward. We remain optimistic for H2 on the back of the reversal of the price decrease impact and the improving market demand." Result PDF
Furniture-Furnishing-Paints company Berger Paints (India) announced Q1FY25 results: Revenue from Operations for the quarter ended 30th June, 2024 was Rs 2,806.3 crore as against Rs 2,739.8 crore in the corresponding quarter of the last year, representing an increase of 2.4% over the corresponding quarter of last year. EBITDA (excluding other income) for the quarter ended 30th June, 2024 was Rs 483.7 crore as against Rs 513.83 crore in the corresponding quarter of the last year, representing a decline of 5.9% over the corresponding quarter of last year. Net profit for the quarter ended 30th June, 2024 was Rs 305.5 crore as against Rs 326.3 crore in the corresponding quarter of last year, representing a decline of 6.4% over the corresponding quarter of last year. Abhijit Roy, Managing Director & CEO of Berger Paints India, said: "This quarter was tough due to elections, inclement weather and slowdown in a few key markets. In spite of this we were able to deliver double digit volume growth and the highest market share gain in a single quarter. Though we did well on the volume growth front, the value sales were lower due to the impact of the price drop taken in the prior quarters and stronger sale seen in the high volume, low value products 1 in the waterproofing and construction chemicals category. Profitability for the quarter, while healthy, had negative growth. Three factors contributed to this, among them being the base effect of a very high margin recorded in QI FY24, impact of price reductions in prior quarters and an increased investment in advertising and brand building activities linked to elections. We continue to register robust growth in waterproofing, construction chemicals and wood coating segments. The industrial segment had a muted performance in April and May but saw revival from June onwards which bodes well for us in the months ahead. On the international front, our Polish operations continued to do well while our operations in Nepal continues to be a challenge. We are now starting to see some signs of improvement in Nepal. As part of the regular succession planning exercise of the Company ensuring seamless transition to the next generation of leaders, Ms Rishma Kaur was appointed as the Chairperson of the Company by the Board of Directors at its meeting held today with effect from 13th August, 2024. Mr Kanwardip Singh Dhingra was appointed as Vice Chairman of the Company by the Board of Directors at its meeting held today with effect from 13th August, 2024. Mr Ku/dip Singh Dhingra and Mr.Gurbachan Singh Dhingra will continue on the Board as Non-Executive Directors designated Chairman Emeritus and Vice chairman Emeritus respectively with effect from 13th August, 2024 and would guide their successors on strategic thinking, leadership and overall understanding of the business. We remain optimistic on the demand scenario for the year ahead and look forward to introducing our customers and influencers to new innovations in products and services as the year progresses" Result PDF