Furniture-Furnishing-Paints company Berger Paints (India) announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Consolidated: Revenue from Operations for the quarter ended 31st March, 2024 was Rs 2,520.3 crore as against Rs 2,443.6 crore in the corresponding quarter of the last financial year, representing an increase of 3.1% over the corresponding period of last financial year. EBIDTA (excluding other income) in Q4FY24 was Rs 350.9 crore as against Rs 368.8 crore in the corresponding quarter of the last financial year, representing a decline of 4.8% over the corresponding period of last financial year. Net Profit for Q4FY24 was Rs 222.6 crore as against Rs 186.0 crore in the corresponding quarter of the last financial year, representing an increase of 19.7% over the corresponding period of last financial year. Standalone: Revenue from Operations for Q4FY24 was Rs 2,249.1 crore as against Rs 2,189.3 crore in the corresponding quarter of the last financial year, representing an increase of 2.7% over the corresponding period of last financial year. EBIDTA (excluding other income) for Q4FY24 was Rs 325.1 crore as against Rs 342.5 crore in the corresponding quarter of the last financial year, representing decline of 5.1% over the corresponding period of last financial year. Net Profit for Q4FY24 was Rs 181.6 crore as against Rs 196.2 crore in the corresponding quarter of the last financial year, representing a decline of 7.5% over the corresponding period of last financial year FY24 Financial Highlights: Consolidated: Revenue from Operations for FY24 was Rs 11,198.9 crore as against Rs 10,567.8 crore in the corresponding financial year, representing an increase of 6.0% over the corresponding period of last financial year. EBIDTA (excluding other income) for the year ended 31st March 2024 was Rs 1,861.3 crore as against Rs 1,487.2 crore in the corresponding financial year, representing an increase of 25.2% over the corresponding period of last financial year. Profit for FY24 was Rs 1,169.8 crore as against Rs 860.4 crore corresponding last financial year, representing an increase of 36.0% over the corresponding period of last financial year Standalone: Revenue from Operations for FY24 was Rs 10,002.9 crore as against Rs 9,470.6 crore in the corresponding financial year, representing an increase of 5.6% over the corresponding period of last financial year. EBTDTA (excluding other income) for FY24 was Rs 1,671.7 crore as against Rs 1,345.9 crore in the corresponding last financial year, representing an increase of 24.2% over the corresponding period of last financial year. Net Profit in FY24 was Rs 1,015.1 crore as against Rs 828.4 crore in the corresponding last financial year, representing an increase of 22.5% over the corresponding period of last financial year. Abhijit Roy, Managilng Director & CEO of Berger Paints India said, "We gained market share again in FY24 and as a milestone crossed Rs 10,000 crore in revenue and PAT of Rs 1,000 crore on a stand-alone basis, a significant event on our 100th year in India. Our Q4FY24 sales were at a healthy double digit volume growth. The value growth was adversely impacted by a massive 4%+ price reduction in the year, an increased contribution of high-volume low value products and a lower than expected sale in the luxury segment from the anticipation of a price reduction in this segment. On the profitability front in Q4FY24, while the gross margins were maintained the ebidta reduced due to the one-off effect of subsidy received in Q4FY23, negative operating leverage on account of fixed cost on lower value base & the incremental operating cost of the new Sandi/a plant as well as the conscious call taken on brand building efforts leading to an inaeased advertisement expenditure. On the whole the company did much better on an annual basis for FY24 delivering a stellar double digit improvement in profitability with all the business lines delivering well with strong double digit volume growths and improvements in profitability especially in the industrial segment. We continue to be focussed on the waterproofing & construction chemicals segment where we saw exceptional growth this year and expect this trend to continue in the years ahead. We remain confident of an improved demand scenario in the upcoming year and have prepared for the same with the launch of multiple innovative new products in the paint, coatings and waterproofing segments to ensure that we provide relevant solutions to the changing needs of our customers. " Result PDF
Conference Call with Berger Paints (India) Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Berger Paints (India) announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue from Operations: Rs 2,881.83 crore, compared to Rs 2,693.59 crore in the corresponding quarter of the previous year, representing an increase of 7.0%. EBITDA (excluding Other Income): Rs 480.04 crore, compared to Rs 349.65 crore in the corresponding quarter of the previous year, indicating a growth of 37.3%. Net Profit: Rs 300.16 crore, compared to Rs 201.17 crore in the corresponding quarter of the previous year, showing a significant increase of 49.2%. Consolidated 9MFY24: Revenue from Operations: Rs 8,678.64 crore, compared to Rs 8,124.21 crore in the corresponding period of the previous year, reflecting an increase of 6.8%. EBITDA (excluding Other Income): Rs 1,510.44 crore, compared to Rs 1,118.44 crore in the corresponding period of the previous year, demonstrating a growth of 35.0%. Net Profit: Rs 947.20 crore, compared to Rs 674.39 crore in the corresponding period of the previous year, showing a notable increase of 40.5%. Commenting on the results, Abhijit Roy, MD & CEO of Berger Paints, said, "The quarter witnessed strong growth on the volume front and robust growth in operating profits, with decorative business line volume growth in double digits. Our Tier 2 and Tier 3 city growth rates were higher than Tier 1 city growth rates. We continued with our aggressive growth in the Waterproofing and Construction Chemicals segment. New product introductions were made in the sealants and roof waterproofing category to fortify our product offerings in this segment. The General Industrial, Auto, and Powder divisions also performed well. In international operations, Bolix S.A., Poland, saw remarkable growth. We continued to expand our network by adding more than 2300 retail touchpoints during this quarter and strengthening digital initiatives to bolster our capabilities as we look at exciting times ahead." Result PDF