Conference Call with Berger Paints (India) Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Berger Paints (India) announced Q2FY24 & H1FY24 results: Consolidated Q2FY24: Revenue from Operations for Q2FY24 was Rs 2,767.30 crore as against Rs 2,670.92 crore in Q2FY23, representing an increase of 3.61%. EBITDA (excluding Other Income) for Q2FY24 was Rs 473.65 crore against Rs 363.95 crore in Q2FY23, representing an increase of 30.14%. Net Profit for Q2FY24 was Rs 292.13 crore as against Rs 219.51 crore in Q2FY23, representing an increase of 33.08% over Q2FY23. Consolidated H1FY24: Revenue from Operations for H1FY24 was Rs 5,796.81 crore as against Rs 5,430.62 crore in H1FY23, representing an increase of 6.74%. EBITDA (excluding Other Income) for H1FY24 was Rs 1,030.40 crore against Rs 768.79 crore in H1FY23, representing an increase of 34.03%. Net Profit for H1FY24 was Rs 647.04 crore as against Rs 473.22 crore in H1FY23, representing an increase of 36.73% over H1FY23. Standalone Q2FY24: Revenue from Operations for Q2FY24 was Rs 2,439.83 crore as against Rs 2,373.75 crore in Q2FY23, representing an increase of 2.78%. EBITDA (excluding Other Income) for Q2FY24 was Rs 403.12 crore against Rs 318.29 crore in Q2FY23, representing an increase of 26.65%. Net Profit for Q2FY24 was Rs 243.89 crore as against Rs 190.68 crore in Q2FY23, representing an increase of 27.91 % over Q2FY23. Standalone H1FY24: Revenue from Operations for H1FY24 was Rs 5,179.59 crore as against Rs 4,862.42 crore in H1FY23, representing an increase of 6.52%. EBITDA (excluding Other Income) for H1FY24 was Rs 916.95 crore against Rs 692.01 crore in H1FY23, representing an increase of 32.51%. Net Profit for H1FY24 was Rs 570.21 crore as against Rs 425.08 crore in H1FY23, representing an increase of 34.14% over H1FY23. Commenting on the results, Abhijit Roy MD & CEO, Berger Paints said, " We had double-digit volume growth in the decorative segment with lesser value growth as the sale of low-end and commodity items is high during this quarter. Due to the delayed festive season and rains in September, the sale of topcoats especially exterior coatings was heavily impacted. H(JWever, we see this improving considerably in Quarter 3. We continue to work firmly on network expansion and implementation of key digital initiatives which should bear fruit in months ahead. The General Industrial and Powder coatings vertical witnessed robust value growth with a strong showing on the profit front as well. " Result PDF