Kansai Nerolac Paints announced Q1FY25 results: For the quarter, the company declared Net revenue of Rs 2,050.4 crore, a degrowth of 1% over the corresponding quarter of the previous year. EBIDTA was at Rs 334.4 crore, a growth of 0.2% over the same quarter of the previous year. PBT before exception item was at Rs 323.4 crore a growth of 6.2% over the same quarter of the previous year. Commenting on the results, Anuj Jain, Managing Director, Kansai Nerolac Paints said, “The quarter continued to witness good demand for Automotive Coatings. Demand for Decorative was muted due to unprecedent heat wave, labor shortages and elections. Demand for Performance Coating was subdued however it picked up in June. A combination of measures like cost control, product mix and procurement efficiencies helped improve gross margins over the corresponding quarter last year. Raw material prices have now gradually started to harden due to various geopolitical issues. The company is actively taking steps to mitigate this cost increase. The company is also undertaking various initiatives in the digital space to improve its efficiency in the marketplace. Looking forward, with a favorable monsoon demand should improve for decorative. Given the continued thrust on infrastructure growth, new project and order pipeline we believe demand for performance coatings should be strong.” Result PDF
Furniture-Furnishing-Paints company Kansai Nerolac Paints announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net revenue: Rs 1,662 crore, a growth of 3.5% over the corresponding quarter of the previous year. EBIDTA: Rs 179 crore, a growth of 17.5% over the same quarter of the previous year. PBT (Profit Before Tax) before exceptional items: Rs 162 crore, a growth of 32.7% over the same quarter of the previous year. FY24 Financial Highlights: Net revenue: Rs 7,393 crore, a growth of 4.4% over the same period of the previous year. EBIDTA: Rs 1,023 crore, a growth of 28.8% over the same period of the previous year. PBT before exceptional items: Rs 924 crore, a growth of 42% over the same period of the previous year. Total dividend recommended: 375% (Rs 3.75 per share), including a special dividend of 125% (Rs 1.25 per share), for the financial year ended March 31, 2024, compared to a total dividend of 270% (Rs 2.7 per share) last year. Commenting on the results, Anuj Jain, Managing Director, Kansai Nerolac Paints said, “The demand for Industrial coatings though good, moderated from previous quarter. Decorative once again recorded double digit volume growth. Raw material prices were stable. Gross margins improved over the corresponding quarter last year due to the benign raw material cost. The initiatives in the areas such as feet-on-street, digital, influencer outreach, new product launches, approvals, and projects are yielding results for the company. Going forward, the forecast of a good monsoon should augur well for paint industry.” Result PDF
Furniture-furnishing Paints company Kansai Nerolac Paints announced Q3FY24 & 9MFY24 results: Q3FY24: For the quarter, the company declared Net revenue of Rs 1,814.9 crore, a growth of 5.7% over the corresponding quarter of the previous year. EBIDTA was at Rs 239.9 crore, a growth of 27.3% over the same quarter of the previous year. PAT was at Rs 157.6 crore, a growth of 40.4% over the same quarter of the previous year. 9MFY24: For the nine months net revenue was Rs 5,731.6 crore, a growth of 4.7% over the same period of the previous year. EBIDTA was at Rs 843.7 crore, a growth of 31.5% over the same period of the previous year. PBT before exceptional items was at Rs 761.3 crore, a growth of 44.2% over the same period of the previous year. PAT after exceptional items were at Rs 1,081.3 crore. Commenting on the results, Anuj Jain, Managing Director, Kansai Nerolac Paints 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. Company continues to see traction as regards initiatives in the areas such as feet-on-street, digital, influencer outreach, new product launches, approvals, and projects. Going forward with the election around the corner, rural demand is expected to pick up which should support overall volume demand in the near term. Given the evolving geo-political situation, raw material prices may experience volatility”. Result PDF