Conference Call with Kansai Nerolac Paints Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Kansai Nerolac Paints announced Q3FY23 results: Q3FY23: The company earned net revenue from operations of Rs 1,717.1 crore, a growth of 1.4% over the corresponding quarter of the previous year. EBIDTA was at Rs 188.5 crore, a de-growth of 10.2% over Q3FY22. PAT was at Rs 112.3 crore, a de-growth of 15.2 % over Q3FY22. Other operating income of the previous year’s Q3 included exceptional income of Rs 44.8 crore Excluding this, Net revenue is up by 4.1%, EBITDA is up by 14.1% and PAT is up by 13.5%. 9MFY23: The company earned net revenue from operations of Rs 5,475.9 crore a growth of 20.7% over the corresponding period of the previous year. EBITDA was at Rs 641.4 crore, a growth of 13.7% over the same period of 2021-22. PAT for the nine months period was Rs 392.4 crore, a growth of 12.2 % over the same period of 2021-22. Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The quarter witnessed good demand in Automotive coatings. Demand in Decorative was impacted on account of early Diwali, extended monsoons and higher than normal channel stocking due to price increases during Oct 21 & Nov 21. Raw material prices showed a decline during the quarter. The quarter continued to witness high exchange volatility with the rupee sharply depreciating further. The company was able to conclude the price increases with all its key OEMs during the quarter which will help partly offset the high inflation witnessed over the last two years. The company initiated various measures to increase growth in decorative. The measures include an increase in feet on the street, digital interventions, network expansion, new product launches and brand strengthening. Judicious management of costs and overheads continued. Looking forward it is expected that demand would remain healthy in the short to medium term”. Result PDF
Conference Call with Kansai Nerolac Paints Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.