Kansai Nerolac Paints announces Q2FY23 results: For the quarter, the company declared Net revenue of Rs. 1814.3 Crore, a growth of 19.3% over the corresponding Q2FY22 EBIDTA was at Rs. 197.3 Crore, a growth of 19.8% over the same as Q2FY22. PAT was at Rs 117.3 Crore, a growth of 19.0% over the same as Q2FY22 The H1FY23 net revenue was Rs 3758.8 Crore, a growth of 32.2% over the same period of H2FY22 EBIDTA was at Rs.452.9 Crore, a growth of 27.8% over the same period of H1FY22. PAT was at Rs 280.2 Crore, a growth of 28.9% over the same period of H1FY22. Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The quarter witnessed good demand in Automotive with the easing of the supply chain challenges. Demand in Decorative was subdued due to extended rains. While inflation challenges continue, there has been a gradual cooling off in raw material prices as the quarter progressed. The rupee depreciated sharply during the quarter. The company has taken price increases in both Decorative and Industrial and continues to be in discussion with OEMs for further price increases. The Focus has been on the improvement of the product mix in both Decorative and Industrial. The company has increased spending on marketing and advertising. A good monsoon augurs well for the paint demand going forward. Demand in Quarter 3 could be subdued for Decorative in view of a very high base, early Diwali and prolonged monsoon” Result PDF
Conference Call with Kansai Nerolac Paints Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.