Kansai Nerolac Paints announced Q1FY23 results: The company declared Net revenue of Rs 1944.6 crore, a growth of 47.1 % over the corresponding quarter of the previous year. EBIDTA was at Rs 255.6 crore, a growth of 34.7 % over the same quarter of the previous year. PAT was at Rs 162.9 crore, a growth of 37.0 % over the same quarter of the previous year. Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “This quarter saw a healthy demand for both Decorative and Industrial Paints. There has been a revival in demand in Industrial led by increased demand in Automotive due to the gradual easing of the chip shortages. While inflationary trend continued, towards the end of the quarter, there has been some softening of input prices for crude-based items which is yet to be reflected in derivatives. Rupee depreciated sharply during the quarter. Company has taken prices increase in Decorative and Industrial during the quarter and is in continued discussion with OEM customers for further price increase. The company focused on selling a better product mix. It continued with the aggressive cost control program and judicious management of overheads. Looking forward, with a forecast of a good monsoon, demand should remain healthy”. Result PDF
Kansai Nerolac Paints announced Q4FY22 results: For the quarter, the company earned Net revenue from operations of Rs.1412.8 crore, a growth of 4.2% over the corresponding quarter of the previous year. For the year, the company earned Net Revenue from operations of Rs. 5948.9 crore a growth of 24.7% over the corresponding period of the previous year. EBIDTA was at Rs. 82.9 crore, a de-growth of 59.9% over Q4 of 2020-21. PAT was at Rs. 24.5 crore, a de-growth of 80.9% over Q4 of 2020-21. For the year period EBITDA was at Rs. 647.3 crore, a de-growth of 23.3% over previous year. PAT for the year was Rs 374.3 crore, a de-growth of 29.5% over previous year. Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The quarter witnessed impact in terms of demand for decorative on account of the steep price increase towards end of Q3 FY 21-22. In Automotive, Passenger Vehicles demand was good though impacted because of supply side constraints. On raw material costs, the quarter continued to witness inflationary pressures along with volatility in crude and exchange rates on account of the tough geo-political situation globally. Overall demand situation is expected to remain healthy, and company remains positive and well poised to do better. It is expected that price increases taken in FY 21-22 will accrue in the coming year. Company will strive for more price increases in Industrial.” Result PDF