Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the second quarter of financial year 2024-25. For the quarter, the company declared Net revenue of
Rs. 1864 Crores, a growth of 1 % over the corresponding quarter of the previous year.
EBIDTA was at Rs 215 Crores, a de-growth of 20.3 % over the same quarter of the previous year. PAT was at Rs 130 Crores, a de-growth of 27.6 % over the same quarter of the previous year. Margin was affected due to change in mix and ongoing investments in capability building for the future.
For the half year net revenue was flat at Rs. 3914 Crores over the same period of the previous year. EBIDTA was at Rs 549 Crores, a de-growth of 9 % over the same period of the previous year. PBT before exceptional items was at Rs. 516 Crores, a de-growth of 6 % over the same period of the previous year.
Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The company is seeing strong growth in the areas of Paint+ products, services, projects, construction chemicals and wood finishes. Overall demand in Decorative was affected due to heavy and extended monsoons. A good monsoon would augur well, and we expect demand to improve in the second half.
In Automotive growth was good on the back of several initiatives and we expect this momentum to be maintained.
Performance Coating has also done well and is expected to remain strong on the back of a good order pipeline.
Raw material prices initially showed an inflationary trend but as the quarter progressed, raw material prices have gradually started softening.”
Outlook of Indian Paint Industry:
The size of domestic paint industry is estimated at around Rs. 75000 crores as of March 2024.The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run.
No comments:
Post a Comment