November 23, 2024 01:13 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Kansai Nerolac Paints Ltd announces Q1 Results FY 2021-2022
KNPL Q1

Kansai Nerolac Paints Ltd announces Q1 Results FY 2021-2022

| @indiablooms | 30 Jul 2021, 06:53 pm

Kolkata/UNI: Kansai Nerolac Paints Limited (KNPL), one of the leading paint companies in India, Friday declared their net revenue at Rs 1,301.2 crores showing a growth of 117.6 per cent over the corresponding quarter of the previous year.

For the quarter, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBIDTA) was at Rs 187.1 crores, a growth of 132.4 per cent over the same quarter of the previous year. Profit after Tax (PAT) was at Rs 118.7 crores displaying a rise of 177.8 per cent over the same quarter of the previous year.

Commenting on the results, H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said, “The quarter began on an extremely positive note. With the announcement of the lockdown across several states towards the end of April, demand was once again affected across both Decorative and Industrial in April and May. In June there was a revival in Decorative demand once the restrictions eased. Industrial demand continued to be impacted."

"Continuing the trend of earlier quarters, raw material prices further hardened resulting in extremely high inflation coupled with tightness in supplies. Forex markets continued to be volatile. The company has partly increased prices in Decorative. In Industrial, also the company has increased prices and is making sustained effort to obtain price increases to offset the impact of inflation," he said.

The company focused on selling a better product mix while continuing with the aggressive cost control program and judicious management of overheads; it is because of these steps that the drop in EBITDA has been contained a company official disclosed.

Looking forward to the vaccination program underway and a forecast of a good monsoon, demand should recover, he added.   .

The company would be aggressive in seeking price increases.

The size of the domestic paint industry is estimated at around Rs 55,000 crores as of March.

The positive growth in infrastructure, core sector as well as automobile and real estate is likely to have an accelerating effect on the overall demand for paint in the long run.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.