Asian Paints Releases FY17 Results

Asian Paints Ltd has announced their financial results for the quarter and Twelve months ended March 31, 2017.\

“The decorative business segment in India registered a low double digit growth in the current quarter after witnessing some recovery from the impact of demonetization. Raw material prices have moved up over the last 2 quarters necessitating price increases to protect margins. Good demand conditions in the Auto OEM and General Industrial business segment led to improved performance of the Automotive coatings JV (PPG-AP). In the Industrial Coatings JV (AP-PPG), Industrial Liquid Paints, Road Marking Paints and Powder coatings segment registered good growth. Our International business performed well aided by strong performance in markets like Nepal, Jamaica, Fiji, Oman and Bahrain. Egypt was impacted by the devaluation of the local currency; whereas shortage of raw materials on account of unavailability of foreign exchange affected Ethiopia operations. Both the segments in the Home Improvement category viz. the Kitchen (Sleek) and Bath (ESS ESS) business, delivered good topline growth in the quarter” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.

Asian Paints Consolidated Results, Q4-FY’17:
For the quarter ended March 31, 2017, on consolidation of accounts of the subsidiaries and associate of Asian Paints – Revenue from operations has risen by 8.9 % to 4,416.23 crores from 4,053.83 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group increased by 2.1 % to 711.87 crores from 697.05 crores. Profit Before Tax (PBT) increased by 4.9 % to 689.48 crores from 657.56 crores. Net Profit after Minority Interest increased by 10.4 % to 462.22 crores as compared to 418.70 crores in the previous corresponding period.

Asian Paints Consolidated Results, 12M-FY’17:
For the twelve months ended March 31, 2017, Asian Paints Group Revenue from operations has increased by 7.8 % to 17,084.76 crores from 15,841.69 crores. PBDIT for the group has increased by 9.1 % to 3021.43 crores from 2,769.15 crores. Profit Before Tax (PBT) increased by 11.5 % to 2,914.61 crores from 2,613.85 crores. Net Profit after Minority Interest increased by 11.1 % to 1,939.42 crores as compared to 1,745.16 crores in the previous corresponding period.
The Board of Directors recommended the payment of final dividend of 5.65 per equity share (565%). In addition, the Board of Directors have recommended a one-time special dividend of 2 per equity share (200%) of the face value of 1 each for celebrating 75 years of Excellence at Asian Paints. An interim dividend of 2.65 per equity share (265 %) was distributed in FY’16-17. Thus total dividend announced for FY’16-17 will be 10.3 per equity share (1030%). The total dividend for the year FY’15-16 was 7.50 per equity share (750 %) of face value of 1 each.

Asian Paints Standalone Results, Q4-FY’17:
For the quarter ended March 31, 2017, Revenue from Operations has increased by 10.5 % to 3,762.15 crores from 3,403.43 crores. PBDIT for the quarter increased by 3.4 % to 639.13 crores from 618 crores. Net Profit on a Standalone basis increased by 9.9 % to 440.82 crores from 400.95 crores.

Asian Paints Standalone Results, 12M-FY’17:
For the year ended March 31, 2017, Revenue from Operations increased by 7.7 % to 14,360.43 crores from 13,332.18 crores. PBDIT for the year increased by 7.9 % to 2,671.44 crores as compared to 2,476.93 crores in the previous year. Net Profit on a Standalone basis increased by 11.1 % to 1,803.10 crores from 1,622.81 crores in the previous year.