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    Breaking News

    Asian Paints Ops Consolidated Revenue Up 13.7 Percent For Quarter

    ...

    Asian Paints Ops Consolidated Revenue Up 13.7 Percent For Quarter
    10.27.17
    Asian Paints announced its financial results for the quarter and six months (ending Sept. 30, 2017).

    “The Decorative business in India registered high single digit volume growth in the current quarter. Hence there was a recovery from Q1 which was affected by the impact of destocking due to GST,”said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited. “However the impact of GST continued through July and a recovery of sorts was seen only in September. On a sequential basis, material prices remained stable, helped to an extent by the strong currency. The Automotive coatings JV (PPG-AP), witnessed subdued demand in the Auto OEM and General Industrial business segment. The performance of Industrial Coatings JV (AP-PPG) was satisfactory.

    “In the International Operations, Units in Nepal, Bangladesh, Oman and Bahrain witnessed good topline growth. However, currency devaluation in Egypt and forex unavailability in Ethiopia, impacted the overall performance of the International operations. Both the segments within the Home Improvement business – the Kitchen business under Sleek and the Bath business under Ess Ess, performed significantly better than the first quarter.”

    With the introduction of Goods and Services Tax (GST) (effective July 1, 2017), Central Excise, Value Added Tax (VAT) etc. have been subsumed into GST. In accordance with Indian Accounting Standard - 18 on Revenue and Schedule III of the Companies Act, 2013, unlike Excise Duties, levies like GST, VAT etc. are not part of Revenue. The figures and growth percentages given herein have been suitably adjusted to make the revenue from operations for periods up June 30, 2017.

    The Consolidated results for the current year include the results of Causeway Paints Lanka (Private) Limited, Sri Lanka, in which Berger International Private Limited, Singapore (BIPL), subsidiary of the company acquired 100% controlling stake on April 3, 2017 and hence the results are not comparable with the previous periods.

    Asian Paints Consolidated Results, Q2-FY’18:
    For the quarter, which ended Sept. 30, 2017, on consolidation of accounts of the subsidiaries and associate of Asian Paints – Revenue from operations has risen by 13.7 percent to ₹4,274.18 crores from ₹3,757.66 crores. Profit before depreciation interest and tax (PBDIT) for the group increased by 13.6 percent to ₹801.13 crores from ₹705.41 crores. Profit Before Tax (PBT) increased by 8.8 percent to ₹756.85 crores from ₹695.49 crores. Net Profit after Non-controlling Interest (from continuing operations) increased by 8.0 percent to ₹508.42 crores as compared to ₹470.83 crores in the previous corresponding period.
    The Board of Directors approved the payment of an interim dividend of 2.65 per share (265 percent). The company distributed an interim dividend of 2.65 per share (265 percent) for H1- FY 2017. Total dividend of 10.30 per share (1030 percent) was distributed for FY 2017. The dividend payout ratio was 65.9 percent for FY 2017.

    Asian Paints Consolidated Results, H1-FY’18:
    For the six months ending Sept. 30, 2017, Asian Paints Group Revenue from operations has increased by 9.5 percent to ₹8,083.97 crores from ₹7,384.93 crores. Profit before depreciation interest and tax (PBDIT) for the group has decreased by 3.6 percent to ₹1,466.50 crores from ₹1,521.57 crores. Profit Before Tax (PBT) decreased by 6.1 percent to ₹1,402.08 crores from ₹1,492.83 crores. Net Profit after Non-controlling Interest (from continuing operations) decreased by 7.0 percent to ₹933.60 crores as compared to ₹1004.36 crores in the previous corresponding period.

    Asian Paints Standalone Results, Q2-FY’18:
    For the quarter ending Sept. 30, 2017, Revenue from operations increased by 14.6 percent to ₹3,602.20 crores from ₹3,143.71 crores. PBDIT for the quarter increased by 14.1 percent to ₹720.09 crores from ₹631.25 crores. Net Profit increased by 8.8 percent to ₹473.45 crores as compared to ₹435.27 crores in the previous corresponding period.

    Asian Paints Standalone Results, H1-FY’18:
    For the six months ending Sept. 30, 2017, Revenue from operations increased by 10.2 percent to ₹6,790.93 crores from ₹6,159.78 crores. PBDIT for the period decreased by 3.2 percent to ₹1,317.17 crores from ₹1,361.38 crores. Net Profit on a standalone basis decreased by 6.6 percent to ₹874.40 crores as compared to ₹936.45 crores in the previous corresponding period.
     
     
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