Nerolac Paints
Kansai Nerolac Paints Ltd on Monday reported over five-fold progress in its consolidated web revenue to Rs 96.24 crore for the fourth quarter ended March 2023.
The corporate had posted a consolidated web revenue of Rs 19.17 crore within the January-March interval a 12 months in the past, Kansai Nerolac Paints Ltd (KNPL) mentioned in a regulatory submitting.
Its income from operations surged 12.81 per cent in the course of the quarter underneath evaluation to Rs 1,733.59 crore. It was Rs 1,536.60 crore within the corresponding interval final fiscal, it added.
The entire bills had been 7.61 per cent greater at Rs 1,618.08 crore in comparison with Rs 1,503.54 crore in This fall FY22.
KNPL’s whole earnings within the March quarter was at Rs 1,743.29 crore, up 13.52 per cent.
KNPL Managing Director Anuj Jain mentioned all companies have achieved properly within the March quarter.
“Although uncooked materials costs have softened, for the 12 months, inflation remains to be optimistic. Even handed value administration efforts had been continued. This together with varied initiatives undertaken in earlier quarters have led to the gross margins bettering over the corresponding quarter final 12 months and sequentially,” he mentioned.
KNPL continued with progress initiatives in ornamental and efficiency coating.
For the complete 2022-23, KNPL’s web revenue jumped 36.52 per cent to Rs 468.47 crore. It was Rs 343.15 crore in FY22.
Its consolidated income from operations in FY23 elevated 18.42 per cent to Rs 7,542.73 crore from Rs 6,369.35 crore a 12 months in the past.
On the outlook, Jain mentioned: “Trying ahead, demand is predicted to stay wholesome within the close to time period”.
Whereas sharing the Indian paint trade outlook, KNPL mentioned the dimensions of the home paint trade is estimated at round Rs 70,000 crore as of March 2023.
“The nice progress in infrastructure, core sector in addition to car and actual property is prone to have a optimistic impact on the general demand of paint for the trade in the long term,” he mentioned.
In the meantime, KNPL additionally mentioned its board in a gathering held on Monday has really useful a dividend of 270 per cent, which is Rs 2.70 per share of Re 1 every for the monetary 12 months ended March 31, 2023.
It has additionally permitted a “proposal for declaration of Bonus Fairness Shares within the ratio of 1:2, topic to the approval of the shareholders of the corporate”.
It has additionally permitted the appointment of Pravin D Chaudhari as a non-executive director of the corporate with impact from June 26, 2023.
Shares of Kansai Nerolac Paints Ltd on Monday settled at Rs 403.20 on BSE, up 2.17 per cent from the earlier shut.