Kansai Nerolac Paints Q4 results: Net profit rises 19% to ₹114 crore; dividend declared
Upstox
2 min read • Updated: May 6, 2024, 1:27 PM
Summary
Kansai Nerolac Paints’ total revenue stood at ₹1,801.92 crore, registering a growth of 3.36% YoY while net revenue grew 3.5% YoY to ₹1,662 crore. Earnings before interest, tax, depreciation, and amortisation (EBIDTA) rose 17.5% to ₹179 crore. Profit before tax (PBT) before exceptional items stood at ₹162 crore, registering a growth of 32.7 % over the same quarter of the previous year.
Kansai Nerolac Paints on Saturday reported an 18.76% year-on-year (YoY) rise in its consolidated net profit at ₹114.29 crore in the fourth quarter of fiscal year 2024 (Q4FY24).
The company's total revenue stood at ₹1,801.92 crore, registering a growth of 3.36% YoY while net revenue grew 3.5% YoY to ₹1,662 crore.
The earnings before interest, tax, depreciation, and ammortisation (EBIDTA) rose 17.5% to ₹179 crore during the quarter under review.
The company's profit before tax (PBT) prior to exceptional items stood at ₹162 crore, registering a growth of 32.7 % over the same quarter of the previous year.
Kansai Nerolac Paints FY24 results
For the fiscal year 2024, net revenue stood at ₹7,393 crore, registering a growth of 4.4% over the same period of the previous year.
EBITDA grew 28.8 % YoY at ₹1,023 crore. PBT before exceptional items stood at ₹924 crore, registering a growth of 42% YoY.
Anuj Jain, Managing Director at Kansai Nerolac Paints said the demand for industrial coatings though good, moderated from the previous quarter.
“Decorative once again recorded double-digit volume growth. Raw material prices were stable. Gross margins improved over the corresponding quarter last year due to the benign raw material cost. The initiatives in areas such as feet-on-street, digital, influencer outreach, new product launches, approvals, and projects are yielding results for the company. Going forward, the forecast of a good monsoon should augur well for the paint industry,” he said.
The board of directors recommended a dividend of ₹3.75 per share for FY24, inclusive of a special dividend of ₹1.25 per share.
Kansai Nerolac has eight strategically located manufacturing units all over India. The company manufactures a diversified range of products ranging from decorative paint coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for most industries.
Shares of the company have fallen over 13% since the beginning of the year. The stock has risen over 7% in the last one year.