Kansai Nerolac Paints Ltd.
Q4FY23 Quarterly & FY23 Annual Result Announced for Kansai Nerolac Paints Ltd.
Furniture/furnishing paints company Kansai Nerolac Paints announced Q4FY23 & FY23 results:
- For Q4FY23, net revenue from operations of Rs 1,605 crore, a growth of 13.6 % over Q4FY22
- EBIDTA was at Rs 153 crore, a growth of 83.8 % over Q4FY22
- PAT was at Rs 94 crore, a growth of 283.2 % over Q4FY22
- For FY23, net revenue from operations of Rs 7,081 crore, a growth of 19.0 % over FY22
- For FY23, EBITDA was at Rs 794 crore, a growth of 22.6 % over FY22
- PAT for FY23 was Rs 486 crore, a growth of 29.9 % over FY22
- The board has recommended a dividend of 270% (Rs 2.70 per share) for FY23, as compared to a total dividend of 225% (Rs 2.25 per share) for FY22
- The board has considered and approved the Issue of 1 bonus equity share of face value Re 1 each against 2 equity shares of face value Re 1 each. This is subject to shareholders’ approval.
Commenting on the results, Anuj Jain, Managing Director, Kansai Nerolac Paints, said, “During the quarter all businesses have done well. Though raw material prices have softened, for the year, inflation is still positive. Judicious cost management efforts were continued. This along with various initiatives undertaken in previous quarters has led to the gross margins improving both over the corresponding quarter last year and sequentially. The company continued with growth initiatives in Decorative and Performance coating. These initiatives which are in the area of feet on the street, digital interventions, influencer outreach, new product launches, approvals, and projects have gathered momentum. The results are encouraging, and these initiatives are being expanded to more cities. Looking forward demand is expected to remain healthy in the near term.”