Asian Paints on Tuesday posted a marginal rise in consolidated net profit at Rs 874.05 crore for the January-March quarter in 2022 as against Rs 869.89 crore in the year-ago period.
Revenue from operations grew 20.60 percent year-over-year to Rs 7,889.94 crore in the fourth quarter compared with Rs 6,541.94 crore in the corresponding period, last fiscal year.
Total expenses for the quarter stood at Rs 6,677.11 crore as against Rs 5,576.38 crore in the corresponding period, last year.
At the operating level, EBITDA in the fourth quarter increased by 9.5 percent to Rs 1,443 crore as compared to the same period last fiscal. However, the margin slipped by 150 bps year-on-year to 18.3 percent in the fourth quarter as it had to bear the impact of higher input costs but sequentially, it improved by 22 bps.
Revenue from the paints segment inched up to Rs 7,663.74 crore from Rs 6,467.20 crore last year.
Revenue from ‘Home Improvement’ came in at Rs 232.36 crore compared with Rs 185.88 crore last year.
“It was yet another quarter of solid double-digit value growth across all businesses, despite the prevailing uncertainty around Covid, macroeconomic challenges, and heightened geopolitical tensions,” Asian Paints Managing Director & CEO Amit Single said.
The domestic decorative business grew by 8% volume and 20% revenue on a strong basis, while the foreign business grew by double digits despite significant headwinds in key areas, he noted.
”The Industrial Coatings business closed the quarter with another round of robust double-digit revenue growth with continued momentum in the Protective Coatings segment. The scale-up in the Home Decor business continued unhindered, making further inroads through network expansion and introduction of unique value propositions for its customers,” Single said.
In the fiscal year ended March 2022, Asian Paints’ consolidated net profit plummeted 3.80 percent to Rs 3,084.81 crore, whereas in fiscal 2021, it was Rs 3,206.75 crore.
Revenue from operations stood at Rs 28,923.48 crore in 2021-22 while it was Rs 21,485.20 crore in the previous year.
In a separate announcement, Asian Paints said its board in a meeting held today recommended payment of a final dividend of Rs 15.50 per equity share of the face value of Re 1 each for FY22.
”The total dividend for the financial year ended March 31, 2022, aggregates to Rs 19.15 per equity share of the face value of Re 1 each, including the interim dividend of Rs 3.65 per equity share as approved by the board on October 21, 2021,” it said.