Mumbai : Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its audited results for the quarter and year ended 31 March 2022.
For the quarter, the company earned Net revenue from operations of Rs.1412.8 Crores, a growth of 4.2% over the corresponding quarter of the previous year. For the year, the company earned Net Revenue from operations of Rs. 5948.9 Crores a growth of 24.7% over the corresponding period of the previous year.
EBIDTA was at Rs. 82.9 Crores, a de-growth of 59.9% over Q4 of 2020-21. PAT was at Rs. 24.5 Crore, a de-growth of 80.9% over Q4 of 2020-21. For the year period EBITDA was at Rs. 647.3 Crores, a de-growth of 23.3% over previous year. PAT for the year was Rs 374.3 Crores, a de-growth of 29.5% over previous year.
The Board has recommended a final dividend of 100 % (1.00 ₹ per share). In addition, the Company had declared interim dividend of 125% (₹ 1.25 per share) paid on November 22, 2021. Accordingly, the total dividend is 225 % (₹ 2.25 per share) for the financial year ended March 31, 2022, as compared to total dividend of 525% (₹ 5.25 per share) including Special Dividend of 200% declared last year.
Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The quarter witnessed impact in terms of demand for decorative on account of the steep price increase towards end of Q3 FY 21-22. In Automotive, Passenger Vehicles demand was good though impacted because of supply side constraints. On raw material costs, the quarter continued to witness inflationary pressures along with volatility in crude and exchange rates on account of the tough geo-political situation globally. Overall demand situation is expected to remain healthy, and company remains positive and well poised to do better. It is expected that price increases taken in FY 21-22 will accrue in the coming year. Company will strive for more price increases in Industrial.”
Outlook of Indian Paint Industry:
The size of domestic paint industry is estimated at around Rs. 60000 crores as of March 2022. The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run.