April 27 2016, 18.20 PM IST || Pocket News Alert
Chandigarh, April 27, 2016: Kansai Nerolac Paints Limited(KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the fourth quarter of financial year 2015-16. For the quarter, the company declared gross sales of Rs.1062.88 crores, marking a growth of 10.6 % over the same quarter of the previous year. PBT was Rs.122.18 crores a growth of 38.4 % over the same quarter of the previous year.
For the year ending March 31, 2016, the company declared gross sales of Rs.4604.36 crores marking a growth of 9.3% over the same period of the previous year. For the year PBT due to normal operations was Rs 529.37 Crores a growth of 32.7% over the same period of the previous year. PBT including abnormal one time gain due to sale of land at Chennai was at Rs. 1064.71 Crores
Commenting on the announcement, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd said,“During the quarter, KNP continued to see high double digit volume and value growth in Decorative, however Industrial demand has been subdued and in single digit, due to the sluggishness in Automotive.During the quarter, while inflation was benign, we did start seeing some hardening of crude prices. The company has consciously passed on what-ever benefit it has received to its customers. Going forward, over the next six months we see demand sentiment likely to remain sluggish mainly due to drought like conditions across major parts of India. The hardening of crude rates could put pressure on the bottom line. While there is visibility of double digit growth in Decorative, situation with respect to Industrial in the near future remains a challenge”.
Outlook of Indian Paint Industry:
The size of domestic paint industry is estimated at Rs 39000 crores as of Mar 2016. 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.
About Kansai Nerolac Paints Ltd:
Kansai Nerolac Paints has been at the forefront of paint manufacturing for more than 90 years pioneering a wide spectrum of quality paints. Kansai Nerolac is the second largest paint company in India and is the leader in Industrial segment, having a turnover of Rs 4604 crores. The company has four strategically located manufacturing units all over India and a strong dealer network across the country. The company manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals and hotels to sophisticated industrial coatings for most of the industries. Please visit www.nerolac.com