Hyderabad/Mumbai, July 30, 2024: Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the first quarter of the financial year 2024-25. For the quarter, the company declared Net revenue of Rs. 2050.4 Crores, a degrowth of 1% over the corresponding quarter of the previous year.
EBITDA was at Rs.334.4 Crores, a growth of 0.2% over the same quarter of the previous year. PBT before the exception item was at Rs 323.4 Crores a growth of 6.2% over the same quarter of the previous year.
Commenting on the results, Mr. Anuj Jain, Managing Director, of Kansai Nerolac Paints Ltd said, “The quarter continued to witness good demand for Automotive Coatings. Demand for Decorative was muted due to unprecedented heat waves, labor shortages, and elections. Demand for Performance Coating was subdued however it picked up in June.
A combination of measures like cost control, product mix, and procurement efficiencies helped improve gross margins over the corresponding quarter last year. Raw material prices have now gradually started to harden due to various geopolitical issues. The company is actively taking steps to mitigate this cost increase. The company is also undertaking various initiatives in the digital space to improve its efficiency in the marketplace.
Looking forward, with a favorable monsoon demand should improve for decoration. Given the continued thrust on infrastructure growth, new projects, and order pipeline we believe demand for performance coatings should be strong.”
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