Asian Paints has announced its financial results for the quarter and six months ended September 30, 2015.
“The demand conditions in the Indian Economy remained subdued and growth of decorative coatings business segment in India continued at a lower level than it did in the decade prior to 2012. Material prices remained benign in the quarter aiding margins. The Industrial Coatings JV (AP-PPG) registered good growth in the Industrial Liquid Paints and Road markings segment. In the Automotive coatings business JV (PPG-AP), the Auto OEM and Refinish segment registered reasonable growths. The International business did well aided by contribution from the units in Middle East and in Ethiopia, although Egypt and Nepal were adversely affected in this period” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.
For the quarter ended September 30, 2015, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints – Income from operations has risen by 4.0% to 3,779.4 crores from 3633.0 crores. Profit before depreciation interest and tax (PBDIT) for the group increased by 15.2% to 620.8 crores from 538.7 crores. Profit Before Tax (PBT) increased by 17.2% to 598.2 crores from 510.3 crores. Net Profit after Minority Interest increased by 14.9% to 399.0 crores as compared to 347.3 crores in the previous corresponding period.
The Board of Directors recommended the payment of an interim dividend of 2.20 per share (220 %). The company distributed an interim dividend of 1.80 per share (180%) for H1- FY2015. Total dividend of 6.10 per share (610%) was distributed in FY 2015. The dividend payout ratio was 52.6% in FY2015.
For the six months ended September 30, 2015, Asian Paints Group Income from operations has increased by 5.8% to 7402.8 crores from 6995.2 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 19.6% to 1304.3 crores from 1090.5 crores. Profit Before Tax (PBT) increased by 25.6% to 1277.0 crores from 1016.6 crores. Net Profit after Minority Interest increased by 24.5% to 854.2 crores as compared to 686.0 crores in the previous corresponding period.
For the quarter ended September 30, 2015, Income from operations increased by 2.3 % to 3064.7 crores from 2995.7 crores. PBDIT for the quarter Increased by 11.4% to 538.9 crores from 483.6 crores. Net Profit Increased by 11.9 % to 364.5 crores as compared to 325.7 crores in the previous corresponding period.
For the six months ended September 30, 2015, income from operations increased by 4.6 % to 6002.9 crores from 5736.4 crores. PBDIT for the period increased by 18.3 % to 1144.8 crores from 968.1 crores. Net Profit on a standalone basis increased by 24.9 % to 792.3 crores as compared to 634.5 crores in the previous corresponding period.
