Asian Paints Q4 Results: Reports Increase In Net Profit 45% YoY To Rs 1,234 crore

Asian Paints, the largest paint manufacturer in India, reported that its consolidated net profit increased by 45% year over year (YoY) to Rs 1,234 crore in the fourth quarter of FY23. When compared to the same quarter previous year, it was Rs 850 crore.

The revenue exceeded the Rs. 1,153 crore profit prediction from the ET Now Poll.

A final dividend of Rs 21.25 has been recommended by the company's board of directors for the fiscal year that ended in March 2023.

Comparing the March quarter to the same period previous year, the revenue from operations increased 11% to Rs 8,787 crore (Rs 8,787 crore).

The company's PBDIT (Profit before depreciation, interest, tax, other income, and extraordinary items) increased 29% to Rs 1,865 crore from Rs 1,443 crore a year before.

The fourth quarter had a 390 basis point sequential improvement in gross margins.

The profit for the entire year climbed 35% YoY to Rs 4,106 crore while sales increased 19% YoY to Rs 34,368 crore.

The forex crisis, the lack of liquidity in important Asian and African markets, and other factors all contributed to a 3% decline in international business sales, or Rs 794 crore, in the fourth quarter. The segment's revenues climbed 10% in constant currency terms.

While kitchen and bathroom sales were weak, in-home décor, its new fabric categories, decorative lighting and UPVC doors and windows all performed well.

Bath fittings business sales in the ornamental segment decreased 10% in Q4 to Rs 96 crore because of weak retail demand.

Additionally, due to sluggish retail demand, kitchen sales for the reporting quarter decreased 21% to Rs 98 crore.
Sales of APPPG and PPGAP gained 8% and 17%, respectively, year over year in the industrial sector.

Asian Paints reported that its fourth-quarter value was the greatest it has ever been, with double-digit volume and value growths in its decorative and non-automotive industrial divisions.

Asian Paints stock was trading 2.45% higher on Thursday at Rs 3,115 a share on the NSE.