Kansai Nerolac Paints Ltd Announces Q1 Results FY 2016-2017; Gross Sales up by 8.1%

Chandigarh, July 29, 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 first quarter of financial year 2016-17. For the quarter, the company declared gross sales of Rs.1300.98 crores, marking a growth of8.1% over the same quarter of the previous year. Net Profit wasRs.190.62 croresa growth of36.2 % over the same quarter of the previous year.

Commenting on the results, Mr. H. M. Bharuka, Managing Director, KansaiNerolac Paints Ltd said,“Company has registered a double digit growth in Decorative. In Industrial, growth has been subdued. Lower commodity prices ensured that inflation was benign which has helped improve profitability. On the cost front we however remain watchful since there is a gradual trend seen of hardening of prices as well as currency volatility. The good monsoon augurs well for demand and this along with pay hikes for government employees could see an improvement in the demand in the second half of the year.”

Outlook of Indian Paint Industry:

The size of domestic paint industry is estimated at Rs39000crores 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.