Kansai Nerolac Paints Ltd Announces Q4 Results FY 2015-2016; Gross Sales up by10.6%
Author(s): City Air NewsChandigarh, 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....
cityairnews
Apr 27, 2016 12:30
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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 of10.6 % 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.
