Asian Paints Q1 Results Reached 6.7% Surge In Consolidate Sales

Asian Paints reported positive financial results for the quarter, with a 6.7% increase in consolidated sales, reaching Rs 9,153.80 crore compared to Rs 8,578.90 crore in the same quarter last year. The company’s consolidated net profit (after minority interest) also saw substantial growth, rising by 52.5% to Rs 1,550.40 crore from Rs 1,016.9 crore in the corresponding quarter last year. Read More Business News on our website.

The PBDIT margin expanded by 510 basis points, making it to 23.2%. Amit Syngle, the Managing Director & CEO, highlighted that their decorative business achieved double-digit volume growth and healthy value growth, despite facing a high base from the previous year. Additionally, both the auto OE and general industrial coating businesses experienced strong double-digit revenue growth, primarily driven by the protective & powder coatings segment.

However, Asian Paints faced challenges in its international portfolio due to macro economic issues and adverse forex conditions in Asian markets, resulting in subdued overall growth. Within the Home Décor segment, certain categories like fabrics and decorative lighting showed high growth, while the Kitchen and Bath business segments were sluggish.

Nonetheless, the company managed to improve its margins significantly, both sequentially and on a year-on-year basis, by implementing operational, formulation, and sourcing efficiencies and benefiting from easing inflation in raw material prices. “Looking ahead, the company remains focused on pursuing growth and is confident about a robust festival season ahead” , Analysts said.