“Decorative paint demand in India remained resilient inspite of the overall sluggish environment. We registered double digit volume growth with good growth from Tier 2 & Tier 3 cities” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.
“Industrial coatings business continues to be affected by the economic slowdown. Automotive coatings growth was subdued due to poor demand in the automotive sector. International business performed well led by good growth in some key markets like Bangladesh, Nepal and Emirates. However, performance in some markets was impacted by continued political unrest and weak economic activity. In order to expand its international presence, Asian Paints had entered into an agreement with Kadisco Chemical Industry Plc, Ehiopia to acquire 51% of its share capital”, he added.
Mr. K B S Anand further added,“ The Company is focusing on expanding the kitchen business of Sleek through expansion of the network and working on synergies with the paints dealer network. Asian Pain ts has today entered into a binding agreement with ESS ESS Bathroom Products Pvt Ltd and its promoters, to acquire its entire front end sales business including Brands, Network and Sales Infrastructure, subject to satisfaction of certain conditions precedents and applicable statutory approvals. ESS ESS Bathroom Products Pvt Ltd is a prominent player in the bath & wash business segment in India and has high quality products in this segment”.
Asian Paints Consolidated Results: Q4 - FY’2014
For the quarter ended March 31, 2014, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints Income from Operations increased by 22 % to `3307.1 crores from `2710 crores. PBDIT for the quarter increased by 23 . 4 % to `485.1 crores as compared to `393 crores of the previous year. Net Profit after Minority Interest for the quarter increased by 14.5 % to `287.4 crores from `251.1 crores.
Asian Paints Consolidated Results : FY’2014
For the year ended March 31, 2014, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints Inc ome from Operations increased by 16.2 % to `12,714.8 crores from `10, 938.6 crores. PBDIT increased by 15.4 % to `1997.9 crores as compared to `1732 crores of the previous year. Net Profit after Minority Interest of the group in creased by 9.4 % to `1218.8 crores from `1113.9 crores.
The Board of Directors recommended the payment of final dividend of `4.20 per equity share (420 %). An interim dividend of `1.10 per equity share (110 %) was distributed in FY’13 - 14. Thus total dividend announced for FY’13 - 14 will be `5.30 per equity share (530 %). The total dividend for the year FY’12 - 13 was `4 . 6 0 per equity share of face value of `1 each (460 %).
Asian Paints Standalone Results : Q4 - FY’2014
For the quarter ended March 31, 2014, Income from Operations has increased by 22.2 % to `2724 crores from `2 229.6 crores. PBDIT for the quarter increased by 19.8 % to `423.9 crores from `353.7 crores. Net Profit on a Standalone basis in creased by 11.5 % to `267.1 crores from `239.6 crores.
Asian Paints Standalone Results : FY’201 4
For the year ended March 31, 20 14, Income from Operations increased by 16.3 % to `10418.8 crores from `8960.1 crores. PBDIT for the year increased by 14.9 % to `1777.3 crores as compared to `1547.3 crores in the previous year. Net Profit on a standalone basis increased by 11.3 % to `1169.1 crores from `1050 crores in the previous year.
About Asian Paints Limited
Asian Paints (asianpaints.com) is India’s largest paint company and ranked among the top ten Decorative coatings companies in the world with a consolidated turnover of `12,714.8 crores (`127.15 billion). Asian Paints along with its subsidiaries have operations in 17 countries across the world with 2 3 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints Egypt, Asian Paints, Apco Coatings and Taubmans.