"The Decorative business registered double digit growth during the quarter with good growth across geographies. The Automotive coatings JV (PPG-AP), saw good growth in the General Industrial segment and Refinish segments while the Automotive segment demand was subdued. The Industrial Coatings JV (AP-PPG), which had seen a decline in the previous year, saw good volume growth in the Industrial Liquid Paints and Road Marking business. Performance of the International units were a mixed bag with units in Caribbean, UAE, Singapore and Bangladesh doing well. Operations in Egypt were affected due to weak business sentiment in the country." said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited.
“The Sleek business performed well during the quarter with new dealer openings in certain geographies. During the quarter, Asian Paints has acquired the front end sales business (including brands, network and sales infrastructure) of Ess Ess Bathroom Products Pvt Ltd, a prominent player in the bath and wash segment in India” he added.
Consolidated Results: Q1-FY’2015: For the quarter ended June 30, 2014, on consolidation of accounts of the subsidiaries and joint ventures of Asian Paints Income from Operations increased by 18.3 % to 3,362.2 crores from 2,841.1 crores. PBDIT (before exceptional item) for the quarter increased by 19.8 % to 556.5 crores as compared to 464.7 crores of the previous year. Net Profit after Minority Interest for the quarter increased by 23.1 % to 338.7 crores from 275.2 crores.
Standalone Results: Q1-FY’2015: For the quarter ended June 30, 2014, Income from Operations has increased by 18.2 % to 2740.7 crores from 2319.7 crores. PBDIT (before exceptional item) for the quarter increased by 14.2 % to 538.5 crores from 471.3 crores. Other Income for the quarter ended 30th June 2013 and year ended 31st March 2014 included 25.75 crores of dividend received from its wholly owned subsidiary, Asian Paints International Limited, Mauritius. Net Profit on a Standalone basis for the quarter ended June 30, 2014 increased by 8.8 % to 308.8 crores from 283.9 crores.
About Asian Paints Limited
Asian Paints 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 23 paint manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints Egypt, Asian Paints, Apco Coatings and Taubmans.