ASIAN PAINTS LTD Q1 RESULTS FY18-19: KEY HIGHLIGHTS
Asian Paints Limited, one of the largest paint companies in India, has posted its Q1 numbers for the period ended 30 June 2018 after the market hours on Tuesday. The Company’s Profit After Tax (PAT) up by more than 35% (on standalone basis) for the quarter ends on 30th June ’18. Here are the key points,
The Company’s revenue (on standalone basis) stood at INR 3775.10 Cr for the period ends on 30 JUNE 2018 as compared to previous quarter last year (30 June 2017) where the revenues were INR 3680.71, showing a jump of 2.56% YoY.
The Company’s revenue for the last quarter ended on 31 MARCH 2018, stood at INR 3834.51 Cr, showing de-growth of 1.55% QoQ.
The Company’s consolidate revenue for the April to June 2018 quarter stood at INR 4460.24 Cr.
The Company posted a hefty gains as far as Profit is concern, stood at INR 542.63 Cr for the April to June ’18 quarter (which was INR 400.86 Cr a year ago) showing a gains of 35.37 percent YoY
The Company’s profit for the last quarter ended on 31 March ’18 stood at INR 491.57 Cr, showing a growth of 10.39% QoQ
The Company’s consolidated PAT for the quarter stands at INR 571.31 Cr
Words from CEO
Overall, International operation faced challenging conditions with issues like (1) forex unavailability and (2) difficult weather conditions impacting business performance. Both the businesses in the Home improvement category viz. the kitchen (sleek) and Bath (Ess Ess) business, registered strong in the quarter, said K.B.S. Anand, MD and CEO of Asian Paints Ltd.
About the Company: Asian Paints Limited
Since its foundation in 1942, Asian Paints has come a long way to become India’s leading and Asia’s 3rd largest paint company, with a turnover of INR 168.43 billion. The Company operates in 16 countries and have 25 paint manufacturing facilities in the world, servicing consumers in over 65 countries.
Over the course of 25 years, Asian Paints became a corporate force and India’s leading paints company. Driven by its strong consumer-focus and innovative spirit, the company has been the market leader in paints since 1967. Today, it is double the size of any other paint company in India. Asian Paints manufactures a wide range of paints for decorative and industrial use.
Stock Price Movement
The stock closed up by 2.41% to INR 1467.75 when the market closed! During the quarter ended June 2018, the share price of Asian Paints Limited surged by more than 12 percent.
The Decorative paint business in India registered good double digit volume growth in the current quarter helped to an extent by the low base of the previous year. The GST rate reduction from 28% to 18% on Paint is a welcome move and should help demand from the small consumers. However, a continuous increase in the raw material prices and expects an inflation of almost 10% in the second quarter could create challenges for the company.
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