Asian Paints Ltd today announced their financial results for the quarter and year ended March 31, 2022.
The company registered a 20.6% YoY growth in consolidated sales to Rs 7,889.94 crore during the fourth quarter of the financial year 2021-22 (Q4FY21) as compared to Rs 6,541.94 crores in the same period a year ago.
Consolidated profit before exceptional items and tax grew by 12.8 per cent to Rs 1,304.88 crores from Rs 1,156.31 crore YoY.
PBDIT (Profit before depreciation, interest, tax, other income, and exceptional items) grew by 9.5 per cent to Rs 1,443.2 crore from Rs 1,318.26 crore YoY.
For the full year, the company's total income grew by 33.91% and stood at Rs.29481.29 crores as against Rs.22015.84 crores during the Financial Year ended March 31, 2021.
However the company's net profit went down by -3.46% and reached Rs.3030.57 crores as against Rs.3139.29 crores in 2021.
EPS also fell marginally by -3.48% and stood at Rs.31.59 for the Financial Year ended March 31, 2022 as compared to Rs.32.73 for the Financial Year ended March 31, 2021.
The reduction in profit was also due to ₹53.73 crore exceptional loss from subsidy delay by state governments and ₹48 crore loss from Sri Lanka business.
The company's board recommended a final dividend of ₹15.50 per equity share for the financial year ended 31 March.
"It was yet another quarter of solid and strong double digit value growth across all businesses, despite the prevailing uncertainty around Covid, macro-economic challenges and heightened geo-political tensions. The domestic Decorative business grew strongly, registering 8% volume growth and 20% plus revenue growth on a high base. The International Business managed to deliver a double-digit revenue growth for the quarter despite severe challenges in key markets. The Industrial Coatings business closed the quarter with another round of robust double digit revenue growth with continued momentum in the Protective Coatings segment. The scale-up in the Home Décor business continued unhindered, making further inroads through network expansion and introduction of unique value propositions for its customers. We continued to improve our operating margins on a sequential basis which was a result of some calibrated price increases, driving the premium and luxury product growths, coupled with some strong work on driving operational efficiencies across businesses. As an organization, we continue to work diligently on expanding our capabilities to beautify, preserve, transform all spaces and objects and in that course deliver sustained value to all our stakeholders." said Amit Syngle, Managing Director & CEO, Asian Paints Limited.
