Industry News

Asian Paints Net Profit Increases by 26.5 %

Published on 2005-10-31. Author : SpecialChem

MUMBAI -- Asian Paints announced their results for the six-month ended September 30, 2005.

Asian Paints Consolidated Results, H1 FY2006

For the six month period, consolidated net sales increased by 19.6 % to Rs.14,359 million from Rs. 12,007 million for the corresponding period of the previous financial year. Profit before depreciation, interest and tax (PBDIT) for the group increased by 13.7 % to Rs.2.020 million from Rs. 1,777 million. Profit before Tax after goodwill increased by 20.3 % to Rs. 1,647 million from Rs. 1369 million. Net Profit after minority interest increased by 26.5 % to Rs. 1029 million from Rs. 814 million.

The Board of Directors of the company, in their meeting, recommended the payment of an interim dividend of Rs 4.50 per share ( 45 %) for H1 FY2006. The company distributed an interim dividend of 40% for H1-FY 2005. The total dividend of 95 % was distributed in FY 2005.

Commenting on the results, Mr. Ashwin Dani, Vice-Chairman & Managing Director, Asian Paints Limited said “The surge in our sales has been driven by strong demand for decorative & industrial paints in India and the middle east region. The good performance of the decorative business in India, the largest contributor to the group’s revenue is mainly due to excellent growth recorded in all wall finish products. The industrial coatings business in India has recorded strong growth in protective, powder, and automotive coatings. The international business has performed as per our expectations with all five regions registering good sales growth”.

Net Sales for the quarter ended Sept 30, 2005 increased to Rs. 7729 million compared to Rs. 6,674 million in the corresponding quarter registering an increase of 15.8 %. Profit before depreciation, interest and tax (PBDIT) increased by 12.5% to Rs. 1,152 million from Rs. 1,024 million. Profit before Tax after goodwill registered an increase of 17.9% to Rs. 963 million compared to Rs. 817 million. Net Profit after minority interest was Rs. 592 million compared to Rs. 487 million registering an increase of 21.4% for the quarter ended Sept 30, 2005.

About Asian Paints

Asian Paints is India's largest paint company and ranked among the top ten Decorative Coatings Companies in the World with a group turnover of INR 25.6 billion. Asian Paints along with its various subsidiaries has operations in 22 countries across the world with 30 paint manufacturing facilities, serving consumers in 65 countries through Berger International, SCIB Paints Egypt, Asian Paints, Apco Coatings and Taubmans. The company has an enviable reputation in the corporate world for professionalism, fast track growth, and building shareholder equity.

Source: Asian Paints

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