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Kansai Nerolac Paints Ltd Announces Q3 Results- FY 2006-07

Published on 2007-02-09. Author : SpecialChem

Mumbai -- Kansai Nerolac Paints Ltd, the country's second largest paint company announced its financial results for the third quarter ended 31st December, 2007 at the Board Meeting.

The Company has registered net sales of Rs. 309.10 crores, an increase of 8.6% as compared to Rs 284.51 crores in the corresponding period of the previous year. The Profit Before Tax at Rs 36.88 Crores as compared to Rs 40.19 Crores of previous year, excluding extraordinary gain of Rs 50.39 Crores arising out of sale of investments in an associate company in the previous year.

Cumulatively, the net sales for nine months ended as on December 31, 2006, is at Rs 893.78 crores as against Rs 772.41 crores for the same period in the previous year. Profit Before Tax for nine months ended December 31, 2006, is at Rs 118.14 crores as against Rs 118.15 crores (net of extraordinary gain mentioned above) in the corresponding period of the previous year.

Commenting on the performance of the company, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd, said "We have had a reasonably good quarter with Top line growing at 8.6% The growth is low on account of preponement of the season sale to the second quarter with Diwali being early this year. Profitability is affected on account of rising input costs where the full impact could not be passed on to the customers. We will continue to invest in research & technology in developing new products & finishes keeping abreast of all the latest trends in the sector and cost will be kept under check. The boom in infrastructure continues to accentuate the sales and industrial is not the least behind."

About Kansai Nerolac Paints Limited:

Kansai Nerolac Paints has been at the forefront of paint manufacturing for more than 86 years pioneering a wide spectrum of quality paints. Kansai Nerolac is the second largest paint company in India and undisputed leader in Industrial segment, having a turnover of Rs.1226 crores. The company has five strategically located manufacturing units all over India and a strong dealer network of over 11000 dealers across the country. The company manufactures a diversified range of products ranging from architectural coatings for homes, offices, hospitals and hotels to sophisticated industrial coatings for most of the industries.

Source: Kansai Nerolac Paints Ltd

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