AkzoNobel India announces full year results for 2016-17
Year ended 31 March 2017
- Total revenue grew to ₹ 3134 crore -up 7%.
- Profit after tax at ₹ 247 crore- up 15%.
Today, the Board of Directors of Akzo Nobel India Limited approved the financial results for the quarter and the year ended March 31, 2017.
Year ended 31 March 2017
- Total revenue at ₹ 3134 crore as compared to ₹ 2935 crore of the previous year; represents a YoY growth of 7%
- Profit after tax at ₹ 247 crore as compared to previous year’s ₹ 214 croreof the previous year represents YoY growth of 15%
Q4 FY17 versus Q4 FY16
- Total revenue at ₹ 782 crore as compared to ₹ 711 crore of the corresponding quarter of the previous year; represents a QoQ growth of 10%
- Profit after tax at ₹ 73 crore as compared to ₹ 61 crore of the corresponding quarter of the previous year represents a 18% increase
Nihal Kaviratne CBE, Chairman, AkzoNobel India:
“It has been a record for AkzoNobel India with the company crossing the ₹ 3000 crore mark in revenue and achieving ₹ 342 crore as PBT from operations. In line with the company performance and its Dividend policy, the Board has recommended an enhanced dividend of ₹ 22 per share.”
Jayakumar Krishnaswamy, Managing Director, AkzoNobel India:
“We have sprung back after demonetisation with both Coatings and Chemicals segments recording strong volume growth which is reflected in the full year’s revenue growth and underlying business profitability. In line with our commitment to our shareholders, we have been able to deliver sustained profit growth during the year through investment in innovation, operational excellence programs and continued focus on sustainability and contribution to the society.”
He added: “As part of our Human Cities initiative, AkzoNobel is committed to making a difference in the communities we operate in. We have been focussing on education of underprivileged children and skill development of youth. Incidentally, this is also a thrust area of the Government of India under the Skill India initiative. Last year, the AkzoNobel Paint Academy reached a significant milestone of training over 500 youth. The first batch of trainees in VR (Vehicle Refinishes) has been placed with various body shops across Mumbai.”
About AkzoNobel India:
AkzoNobel creates everyday essentials to make people’s lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential colour to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Consistently ranked as a leader in sustainability, we are dedicated to energising cities and communities while creating a protected, colourful world where life is improved by what we do.
AkzoNobel India has been present in India for over 60 years and is a significant player in the paints industry. In 2008, the company became a member of the AkzoNobel Group. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Interpon. With employee strength of close to 1,900, AkzoNobel India has manufacturing sites, offices and a distribution network spread across the country. All manufacturing facilities have a state-of-the art environmental management system. Its commitment to Health, Safety, Environment & Security (HSE&S) has been among the best in class globally, with due care being taken to protect the people and the environment
Safe Harbour Statement:
This press release may contain statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ materially from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures.
Investor Relations, AkzoNobel India: R Guha, email@example.com; +91-124-2540400
Prerna Arun, Country Communications, AkzoNobel India Contact: firstname.lastname@example.org; +91-124-4852400