AkzoNobel India announces Q2 FY 2016-17 results

Revenue at ₹761 Crore; up by 7%.
Operating profit at ₹56 crore; up by 28%.

Today, the Board of Directors of Akzo Nobel India Limited approved the unaudited financial results for the quarter ended September 30, 2016.

Performance highlights

AkzoNobel India Limited (Q2 FY17 versus Q2 FY16)

Comments

Jayakumar Krishnaswamy, Managing Director, Akzo Nobel India:

“This quarter Akzo Nobel India delivered a double digit growth in volume and 28% growth in operating profit continuing its growth momentum. The company’s robust performance has been driven by innovation through growing brands, strong cost management and focus on sustainable operations. The company has also broken ground on its new powder coatings plant in Mumbai. The new facility will complement the company’s existing plant in Bangalore, doubling its installed capacity.

AkzoNobel India, under its global Human Cities initiative, has taken great strides in contributing towards the community through projects that make cities more liveable. Our flagship endeavor, the AkzoNobel Paint Academy, has been instrumental in facilitating a positive change in skill enhancement for a better
livelihood.”

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 Akzo Nobel’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.

Not for publications-for more information:

Investor Relations, AkzoNobel India: R Guha, investor.india@akzonobel.com; +91-124-2540400
Country Communications, AkzoNobel India: Joya Ahluwalia, joya.ahluwalia@akzonobel.com; +91-124-4852400