Today, the Board of Directors of Akzo Nobel India Limited, a leading Paints and Coatings company and maker of Dulux Paints, approved the financial results for the quarter ended 30 June 2022.
Q1 FY23 versus Q1 FY22
• Record quarterly Revenue from operations at ₹937.7 crore, up by 50%
• EBIT from operations up 40% to ₹101.8 crore, delivers double-digit profitability at 10.9%
• PAT ₹76.9 crore up by 1% (up by 30% if we exclude one-time tax provision reversal of ₹16.8 crore last year)
Sharing an overview on the first quarter performance, Rajiv Rajgopal, Managing Director, Akzo Nobel India said,
“We’ve continued our strong growth momentum in paints and coatings to register record quarterly topline. In decorative paints, growth was led by refreshed flagship luxury (Dulux Velvet Touch with Tru Colour technology) and premium brands (Dulux Weathershield Max), supported by new launch in mass segment. Metro and Tier I towns continued to drive growth, while inflationary pressures were felt in semi-urban and rural geographies which had distribution led growth. Demand uptick led by automotive, marine and protective and powder resulted in robust double-digit growth across all coatings business.
Staying on course with its Grow & Deliver strategy, Akzo Nobel India continued to address raw material increase and currency volatility with pricing actions,” added Rajiv.
BRAND CONNECT: Strengthening consumer connect, the first-ever digital campaign was released for Dulux Aquatech range of premium waterproofing solutions. Through its humorous storytelling, the Parul aur Painter – Ek Love Story! campaign underlines that in real life, Dulux Aquatech is a ‘Must hai, Best hai’ solution to end all waterproofing woes of consumers.
SUSTAINABILITY: In the aspirational district of Darrang in Assam, our Project Indradhanush is increasing employability and entrepreneurship of women in the local decorative painter community. AkzoNobel has trained over 300 local women, who in turn, are manning the district’s first 100% women owned and operated dealership and 25 stores under a hub and spoke model.