Akzo Nobel India announces Q2 results for 2022-23

GurugramNov 4th, 2022    

Akzo Nobel India announces Q2 results for 2022-23

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 September 2022.

Performance highlights

Q2 FY23 versus Q2 FY22

Revenue from operations at ₹926.2 crore, up by 25%

EBIT from operations ₹86.8 crore, up by 15%

PAT ₹65.4 crore up by 17%

Sharing an overview on the second quarter performance, Rajiv Rajgopal, Managing Director, Akzo Nobel India said,

“The double-digit topline growth across paints and coatings was led by pricing actions and marketing campaigns for key propositions ahead of festive season. Our focus continues to be on improving margins and cost rationalization. Decorative paints momentum was led by premium portfolio, robust demand from urban geographies and the conducive real estate sector providing tailwind to projects. Improved demand from infrastructure, oil and gas, automotive and architecture drove coatings growth".

Recent highlights:

BRAND CONNECT: Strengthening consumer connect in the festive season, the new ‘Joy is DIY’ digital campaign was rolled out for Dulux Simply Refresh – the pioneering one-coat multi-surface range of DIY solutions for decorative paints and home repair needs.

INNOVATION: Akzo Nobel India has signed the letters of intent with the two winners of Paint the Future India startup challenge. The startups – HyperReality Technologies and Fluid AI will join the accelerator program where they will have access to AkzoNobel’s global experts and resources; and will develop a digital value-proposition that can enhance the experience of Dulux consumers in India.

SUSTAINABILITY: India’s world-famous Blue City has been repainted and refreshed by AkzoNobel as part of a major “Let’s Colour” project involving 250 homes. More than 5,600 liters of Dulux paint were used to revitalize the area surrounding the fort. The roofs of more than 100 houses have been coated with Dulux Weathershield Protect, which can help to reduce temperatures by up to 5˚C.