Akzo Nobel India Limited

Akzo Nobel India announces Q3 2021-22 results

GurugramFeb 11th, 2022    

Akzo Nobel India announces Q3 2021-22 results

Today, the Board of Directors of Akzo Nobel India, a leading Paints and Coatings company and maker of Dulux Paints, announced the unaudited financial results for the quarter ended December 31, 2021.

Performance highlights

Q3 FY22 versus Q3 FY21

• Registers highest quarterly Revenue from operations at ₹ 914.3 crore, up 18%

• Price increase of ~17% versus same quarter last year

• EBIT from operations at ₹108.8 crore, Delivers double digit profitability at 11.9%

• Profit after tax (PAT) at ₹ 83.8 crore

Commenting on the quarter performance, Rajiv Rajgopal, Managing Director, Akzo Nobel India said,

“Akzo Nobel India has registered its highest ever quarterly revenue in Q3 FY22 with strong contribution coming from both businesses. In decorative paints, growth was aided by the healthy festive season and projects segment. We see a continued uptick across infrastructure, power, marine and real estate segments that propelled growth in coatings business.”

“This quarter, persistent raw material inflation headwinds continued to impact both businesses. However, pricing initiatives limited the margin dilution,” added Rajiv Rajgopal.

Dividend proposal

“The Board of Akzo Nobel India remains committed to creating value for its shareholders. Hence, based on the performance in the nine months ended 31st December 2021, the Board is delighted to announce an interim dividend of ₹ 40 per share for the year 2021-22,” said Mr. Oscar Wezenbeek, Chairman, Akzo Nobel India.

Recent highlights

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In another validation of its People. Planet, Paint approach of sustainable business, AkzoNobel India won the ‘Commendation for Significant Achievement in Corporate Social Responsibility’ in the CII-ITC Sustainability Awards 2021. Akzo Nobel India continues to strive and lead the industry by empowering people and local communities.

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