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 fourth quarter and the full year ended 31 March 2023.
Financial Year ended 31 March 2023
Revenue from operations at ₹ 3,802.1 crore, up by 21%
• EBIT from operations at ₹ 442.6 crore, 24% up; delivers double digit profitability at 11.6%
• Profit after tax (PAT) at ₹ 335.1 crore, up by 16%
Q4 FY23 versus Q4 FY22
• Revenue from operations at ₹ 951.4 crore, up 10%
• EBIT from operations at ₹ 132.2 crore, up 32%
• Profit After Tax (PAT) at ₹ 95.4 crore, up 28%
Akzo Nobel India Managing Director, Rajiv Rajgopal, commented:
“In FY23 we delivered a record performance in absolute terms across revenue, gross margins and EBIT while continuing to build on our double-digit profitable journey while gaining market share.
In Q4, increased salience of new launches in premium category and network expansion in tier 3, 4 and 5 geographies led to growth in retail. Benefit of prior pricing actions and softening raw material prices, supported by cost management initiatives drove improved profitability - both sequentially and on a year-on-year basis.”
“Expressing its gratitude to shareholders, the Board of Akzo Nobel India proposed a final dividend of ₹ 40 per share, which is over and above the interim dividend of ₹ 25 per share. With this, the recommended total dividend for FY23 will be ₹ 65 per share”, said Mr. Oscar Wezenbeek, Chairman, Akzo Nobel India.
Dulux Professional Weathershield Elastomeric maintains the beauty of projects, for longer Boosted with the edge of advanced PU (Polyurethane) Technology, this high performance premium offering now provides a longer lasting 10-years protection to project exteriors from the damaging effects of weather and UV rays. In addition, it also addresses homeowners concerns by preventing wall dampness due to hairline cracks (upto 0.75mm), provides supreme protection from alkali attacks, fungal and algae formation.
Stunning and more sustainable Interpon Stone Effect powder coatings range launched
The new Interpon D2525 Stone Effect powder coatings is here to give a natural finish to aluminum girders, but without the practical challenges and costs that come with installing traditional materials. This super durable innovation is available in seven styles and offers up to 25-years warranty. This more sustainable solution is free of Volatile Organic Compounds (VOC) and is backed by an Environmental Product Declaration (EPD).
New digital campaign with ace Indian Olympian
The emotional film of Dulux Weathershield Powerflexx paid a tribute to the champion sportsperson, Anju Bobby George and her ‘Ghar ka Champion’. This narrative was driven by Dulux Weathershield Powerflexx’s improved brand promise of providing an even longer lasting 12-years assured protection of home exteriors against all-weather conditions.
Recognition for excellence in corporate social responsibility
Akzo Nobel India was conferred with the prestigious ‘Commendation for Significant Achievement’ in Corporate Social Responsibility at the prestigious 17th CII-ITC Sustainability Awards 2022. The award, presented by Mr. Nitin Gadkari, Hon’ble Union Minister, Road Transport and Highways is a testimont of our approach to sustainable business; and a validation of our focused societal actions in the three key areas of education, community healthcare and development through vocational skill training.