Today, the Board of Directors of Akzo Nobel India Limited approved the financial results for the quarterand year ended March 31, 2019.
- Revenue from operations at ₹706 crores grew 3% over the previous year on acomparable basis
- Profit from operations at ₹99 crores grew 51% over the previous year
- Figures quoted relate to continuing operations
Profit from operations relate to continuing operations before exceptional items and tax
Q4 FY19 versus Q4 FY18
- Revenue from operations at ₹ 706 crore witnessed a growth of 3% on a comparable basis
- Profit from operations at ₹ 99 crore grew 51%
FY19 versus FY18
- Revenue from operations at ₹ 2,918 crore grew 5% on a comparable basis
- Profit from operations at ₹ 315 crore grew 12%
- Profit after Tax at ₹ 211 crore grew 3%
Amit Jain, Chairman, AkzoNobel India:
- Our transformation plans for creating a more fit-for-purpose organization are on track and I am gladthat the new management team is taking steps in the right direction to improve profitability as percompany’s strategy. Considering the performance of the company, the Board has recommended ahigher dividend of ₹ 24 per share which will be paid after the approval of the shareholders.
- As part of ‘AkzoNobel Cares’ program, we are proud to care for communities. We launched E-Health clinics in Begur and six adjoining villages of Hoskote (Bengaluru rural district) to provideaccess to healthcare to more than 1500 residents. This project won AkzoNobel’s Global ‘WinningTogether’ Award.
Rajiv Rajgopal, Managing Director, AkzoNobel India:
- We witnessed a strong growth in profitability led by improved product mix and effective cost management.
- The Company recently won the prestigious ‘Golden Peacock Innovative Product Award’ 2019 for its
premium exterior paint - Dulux Weathershield Flash, a first of its kind offering in the exteriors paint
category that combines the benefits of paint and primer.