Total revenue at ₹2740 crore – up 8%. Operating profit at ₹251 crore – up 20%.
Today, the Board of Directors of Akzo Nobel India Limited approved the audited financial results for the quarter and year ended March 31, 2016.
Performance highlights:
Quarter ended 31 March 2016
- Total revenue from operation is at ₹677 crore as compared to ₹592 crore of the previous year – growth of 14%
- Profit from operations is at ₹73 crore as compared to ₹48 crore of the previous year – growth of 52%
- Profit after tax (PAT) is at ₹53 crore as compared to ₹45 crore of the previous year – growth of 18%
Year ended 31 March 2016
- Total revenue from operation is at ₹2740 crore as compared to ₹2527 crore of the previous year – growth of 8%
- Profit from operations is at ₹251 crore as compared to ₹209 crore of the previous year – growth of 20%
- Profit after tax (PAT) is at ₹202 crore as compared to ₹186 crore of the previous year – growth of 8%
Comments:
Nihal Kaviratne CBE, Chairman, AkzoNobel India:
“2015-16 has been a successful year for AkzoNobel India with the company achieving robust revenue and profit growth. To mark our fifth year anniversary as a merged entity, it gives me immense pleasure to announce that the board has recommended a special dividend of INR 50 in addition to the normal dividend of INR 20 per share. This is in line with the company’s philosophy of sharing the benefits of its performance and growth with its shareholders on a continual basis.”
Jayakumar Krishnaswamy, Managing Director, AkzoNobel India:
“In a challenging environment, we saw growth momentum picking up in the latter half of the year. Q4 was strongest with a revenue growth of 14% and profit from operations growing by 52% over last year. The company posted revenue and operating profit growth of 8% and 20% respectively for FY 2015-16.”
“We were able to leverage our principal strengths of essential ingredients, essential protection and essential colour across our businesses to etch out a robust footing for our business as we proceed into a new financial year. Improving resource utilisation and driving the sustainability agenda have been the cornerstone of our endeavours, running through all the stages of our business.”
About AkzoNobel India:
AkzoNobel creates everyday essentials to make people’s lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential colour to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Consistently ranked as a leader in sustainability, we are dedicated to energizing cities and communities while creating a protected, colourful world where life is improved by what we do.
AkzoNobel India has been present in India for over 60 years and is a significant player in the paints industry. In 2008, the company became a member of the AkzoNobel Group. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Interpon. With employee strength of close to 1900, AkzoNobel India has manufacturing sites, offices and distribution network spread across the country. All manufacturing facilities have state-of-art environmental management system. Its commitment to Health, Safety, Environment & Security (HSE&S) has been amongst the best in class globally, with due care being taken to protect the people and the environment.
Company Contacts:
Investor Relations, AkzoNobel India:
R Guha, investor.india@akzonobel.com; +91-124-2540400
Corporate Communications, AkzoNobel India:
Joya Ahluwalia, joya.ahluwalia@akzonobel.com; +91-124-4852511
Safe Harbour Statement:
This press release contains statements which address such key issues as Akzo Nobel’s growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ materially from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures.