Akzo Nobel India Limited

AkzoNobel India announces Q2 2021-22 results

GurugramNov 12th, 2021    

AkzoNobel India announces Q2 2021-22 results

Today, the Board of Directors of Akzo Nobel India Limited approved the unaudited financial results for the quarter and six months ending September 30, 2021.

Performance highlights

Q2 FY’22 versus Q2 FY’21

• Grows Revenue from operations 22% over previous year to ₹740.8 crores

• EBIT from operations at ₹75.1 crores; Delivers double digit profitability at 10.1%

• Profit after Tax (PAT) at ₹55.7 crores

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

“Amidst an inflationary environment, Akzo Nobel India demonstrated its Grow and Deliver ambition with sustained double-digit growth in value and volume, across both businesses. We delivered strong growth across geographies, categories and segments. We mitigated the dilution of margins through a combination of pricing and cost control initiatives.”

He added, “The quarter witnessed unprecedented raw material inflation and supply chain disruptions and accordingly, margin management continues to be our focus.”

Mr. R Krishna has been appointed as a Wholetime Director and Chief Financial Officer of the Company with effect from 01 December 2021. His appointment as Wholetime Director will be subject to shareholders approval.

Ms. Harshi Rastogi will be stepping down from the Board as a Wholetime Director with effect from 01 December 2021. She will continue serving as the Company Secretary & Compliance Officer.

On behalf of the Board, Mr. Oscar Wezenbeek, Chairman, Akzo Nobel India expressed appreciation to Ms. Rastogi for her committed support during the interim period.

Recent highlights:

Dulux SuperClean range upgraded with new Anti-Viral properties

Dulux SuperClean* - Akzo Nobel India’s premium emulsion range with superior washability, is now upgraded with new anti-viral benefits. Powered by the Silver Ion TechnologyTM, the all new Dulux SuperClean Anti-Viral effectively works against certain virus** and aids to inhibit growth of certain bacteria** on walls. While the trusted KidProof+ Technology continues to protect against tough stains and enables easy cleaning of stains on walls; the new added value helps to actively protect the whole family against unseen viruses and bacteria.
* Dulux SuperClean range of interior and exterior paint emulsion includes Dulux SuperClean 3 in 1 and Dulux SuperClean
** Tested against human coronavirus NL-63 (99% efficacy) & MS2 Bacteriophage virus (97% efficacy). Not tested for COVID-19. Acts against certain bacteria. Virus / bacteria can also spread through other external / internal surfaces. Refer Product Data sheet for more details.

Super Premium wood coating Sadolin Luxurio PU launched

AkzoNobel recently launched ‘Sadolin Luxurio PU’ – its debut PU (polyurethane) wood coating that merges the best of luxurious aesthetics with excellent performance and protection. It comes packed with superior benefits including up to 7X protection, excellent scratch-stain-crack resistance, faster drying time and is available in both clear gloss and clear matt finishes.

Boosts skill development and D&I with New AkzoNobel Paint Academy in Delhi

Akzo Nobel India Limited in collaboration with National Small Industries Corporation (NSIC), a certified Government of India Enterprise under Micro, Small & Medium Enterprises inaugurated it’s all new Paint Academy in NSIC premises at Okhla, Delhi. The Delhi chapter aims to train 200 disadvantaged and less privileged youth in decorative painting in the first year. Noteworthy, that promoting diversity and inclusion, nearly 30% of the trainees will be women and youth including LGBT+ community.