AkzoNobel India announces full year results for 2018-19

Gurugram,  May 03 2019    

AkzoNobel India announces full year results for 2018-19

Today, the Board of Directors of Akzo Nobel India Limited approved the financial results for the quarterand year ended March 31, 2019.


Performance Highlights

Q4 FY19
  •    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

  • Note:
  •    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%


Comments

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.