Kansai Nerolac Paints Q1 results: Profit at Rs 111.38 cr
Paint

Kansai Nerolac Paints Q1 results: Profit at Rs 111.38 cr

Kansai Nerolac Paints Limited announced on Friday that its consolidated net profit for the first quarter ended June 2021 increased by more than threefold to Rs 111.38 crore.

Kansai Nerolac said in a BSE filing that the company made a net profit of Rs 29.64 crore in the April-June quarter last year.

Its total revenue from operations increased by more than two fold to Rs 1,397.20 crore in the current quarter, compared to Rs 631.37 crore in the previous year's corresponding three months.

H M Bharuka, Vice Chairman and Managing Director of Kansai Nerolac Paints told the media that the quarter got off to a fantastic start. With the announcement of the lockdown in several states at the end of April, demand in both Decorative and Industrial was impacted once more in April and May.

Once the restrictions were lifted in June, there was a surge in decorative demand. The demand for industrial goods has remained stifled.

Kansai Nerolac's total expenses were Rs 1,260.62 crore, up 108.18 % from Rs 605.53 crore in Q1 of FY 2021-22.

According to the company, raw material prices have continued to harden in recent quarters, resulting in extremely high inflation and supply constraints.

Kansai Nerolac told the media that the forex markets remained tumultuous. In Decorative, the company has raised prices in part. In the industrial sector, the company has raised prices and is continuing to do so to offset the impact of inflation. The company concentrated on selling a better product mix while maintaining an aggressive cost-cutting programme and prudent overhead management.

The drop in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) has been contained as a result of these actions.

Kansai Nerolac Paints Limited stock closed at Rs 626.10 on the BSE on Friday, up 1.11 % from the previous close.

Image Source

Kansai Nerolac Paints Limited announced on Friday that its consolidated net profit for the first quarter ended June 2021 increased by more than threefold to Rs 111.38 crore. Kansai Nerolac said in a BSE filing that the company made a net profit of Rs 29.64 crore in the April-June quarter last year. Its total revenue from operations increased by more than two fold to Rs 1,397.20 crore in the current quarter, compared to Rs 631.37 crore in the previous year's corresponding three months. H M Bharuka, Vice Chairman and Managing Director of Kansai Nerolac Paints told the media that the quarter got off to a fantastic start. With the announcement of the lockdown in several states at the end of April, demand in both Decorative and Industrial was impacted once more in April and May. Once the restrictions were lifted in June, there was a surge in decorative demand. The demand for industrial goods has remained stifled. Kansai Nerolac's total expenses were Rs 1,260.62 crore, up 108.18 % from Rs 605.53 crore in Q1 of FY 2021-22. According to the company, raw material prices have continued to harden in recent quarters, resulting in extremely high inflation and supply constraints. Kansai Nerolac told the media that the forex markets remained tumultuous. In Decorative, the company has raised prices in part. In the industrial sector, the company has raised prices and is continuing to do so to offset the impact of inflation. The company concentrated on selling a better product mix while maintaining an aggressive cost-cutting programme and prudent overhead management. The drop in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) has been contained as a result of these actions. Kansai Nerolac Paints Limited stock closed at Rs 626.10 on the BSE on Friday, up 1.11 % from the previous close. Image Source

Next Story
Infrastructure Urban

Cabinet Clears Rs 16 Billion Irrigation Upgrade Scheme

In a significant step towards enhancing water use efficiency in agriculture, the Union Cabinet chaired by Prime Minister Narendra Modi has approved the Modernization of Command Area Development and Water Management (M-CADWM) as a sub-scheme of the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2025–26. The scheme has received an initial outlay of Rs 16 billion. The M-CADWM aims to modernize irrigation infrastructure by facilitating pressurized underground piped irrigation systems from existing canals or other sources directly to farms up to 1 hectare. This upgrade will serve as a backen..

Next Story
Infrastructure Urban

EPFO Launches Face Authentication for Instant UAN via UMANG

In a significant digital push, the Employees’ Provident Fund Organisation (EPFO) has enabled Universal Account Number (UAN) generation and activation through Aadhaar-based Face Authentication Technology (FAT) on the UMANG mobile app. This step, under the Ministry of Labour and Employment, aims to simplify and digitise the UAN process for crores of Indian employees, ensuring real-time, error-free onboarding into the EPFO system. Digital Breakthrough for UAN Access Traditionally, UANs were generated by employers, often marred by data entry errors in names, mobile numbers, and birth dates. Th..

Next Story
Infrastructure Urban

India Launches First Panchayat Development Index

In a landmark step towards evidence-based rural development, the Ministry of Panchayati Raj has unveiled the first-ever Panchayat Advancement Index (PAI) baseline report for FY 2022-23. This tool, grounded in Sustainable Development Goals (SDGs), assesses the performance of over 2.5 lakh Gram Panchayats (GPs) across India, offering an unprecedented view of the nation's grassroots governance. The PAI maps each Panchayat’s progress across nine themes under Localized SDGs, including poverty alleviation, infrastructure, water sufficiency, child welfare, and women empowerment. With data from 2,1..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?