Asian Paints has announced an increase in the installed production capacity of its Khandala plant to 4,00,000 kiloliters (KL) per annum, up from the initial capacity of 3,00,000 KL per annum. This expansion aims to meet the medium-term capacity needs of the company.
Key Highlights:
- Capacity Expansion: Asian Paints invested approximately Rs 385 crore (Rs 3.85 billion) to increase the production capacity of the Khandala plant. This expansion was funded through internal accruals. The company received approval from the Maharashtra Pollution Control Board, Mumbai, indicating compliance with environmental regulations.
- Stock Performance: In the previous session on the Bombay Stock Exchange (BSE), Asian Paints’ stock closed 0.28% lower at Rs 3088.95. The total turnover for the session amounted to Rs 16.21 crore, with 0.53 lakh shares changing hands. The market capitalization of Asian Paints is stated to be Rs 2.96 lakh crore (Rs 2.96 trillion).
- Financial Results: In the second quarter (Q2), Asian Paints reported a consolidated net profit increase of 53.31% YoY to Rs 1,232.39 crore (Rs 1.23 trillion). However, sequentially, there was a decline of 21.74%. The consolidated revenue for the quarter was Rs 8,478.57 crore (Rs 84.78 billion), representing a 7.66% decline from the previous quarter (June quarter).