Asian Paints Ltd., a paints and coatings manufacturer based in India has reported financial results for the period ended March 31, 2022.
Q4 Results
The company’s net profit declined by 0.2% to Rs 8.5 billion for the period ended March 31, 2022 as against Rs 8.52 billion for the period ended March 31, 2021.
Net sales increased by 18.5% to Rs 79.73 billion during the period ended March 31, 2022 as compared to Rs 67.26 billion during the period ended March 31, 2021.
Full-Year Results
The company’s net profit fell by 3.5% to Rs 30.30 billion for the full-year period ended March 31, 2022 as against Rs 31.39 billion for the full-year period ended March 31, 2021.
The company has reported net sales of Rs 294.81 billion during the full-year period ended March 31, 2022, an increase of 33.9% as compared to Rs 220.15 billion during the full-year period ended March 31, 2021.
The company has reported EPS of Rs 31.59 for the full-year period ended March 31, 2022 as compared to Rs 32.73 for the full-year period ended March 31, 2021.
“It was yet another quarter of solid and strong double-digit value growth across all businesses, despite the prevailing uncertainty around Covid, macro-economic challenges and heightened geopolitical tensions,” Asian Paints Managing Director & CEO Amit Syngle said.
“The domestic decorative business grew strongly, registering 8% volume growth and 20% revenue growth on a high base, while international business managed to deliver double-digit revenue growth for the quarter despite severe challenges in key markets,” he added.
“The Industrial Coatings business closed the quarter with another round of robust double-digit revenue growth with continued momentum in the Protective Coatings segment. The scale-up in the Home Decor business continued unhindered, making further inroads through network expansion and introduction of unique value propositions for its customers,” Syngle said.
Asian Paints Ltd is mainly engaged in the business of manufacture and selling of paints and coatings.