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EQUITY - MARKET SCREENER

Asian Paints Ltd
Industry :  Paints / Varnishes
BSE Code
ISIN Demat
Book Value()
500820
INE021A01026
169.6479073
NSE Symbol
P/E(TTM)
Mar.Cap( Cr.)
ASIANPAINT
51.24
273913.32
EPS(TTM)
Face Value()
Div & Yield %
55.73
1
0.9
 

asian paints ltd
Asian Paints gains as Q4 PAT jumps 45% YoY
May 11,2023
Profit before depreciation, interest, tax, other income and exceptional items (PBDIT) (before share of profit in associates) increased by 29.2% to Rs 1,864.8 crore in Q4 FY23 from Rs 1,443.3 crore reported in Q4 FY22.

Consolidated PBDIT margin as % to sales improved to 21.3% from 18.3% in the corresponding period of the previous year.

Profit before exceptional items and tax increased by 32.9% to Rs 1,734.5 crore from Rs 1,304.9 crore. Exceptional item represents impairment loss of Rs 24.7 crore on 'goodwill on consolidation', recognized on acquisition of Causeway Paints, Lanka.

International business sales decreased 2.7% in Q4 FY23 to Rs 794.4 crore from Rs 816 crore, on the back of economic uncertainty, forex crisis and liquidity issues in key markets of Asia and Africa. In constant currency terms, sales rose 9.9%. PBT before exceptional items was Rs 39.4 crore in Q4 FY23, higher than Rs 15.4 crore recorded in the corresponding period of previous year.

Bath fittings business sales declined 9.7% in Q4 FY23 to Rs 96.4 crore from Rs 106.8 crore in the last year due to subdued retail demand. PBDIT was Rs 1.1 crore in Q4 FY23 as against Rs 0.3 crores posted in Q4 FY22.

Kitchen business sales fell 21.1% in quarter ended 31 March 2023 to Rs 97.9 crore as compared to Rs 124.1 crore. PBDIT loss was Rs 7.4 crore in Q4 FY23 as against loss of Rs 1 crore registered in same period last year. The business continued to be impacted by weak retail demand.

Industrial business (Asian Paints PPG) sales jumped 17.2% in Q4 FY23 to Rs 289.6 crore from Rs 247.1 crore. PBT stood at Rs 32.9 crore in Q4 FY23 as against Rs 20.7 crore in the corresponding period of previous year.

For the financial year 2023, Asian Paints' consolidated net profit after minority interest increased by 35.5% to Rs 4,106.5 crores on 18.8% rise in sales to Rs 34,367.83 crore over the year ended March 2022.

Profit before exceptional items and tax marginally increased by 33.3% to Rs 5,737.7 crore in FY23 from Rs 4,303.4 crore in FY22.

PBDIT (before share in profit of associates) increased by 30.3% YoY to Rs 6,259.8 crore in the year ended 31 March 2023. PBDIT Margin as % to sales improved to 18.2% from 16.6% in the previous year.

On a standalone basis, Asian Paints' net profit rose 37.1% to Rs 1,233.73 crore on 12.4% increase in revenue to Rs 7,589.24 in Q4 FY23 over Q4 FY22. PBDIT grew by 28.2% year on year to Rs 1,747.6 crore during the quarter. Profit before exceptional item and tax rose 31.7% to Rs 1,654 crore in Q4 FY23 from Rs 1,256.3 crore recorded in Q4 FY22.

Amit Syngle, managing director & CEO of Asian Paints, “It has been an outstanding year for us with a 14% volume growth and 20% value growth in our standalone business and a net profit growth of 31%. Our growths in both the Industrial coatings have been stellar, growing double digits in volume and value, delivering one of the highest profits in the last 2 decades. Overall, at a consolidated level we crossed Rs. 34,000 crores revenue and along with our décor and services diversification, we are now the largest integrated player in Home Décor Business.”

He further stated, ‘In this quarter we have logged in the highest value ever, with the decorative and non-automotive Industrial businesses registering double digit volume and value growths. We have been able to improve our margins in the quarter sequentially and over last year through our persistent work on formulation and sourcing efficiencies and also helped by the easing inflation in raw material prices. In Home décor, our new categories of fabrics, decorative lighting, UPVC doors and windows did well, while Kitchen and bath were sluggish. The Global business was good in Middle East and Africa though but slower in Asia, however overall, delivered good bottom line numbers.”

Going forward, as a market leader, we will continue to aggressively pursue growth. Our performance will be driven by our consistent focus on customer centricity, innovation, sustained investment in B2B business coupled with our powerhouse brand, robust supply chain and distribution network,” Syngle added.

Meanwhile, the board recommended a final dividend of Rs 21.25 per equity share for the financial year ended 31 March 2023, subject to approval of the shareholders. The company has fixed Friday, 9 June 2023 as the record date and will be paid on or after Friday, 30 June 2023.

Asian Paints is India's leading paint company and ranked among the top ten Decorative coatings companies in the world. Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, bath fittings and providing related services.