Asian Paints announced a significant 43.7% drop in its consolidated net profit for the September quarter, totaling Rs 693.66 crore, down from Rs 1,232.39 crore in the same period last year. The decline was attributed to soft demand conditions, inflation in material prices, and a slowdown in the domestic decorative and coatings business.
Revenue from operations for the quarter fell by 5.3% to Rs 8,027.54 crore, compared to Rs 8,478.57 crore a year earlier. The company cited challenges with margins due to a weak demand environment, material price increases, and a shift in product mix. Total expenses for the period rose by 1% to Rs 7,093.03 crore, while total income, including other sources, decreased by 5.12% to Rs 8,201.09 crore.
CEO Amit Syngle noted the subdued demand in the paint industry during the quarter, with domestic decorative coatings experiencing a slight volume decline. He mentioned that while price hikes were implemented, the full effect would likely be seen in the second half of the year. Syngle remains optimistic, expecting margin recovery driven by a potential softening of material costs and recent price increases.
In the international market, sales declined by 0.7% to Rs 769.5 crore, impacted by economic slowdowns and currency devaluations in countries like Ethiopia, Egypt, and Bangladesh. However, in constant currency terms, international sales grew by 8.7%.
In a separate announcement, Asian Paints approved an interim dividend of Rs 4.25 per equity share for the financial year ending March 31, 2025. The company remains one of India’s leading paint and decor firms, with a global presence in 15 countries and 27 manufacturing facilities.
Asian Paints is India’s leading paint and decor company, renowned for its innovative products and solutions in the coatings industry. Established in 1942, the company has grown to become one of the top eight coatings companies globally, with a consolidated turnover of over Rs 35,000 crore.
Asian Paints operates in more than 15 countries, with a strong presence across 60+ countries and 27 manufacturing facilities worldwide. It offers a diverse range of products, including decorative paints, industrial coatings, and home improvement solutions.
Known for its commitment to quality and sustainability, the company continues to drive growth through technological advancements and a focus on customer-centric innovation. Despite facing market challenges, Asian Paints remains a dominant force in the global paint industry, serving both residential and commercial segments.
