Berger Paints: Q1 FY24 profit up 39.89%

11 Aug 2023 CW Team

Berger Paints has marked an impressive 39.89% surge in its net consolidated profit during the quarter ending on June 30, 2023. The company's profit after tax for Q1 FY24 amounted to $3.5491 billion, a remarkable increase from the $2.5371 billion registered in the corresponding quarter of the previous fiscal year, as stated in its BSE filing.

During Q1 FY24, the company's net consolidated total income stood at $30.4309 billion, signifying a substantial growth of 9.75% compared to the $27.7274 billion recorded in the analogous quarter of the previous year.

Abhijit Roy, MD and CEO of Berger Paints, expressed his satisfaction with the company's performance, highlighting the double-digit growth in both volume and value within the decorative business segment. Roy stated, "Our operating profit to sales % has also increased substantially to 18.8%, marking a growth of 37.5% and a 2-year CAGR of 52.5%. This Q1 performance has surpassed our typical operating profit range of 16-18%, reflecting the robust growth achieved. The decorative segment witnessed mid-teen volume growth and double-digit value growth."

The company's board of directors has given the nod for the issuance of one bonus equity share with a face value of Re 1 each for every five equity shares of the same face value.

As of June 30, 2023, Berger Paints' net worth stood at $46.1665 billion, with a debt-equity ratio of 0.16, a current liability ratio of 0.86, total debts to total assets ratio of 0.10, an operating margin of 16.21%, and a net profit margin of 11.91%. The company's Q1 performance exemplifies its commitment to consistent growth and financial stability.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..