Asian Paints' net profit increased by 44%

12 May 2023 CW Team

Net consolidated total income for the company increased by 11.54 percent from 79730.6 million in the same quarter previous year to 8,8928.2 million in 04 FY23.

"We had a great year with a 14% volume growth, a 20% value rise in our standalone business, and a 31% increase in net profit. Because of our ongoing efforts to improve formulation and sourcing efficiency and the slowing inflation of raw material prices, we were able to increase our margins in the quarter both compared to the previous quarter and over the same period last year. Global business performed well overall, with the Middle East and Africa performing better than Asia, according to the company's managing director and CEO, Amit Syngle.

For the fiscal year that concluded on March 31, 2023, the board of directors recommended paying a final dividend of Rs 21.25 per equity share with a face value of Re 1.

With a dividend payout ratio of 60%, the total dividend for the fiscal year that ended on March 31, 2023, came to Rs. 25.65 per equity share with a face value of Re 1 each, including the interim dividend of Rs. 4.40 per equity share that was approved by the board of directors at their meeting on October 20, 2022, and paid later.

On January 11, 2023, the business established 'Asian Paints (Polymers),' a fully-owned subsidiary, for the production of vinyl acetate monomer and vinyl acetate ethylene emulsion in India. The company invested about $2,000,000,000 in the equity share capital of Asian Paints (Polymers) for the quarter and year ending March 31, 2023.

In FY23, the company's combined net sales totaled 343680 million. Consolidated net sales rose by 10.9% to Rs 8,7508 million in 04 FY23 from Rs 7,8899 million. By FY26, it intends for Home Décor revenue to account for 8–10% of the decorative business.

In the three months ending March 31, 2023, Asian Paints' net consolidated profit increased by 43.97%. The company reported in a BSE filing that its profit after tax increased to $1,2584.1 million in Q4 FY23 from $8740.5 million in the same quarter of the previous year. Net consolidated total income for the company increased by 11.54 percent from 79730.6 million in the same quarter previous year to 8,8928.2 million in 04 FY23. We had a great year with a 14% volume growth, a 20% value rise in our standalone business, and a 31% increase in net profit. Because of our ongoing efforts to improve formulation and sourcing efficiency and the slowing inflation of raw material prices, we were able to increase our margins in the quarter both compared to the previous quarter and over the same period last year. Global business performed well overall, with the Middle East and Africa performing better than Asia, according to the company's managing director and CEO, Amit Syngle. For the fiscal year that concluded on March 31, 2023, the board of directors recommended paying a final dividend of Rs 21.25 per equity share with a face value of Re 1. With a dividend payout ratio of 60%, the total dividend for the fiscal year that ended on March 31, 2023, came to Rs. 25.65 per equity share with a face value of Re 1 each, including the interim dividend of Rs. 4.40 per equity share that was approved by the board of directors at their meeting on October 20, 2022, and paid later. On January 11, 2023, the business established 'Asian Paints (Polymers),' a fully-owned subsidiary, for the production of vinyl acetate monomer and vinyl acetate ethylene emulsion in India. The company invested about $2,000,000,000 in the equity share capital of Asian Paints (Polymers) for the quarter and year ending March 31, 2023. In FY23, the company's combined net sales totaled 343680 million. Consolidated net sales rose by 10.9% to Rs 8,7508 million in 04 FY23 from Rs 7,8899 million. By FY26, it intends for Home Décor revenue to account for 8–10% of the decorative business.