Paint

Paints and coatings maker Akzo Nobel India Ltd on Tuesday reported a 16.83 per cent increase in its consolidated net profit to Rs 113.8 crore in the December quarter, helped by a double-digit growth in volumes and raw material deflation. The company posted a net profit of Rs 97.4 crore during the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations grew 4.65 per cent to Rs 1,032.7 crore during the quarter under review. It was Rs 986.8 crore in the corresponding period of the previous fiscal. Total expenses of Akzo Nobel, maker of Dulux paints, rose 2.53 per cent to Rs 889.6 crore in the December quarter. Akzo Nobel's total income in the third quarter was Rs 1,041.1 crore, up 4.19 per cent. "For the first time, our quarterly topline has surpassed the milestone of Rs 1,000 crore mark, led by double-digit growth in volumes. Our Coatings business and B2B segments sustained their robust growth trajectory," its Chairman and Managing Director

Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year. Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a regulatory filing. Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year. "The quarter witnessed strong growth on the volume front and robust increase in operating profits," Berger Paints MD & CEO Abhijit Roy said. The growth rates in tier 2 and tier 3 cities were higher than that of tier 1 cities, he said. The paint maker continued with its "aggressive growth" in the waterproofing and construction chemicals segment. "New product introductions were made in the sealants and roof waterproofing category to fortify

The company, owned by Japan's Kansai Paint Co, said consolidated net profit rose 40% year-over-year to 1.54 billion rupees ($18.5 million) in the third quarter

Paint manufacturing from cow dung was started in selective Gauthans (cattle-sheds) set up by the state government under the scheme

Higher advertising costs and demand worries could put pressure on profitability

This move by JSW Paints comes after CCI disposed off JSW Paints plea which stated that Asian Paints blocked its entry in the decorative paints segment

Listed paint companies could report over 30 per cent revenue growth year-on-year (YoY), aided by double-digit volume growth in decorative paints and cumulative gains from pricing action

The Da Vinci painting, though, is among the works that have come under attack most frequently

The Aditya Birla Group has said it will set up a paint unit in West Bengal at an investment of around Rs 1,000 crore, and it will be comissioned in the next 18-24 months. In a recent letter to Chief Minister Mamata Banerjee, the conglomerate had expressed interest to establish a paint manufacturing unit in the state, following which three representatives of the group met Chief Secretary H K Dwivedi on Thursday afternoon, officials said. The group has requested for allotment of land for a decorative paint unit with backward integration on 80 acres of land at Vidyasagar Park in Kharagpur, they said. The paint unit itself would provide employment for 600 people and indirect employment for over 1500 people would be created, a state government official said. Reacting to the development, West Bengal Industry Minister Partha Chatterjee said it is a good sign that the process of industrialisation is gaining pace in the state under the leadership of Mamata Banerjee. The investment promotio

Berger is also growing its international presence, major contributor to the growth would be the India market and drivers would be the decorative, protective, construction chemicals segments

Stable prices of other inputs and pricing power should protect margin profile, say analysts

Asian Paints and Berger Paints surged 6%, while Shalimar Paints and Kansai Nerolac Paints up 4% on the BSE.