Paints

The company attributed the rise in gross revenues to a significant ramp-up in both decorative paints and industrial coatings businesses

Paint companies remain unperturbed with competition heating up

The company has also inaugurated three plants of Birla Opus at Panipat (Haryana), Ludhiana (Punjab) and Cheyyar (Tamil Nadu)

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

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

Consolidated net profit rose about 35% to 14.48 billion rupees ($174.15 million) in the quarter ended Dec. 31, it said in a filing

The company has also appointed Rohit Totla as sales and marketing director and designated India as the regional headquarters for South Asia, January 1, 2024 onwards

But lower commodity prices are likely to support margins

Specialty chemicals company Zydex Group is eyeing 15-20 per cent growth in revenues to Rs 375 crore from all its verticals including road, textile, agro, water proofing and paints in 2023-24 compared to previous fiscal year. Talking to PTI, Chairman and Managing Director Zydex Group Ajay Ranka said,"We are expecting 15 to 20 per cent revenue growth in all business verticals during 2023-24 compared to 2022-23." He said the company gets 35 per cent revenue from road vertical, 35 per cent from textiles, 10-12 per cent agro, 14-15 per cent from waterproofing and 3-4 cent from paints business. About the staggering impact of the pandemic (which hit in March 2020) on the businesses, Ranka said though market sentiments have improved, the textile sector is doing poor since October 2022. Rest of the sectors are however growing post pandemic. "Organic growth of the company is expected in the next two years beyond which inorganic growth will be looked into, once business verticals stabilize an

It was Ashwin Dani who pioneered the idea of computerised colour matching in the Indian paint industry

The size of the Indian paints & coatings industry is estimated to grow to Rs 1 lakh crore in the next five years from the present Rs 62,000 crore, said Akzo Nobel India. Besides, the margin for the paints & coatings industry will improve as in FY23, it witnessed softening of raw material prices from their previous highs, said the latest annual report of Akzo Nobel India, a leading player in the segment. "As raw materials account for approximately 55-60 per cent of the input costs, price corrections in crude oil and other essential components resulted in improved margins for the industry," it said. The industry has emerged as an attractive sector, by the entry of several new players in recent times, which are actively investing in infrastructure, technology, and marketing to establish their presence and capture a share of the market, it said. "This heightened competition has prompted existing players to further bolster their capabilities and differentiate themselves in order to

Kamdhenu Paints is targeting a four-fold jump in its revenues to Rs 1,000 crore over the next three years, its CMD Satish Kumar Agarwal said. In the financial year ended March 31, 2023, the company had earned a revenue of about Rs 251 crore, he told PTI. Kamdhenu Group recently separated its paints and steel business to increase its presence in the two segments in India. "We are looking a four-fold growth in the revenue to Rs 1,000 crore by the end of FY28. Last financial year 2023, the company has closed the revenue at Rs 251 crore," he said. Agarwal further said with the increasing demand for company products, Kamdhenu Paints is planning to enhance its market share in the south and western regions of the country by expanding product portfolio with the launch of new and innovative products. The company will further tap the markets in the north and east regions by increasing its dealers and distribution network to over 8,000 from 4,000 at present, he said. Kamdhenu has its paints

Under the flagship scheme, the state government is procuring cow dung at Rs 2 a kg

Asian Paints dominates nearly half of the domestic paints sector, and the decorative paint segment accounts for about 80% of the company's revenue

Kansai Nerolac Paints Ltd on Monday reported over five-fold growth in its consolidated net profit to Rs 96.24 crore for the fourth quarter ended March 2023. The company had posted a consolidated net profit of Rs 19.17 crore in the January-March period a year ago, Kansai Nerolac Paints Ltd (KNPL) said in a regulatory filing. Its revenue from operations surged 12.81 per cent during the quarter under review to Rs 1,733.59 crore. It was Rs 1,536.60 crore in the corresponding period last fiscal, it added. The total expenses were 7.61 per cent higher at Rs 1,618.08 crore compared to Rs 1,503.54 crore in Q4 FY22. KNPL's total income in the March quarter was at Rs 1,743.29 crore, up 13.52 per cent. KNPL Managing Director Anuj Jain said all businesses have done well in the March quarter. "Though raw material prices have softened, for the year, inflation is still positive. Judicious cost management efforts were continued. This along with various initiatives undertaken in previous quarters

Sales performance in the festival season was muted; volumes expected to recover

Paint makers are going beyond selling colour and are offering to do up your house themselves real quick without compromising on workmanship

Berger Paints India Ltd on Tuesday said it was monitoring the cost pressure in the wake of crude price hardening but will take a call after tracking the demand scenario. With crude oil trading above USD 100 per barrel owing to Russia's invasion of Ukraine, cost pressure will mount if the geopolitical uncertainties continue for a few months. "We are monitoring the situation closely but not raising the price in a haste. We will take a call after monitoring the demand scenario also. Price rise impacts volume demand," Berger Paints MD & CEO, Abhijit Roy, told PTI. Berger had hiked prices in the last one year to offset input cost inflation, the company said. Roy explained that out of the four major ingredients of making paints, one is linked to crude. It is the solvent binder, which is a derivative of crude. However, its price is more affected by demand-supply issues than the price of crude itself, he said. Overall, solvent binder forms about one-third of Berger's raw material ...

Paints and coatings maker Akzo Nobel India Ltd on Friday reported a 4.06 per cent decline in consolidated net profit to Rs 83.82 crore for the quarter ended December 2021

Favourable macros, market share gains for larger players, pent-up demand are key growth drivers