Asian Paints Q2 consolidated net up 40%

Mumbai, October 30, 2006: Asian Paints today announced their financial results for the quarter and six months ended September 30, 2006.

Asian Paints Consolidated Results, Q2-FY'07:

For the quarter ended September 30, 2006, on consolidation of accounts of the subsidiaries and joint venture of Asian Paints "� Net Profit of the Group has increased by 39.8% to Rs. 827 million from Rs. 592 million over the previous corresponding quarter. Sales & Operating Income has risen by 26.2% to Rs. 9981 million from Rs. 7907 million. Profit before depreciation interest and tax (PBDIT) for the group has increased by 24.9 % to Rs. 1438 million from Rs. 1152 million. Profit before Tax after goodwill has increased by 28.7 % to Rs. 1239 million from Rs. 963 million.

"In the six months to date, we have registered good growth in all segments of decorative coatings and across all regions of the country. An early Diwali, and a price increase from 1st October that increased dealer stocking have also impacted sales in the first half", said Ashwin Dani, Vice Chairman & Managing Director, Asian Paints Limited. "International business unit also recorded good growth backed by a strong performance of the Middle East region." he added.

The Board of Directors recommended the payment of an interim dividend of Rs. 5.50 per share (55%). The company distributed an interim dividend of 45% for H1- FY 2006. Total dividend of 125 % was distributed in FY 2006 including one-time special dividend of 25%. The dividend payout ratio was 73.2% in FY2006.

Asian Paints Consolidated Results, H1-FY'07:

For the six months ended 30 September 2006, Asian Paints group "� Sales & operating Income has increased by 22.2% to Rs. 17754 million from Rs. 14533 million. Profit before depreciation interest and tax (PBDIT) for the group has increased by 25.4% to Rs. 2533 million from Rs. 2020 million. Profit before Tax after goodwill has increased by 30.6% to Rs. 2151million from Rs.1647 million. Net profit after minority interest has increased by 38.9% to Rs. 1430 million from Rs. 1029 million.

Asian Paints Standalone Results, Q2-FY'07:

For the quarter ended September 30, 2006, Net Profit on a standalone basis increased by 26.8% to Rs. 776 million from Rs. 612 million. Net Sales increased by 26.8% to Rs. 7849 million from Rs.6192 million. PBDIT for the quarter increased by 21% to Rs. 1304 million from Rs. 1077 million.

Asian Paints Standalone Results, H1-FY'07:

For the six month period ended September 30, 2006, Net Profit on a standalone basis increased by 28.5% to Rs. 1356 million from Rs. 1055 million. Net Sales increased by 22.9% to Rs. 13883 million from Rs.11292 million. PBDIT for the period increased by 23.6% to Rs. 2307 million from Rs. 1866 million.

About Asian Paints:

Asian Paints is India's largest paint company with a group turnover of INR 30.2 billion (USD 680 million). Asian Paints along with its subsidiaries has operations in 22 countries across the world and 30 manufacturing facilities, servicing consumers in 65 countries through Berger International, SCIB Paints-Egypt, Asian Paints, Apco Coatings and Taubmans. The company has an enviable reputation in the corporate world for professionalism, fast track growth and building shareholder equity.