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Kansai Nerolac Paints Ltd Q1FY22 consolidated PAT at Rs. 114.09 crores
Posted On : 2021-07-30 15:36:56( TIMEZONE : IST )
KANSAI NEROLAC PAINTS LTD. has reported financial results for the period ended June 30, 2021.
Financial Results (Q1 FY 2021-22) - QoQ Comparison
The company has reported total income of Rs.1412.70 crores during the period ended June 30, 2021 as compared to Rs.1470.50 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.114.09 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.124.28 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.2.12 for the period ended June 30, 2021 as compared to Rs.2.31 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY20-21 | % Change |
| Total Income | ₹ 1412.70 crs | ₹ 1470.50 crs |  -3.93% |
| Net Profit | ₹ 114.09 crs | ₹ 124.28 crs | -8.2% |
| EPS | ₹ 2.12 | ₹ 2.31 | -8.23% |
Financial Results (Q1 FY 2021-22) - YoY Comparison
The company has reported total income of Rs.1412.70 crores during the period ended June 30, 2021 as compared to Rs.647.08 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.114.09 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.33.47 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.2.12 for the period ended June 30, 2021 as compared to Rs.0.62 for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 1412.70 crs | ₹ 647.08 crs |  118.32% |
| Net Profit | ₹ 114.09 crs | ₹ 33.47 crs | 240.87% |
| EPS | ₹ 2.12 | ₹ 0.62 | 241.94% |
Commenting on the results, Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said, “The quarter began on an extremely positive note. With the announcement of the lockdown across several states towards the end of April, demand was once again affected across both Decorative and Industrial in April and May. In June there was a revival in Decorative demand once the restrictions eased. Industrial demand continued to be impacted.
Continuing the trend of earlier quarters, raw material prices further hardened resulting in extremely high inflation coupled with tightness in supplies. Forex markets continued to be volatile. The company has partly increased prices in Decorative. In Industrial, also the company has increased prices and is making sustained effort to obtain price increases to offset the impact of inflation.
The company focused on selling a better product mix. It continued with the aggressive cost control program and judicious management of overheads. It is because of these steps that the drop in EBITDA has been contained.
Looking forward, with the vaccination program underway and a forecast of a good monsoon, demand should recover. Company would be aggressive in seeking price increases.
Outlook of Indian Paint Industry:
The size of domestic paint industry is estimated at around Rs. 55000 crores as of March 2021. The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run.
Shares of KANSAI NEROLAC PAINTS LTD. was last trading in BSE at Rs. 616 as compared to the previous close of Rs. 609.65. The total number of shares traded during the day was 8837 in over 844 trades.
The stock hit an intraday high of Rs. 623.05 and intraday low of 611. The net turnover during the day was Rs. 5455597.
