Berger Paints India Q4 Results: Standalone net profit was down over 7% year-on-year at Rs 181.6 crore.
The company, the second largest player in the domestic paints sector, has also gained market share this year and expects its strong growth momentum to continue in the waterproofing and construction chemicals segment as well.
This year’s sales increased nearly 6% to 10.029 billion rupees, and operating profit soared more than 24% to 1.6717 billion rupees.
“We are confident of an enhanced demand scenario in the coming years and have been preparing for the same with the launch of several innovative new products in the paints, coatings and waterproofing segment to provide solutions tailored to the changing needs of our customers. said Abhijit Roy, Chief Executive Officer.
Earlier this year, Grasim Industries entered the paint industry with ‘Birla Opus’. The company said in February that it aims to become profitable over three years of operations and become the country’s second-largest company with sales exceeding 10 billion rupees. Meanwhile, Berger Paints India saw its sales increase by about 3% to Rs. While it recorded revenue growth of Rs 2,249.10 crore in the March quarter, its standalone net profit for the period fell over 7 per cent to Rs 181.6 crore. Nonetheless, volume growth was good, in double digits. “Value growth was negatively impacted by large price cuts of more than 4%. This year, the share of low-cost, high-volume products has increased and expectations of price cuts in the luxury segment have led to lower-than-expected sales in the luxury segment,” Roy said. The company’s operating profit was also low compared to the previous year. Until the previous year. This is due to a higher base due to one-time subsidies received in previous years, higher operating costs for new plants and higher advertising costs.
The company reported after-market earnings and its stock closed at ₹485.10 on the NSE, down nearly 2% from its previous close. The company also announced a dividend of ₹3.50 per share.
