Kolkata, July 22 2011:
Today, Akzo Nobel India Limited convened a board meeting to approve the unaudited accounts for the first quarter (ended June 30th) of the fiscal 2011-12.
Unaudited financial results - Performance Highlights:
AKZO NOBEL INDIA LIMITED (Q1 FY 2011-12 as compared to Q1 FY 2010-11)
Profit before tax (PBT) for the quarter is 845 million rupees as compared to a PBT of 594 million rupees; a growth of 42%
Profit after tax (PAT) for the quarter is 680 million rupees as compared to a PAT of 439 million rupees; a growth of 55%
Total revenue for the quarter is 3386 million rupees as compared to a total income of 2827 million rupees; a growth of 20%
Nihal Kaviratne, CBE, Chairman, Akzo Nobel India Limited
“During the fiscal 2010-11, Akzo Nobel India’s revenues grew by 16% with a marginal increase in net profit. There continues to be asteadfastimplementation of our strategy to invest our profits in building a platform for robust future growth.We are now in the process of engineering the next wave of development and progress. I am delighted that Akzo Nobel India is at the forefront of creating the differentiation that will bring value to the consumer.”
Amit Jain, Managing Director, Akzo Nobel India Limited
“In the first quarter of the fiscal 2011-12, Akzo Nobel India continued to maintain a revenue growth momentum of 20% riding on improved distribution and the successful launch of ‘Dulux Promise’ and ‘Dynacoat’.”
“The company protected margins by passing on high raw material inflation through successive price increases. Operating profit growth of 28% was supported by strong investment income.”
About Akzo Nobel India Limited:
Present in India for 100 years and a significant player in the Paints industry, the Company has primarily operated under the ‘Dulux’ brand name. Over the years, it witnessed sustained expansion, growth and transformation. In 2008, Akzo Nobel N.V. became owner of the entire equity share capital of Imperial Chemical Industries Ltd., by virtue of which the Company became a member of the AkzoNobel Group. Akzo Nobel India manufactures and markets paints and specialty chemicals. With employee strength of about 1100, Akzo Nobel India has manufacturing sites, offices and distribution network spread across the country. Its commitment to Health, Safety, Environment & Security (HSE&S) has been amongst the best in class globally, with due care being taken to protect the people and the environment.
About Akzo Nobel N.V.
AkzoNobel is the largest global paints and Coatings Company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are a Global Fortune 500 company and are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow’s Answers Today™. For more information please visit our website www.akzonobel.com
Country Communications, Akzo Nobel India:
Humsa Dhir, firstname.lastname@example.org; +91-98111 50207
Investor Relations, Akzo Nobel India:
R Guha, email@example.com; +91-124-2540400
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M: +91 98730 83212/ +91 97117 73885
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