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AkzoNobel India Q2 FY16 unaudited financial results press release

21 October 2015

Total revenue at ₹657cr; up by 8%
Operating profit at ₹46 cr; up by 14%

Today, the Board of Directors of Akzo Nobel India Limited approved the unaudited financial results for the quarter and six months ended September 30, 2015.

Performance highlights:

Q2 FY16 versus Q2 FY15

  • Total revenue at ₹657 crore as compared to ₹607 crore of the corresponding quarter of the previous year; a growth of 8%
  • Operating Profit at ₹46 crore as compared to ₹40 crore of the corresponding quarter of the previous year; a growth of 14%
  • Profit after tax (PAT) at ₹41 crore as compared to ₹36 crore of the corresponding quarter of the previous year; a growth of 15%

Comments

Jayakumar Krishnaswamy, Managing Director, AkzoNobel India:

“In line with the company’s strategy of achieving profitable growth, all business segments have continued their focus in strengthening their products through innovation, brands and distribution. This is reflected in an increase in demand for the company’s products despite the scarce monsoon, driving healthy growth in revenue and profit in this quarter”.

“With a heightened impetus on innovation, the quarter saw introduction of Rainproof and ColourGuard technologies reflecting the company’s strengths in offering superior value proposition to its customers.”

About AkzoNobel India

Present in India for over 60 years and a significant player in the paints industry. Over the years, it has witnessed sustained expansion, growth and transformation. In 2008, the Company became a member of the AkzoNobel Group.

AkzoNobel India manufactures and markets a wide range of coatings covering Decorative paints Protective coatings and Specialty Chemicals. We provide solutions to many industries and sectors including automotive, consumer electronics, power, aviation, shipping and leisure craft, construction, oil and gas, water and waste water, food and beverages, etc. We supply industries and consumer 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 Interpon. Our employee strength is close to 1800.

AkzoNobel India has manufacturing sites, offices and distribution network spread across the country. All manufacturing facilities have state-of-art environmental management system. 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.

Company Contacts

Investor Relations, AkzoNobel India:
R Guha, investor.india@akzonobel.com; +91-124-2540400

Country Communications, AkzoNobel India:
Joya Ahluwalia, joya.ahluwalia@akzonobel.com; +91-124-4852400

Safe Harbor Statement:

This press release may contain statements which address such key issues as Akzo Nobel’s growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ materially from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures.