“All the business segments continued to witness improving demand conditions on a progressive basis during the second quarter of this financial year. The Decorative business segment registered good volume growths for each of the months and therefore a healthy double-digit volume growth for the quarter with demand picking up across regions,” said Amit Syngle, managing director & CEO, Asian Paints Limited. “The other business segments in India including the two industrial coatings business and both the segments in the Home Improvement category also experienced improving trends in line with the phased-out re-opening of the economy. The International business portfolio did well supported by favorable market conditions in the Middle East, Africa and Asia, with the exception of Nepal, which continued to witness challenging business conditions due to the pandemic. Profitability across businesses was well supported by a better product mix, stable raw material prices, favorable foreign exchange rate and the large number of cost optimization measures put in place by the management.”
For the quarter ended Sept. 30, 2020, on consolidation of accounts of the subsidiaries and associate of Asian Paints – Revenue from operations has risen by 5.9 percent to ₹5,350.23 crores from ₹5,050.66 crores.
Profit before depreciation, interest, tax and other income (PBDIT) for the group increased by 32.5 percent to ₹1,265.20 crores from ₹954.82 crores.
Profit Before Tax (from continuing operations) increased by 34.4percent to ₹1,145.52 crores from ₹852.25 crores.
Net Profit after Non- controlling Interest (from continuing operations) increased by 0.5 percent to ₹830.37 crores as compared to ₹826.29 crores in the previous corresponding period.
PBDIT for the group has decreased by 17.2 percent to ₹1,749.45 crores from ₹ 2,112.76 crores.
Profit Before Tax (from continuing operations) decreased by 22.7 percent to ₹1,451.28 crores from ₹1,877.49 crores.
Net Profit after Non-controlling Interest (from continuing operations) decreased by 29.3 percent to ₹1,048.82 crores as compared to ₹1,483.80 crores in the previous corresponding period.
For the quarter ended Sept. 30, 2020, Revenue from operations increased by 5.8 percent to ₹4,526.71 crores from ₹4,278.04 crores.
Profit Before Tax increased by 33.7 percent to ₹1,060.10 crores as compared to ₹793.04 crores in the previous corresponding period.
For the six months ended Sept. 30, 2020, Revenue from operations decreased by 19.5 percent to ₹6,973.27 crores from ₹8,658.20 crores.
Profit Before Tax on a standalone basis decreased by 21.5 percent to ₹1,397.07 crores as compared to ₹ 1,779.35 crores in the previous corresponding period.
The Board of Directors approved the payment of an interim dividend of ₹3.35 per share (335percent).
The company distributed first interim dividend of ₹ 3.35 per share (335 percent) in October 2019 for FY 2019-20.
Total dividend of ₹12.00 per share (1,200 percent) was distributed for FY 2019-20. The dividend payout ratio was 51.1 percent for FY 2019-20.
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