Asian Paints' net profit increased by 44%
12 May 2023
2 Min Read
CW Team
In the three months ending March 31, 2023, Asian Paints' net consolidated profit increased by
43.97%. The company reported in a BSE filing that its profit after tax increased to $1,2584.1 million
in Q4 FY23 from $8740.5 million in the same quarter of the previous year.
Net consolidated total income for the company increased by 11.54 percent from 79730.6 million in
the same quarter previous year to 8,8928.2 million in 04 FY23.
"We had a great year with a 14% volume growth, a 20% value rise in our standalone business, and a
31% increase in net profit. Because of our ongoing efforts to improve formulation and sourcing
efficiency and the slowing inflation of raw material prices, we were able to increase our margins in
the quarter both compared to the previous quarter and over the same period last year. Global
business performed well overall, with the Middle East and Africa performing better than Asia,
according to the company's managing director and CEO, Amit Syngle.
For the fiscal year that concluded on March 31, 2023, the board of directors recommended paying a
final dividend of Rs 21.25 per equity share with a face value of Re 1.
With a dividend payout ratio of 60%, the total dividend for the fiscal year that ended on March 31,
2023, came to Rs. 25.65 per equity share with a face value of Re 1 each, including the interim
dividend of Rs. 4.40 per equity share that was approved by the board of directors at their meeting
on October 20, 2022, and paid later.
On January 11, 2023, the business established 'Asian Paints (Polymers),' a fully-owned subsidiary, for
the production of vinyl acetate monomer and vinyl acetate ethylene emulsion in India. The company
invested about $2,000,000,000 in the equity share capital of Asian Paints (Polymers) for the quarter
and year ending March 31, 2023.
In FY23, the company's combined net sales totaled 343680 million. Consolidated net sales rose by
10.9% to Rs 8,7508 million in 04 FY23 from Rs 7,8899 million. By FY26, it intends for 亚博体育官网首页 D茅cor
revenue to account for 8鈥�10% of the decorative business.
In the three months ending March 31, 2023, Asian Paints' net consolidated profit increased by
43.97%. The company reported in a BSE filing that its profit after tax increased to $1,2584.1 million
in Q4 FY23 from $8740.5 million in the same quarter of the previous year.
Net consolidated total income for the company increased by 11.54 percent from 79730.6 million in
the same quarter previous year to 8,8928.2 million in 04 FY23.
We had a great year with a 14% volume growth, a 20% value rise in our standalone business, and a
31% increase in net profit. Because of our ongoing efforts to improve formulation and sourcing
efficiency and the slowing inflation of raw material prices, we were able to increase our margins in
the quarter both compared to the previous quarter and over the same period last year. Global
business performed well overall, with the Middle East and Africa performing better than Asia,
according to the company's managing director and CEO, Amit Syngle.
For the fiscal year that concluded on March 31, 2023, the board of directors recommended paying a
final dividend of Rs 21.25 per equity share with a face value of Re 1.
With a dividend payout ratio of 60%, the total dividend for the fiscal year that ended on March 31,
2023, came to Rs. 25.65 per equity share with a face value of Re 1 each, including the interim
dividend of Rs. 4.40 per equity share that was approved by the board of directors at their meeting
on October 20, 2022, and paid later.
On January 11, 2023, the business established 'Asian Paints (Polymers),' a fully-owned subsidiary, for
the production of vinyl acetate monomer and vinyl acetate ethylene emulsion in India. The company
invested about $2,000,000,000 in the equity share capital of Asian Paints (Polymers) for the quarter
and year ending March 31, 2023.
In FY23, the company's combined net sales totaled 343680 million. Consolidated net sales rose by
10.9% to Rs 8,7508 million in 04 FY23 from Rs 7,8899 million. By FY26, it intends for 亚博体育官网首页 D茅cor
revenue to account for 8鈥�10% of the decorative business.
Next Story
MoHUA Plans New Role for Smart City SPVs
In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..
Next Story
ADB Approves $110 Million Loan to Boost Skills in Gujarat
The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..
Next Story
SDAL Tests Rudrastra UAV and Bhargavastra Defence System
Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..
