Today, the Board of Directors of Akzo Nobel India Limited
approved the unaudited financial results of the company for the (third) quarter
ended December 31, 2012.
The current quarter’s performance is not directly comparable
with the corresponding quarter of the last financial year since the current
quarter reflects the performance of the recently merged company.
Unaudited Financial results - Performance Highlights
AKZO NOBEL INDIA LIMITED (Q3 FY 2012-13 as against Q3 FY
2011-12)
Net sales for the quarter is 5941 million rupees as
against 3688 million rupees; a QoQ growth of 61%
Earnings from Operations at 401 million rupees as against
210 million rupees; a QoQ growth of 90%
Other Income for the quarter at 241 million rupees against
155 million rupees, due to staggered maturity of investments.
Profit after tax (PAT) for the quarter is 506 million
rupees as against 293 million rupees; a QoQ increase of 73%.
Comments
Amit Jain, Managing Director, Akzo Nobel India:
“Innovative and value-added products launched across
coatings segments during the quarter helped drive revenue and margin growth.
Earnings from operations grew ahead of revenue due to the operational efficiency
initiative which is being implemented in key business units.”
About Akzo Nobel India Limited:
The Company was promoted by Imperial Chemical Industries
(ICI) Group of UK and has been present in India for over 100 years and a
significant player in the Paints industry. Over the years, it has witnessed
sustained expansion, growth and transformation. In 2008, Akzo Nobel N.V. became
owner of the entire equity share capital of ICI, UK., by virtue of which the
Company became a member of the AkzoNobel Group. Akzo Nobel India manufactures
and markets paints, coatings and specialty chemicals. In 2012, three AkzoNobel
Group companies in India, namely, Akzo Nobel Car Refinishes India Private
Limited, Akzo Nobel Chemicals (India) Limited, Akzo Nobel Coatings India
Private Limited got merged with Akzo Nobel India Limited, thereby expanding the
Company’s presence in a wide range of coatings covering Decorative, Powder,
Marine & Protective, Automotive & Aerospace, Coil & Specialty
Plastics.
Dulux is the most popular brand of its Decorative coatings
business while the Performance Coatings business provides solutions to many
industries and sectors including automotive, consumer electronics, power,
aviation, shipping & leisure craft, construction, oil & gas, water
& waste water, food & beverages, etc. Its chemicals business in India
sells more than 30 products grouped under organic peroxides, metal alkyls and
Polymer additives to pharmaceutical companies, polymer producers, composite
& rubber industry. Every year, we try and introduce new products in India
to further strengthen our position as an innovative specialty chemicals
company.
With employee strength of over 1700, 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.
