Kansai Nerolac Paints Ltd Announces Q3 Results FY 2015-2016

Chandigarh, January 25, 2016: Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the third quarter of financial year 2015-16. For the quarter, the company declared gross sales of Rs. 1177.30 crores, marking a growth of 11.3 % over the same quarter of the previous year. PBT was Rs.125.47 crores a growth of 32.1 % over the same quarter of the previous year. For the nine months, the company declared gross sales of Rs. 3541.48 crores marking a growth of 9 % over the same period of the previous year. For the nine months PBT was Rs 407.19 Crores a growth of 31.1 % over the same period of the previous year.



Commenting on the announcement, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd said, "During the quarter, KNP has seen high double digit volume and value growth in Decorative, however Industrial demand has been subdued and in single digit, due to the sluggishness in Automotive demand especially in 2 Wheelers. While the quarter saw a softening in crude oil prices, it is not significantly reflected in derivatives. Volatility in the exchange rate and depreciation of rupee has compounded this problem further. The company has consciously passed on what-ever benefit it has received to its customers. Going forward, the larger global sentiment and slowdown in China along with currency volatility is likely to impact consumer sentiment in the short to medium term. While there is visibility of double digit growth in Decorative, situation with respect to Industrial in the near future remains a challenge".



Outlook of Indian Paint Industry:



The size of domestic paint industry is estimated at Rs 35500 crores as of Mar 2015. The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry.



About Kansai Nerolac Paints Ltd:



Kansai Nerolac Paints has been at the forefront of paint manufacturing for more than 90 years pioneering a wide spectrum of quality paints. Kansai Nerolac is the second largest paint company in India and is the leader in Industrial segment, having a turnover of Rs 4212 crores. The company has five strategically located manufacturing units all over India and a strong dealer network across the country. The company manufactures a diversified range of products ranging from decorative paints coatings for homes, offices, hospitals and hotels to sophisticated industrial coatings for most of the industries. Please visit www.nerolac.com

Originally Source : Perfect Relations