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Asian Paints Announces Q3 FY2020-21 Results

Consolidated Revenue from operations for the quarter increases by 25.2%.

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

Asian Paints announced its financial results for the quarter and nine months ended Dec. 31, 2020.

“Demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year. The domestic Decorative business delivered a powerful performance with more than 30% volume growth led by a strong performance in premium and luxury portfolios,” said Amit Syngle, managing director and CEO, Asian Paints Limited. “The Home Décor foray of Asian Paints got a big fillip from a strong performance of the Home Improvement business. The Industrial coatings business delivered a robust performance, particularly in Protective coatings and Auto OE businesses which rebounded in a big way, benefited by resurgence in the industrial activity. The International business recorded a double-digit volume growth, strongly led by good growth in Asia and Middle East. Profitability across businesses has been well supported by a good sales mix and some excellent work in cost optimization and sourcing measures pursued strongly through innovation programs.”

Asian Paints Consolidated Results, Q3-FY’21
For the quarter ended Dec. 31, 2020, on consolidation of accounts of the subsidiaries and associate of Asian Paints – Revenue from operations has risen by 25.2% to ₹6,788.47 crores from ₹5,420.28 crores. Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share in profit of associates) increased by 50.3% to ₹1,787.89 crores from ₹1,189.39 crores. Profit Before Tax (from continuing operations) increased by 60.5% to ₹1,696.76 crores from ₹1,057.28 crores. Net Profit after Non- controlling Interest (from continuing operations) increased by 62% to ₹1,238.34 crores as compared to ₹764.43 crores in the previous corresponding period.

Asian Paints Consolidated Results, 9M-FY’21
For the nine months ended Dec. 31, 2020, Asian Paints Group Revenue from operations has decreased by 3.3% to ₹15,061.36 crores from ₹15,575.66 crores. PBDIT for the group (before share in profit of associates) has increased by 7.1% to ₹3,537.34 crores from ₹3,302.15 crores. Profit Before Tax (from continuing operations) increased by 7.3% to ₹3,148.04 crores from ₹2,934.77 crores. Net Profit after Non-controlling Interest (from continuing operations) increased by 2% to ₹2,287.16 crores as compared to ₹2,243.28 crores in the previous corresponding period.

Asian Paints Standalone Results, Q3-FY’21
For the quarter ended Dec. 31, 2020, Revenue from operations increased by 26.1% to ₹5,872.81 crores from ₹4,656.88 crores. PBDIT for the quarter increased by 48% to ₹1,654.18 crores from ₹1,117.91 crores. Profit Before Tax increased by 56.3% to ₹1,589.81 crores as compared to ₹1,017.42 crores in the previous corresponding period.

Asian Paints Standalone Results, 9M-FY’21
For the nine months ended Dec. 31, 2020, Revenue from operations decreased by 3.5% to ₹12,846.08 crores from ₹13,315.08 crores. PBDIT for the period increased by 6.2% to ₹3,270.77 crores from ₹3,081.21 crores. Profit Before Tax on a standalone basis increased by 6.8 % to ₹2,986.88 crores as compared to ₹2,796.77 crores in the previous corresponding period.
 
 

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