Mumbai, July 20, 2017: Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the first quarter of financial year 2017-18. For the quarter, the company declared gross sales of Rs. 1442.75 crores, marking a growth of 10.9 % over the same quarter of the previous year. Net Profit was Rs. 140.8 crores a growth of 11.3 % over the same quarter of the previous year.
Commenting on the results, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd said, “Company has registered a double digit growth in Decorative and Industrial. The effect of higher input costs is reflected in the profitability. On the cost front, availability and prices of key raw materials remains a challenge. The company has been able to transition to the new GST regime successfully. In the near term the impact of GST on the trade and automotive companies needs to be watched carefully. The good monsoon augurs well for demand going forward.”
Outlook of Indian Paint Industry:
The size of domestic paint industry is estimated at Rs 43000 crores as of Mar 2017. 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.
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