Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the second quarter of financial year 2017-18. For the quarter, the company declared sales of Rs. 1288 Crores and sales of Rs. 2731 crores for half year.
Government of India has implemented Goods and Service Tax (‘GST’) from 1st July, 2017. GST replaced Excise duty, Service Tax and various other indirect taxes. As required by Ind AS and SEBI Listing Agreement, revenue for the quarter ended 30th June, 2017 and 30th September, 2016 and year ended 31st March, 2017 were and are reported inclusive of Excise Duty. However, revenue for the quarter ended 30th September, 2017 is reported net of GST. Had the previously reported revenues been regrouped (netted off with excise duty), revenue growth of the Company would have been 16.2 % for the quarter and 14.1 % for half year.
EBIDTA was Rs. 221.3 crores a growth of 11.6 % over the same quarter of the previous year. For the first six months, EBIDTA was Rs. 428.6 Crores a growth of 11.3 % over the same period of the previous year.
Commenting on the results, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd said, “Company has continued to register a double digit volume growth led by Decorative. All segments have done well. This quarter the effect of de-stocking by trade due to GST and preponement of sales due to a early Diwali were visible. The continued effect of higher raw material prices is continuing. The company is hopeful that with the implementation of GST and its broader acceptance coupled with a good monsoon, demand should be healthy across segments. Raw material prices and availability will continue to remain a concern due to larger geo political issues.”
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.
Clariants new Dispersogen® Flex 100 now the only choice for superior and sustainable pigment preparations
DSM Engineering Materials launches 100 Percentage bio-based Stanyl® with halved carbon footprint and same high performance to empower customer sustainability
Unique value chain collaboration Design4Circularity achieves first circular cosmetics packaging concept
The new Heubach Group, a global provider of comprehensive color solutions, is expanding its well-known Colanyl 500 pigment preparations range with Colanyl Orange H5GD 500 to better illustrate brilliant orange color shades. The new addition to the portfolio makes customers’ lives easier when facing challenges with the stability of Pigment Orange 62 in waterborne applications. Read More
Clariant, a leading global provider of specialty chemicals, has launched its first universal polymeric dispersing agent for high quality pigment preparations that can incorporate organic and inorganic pigments and can be used for all types of water-based paint systems. In addition, waterborne pigment preparations with Dispersogen Flex 100 can also be compatible with solvent-borne base paint systems. Read More
DSM Engineering Materials announces the launch of a new, more sustainable version of its flagship product Stanyl®: Stanyl® B-MB (Bio-based Mass Balanced), with up to 100% bio-based content. Using the maximum possible levels of biomass-waste feedstock, it enables DSM Engineering Materials to halve the carbon footprint of this product line and, in turn, of the Stanyl® B-MB-based products of its customers. This industry-first launch of a 100% bio-based high-temperature polyamide underlines the busi Read More
Clariant now offers a natural-derived, readily biodegradable opacifier to support Personal Care formulators in minimizing the impact of shampoos, conditioners, handwashes and other rinse-off shower and bath products on marine and river life. New Plantasens OP 95 is a microplastic-free option which delivers powerful opacifying performance even at low concentrations, for a creamy white appearance with luxurious, caring consumer appeal for shampoos and liquid soaps. Read More
Moving circular plastic packaging forward. In a first and unique collaboration for the Personal Care industry, Clariant, Siegwerk, Borealis, and Beiersdorf are combining expertise to tackle the challenge of creating recyclable consumer packaging, based on 100% retrieved plastic packaging waste, for cosmetics applications. The pioneering initiative, named "Design4Circularity", is providing innovations and insights for the different design aspects to encourage others to also follow design for circ Read More