Commenting on the results, Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said,“Decorative segment has registered goodvolume and value growth in the given environment.This helped offset the continued and unprecedented slow-down in the automotive and other OEMs segmentswhere the company has a significant exposure. The company’s decorative sales were impacted due to factors like extended monsoon, floods in many key states and low off-take in Kashmir where KNP has a major presence. The company has been building traction in the niche business areas that the company is focusing on. Company was able to maintain growth in ARF, Protective Coating and Powder segments of the market. Our subsidiaries in Nepal and Bangladesh have done well.
During the quarter, input costs were stable and in line with the previous quarter trend.This along with judicious control on costs has helped improve the bottom-line. Exchange rate and crude oil prices continued to show volatilitycreating challenges in raw material cost management.Company commenced commercial operations at the Punjab plant. The company sees a slowdown in Decorative segment though it expects a revival once the unseasonal rains subside. Challenges of demand in Industrial are expected to continue for the near future.”
Clariants new collaborative innovation center supports North Americas paints and coatings industry Beyond Color
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