Jammu Tawi: 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 2022-23. For the quarter, the company earned Net revenue from operations of Rs. 1717.1 Crores, a growth of 1.4 % over the corresponding quarter of the previous year. EBIDTA was at Rs. 188.5 Crores, a de-growth of 10.2 % over Q3 of 2021-22.
PAT was at Rs. 112.3 Crore, a de-growth of 15.2 % over Q3 of 2021-22. Commenting on the results, Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The quarter witnessed good demand in Automotive coatings. Demand in Decorative was impacted on account of early Diwali, extended monsoons and higher than normal channel stocking due to price increases during Oct 21 & Nov21.
Raw material prices though softening is still being carefully monitored given the volatility in crude and forex coupled with Geopolitical changes. The company was able to conclude the price increases with all its key OEMs during the quarter which will help partly offset the high inflation witnessed over the last two years. The company initiated various measures to increase growth in decorative. The measures include increase in feet on street, digital interventions, network expansion, new product launches and brand strengthening. Judicious management of costs and overheads continued. Looking forward it is expected that demand would remain healthy in the short to medium term”.