This multinational paint company achieves a 44 per cent rise in Q4 net profit!

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This multinational paint company achieves a 44 per cent rise in Q4 net profit!

As the season of financial results is on the company has reported excellent results and recommended a 2125 per cent dividend. 

In comparison to the same quarter last year, Asian Paints' net profit for the fourth quarter that ended on March 31, 2023, increased by 43.97 per cent to Rs 1,258.41 crore from Rs 874.05 crore on a consolidated basis. When compared to the same quarter last year, the company's total revenue climbed by 11.54 per cent to Rs 8,892.82 crore during Q4FY23 from Rs 7,973.06 crore. 

On a consolidated basis, the firm recorded a 36 per cent increase in net profit for the year ended March 31, 2023, from Rs 3084.81 crore to Rs 4195.33 crore. In the year under review, the company's total revenue climbed by 18.30 per cent to Rs 34,875.07 crore from Rs 29,481.29 crore for the year ended March 31, 2022. 

 For the fiscal year that concluded on March 31, 2023, the Board recommended paying a final dividend of Rs 21.25 per equity share with a face value of Rs 1 each which is 2125 per cent, subject to shareholder approval at the company's succeeding 77th Annual General Meeting. In FY23, the company has already distributed an interim dividend of Rs 4.40 per equity share. 

 

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Today the stock opened at Rs 3139 and closed at Rs 3131.30 and a total of 48,777 shares were traded over the counter. It has a 52-week high of Rs 3590 and a 52-week low of Rs 2560.25 with a market cap of more than three lakh crore. 

Asian Paints produces a variety of paints for both decorative and industrial applications. The company is active in all four decorative paints market segments: interior wall finishes, exterior wall finishes, enamels, and wood finishes. In addition, it has adhesives, wall coverings and waterproofing in its product line. The company is active in Kitchen and Bath fittings market under the brand Sleek and Essess respectively.