Today, the Board of Directors of Akzo Nobel India Limitedapproved the unaudited financial results for the quarter and six months endingSeptember 30, 2021.
Performance highlights
Q2FY’22 versus Q2 FY’21
- Grows Revenue from operations22% over previous year to ₹740.8 crores
- EBIT from operations at ₹75.1 crores; Delivers double digit profitability at 10.1%
- Profit after Tax (PAT) at ₹55.7 crores
Commenting on the quarter performance,Rajiv Rajgopal, Managing Director, AkzoNobel India Limited said:
“Amidst an inflationary environment, Akzo Nobel India demonstrateditsGrow and Deliver ambitionwith sustained double-digit growth invalue and volume, across both businesses.We delivered strong growth across geographies, categories and segments. We mitigated the dilution of margins through a combination of pricing and cost control initiatives.”
He added, “The quarter witnessedunprecedented raw material inflation and supply chain disruptions and accordingly, margin management continues to be our focus.”
Mr. R Krishna has been appointed as a Wholetime Director and Chief Financial
Officer of the Company with effect from 01 December 2021. His appointment as
Wholetime Director will be subject to shareholders approval.
Ms. Harshi Rastogi will be stepping down from the Board as a Wholetime Director with effect from 01 December 2021. She will continue serving as the Company Secretary & Compliance Officer.
On behalf of the Board, Mr. Oscar Wezenbeek, Chairman, Akzo Nobel India expressed appreciation to Ms. Rastogi for her committed support during the interim period.
Recent highlights:
Dulux SuperClean range upgraded with newAnti-Viral properties
Dulux SuperClean*- Akzo Nobel India’spremium emulsion range with superior washability, is now upgraded with new anti-viral benefits.Powered by the Silver Ion TechnologyTM, the all new Dulux SuperClean Anti-Viral effectively works against certain virus** and aids to inhibit growth of certain bacteria** on walls. While the trusted KidProof+ Technology continues to protectagainst tough stains and enables easy cleaning of stains on walls; the new added value helps to actively protect the whole family against unseen viruses and bacteria.
* Dulux SuperClean range of interior and exterior paint emulsion includes Dulux SuperClean 3 in 1 and Dulux SuperClean
** Tested against human coronavirus NL-63 (99% efficacy) & MS2 Bacteriophage virus (97% efficacy). Not tested for COVID-19. Acts against certain bacteria. Virus / bacteria can also spread through other external / internal surfaces. Refer Product Data sheet for more details.
Super Premium wood coating Sadolin Luxurio PU launched
AkzoNobelrecently launched ‘Sadolin Luxurio PU’ – its debut PU (polyurethane) wood coating that merges the best of luxurious aesthetics with excellentperformance and protection. It comes packed with superiorbenefits including up to 7X protection, excellent scratch-stain-crack resistance,faster drying time and is available in both clear gloss and clear matt finishes.
Boosts skill development and D&I with New AkzoNobel Paint Academy in Delhi
Akzo Nobel India Limited in collaboration with National Small Industries Corporation (NSIC), a certified Government of India Enterprise under Micro, Small & Medium Enterprises inaugurated it’s all new Paint Academy in NSIC premises at Okhla, Delhi.The Delhi chapter aims to train 200 disadvantaged and less privileged youth in decorative painting in the first year. Noteworthy, that promoting diversity and inclusion, nearly 30% of the trainees will be women and youth including LGBT+ community.
We’ve been pioneering a world of possibilities to bring surfaces to life for well over 200 years. As experts in making coatings, there’s a good chance you’re only ever a few meters away from one of our products. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from the most sustainable paints company, which has been inventing the future for more than two centuries.
For more information please visit www.akzonobel.com.
About AkzoNobel India
AkzoNobel India has been present in India for over 60 years and is a significant player in the paints industry. In 2008, the company became a member of the AkzoNobel Group. With employee strength of around 1,500, AkzoNobel India has manufacturing sites, offices and a distribution network spread across the country. All manufacturing facilities have a state-of-the-art environmental management system. Its commitment to Health, Safety, Environment and Security (HSE&S) has been among the best-in-class globally, with due care being taken to protect people and the environment.
For more information please visit www.akzonobel.in
This media release contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report. www.akzonobel.com.
Company contacts
Investor Relations, AkzoNobel India:
Harshi Rastogi, investor.india@akzonobel.com ; +91-124-4852400
Country communications, AkzoNobel India
Namrata Pant, Namrata.pant@akzonobel.com ; +91-8800223380