Kansai Nerolac Paints has reported a growth of 18.76 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 114.29 crore in Q4 FY24 as against Rs 96.24 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.The company’s net consolidated total income stood at Rs 1,801.92 crore in Q4 FY24, a growth of 3.36 per cent from Rs 1,743.29 crore it recorded in the similar quarter last year.
Anuj Jain, managing director of the company said, “Decorative once again recorded double digit volume growth. Raw material prices were stable. Gross margins improved over the corresponding quarter last year due to the benign raw material cost.”
The board of directors have recommended dividend of 375% (Rs. 3.75 per share) which includes special dividend of 125% (Rs. 1.25 per share) for the financial year ended March 31, 2024, as compared to the dividend of 270% (Rs. 2.70 per share) paid for the financial year ended March 31, 2023.
The board also approved increasing the capacity of industrial alkyd and polyester Resin at Sayakha plant of the company by 460 MT/month with an investment of Rs 20.1 crore and increasing capacity of Acrylic Resin at Bawal plant of the company by 390 MT/month with an investment of Rs 29.4 crore.