MUMBAI, India - Asian Paints Limited has announced its financial results for the quarter and year ended March 31, 2010.
P M Murty, Managing Director & CEO, commented on the results, “We have registered good growth for the quarter and the year with all the three business units, Decorative, Industrial and International, performing well. Benign raw material prices and appreciating rupee resulted in expansion of margins. Overall, the demand conditions for decorative as well as industrial paints segments appear positive. However, the inflationary trend observed in material prices is an area of concern and could lead to margin contraction. In April 2010, the company has commissioned its new paint manufacturing facility at Rohtak, Haryana with an initial capacity of 1,50,000 KL. Further the capacity of the Sriperumbudur Plant in Tamil Nadu has been increased to 1,40,000 KL.”
For the quarter ended March 31, 2010, sales and operating income has increased by 18.1 percent to Rs. 1296.09 crores from Rs. 1097.72 crores. Net profit on a stand-alone basis has increased by 91.3 percent to Rs. 177.04 crores from Rs. 92.54 crores.
For the year ended March 31, 2010, sales and operating income increased by 20.0 percent to Rs. 5125.08 crores from Rs. 4270.05 crores. Net profit on a stand-alone basis stood at Rs. 774.50 crores as compared to Rs. 362.36 crores in the previous year.