
Asian Paints Limited announced its Q3 FY25 results, showcasing declines across major financial metrics amid subdued demand and increased operating costs. The company reported consolidated net sales of ₹8,522 crores, reflecting a decline of 6.1% compared to ₹9,074.9 crores during the same quarter last year. Consolidated PAT (profit after tax) stood at ₹1,110.5 crores, down by 23.5% from ₹1,447.7 crores YoY.
Key Highlights:
- EBITDA: ₹16.37 billion vs ₹20.56 billion (YoY), marginally below the estimated ₹16.45 billion.
- Standalone Net Sales: ₹7,289 crores, down 7.5% YoY.
- Standalone PAT: ₹1,108.6 crores, a decline of 23.2% YoY.
Segment Performance:
- Decorative Business (India):
- The domestic decorative segment reported a volume growth of 1.6% but witnessed a revenue decline of 7.8%. Muted demand due to downgrading and a weak festive season heavily impacted performance.
- Industrial Business:
- Revenue grew by 3.8% YoY, driven by General Industrial and Refinish segments.
- Home Décor Business:
- The home décor business saw continued growth due to the network expansion strategy.
- Bath fittings: Sales increased by 2.6% YoY to ₹87.6 crores.
- Kitchen business: Sales grew 2.7% YoY to ₹102.7 crores.
- International Business:
- Revenue from international operations increased by 5% YoY to ₹818 crores, driven by growth in key markets such as the Middle East and Asia. On a constant currency basis, sales increased by 17.1%.
- PBT for international business improved to ₹60.8 crores vs ₹58.3 crores YoY.
- Standalone PBDIT Margin:
- Improved sequentially by 430 bps to 20.7%. However, it fell 350 bps YoY due to an inferior product mix and increased distribution expenses.
Detailed Financial Performance:
Metric | Q3 FY25 | Q3 FY24 | % Change YoY |
---|---|---|---|
Consolidated Net Sales | ₹8,522 Cr | ₹9,074.9 Cr | -6.1% |
Standalone Net Sales | ₹7,289 Cr | ₹7,883.3 Cr | -7.5% |
Consolidated EBITDA | ₹16.37B | ₹20.56B | -20.4% |
Consolidated PAT | ₹1,110.5 Cr | ₹1,447.7 Cr | -23.5% |
EBITDA Margin | 19.2% | 22.7% | -3.5% YoY |
CEO’s Statement:
Amit Syngle, Managing Director & CEO, commented on the results:
“The paint industry faced headwinds due to subdued demand in urban areas and weak festive season demand. Although we saw sequential improvements, adverse product mix and higher distribution costs weighed on operating margins. Despite challenges, our industrial and international segments showed encouraging growth, reflecting the resilience of our diversified portfolio.”
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