Akzo Nobel India witnessed a 44 percent year-on-year (YoY) surge in net profit, reaching Rs 94.2 crore for the September quarter of the current financial year. The company’s revenue also saw a 3 percent YoY increase, reaching Rs 956.3 crore. In an exchange filing, Akzo Nobel India reported that its earnings before interest, tax, and depreciation (Ebitda) showed a 39 percent YoY rise, amounting to Rs 120.9 crore.
Rajiv Rajgopal, the managing director, attributed the improvement in gross margins to reduced raw material costs and a favorable product mix. Operating leverage and productivity gains further contributed to a double-digit increase in profitability.
While the coatings business and the B2B segment experienced robust growth, retail sales remained subdued due to weakening demand and unpredictable rainfall patterns. The company introduced “Dulux Weathershield Protect Rainproof” paint, designed for regions with high humidity and heavy rainfall, offering protection against rain, dust, sunlight, fungus, and algae.
Akzo Nobel India’s stock price increased by 3.24 percent from the previous close, reflecting positive market sentiment. Over the past year, the stock has gained 14 percent, with a 1.82 percent increase in the last six months.
AkzoNobel is a coatings company that manufactures a wide range of products, including automotive coatings, specialized equipment for car repair, solutions for the transportation market, and marine coatings.