Asian Paints Q2FY23 PAT up 31.3% at Rs783 crore on decorative paints thrust

22 Oct 2022 , 06:11 PM

Asian Paints Ltd reported 19.19% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs8,457.57cr. Revenue contracted by -1.74% in sequential terms.

The domestic decorative paint business delivered double digit growth in the quarter even amidst an extended monsoon and tight market conditions.

Home décor business also continued to gain traction in the quarter. Asian Paints also saw robust growth in the Automobile OE vertical and the industrial coatings vertical, largely driven by protective and powder coatings.

The spike in input costs were partially offset by the company opting for price increases in select markets.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 31.35% at Rs782.71cr on the back of better profit realization in the decorative paints segment.

The EBITDA for the quarter was up 35.7% at Rs1,227 crore on a consolidated basis while for the first half ended September 2022, the EBITDA was up 53% at Rs2,784 crore. Sales in the international business segment increased in the quarter by 15.3% to Rs806 crore.  

PAT margins were higher yoy at 9.25% in the Sep-22 quarter compared to 8.40% in the Sep-21 quarter but it was lower compared to 11.82% in June 2022 quarter. The board has declared a dividend of Rs4.40 per share or 440% of the face value.

Financial highlights for Sep-22 compared yoy and sequentially

	Asian Paints
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 8,457.57	₹ 7,096.01	19.19%	₹ 8,606.94	-1.74%
Operating Profit (Rs cr)	₹ 1,012.00	₹ 701.70	44.22%	₹ 1,347.85	-24.92%
Net Profit (Rs cr)	₹ 782.71	₹ 595.96	31.34%	₹ 1,016.93	-23.03%
Diluted EPS (Rs)	₹ 8.16	₹ 6.21		₹ 10.60
OPM	11.97%	9.89%		15.66%
Net Margins	9.25%	8.40%		11.82%