Asian Paints Boosts Production Capacity to 4,00,000 KL, Reports 53% Rise in Q2 Net Profit

15 Nov 2023 , 11:49 AM

Asian Paints announces an increase in the original installed production capacity of the Khandala plant to 4,00,000 KL per annum to meet medium-term capacity needs. The plant, initially set up with a production capacity of 3,00,000 KL per annum, has undergone the capacity expansion.

In the previous BSE session, Asian Paints stock closed 0.28% lower at Rs 3088.95. Total turnover amounted to Rs 16.21 with 0.53 lakh shares changing hands. The market cap stands at Rs 2.96 lakh crore.

The company invested approximately Rs 385 crore to increase the installed capacity, funded through internal accruals, and received approval from the Maharashtra Pollution Control Board, Mumbai. In Q2, Asian Paints reports a consolidated net profit increase of 53.31% YoY to Rs 1,232.39 crore. However, sequentially, profit declined by 21.74%. Consolidated revenue for the quarter was Rs 8,478.57 crore, showing a 7.66% decline from the June quarter.

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