Asian Paints Q1FY23 PAT up 78.9% at Rs1,017 crore on 70% growth in EBITDA at Rs1,556 crore

27 Jul 2022 , 08:53 AM

Asian Paints Ltd, reported 54.1% growth in total revenues yoy for the Q1FY23 quarter on consolidated basis at Rs8,607 crore. On a sequential basis, revenues were up for the quarter by 9.05%.

For Q1FY23, Asian Paints bought 51% stake in Weatherseel Fenestration as well as 49% stake in Obgenix Software, paying close to Rs200 crore for both the acquisitions put together.

Asian Paints has forayed into new home décor products and services marking a transition from “share of surface” to “share of space”. Asian Paints gained from pick-up in the domestic decorative segment and the automobile OEM segment demand.

The consolidated net profit for Q1FY23 was up 78.9% yoy at Rs1,017 crore while it was up on a sequential basis by 19.58%.

Despite the impact of input inflation on the gross profit margins, Asian Paints delivered strong operating margins via its premium and luxury offerings push, where the customers are less fussy about the price and more particular about value.

Net margins were 11.82% in Q1FY23 quarter compared to 10.18% in Q1FY22. NPM was higher as compared to 10.77% in Q4FY22.

Financial highlights for Jun-22 compared yoy and sequentially

	Asian Paints
Rs in Crore	Jun-22	Jun-21	YOY	Mar-22	QOQ
Total Income (Rs cr)	₹ 8,606.94	₹ 5,585.36	54.10%	₹ 7,892.67	9.05%
Net Profit (Rs cr)	₹ 1,016.93	₹ 568.50	78.88%	₹ 850.42	19.58%
Diluted EPS (Rs)	₹ 40.60	₹ 5.93		₹ 8.87
Net Margins	11.82%	10.18%		10.77%