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Revenue from operations fell marginally to Rs 8,731 crore in the reporting quarter, compared with Rs 8787 crore in the same quarter of previous year.
The company’s Board recommended payment of a final dividend of Rs 28.15 per share for the financial year ended March 2024.
The company has fixed June 11 as the record date for determining the eligibility of shareholders for the payment of said dividend and the same will be paid on or after June 27.
The paints major saw an improvement in its gross margins by about 120 basis points in the fourth quarter, while PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] dropped 9% YoY to Rs 1,691 crore.Segment-wise, international business sales rose 2% to Rs 812 crore. In constant currency terms, sales increased by 5% YoY in the reporting period.Within the home decor business, the bath fittings business sales declined 8% in to Rs 89 crore in Q4FY24 due to subdued retail demand. PBDIT loss for the segment was at Rs 10 crore in the same period.The kitchen business sales rose 3% to Rs 101 crore. PBDIT for the same at Rs 2.7 crore in the January-March 2024.
For the White Teak and Weatherseal businesses, Sales at White Teak increased 33% to Rs 48 crore, and sales at Weatherseal jumped 63% to Rs 15.6 crore.
Asian Paints crossed the Rs 35,000 crore consolidated revenue milestone in FY24. The decorative and Industrial coatings combined, delivered a volume growth of 10% and value growth of 3.9% for the year with the industrial segment registering double-digit value growth.
“Looking ahead, we remain confident about a pick-up in demand conditions with a favorable monsoon forecast. We will continue to innovate with speed and invest in our brand, focusing on our consumers and keeping their interests at the forefront,” said Amit Syngle, MD and CEO of Asian Paints.
On Thursday, Asian Paints shares closed 3.7% lower at Rs 2,738 crore on NSE.