Mumbai, February1, 2021.
Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the third quarter of financial year 2020-21. For the quarter, the company earned Net revenue from operations of Rs. 1473.4 Crores, a growth of 18 % over the corresponding quarter of the previous year. For the nine months period, the company earned Net Revenue from operations of Rs. 3359.5 Crores a de-growth of 15.1 % over the corresponding period of the previous year.
EBIDTA was at Rs. 289.8 Crores, a growth of 51 % over Q3 of 2019-20. PBT before exceptional item was at Rs. 269.2 Crore, a growth of 56.8 % over Q3 of 2019-20.
For the nine months period EBITDA was at Rs. 629.7 Crores, a de-growth of 3.7 % over the same period of 2019-20. PBT before exceptional item was at Rs. 554.1 Crores, a de-growth of 5.3 % over the same period of 2019-20.
PAT for the quarter was at Rs 201.9 Crores, a growth of 64.6 % over Q3 of 2019-20. PAT for the nine months period was Rs 403.2 Crores, a degrowth of 13.1 % over the same period of 2019-20.
Commenting on the results, Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said, “The quarter saw a strong bounce back in demand on account of the festive season. Both Decorative and Industrial witnessed high double-digit volume growth in the quarter with demand recovery across all customer segments.
The continued aggressive cost control program along with judicious management of overheads helped the company report a strong growth in EBITDA. Basic raw material prices showed an inflationary trend. Inflation is likely to continue in the near futurealong with continued volatility in forex rates. Looking forward, the company is optimistic that demand would continue to gain momentum.