Asian Paints comes out with flying colours in Q1FY17

Asian Paints has declared its Q1FY17 results on Wednesday after market hours. The company’s revenue has increased by 10.24 per cent to Rs 4082 crore in Q1FY17 as compared to the same period in previous fiscal. Its EBITDA too has risen by 20.77 per cent to Rs 820 crore in Q1FY17 on a yearly basis. Asian Paints’ EBITDA margin has expanded by 175 basis points to 20.09 per cent in Q1FY17 as compared to same period in previous fiscal. The company’s net profit also has boosted by 44.11 per cent to Rs 622 crore in Q1FY17 on a yearly basis. Its net profit margin  has expanded by 358 basis points to 15.23 per cent in Q1FY17 as compared to same period in previous fiscal.

On the segmental revenue front, Asian Paints has earned majorly 98.28 per cent from paints; and remaining 1.72 per cent from home improvement during Q1FY17.

The share price of Asian Paints increased by 0.11 per cent on bourses and closed at Rs 1061.8 on an intraday basis.

Asian Paints operates across the globe through its subsidiaries, namely Berger International, Apco Coatings, SCIB Paints and Taubmans. The company manufactures a range of paints for decorative and industrial use. Its paints are used in industries for coatings and road markings. Asian Paints has two chemicals' businesses, Phthalic Anhydride, manufactured at Ankleshwar and Pentaerythritol, manufactured at Cuddalore in Tamil Nadu. The company operates 23 paint manufacturing facilities across India.