Asian Paints Reports Q1 FY 2025 Financial Results: Consolidated Sales Decline

In the latest stock exchange filing, Asian Paints announced its Q1 FY 2025 financial results, revealing a mixed performance across its various business segments.

The company’s consolidated net sales declined by 2.3%, dropping to ₹8,943.2 crore in the quarter ended June 2024 from ₹9,153.8 crore in the same period last year. This decline was reflected in the company’s PBDIT (Profit before depreciation, interest and tax) margin, which fell to 18.9% from 23.2% year-over-year. The net profit after minority interest also saw a significant decrease, falling by 24.5% to ₹1,170.0 crore from ₹1,550.4 crore.

On a standalone basis, Asian Paints’ net sales decreased by 2.9% to ₹7,852.5 crore, compared to ₹8,084.9 crore in the previous year. The net profit for this segment dropped by 20.9% to ₹1,192.4 crore from ₹1,508.4 crore, indicating challenging market conditions.

The company’s international business faced a 2.3% sales decline, down to ₹679.1 crore from ₹695.1 crore.

In the home decor business, the bath fittings segment experienced a 10.3% increase in sales, reaching ₹93.4 crore from ₹84.7 crore. However, the segment’s PBDIT loss widened to ₹1.4 crore from a loss of ₹0.8 crore in the previous year. The kitchen business saw a sales increase of 4.6%, with sales rising to ₹100.4 crore from ₹96.0 crore. Its PBDIT improved to ₹0.9 crore from ₹0.7 crore.

The company stated that the recently acquired White Teak and Weatherseal brands also performed well, with sales at White Teak increasing by 14.3% to ₹29.7 crore and sales at Weatherseal rising by 17.6% to ₹11.5 crore.

Commenting on the financial performance, the Managing Director and CEO of Asian Paints Limited, Amit Syngle, said, “In the near term, we expect demand conditions to improve at the back of improving rural sentiment and monsoons picking up gradually. We remain focused on driving growth through enhanced saliency of our brand, innovation and customer-centricity.”

On July 18, 2024, the share price of Asian Paints Ltd opened at ₹2,875.00, touching the day’s low at ₹2,842.00, as of 9:51 AM on the NSE.

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