Berger Paints (India) Ltd. Results

Q2FY25 Quarterly Result Announced for Berger Paints (India) Ltd.

Furniture, Furnishing & Paints company Berger Paints (India) announced Q2FY25 results Standalone Financial Highlights: Revenue from Operations for the Q2FY25 was Rs 2,430.7 crore as against Rs 2,439.8 crore in the Q2FY24, representing a decline of 0.4%. EBITDA (excluding Other Income) for the Q2FY25 was Rs 383.4 crore against Rs 403.1 crore in the Q2FY24, representing a decline of 4.9%. Net Profit for the Q2FY25 was Rs 229.0 crore as against Rs 243.9 crore in the Q2FY24, representing a decline of 6.1 %. Consolidated Financial Highlights: Revenue from Operations for the Q2FY25 was Rs 2,774.6 crore as against Rs 2,767.3 crore in the Q2FY24, representing an increase of 0.3%. EBITDA (excluding Other Income) for the Q2FY25 was Rs 434.2 crore against Rs 473.7 crore in the Q2FY24, representing a decline of 8.3%. Net Profit for the Q2FY25 was Rs 269.9 crore as against Rs 292.1 crore in the Q2FY24, representing a decline of 7.6%. Performance Highlights: Despite registering marginal growth, the company has gained market share during the quarter. Construction Chemicals, Waterproofing, Wood Coatings, and Premium & Luxury top coats continued to perform well within the Decorative segment. Protective coatings did well as per expectations. The gross profit margin of 41.7% was the highest in the last 10 quarters. Operating Profit Margin was within guidance level of 15% to 17% during the quarter. Abhijit Roy, Managing Director & CEO, Berger Paints India, said:"The extended monsoons, adverse weather & flooding in some key markets made this a tough quarter although we saw strong traction towards the quarter end. This resulted in an almost flat quarterly revenue performance and moderate single-digit growth on volume terms. On the profitability front, this quarter saw one of the highest levels of gross margins in the last 10 quarters and our operating margin remained within guidance levels despite the continued investments that the company made in branding, advertisement, and manpower to strengthen our market presence. Though the quarter numbers were muted, we expect that the second half of the year will be better in terms of revenue and profitability. We continued to do well in the focus segments of the Company, especially waterproofing, construction chemicals, wood coatings, and the premium plus coating segments. In addition, the Company saw a healthy improvement in its network on the back of the installation of 3804 new Colorbank tinting machines up to September 2024. The mass volume range products however suffered reduced demand due to inclement weather leading to the muted numbers reported for the quarter. Operating profit for the quarter, while healthy, had a negative growth rate. Three factors contributed to this, (a) the scale effect, (b) our investment in new manpower, and (c) increased investment in advertising and brand-building activities for our differentiated products. On the international front, our Polish operations continued to do well. However, there was a one-time set-off in projects which has impacted profitability this quarter. Nepal continued to be challenging, but on October 24, Nepal registered a double-digit revenue growth after almost a year and we expect a turnaround in their figures going forward. We remain optimistic for H2 on the back of the reversal of the price decrease impact and the improving market demand."

Q1FY25 Quarterly Result Announced for Berger Paints (India) Ltd.

Furniture-Furnishing-Paints company Berger Paints (India) announced Q1FY25 results: Revenue from Operations for the quarter ended 30th June, 2024 was Rs 2,806.3 crore as against Rs 2,739.8 crore in the corresponding quarter of the last year, representing an increase of 2.4% over the corresponding quarter of last year. EBITDA (excluding other income) for the quarter ended 30th June, 2024 was Rs 483.7 crore as against Rs 513.83 crore in the corresponding quarter of the last year, representing a decline of 5.9% over the corresponding quarter of last year. Net profit for the quarter ended 30th June, 2024 was Rs 305.5 crore as against Rs 326.3 crore in the corresponding quarter of last year, representing a decline of 6.4% over the corresponding quarter of last year. Abhijit Roy, Managing Director & CEO of Berger Paints India, said: "This quarter was tough due to elections, inclement weather and slowdown in a few key markets. In spite of this we were able to deliver double digit volume growth and the highest market share gain in a single quarter. Though we did well on the volume growth front, the value sales were lower due to the impact of the price drop taken in the prior quarters and stronger sale seen in the high volume, low value products 1 in the waterproofing and construction chemicals category. Profitability for the quarter, while healthy, had negative growth. Three factors contributed to this, among them being the base effect of a very high margin recorded in QI FY24, impact of price reductions in prior quarters and an increased investment in advertising and brand building activities linked to elections. We continue to register robust growth in waterproofing, construction chemicals and wood coating segments. The industrial segment had a muted performance in April and May but saw revival from June onwards which bodes well for us in the months ahead. On the international front, our Polish operations continued to do well while our operations in Nepal continues to be a challenge. We are now starting to see some signs of improvement in Nepal. As part of the regular succession planning exercise of the Company ensuring seamless transition to the next generation of leaders, Ms Rishma Kaur was appointed as the Chairperson of the Company by the Board of Directors at its meeting held today with effect from 13th August, 2024. Mr Kanwardip Singh Dhingra was appointed as Vice Chairman of the Company by the Board of Directors at its meeting held today with effect from 13th August, 2024. Mr Ku/dip Singh Dhingra and Mr.Gurbachan Singh Dhingra will continue on the Board as Non-Executive Directors designated Chairman Emeritus and Vice chairman Emeritus respectively with effect from 13th August, 2024 and would guide their successors on strategic thinking, leadership and overall understanding of the business. We remain optimistic on the demand scenario for the year ahead and look forward to introducing our customers and influencers to new innovations in products and services as the year progresses"

Q4FY24 Quarterly & FY24 Annual Result Announced for Berger Paints (India) Ltd.

Furniture-Furnishing-Paints company Berger Paints (India) announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Consolidated: Revenue from Operations for the quarter ended 31st March, 2024 was Rs 2,520.3 crore as against Rs 2,443.6 crore in the corresponding quarter of the last financial year, representing an increase of 3.1% over the corresponding period of last financial year. EBIDTA (excluding other income) in Q4FY24 was Rs 350.9 crore as against Rs 368.8 crore in the corresponding quarter of the last financial year, representing a decline of 4.8% over the corresponding period of last financial year. Net Profit for Q4FY24 was Rs 222.6 crore as against Rs 186.0 crore in the corresponding quarter of the last financial year, representing an increase of 19.7% over the corresponding period of last financial year. Standalone: Revenue from Operations for Q4FY24 was Rs 2,249.1 crore as against Rs 2,189.3 crore in the corresponding quarter of the last financial year, representing an increase of 2.7% over the corresponding period of last financial year. EBIDTA (excluding other income) for Q4FY24 was Rs 325.1 crore as against Rs 342.5 crore in the corresponding quarter of the last financial year, representing decline of 5.1% over the corresponding period of last financial year. Net Profit for Q4FY24 was Rs 181.6 crore as against Rs 196.2 crore in the corresponding quarter of the last financial year, representing a decline of 7.5% over the corresponding period of last financial year FY24 Financial Highlights: Consolidated: Revenue from Operations for FY24 was Rs 11,198.9 crore as against Rs 10,567.8 crore in the corresponding financial year, representing an increase of 6.0% over the corresponding period of last financial year. EBIDTA (excluding other income) for the year ended 31st March 2024 was Rs 1,861.3 crore as against Rs 1,487.2 crore in the corresponding financial year, representing an increase of 25.2% over the corresponding period of last financial year. Profit for FY24 was Rs 1,169.8 crore as against Rs 860.4 crore corresponding last financial year, representing an increase of 36.0% over the corresponding period of last financial year Standalone: Revenue from Operations for FY24 was Rs 10,002.9 crore as against Rs 9,470.6 crore in the corresponding financial year, representing an increase of 5.6% over the corresponding period of last financial year. EBTDTA (excluding other income) for FY24 was Rs 1,671.7 crore as against Rs 1,345.9 crore in the corresponding last financial year, representing an increase of 24.2% over the corresponding period of last financial year. Net Profit in FY24 was Rs 1,015.1 crore as against Rs 828.4 crore in the corresponding last financial year, representing an increase of 22.5% over the corresponding period of last financial year. Abhijit Roy, Managilng Director & CEO of Berger Paints India said, "We gained market share again in FY24 and as a milestone crossed Rs 10,000 crore in revenue and PAT of Rs 1,000 crore on a stand-alone basis, a significant event on our 100th year in India. Our Q4FY24 sales were at a healthy double digit volume growth. The value growth was adversely impacted by a massive 4%+ price reduction in the year, an increased contribution of high-volume low value products and a lower than expected sale in the luxury segment from the anticipation of a price reduction in this segment. On the profitability front in Q4FY24, while the gross margins were maintained the ebidta reduced due to the one-off effect of subsidy received in Q4FY23, negative operating leverage on account of fixed cost on lower value base & the incremental operating cost of the new Sandi/a plant as well as the conscious call taken on brand building efforts leading to an inaeased advertisement expenditure. On the whole the company did much better on an annual basis for FY24 delivering a stellar double digit improvement in profitability with all the business lines delivering well with strong double digit volume growths and improvements in profitability especially in the industrial segment. We continue to be focussed on the waterproofing & construction chemicals segment where we saw exceptional growth this year and expect this trend to continue in the years ahead. We remain confident of an improved demand scenario in the upcoming year and have prepared for the same with the launch of multiple innovative new products in the paint, coatings and waterproofing segments to ensure that we provide relevant solutions to the changing needs of our customers. "

Q3FY24 Quarterly & 9MFY24 Result Announced for Berger Paints (India) Ltd.

Berger Paints (India) announced Q3FY24 & 9MFY24 results: Consolidated Q3FY24: Revenue from Operations: Rs 2,881.83 crore, compared to Rs 2,693.59 crore in the corresponding quarter of the previous year, representing an increase of 7.0%. EBITDA (excluding Other Income): Rs 480.04 crore, compared to Rs 349.65 crore in the corresponding quarter of the previous year, indicating a growth of 37.3%. Net Profit: Rs 300.16 crore, compared to Rs 201.17 crore in the corresponding quarter of the previous year, showing a significant increase of 49.2%. Consolidated 9MFY24: Revenue from Operations: Rs 8,678.64 crore, compared to Rs 8,124.21 crore in the corresponding period of the previous year, reflecting an increase of 6.8%. EBITDA (excluding Other Income): Rs 1,510.44 crore, compared to Rs 1,118.44 crore in the corresponding period of the previous year, demonstrating a growth of 35.0%. Net Profit: Rs 947.20 crore, compared to Rs 674.39 crore in the corresponding period of the previous year, showing a notable increase of 40.5%. Commenting on the results, Abhijit Roy, MD & CEO of Berger Paints, said, "The quarter witnessed strong growth on the volume front and robust growth in operating profits, with decorative business line volume growth in double digits. Our Tier 2 and Tier 3 city growth rates were higher than Tier 1 city growth rates. We continued with our aggressive growth in the Waterproofing and Construction Chemicals segment. New product introductions were made in the sealants and roof waterproofing category to fortify our product offerings in this segment. The General Industrial, Auto, and Powder divisions also performed well. In international operations, Bolix S.A., Poland, saw remarkable growth. We continued to expand our network by adding more than 2300 retail touchpoints during this quarter and strengthening digital initiatives to bolster our capabilities as we look at exciting times ahead."