Akzo Nobel India’s Revenue Rises 21% YoY To Rs 3,802 Cr For FY23
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Akzo Nobel India’s Revenue Rises 21% YoY To Rs 3,802 Cr For FY23

Akzo Nobel India's Revenue Rises 21% YoY To Rs 3,802 Cr For FY23

Akzo Noble India, a manufacturer and seller of paints and related products on Monday reported a 15 per cent year-on-year (YoY) growth in its profit after tax (PAT) at Rs 3,351 crore for the financial year 2022-23 (FY23) compared to to the previous financial year at Rs 2,900 crore.

The company’s revenue from operations also grew 21 per cent YoY at Rs 3,802 crore for FY23.
The positive performance was attributed to the benefit received from the core sector and automotive growth.
The company’s EBIT (earnings before interest and taxes) witnessed a 24 per cent growth to Rs 442.6 crore, looked after by improved margins of 30 basis points resulting from growth in gross margins and efficient cost management.

The management of Akzo Noble India underlined that the paints and coatings industry’s possibilities are closely tied to the country’s overall economic growth, affected by aspects such as income levels, industrial production and infrastructure development.

Despite potential risks emerging from fluctuating crude prices, the macroeconomic environment, and inflationary pressures, the company remains optimistic about the industry’s outlook.

The projected medium-term growth rate of 6-7 per cent for India sets a favorable backdrop for the expansion and development of the paints and coatings industry, according to the FY23 annual report.

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