Asian Paints Q4FY22 Results: Sales jump nearly 21% YoY, company announces Rs 15.5 final dividend

Asian Paints on Tuesday registered a 20.6 per cent YoY growth in consolidated sales to Rs 7,889.94 crore during the fourth quarter of the financial year 2021-22 (Q4FY21) as compared to Rs 6,541.94 crores in the same period a year ago, the company said in a filing to exchanges.

While Asian Paints consolidated profit before exceptional items and tax grew by 12.8 per cent to Rs 1,304.88 crores from Rs 1,156.31 crore YoY.

Similarly, its PBDIT (Profit before depreciation, interest, tax, other income, and exceptional items) grew by 9.5 per cent to Rs 1,443.2 crore from Rs 1,318.26 crore YoY, the company also said in a regulatory filing.

The company’s board recommended payment of a final dividend of Rs. 15.50 per equity share of the face value of Re. 1 each for the financial year ended 31st March 2022, Asian paints said in another release.

“It was yet another quarter of solid and strong double-digit value growth across all businesses, despite the prevailing uncertainty around Covid, macro-economic challenges, and heightened geopolitical tensions,” Amit Syngle, Managing Director & CEO, Asian Paints said in a commentary.

“We continued to improve our operating margins on a sequential basis which was a result of some calibrated price increases, driving the premium and luxury product growths, coupled with some strong work on driving operational efficiencies across businesses,” Syngle further said.

The domestic Decorative business grew strongly, registering 8% volume growth and 20% plus revenue growth on a high base, the management said in the company’s results release.

Similarly, the Industrial Coatings business closed the quarter with another round of robust double-digit revenue growth with continued momentum in the Protective Coatings segment, the release further said.

The share price of Asian Paints gained nearly 2.5 per cent to Rs 3083 per share on the BSE as compared to a 0.19 per cent fall in the S&P BSE Sensex.