Asian Paints Ltd. announced their financial results for the quarter and six months ended Sept. 30, 2022.

“The domestic Decorative business showed resilience to deliver a double-digit volume growth and healthy value growth despite subdued demand conditions, impacted by the extended monsoon,” said Amit Syngle, managing director and CEO of Asian Paints Limited. “The business focus on top line is evident from the double-digit compounded growth rates in volume and value sales for a sixth quarter in a row.

“The Home Décor business continued to gain traction with focus on Lighting, Kitchen and Bath along with proliferation of our Beautiful Homes Stores and the Home Décor implementation arm, Beautiful Homes Service, across markets,” added Syngle. “The Auto OE business delivered robust growth, while the Industrial coatings business continued with its high growth trajectory led by Protective & Powder Coatings.

“The International business also registered a good double digit revenue growth despite multiple headwinds across key markets,” Syngle noted. “We took a series of calibrated price increases to offset the impact of increased inflation on margins. We continue to enhance our customer engagement endeavors and are embarking on a series of breakthrough initiatives in the value chain to deliver sustained value for all our stakeholders.”

Asian Paints Consolidated Results, Q2 FY’23:
• Consolidated sales increased by 19.8% to ₹ 8,430.60 crores ($1.03 billion) from ₹ 7,036.51 crores.
• Profit before depreciation, interest, tax and other income (PBDIT) for the group (before share of profit in associates) increased by 35.7% to ₹ 1,227.70 crores ($150 million) from ₹ 904.45 crores.
• Profit before exceptional items and tax increased by 32.4% to ₹ 1,094.16 crores from
₹ 826.24 crores.
• Net profit after minority interest increased by 31.3% to ₹ 782.71 crores from ₹ 595.96 crores.

Asian Paints Consolidated Results, H1 FY’23:
• Consolidated sales increased by 35.3% to ₹ 17,009.48 crores ($2.08 billion) from ₹ 12,571.38 crores.
• PBDIT for the group (before share of profit in associates) increased by 53.1% to ₹ 2,783.65 crores from ₹ 1,818.01 crores.
• Profit before exceptional items and tax increased by 57.3% to ₹ 2,524.99 crores from
₹ 1,604.82 crores.
• Net profit after minority interest increased by 54.5% to ₹ 1,799.64 crores from ₹ 1,164.46 crores.

Asian Paints Standalone Results, Q2 FY’23:
• Sales increased by 20.1% to ₹ 7,315.86 crores from ₹ 6,090.08 crores.
• PBDIT for the quarter increased by 27.5% to ₹ 1,115.55 crores from ₹ 874.92 crores.
• Profit before tax increased by 23.0% to ₹ 1,020.20 crores from ₹ 829.52 crores.
• Net profit increased by 23.4% to ₹ 763.29 crores from ₹ 618.63 crores.

Asian Paints Standalone Results, H1 FY’23:
• Sales increased by 37.4% to ₹ 14,871.66 crores from ₹ 10,823.38 crores.
• PBDIT increased by 46.7% to ₹ 2,578.13 crores from ₹ 1,756.87 crores.
• Profit before tax increased by 47.3% to ₹ 2,392.61 crores from ₹ 1,624.18 crores.
• Net profit increased by 46.6% to ₹ 1,780.57 crores from ₹ 1,214.49 crores.