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<keyword id="201354" type="General" weightage="20" keywordseo="asian-paints-ltd" source="Orion">Asian Paints Ltd</keyword> on Thursday reported a 29 per cent decline in consolidated <keyword id="6431508" type="General" weightage="20" keywordseo="net-profit" source="Orion">net profit</keyword> to ₹605.17 crore in the second quarter ended September 30, on account of higher expenses, especially input costs. The company had posted a consolidated net profit of ₹851.9 crore in the corresponding period of last fiscal, Asian Paints Ltd said in a regulatory filing. Its consolidated revenue from operations in the second quarter stood at ₹7,096.01 crore, against ₹5,350.23 crore a year ago. The company said its total expenses in the second quarter stood at ₹6,418.17 crore as compared with ₹4,299.12 crore in the same period last fiscal. Of this, cost of materials consumed was at ₹4,570.53 crore as compared to ₹2,646.49 crore in the year-ago quarter, the company said. Asian Paints Ltd Managing Director and CEO <keyword id="2064764" type="General" weightage="20" keywordseo="Amit-Syngle" source="Orion">Amit Syngle</keyword> said, "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter." The company has taken a series of price increases and would look at further price increase to mitigate the impact of this persistently high inflation, he said adding that the company is confident that it should be able to turn this around strongly in the coming quarter. Syngle said the domestic decorative business continued to "move ahead on its high growth trajectory with an unprecedented 34 per cent volume growth in the quarter and a strong compounded growth rates over the last two years". The industrial coatings business also registered strong double-digit revenue growth, led by robust demand for protective coatings and uptick in the automotive sector. The home improvement business continued to scale up in a significant manner, registering its highest quarterly revenues, aided by strong alignment with the projects business, he added. "Performance in the international business was a mixed bag with good growth in the South Asian markets, while markets in the Middle East and Africa were sluggish with challenges around COVID-19 and forex (foreign exchange) availability," Syngle said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/dearness-allowance-hiked-by-3-to-31-for-central-government-employees/articleshow/87183710.cms">Dearness allowance hiked to 31% for central government employees</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/iaf-aircraft-mirage-2000-crashes-in-madhya-pradeshs-bhind-district-pilot-ejected-safely/articleshow/87182926.cms">IAF aircraft Mirage 2000 crashes in Madhya Pradesh's Bhind district, pilot ejected safely</a>

Asian Paints' net profit drops 29% on high raw material prices

<ul><li>Ogilvy and <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> have brought the 2nd video in ‘Har Ghar Chup Chaap Se Kehta Hai’ #StayHomeStaySafe series.</li><li>Voiced by the inimitable <keyword id="6375200" type="UNKNOWN" weightage="20" keywordseo="PIYUSH-PANDEY">Piyush Pandey</keyword> and directed by Neha Kaul of Corcoise Films, this video will surely bring a smile on everyone’s face and remind them what their home has been to them; a place of security.</li></ul>Continuing the journey of creating beautiful memories at home during the COVID-19 lockdown phase, Ogilvy and Asian Paints have brought the 2nd video in ‘Har Ghar Chup Chaap Se Kehta Hai’ #StayHomeStaySafe series. In its first instalment, the recreated version of the iconic commercial gave us a reason to smile and appreciate what we have during the current uncertain times. The second instalment, conceptualized by Ogilvy Mumbai, showcases individuals and families taking care of their homes in the current quarantine period. Upkeep of the house, an otherwise trying exercise, has now become a source of joy to family members. Children, grown men, even pets, everyone in the house is chipping in with their share of household chores. This relevant truth is beautifully captured to show how one’s relationship with one’s home, a relationship at the core of brand Asian Paints, is rekindled. <div type="Youtube" id="R5jEb9L2cgY" title="Asian Paints Har Ghar Chup Chap Se Kehta Hai" thumbUrl="https://i.ytimg.com/vi/R5jEb9L2cgY/mqdefault.jpg"></div> Voiced by the inimitable Piyush Pandey and directed by Neha Kaul of Corcoise Films, this video will surely bring a smile on everyone’s face and remind them what their home has been to them; a place of security. Speaking about this new ad, <keyword id="2064764" type="PERSON" weightage="20" keywordseo="Amit-syngle">Amit Syngle</keyword>, MD and CEO, Asian Paints Limited, said “Our second video is a very different take on the emotions associated with Homes, wherein the Home personification and its relationship with the people who live there comes to light in a very beautiful, interconnected way. The whole the camaraderie between the home and the members, bring the joy in reliving those real moments which strongly define the emotional connect. Relationships rekindle the fun routines and some lively activities, combined with daily chores, bringing the social message of Stay Home Stay Safe alive.” <keyword id="2811220" type="PERSON" weightage="20" keywordseo="Sukesh-Nayak">Sukesh Nayak</keyword>, Chief Creative Officer, <keyword id="531122" type="COMPANY" weightage="20" keywordseo="Ogilvy-India">Ogilvy India</keyword>, said “Staying at home we found a new corner in our home which has become our favourite spot and we found places to clean that we never did before. We found new love for our homes and we decided to capture this love in our film.”

Ogilvy India is back with a quarantine version of Har Ghar Kuch Kehta Hai

Shares of <keyword id="20026009" type="General" weightage="20" keywordseo="Asian-Paints" source="keywords">Asian Paints</keyword> Ltd dropped over 4 per cent in morning trade on Thursday after the company reported a 24.64 per cent decline in <keyword id="20129249" type="General" weightage="20" keywordseo="consolidated-net-profit" source="keywords">consolidated net profit</keyword> in the <keyword id="22009550" type="General" weightage="20" keywordseo="June-quarter" source="keywords">June quarter</keyword>. The stock went lower by 4.24 per cent to Rs 2,848.15 on the BSE. At the NSE, it dropped 4.45 per cent to Rs 2,842 apiece. The stock emerged as the biggest laggard among the Sensex pack. Asian Paints Ltd on Wednesday reported a 24.64 per cent decline in consolidated net profit to Rs 1,186.79 crore in the June quarter, hit by demand slowdown due to severe heatwave and general elections. The company had posted a consolidated net profit of Rs 1,574.84 crore in the same period last fiscal year, Asian Paints said in a regulatory filing. Consolidated revenue from operations in the first quarter of the current fiscal was down at Rs 8,969.73 crore, as compared to Rs 9,182.31 crore in the year-ago period, it added. Total expenses were higher at Rs 7,559.04 crore, up from 7,305.09 crore in the corresponding period of the last fiscal. "Demand conditions for the paint industry were tough, impacted by the severe heatwave and general elections in the quarter," Asian Paints Ltd Managing Director &amp; CEO Amit Syngle said. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank">Samsung Galaxy M35 5G with 6,000mAh battery launched in India starting at ₹19,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank">OnePlus Nord 4 vs Realme GT 6T – which mid-range phone should you buy under ₹35,000?</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank">Reliance Jio and Airtel added 3.45 million subscribers in May 2024, while Vi lost nearly a million</a>

Asian Paints shares drop over 4% after Q1 earnings

India's largest paint maker <keyword id="20026009" type="General" weightage="100" keywordseo="Asian-Paints" source="keywords" meta.keywordsubtype="org" meta.entityname="Asian Paints" meta.hostid="261" meta.entityid="Asian Paints">Asian Paints</keyword>, reported a 24.5% dip in its net profits for the quarter, pushing it down to Rs 1,170 crore from Rs 1,383 crore in the same quarter last year. The company's net sales during the quarter also dipped by over 2% to touch Rs 8,970 crore, compared to Rs 9,182.31 crore in the year-ago period. In a statement, Amit Syngle, MD and CEO of Asian Paints attributed the below-expectation results to tough demand conditions during <keyword id="21159844" type="General" weightage="20" keywordseo="April-June" source="keywords">April-June</keyword>, which also saw severe heatwaves and general elections. However, he expected the demand to pick up soon, largely on the back of improving <keyword id="22447264" type="General" weightage="20" keywordseo="rural-sentiment" source="keywords">rural sentiment</keyword> and monsoon making headway in the country. The company's international sales also took hit, down to Rs 679.1 crore from Rs 695.1 crore, mainly due to liquidity and forex crises it experienced in the key markets, namely Asia, Nepal, Bangladesh and Egypt. On the other hand, Ethiopia and <keyword id="19931726" type="General" weightage="20" keywordseo="sri-lanka" source="keywords">Sri Lanka</keyword> proved beneficial for the company's international growth during the quarter. In June 2024, the company paid out a final dividend of Rs 28.15 per equity share to its shareholders. The company also reported a 7% volume growth during the previous quarter. But its EBITDA margin during the quarter shrunk from 23.1% in the same quarter last year to 18.1% between April-June 2024. The company's consolidated profits before depreciation, interest, tax, income and exceptional items dipped to Rs 1,694 crore, as compared to Rs 2,121 crore in the year ago period. <h2>Bath fitting sales inch up </h2>The only segment within the business' umbrella that registered growth was the bath fitting segment, which grew by 10%, and <keyword id="6921293" type="General" weightage="20" keywordseo="kitchen-fittings" source="Orion">kitchen fittings</keyword>, which jumped by 4.6%. The company's industrial business grew by 5.8% due to solid growth in auto original equipment manufacturing (OEM) and the powder coating segments. At close of markets on Tuesday, the paint maker's stock was trading at Rs 2,968.00, up by 0.39%. Over the last year, the company's share has fallen by as much as 14.23%, but it remains a solid catch for long-term investors, jumping up by 116.78% over the last 5 years.

Asian Paints Q1FY25 results: Net profit dips by 25%, revenue also misses market estimates

<keyword id="106317" type="DOMAIN" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> on Thursday reported a 62.28 per cent jump in its consolidated profit to Rs 1,265.35 crore for the third quarter ended December 31, 2020. The company had posted a profit of Rs 779.71 crore during the same period of <keyword id="1547700" type="PERSON" weightage="20" keywordseo="previous-fiscal">previous fiscal</keyword>. Revenue from operations for October-December quarter stood at Rs 6,886.39 crore, up 25.43 per cent, as against Rs 5,490.11 crore reported in the same period of 2019-20 fiscal, <keyword id="201354" type="DOMAIN" weightage="20" keywordseo="Asian-Paints-Ltd">Asian Paints Ltd</keyword> said in a regulatory filing. Amit Syngle, Managing Director &amp; CEO, Asian Paints said demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year. "The domestic decorative business delivered a powerful performance with more than 30 per cent volume growth led by a strong performance in premium and luxury portfolios. The Home Decor foray of Asian Paints got a big fillip from a strong performance of the <keyword id="836139" type="COMPANY" weightage="20" keywordseo="home-improvement">Home Improvement</keyword> business". Syngle said the international business recorded a double-digit volume growth, strongly led by good growth in <keyword id="21718" type="LOCATION" weightage="20" keywordseo="Asia">Asia</keyword> and Middle East. "Profitability across businesses has been well supported by a good sales mix and some excellent work in cost optimization &amp; sourcing measures pursued strongly through innovation programs," he added. Shares of Asian Paints closed 0.62 per cent higher at Rs 2,714.65 apiece on BSE. SVK RUJ RUJ

Asian Paints profit jumps 62% led by a powerful performance in the decorative paint segment

<ul><li>Shares of most paint makers have fallen in the last five days after one of the leading players, Asian Paints, reported a slowdown in profit on concerns over rising raw material prices.</li><li>Moreover, the market leader expects the increase in raw material prices to persist for some more time, which will eventually impact profits.</li><li>Raw material prices have been pushed up due to the high crude oil prices</li></ul>More than the excitement for anticipated demand during Diwali, an Indian festival, paint manufacturers are worried about the rising raw material prices hitting their profitability. The concern over rising costs elevated after one of the leading players, Asian Paints, reported a fall in profit due to high raw material prices, which is further expected to remain high for some time. Raw material prices have been pushed up due to the high crude oil prices. Note that half of the material used by paint companies are crude oil derivatives. Asian Paints reported a decline in net profit to ₹595 crore in September, below analysts’ expectations. "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter," said Amit Syngle, managing director and chief executive of Asian Paints in a statement to an exchange on October 21. The commentary on rising cost inflation hit shares of other paint makers fearing slowdown in profitability in the near term. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paint manufacturers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-14% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pidilite Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-9% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shalimar Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr></tbody><tbody></tbody></table> “Higher input prices will keep margins of the paint companies in the near term,” said a report by broking house Sharekhan. Adding to it, global chip shortage could impact supply of tinting machines which are key for paint dealers. The chip shortage could <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a> impact the supply of tinting machines and the expansion plans of paint companies. These machines help shops create different shades of paints within the store, in line with the requirement of customers. Dealers who use tinting machines do not have to hold large amounts of shades in stock. “We expect delays in (the supply of) tinting machines to remain for a few quarters for most paint companies. We expect less impact on top two companies, Asian Paints and Berger Paints, as they already have a high tinting machine penetration compared to smaller peers," said analysts at Edelweiss Securities, <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a>. With steep inflation in input costs weighing on profitability, paint companies may announce further price hikes and pass on the burden to consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-subscribers-for-the-first-time-in-10-quarters-but-theres-good-news-for-mukesh-ambani-in-this-too/articleshow/87251614.cms">Reliance Jio lost subscribers for the first time in 10 quarters but there's good news for Mukesh Ambani in this too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bad-loans-at-icici-bank-have-never-been-this-low-in-the-last-seven-years/articleshow/87250046.cms">Bad loans at ICICI Bank have never been this low in the last seven years</a>

Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up

<ul><li><keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> reported around 1.8% fall in its consolidated net profit to ₹480.25 crore for the fourth quarter ended March 31.</li><li>The total revenue was down 7.1% year-on-year to ₹4,635.59 crore during the period.</li><li>Along with the coronavirus crisis, the prolonged monsoons and floods in different states impacted decorative paints adding to woes of the paint maker. </li><li>“The Industrial business segment under the automotive coatings and industrial coatings continued to be impacted by the downturn in the automotive industry and the overall slowdown in the economy,” Syngle said. </li></ul>India’s largest multinational paint company Asian Paints reported around 1.8% fall in its consolidated net profit to ₹480.25 crore for the fourth quarter ended March 31. The company shares were up nearly a percent ahead of the earnings. The total revenue was down 7.1% year-on-year to ₹4,635.59 crore during the period, the company said. <a href="https://economictimes.indiatimes.com/markets/stocks/earnings/asian-paints-q4-results-preview-may-report-drop-in-revenue-on-covid-19-hit/articleshow/76515239.cms">Analysts at Edelweiss </a>had expected its fourth-quarter revenue to fall somewhere around 8%. <div type="image" title="Asian profit new" msid="76533729" hostid="261"></div> “Loss of sales due to the lockdown in March impacted the decorative business segment in an otherwise strong quarter with double-digit volume growth in the first two months of the quarter. Even with the loss of sales, the decorative business segment in a tough year has registered double-digit volume growth for the year and strong profit numbers,” said Amit Syngle, managing director &amp; CEO, Asian Paints Limited. The company was also <a href="https://www.businessinsider.in/business/corporates/news/bajaj-auto-sales-slid-almost-38-in-march-when-the-covid-19-lockdown-was-in-place-for-just-a-week/articleshow/75818885.cms">largely impacted by the slowdown in the auto industry</a>. “The Industrial business segment under the automotive coatings and industrial coatings continued to be impacted by the downturn in the automotive industry and the overall slowdown in the economy,” he added. <div type="image" title="Asian Paints share" msid="76533757" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/berger-paints-share-price-as-fourth-quarter-profit-falls-6-percent/articleshow/76532013.cms" data-type="tilCustomLink">Berger Paints just put out the dullest quarter in a long time⁠— and that didn't include the worst of the lockdown </a><a href="https://www.businessinsider.in/business/corporates/news/berger-paints-share-price-as-fourth-quarter-profit-falls-6-percent/articleshow/76532013.cms" data-type="tilCustomLink" style="font-family: Merriweather; font-size: 16px; font-weight: 300;"></a> <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-and-bergers-earnings-will-show-if-people-will-risk-renovators-inside-their-homes-until-then-its-sanitisers-to-the-rescue/articleshow/76504616.cms" data-type="tilCustomLink">Asian Paints and Berger’s earnings will show if people will risk renovators inside their homes⁠— until then its sanitisers to the rescue</a> <a href="https://www.businessinsider.in/business/news/asian-paints-share-price-falls-as-goldman-sachs-downgrades-stock/articleshow/75691813.cms" data-type="tilCustomLink">Asian Paints’ shareholders had a fear that Goldman Sachs just confirmed— Indians will not rush to do up their homes</a>

Asian Paints blames slow car production for fall in sales⁠— and that pain is far from over

<ul><li><keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> reported around 67.4% fall in its consolidated net profit to ₹219.61 crore for the first quarter.</li><li>However, this is still better than what analysts had predicted. Edelweiss Securities <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-share-price-this-may-be-the-worst-summer-for-sales-and-profit/articleshow/77119613.cms">had projected a 95% fall in profits</a>. </li><li>This is the first time that Asian Paints has registered negative growth in the first quarter in at least 3 years.</li></ul>India’s largest multinational paint company Asian Paints earnings reflect the lockdown pain, as expected, but some ray of hope lies in healthy business growth reported in June. Asian Paints reported around 67.4% fall in its consolidated net profit to ₹219.61 crore for the first quarter ended June 30. The total revenue was down 43% year-on-year to ₹2,922.66 crore during the period, the company said. However, this is still better than what analysts had predicted. According to Edelweiss Securities, <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-share-price-this-may-be-the-worst-summer-for-sales-and-profit/articleshow/77119613.cms">the revenue was projected to fall at least 53% and</a> profit by 95%. The company shares erased some losses post the earnings. “While the quarter ended in a negative territory, the business registered a healthy double digit volume growth in the month of June’20 to end the quarter on a promising note,” said Amit Syngle, managing director and CEO of Asian Paints. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particular </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% Contribution to Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paints </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.20% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-42.50% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Home Improvement </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.80% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.90% </td></tr></tbody></table> This is the first time that Asian Paints has registered negative growth in the first quarter in at least 3 years. The quarter is usually full of business for paints companies around the country as people renovate homes during the traditional wedding season, and ahead of the incoming monsoons. <div type="image" title="Asian Paints deepn" msid="77146481" hostid="261"></div> The company witnessed a ‘complete washout’ in the month of April due to the extended Lockdown, it said. What remains to be seen is how much of this recovery seen in June will be sustainable going forward. As paints are not listed as an essential service, in the past three months most of their manufacturing units were shut, and later after many were reluctant to allow painters in the house immediately due to the fear of the virus. However, “the Decorative business segment witnessed improving business conditions over the next two months,” the company said. The halted production of automobiles, which form a big chunk of the company’s revenue, also impacted the company’s recovery. “The other business segments in India including the two industrial coatings businesses and both the segments in the Home Improvement category also witnessed improving trends in June ’20, albeit at a lower pace,” said Syngle. SEE ALSO: <a href="https://www.businessinsider.in/india/news/vistara-airline-airbus-a321neo-india-first-full-sleeper-flights-for-business-class/slidelist/77141209.cms" data-type="tilCustomLink">Inside pics of Vistara’s Airbus A321neo— India’s first full ‘sleeper’ flights for business class</a> <a href="https://www.businessinsider.in/stock-market/markets/news/gold-ril-tech-mahindra-and-sun-pharma-shine-as-investors-seek-safe-houses-the-rush-may-only-increase/articleshow/77144441.cms" data-type="tilCustomLink">Gold, RIL, Tech Mahindra and Sun Pharma shine as investors seek safe houses – the rush may only increase</a>

Asian Paints profit falls nearly 68% - but demand recovery in June could hold ray of hope

<ul><li><keyword id="6977543" type="UNKNOWN" weightage="20" keywordseo="Asian-Paints-Q2">Asian Paints Q2</keyword> earnings deliver on all fronts, led by strong volumes and margin growth.</li><li>Revenue grew by 5.4% year-on-year to ₹5,350 crore during the July-September quarter. </li><li>Margin surges to 23.7%, while decorative paints business clocks in double-digit volume growth</li></ul>India’s largest multinational paint company Asian Paints reported a better than expected second quarter on the back of double-digit volume growth in the decorative paint business. The company’s consolidated profit grew 1.1% to ₹851.90 crore for the first quarter ended September 30. The company’s total revenue from operations was up 5.5% year-on-year to ₹5350.23 crore during the period. The board of directors approved an interim dividend of ₹3.35 per share for the quarter. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 Growth (YoY) </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.5% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.1% </td></tr></tbody></table> Decorative paint segment led to strong growth The company said its decorative paint segment registered a healthy double-digit volume growth for the quarter with demand picking up across regions. <div type="image" title="Asian Paints portfolio" msid="78808793" hostid="261"></div> “All the business segments continued to witness improving demand conditions on a progressive basis during the second quarter of this financial year. Profitability across businesses was well supported by a better product mix, the stable raw material prices, favourable foreign exchange rate and the large number of cost optimization measures put in place by the management,” said Amit Syngle, Managing Director &amp; CEO, Asian Paints. Strong margins aided by low operating cost Crude oil derivatives are a key raw material used by paint companies, and with low crude oil prices in the last quarter, the margins were set to expand. Margins in the second quarter grew 4.8% to 23.7% compared to the same quarter last year. The raw material cost as a percentage of the net sales also declined 550 bps to 49.5%. The phased re-opening of the economy post the lockdown also helped the other business segments in India, industrial coatings businesses and home improvement category. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/former-tesla-cio-raises-150-million-for-his-saas-automotive-retail-startup-enters-the-unicorn-club/articleshow/78800958.cms" data-type="tilCustomLink">Former Tesla CIO raises $150 million for his SaaS automotive retail startup, enters the unicorn club</a> <a href="https://www.businessinsider.in/business/corporates/news/kumar-mangalam-birla-says-cement-industry-is-recovering-and-analysts-find-evidence-of-it-outside-ultratech-too/articleshow/78791281.cms">Kumar Mangalam Birla says cement industry is recovering and analysts find evidence of it outside UltraTech too</a> <a href="https://www.businessinsider.in/business/startups/news/uber-bus-pradeep-parameswaran-says-india-and-apac-will-follow-egypt-success/articleshow/78788982.cms">Uber Bus in India soon? Head of Mobility in APAC says he is ready to import the Egypt experiment</a> <a href="https://www.businessinsider.in/india/news/sadhguru-advice-government-should-give-tax-relief-for-sustainable-businesses/articleshow/78790522.cms">Sadhguru’s advice: Government should give tax relief for sustainable businesses</a>

Asian Paints posts a strong quarter as demand for decorative paints improves ahead of festive season

<ul><li><keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> is raising staff salaries or going ahead with annual increments to boost their morale amid the <keyword id="8829783" type="UNKNOWN" weightage="20" keywordseo="coronavirus-pandemic">coronavirus pandemic</keyword>. </li><li>The share prices of Asian Paints gained over 2% to ₹1,554 on May 15, as the salary hikes were announced. </li><li>As of now, there have been no layoffs in the company either. </li><li>Meanwhile, the third phase of the lockdown due to the coronavirus pandemic and people’s concerns with regard to social distancing is expected to hit Asian Paints sales </li></ul>At a time when a lot of employees are being handed out pink slips, Asian Paints is raising staff salaries or going ahead with annual increments to boost their morale amid the coronavirus pandemic. However, they’ve admitted that the revenues might fall. "We have to set an example of true leadership and an organisation that takes care of all its stakeholders. I have been updating the board regularly on all such initiatives and have received their approval for these actions. I see this as a big opportunity to step in and interact with every single employee and assuage their concerns in an uncertain marketplace. We are not in the hire and fire business,” <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/asian-paints-raises-staff-salaries-to-boost-morale/articleshow/75746239.cms?from=mdr">MD and CEO Amit Syngle told ET.</a> The share prices of Asian Paints gained over 2% to ₹1,554 on May 15, as the salary hikes were announced. As of now, there have been no layoffs in the company either. "Despite the challenging environment due to COVID-19, we haven't laid off people. Firing people is not the Asian Paints culture," a company official <a href="https://www.cnbctv18.com/business/asian-paints-to-go-ahead-with-salary-hikes-no-lay-offs-so-far-5928881.htm">told</a> CNBC. The paint maker said that the company is chalking out a plan for exceptional circumstances. In the meantime, Asian Paints asked its vendors to relax the payment terms to maintain the working capital. It is also giving concessions to dealers and free sanitization of paint shops, medical insurance of the painters. It added that a 45- day extension on payments would be provided — and 2% discount for those who make the payment within the stipulated time. This might help the company’s financial situation, and its employees in the long run. The third phase of the lockdown due to the coronavirus pandemic and people’s concerns with regard to social distancing is expected to hit Asian Paints sales. “We see signiﬁcant risks to sales growth as we expect consumers to down-trade and extend the repainting cycle given the macroeconomic slowdown,” the Goldman Sachs report predicts. See also: <a href="https://www.businessinsider.in/business/news/asian-paints-share-price-falls-as-goldman-sachs-downgrades-stock/articleshow/75691813.cms">Asian Paints’ shareholders had a fear that Goldman Sachs just confirmed— Indians will not rush to do up their homes</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-lays-off-13-of-its-workforce-announces-pay-cuts-for-all/articleshow/75756087.cms">Zomato lays off 13% of its workforce, announces pay cuts for all – CEO Deepinder Goyal says 40% of their restaurants could shut down in 12 months</a>

No layoffs, Asian Paints will give salary increments to boost employees morale

<ul><li>As per WPP and Kantar’s latest <keyword id="3755038" type="PERSON" weightage="20" keywordseo="BrandZ-Report">BrandZ report</keyword>, economic impact of COVID-19 led to a 6% drop in total value of ranking. </li><li>In challenging economic and social conditions created by the global pandemic and a pre-COVID-19 slowdown in the Indian economy, brands had to adapt quickly, with innovation and agility helping to fuel growth.</li><li>We caught up with brands like TCS, <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> and Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> to understand how they won their consumers’ trust even during gloomy times. </li></ul>Last week, WPP &amp; Kantar’s launched its BrandZ report featuring Top 75 Most Valuable Indian Brands 2020 report. This year’s ranking was worth $216 billion in brand value, a decline of 6% over last year, driven largely by a slowdown in the brand value of companies in the banking and automotive sectors. Despite the overall decline in brand value of the Top 75, 26 brands increased in value and five were new entrants. India’s top brands also performed well against other countries where declines in total brand value were much greater. For millions of Indians who stayed at home during the crisis, telecom providers have supplied a much-needed lifeline and fulfilled a growing demand for data-driven services like online gaming and media streaming. This helped Airtel (no.4, +36%, $13.9 billion) become the top telecom brand, while Jio saw its value increase 26%. Trusted brands have weathered the crisis better than brands with a low trust index. In a category where it is difficult to gain <keyword id="787639" type="PERSON" weightage="20" keywordseo="consumer-trust">consumer trust</keyword>, Airtel bet on its brand strategy of being open and transparent. It is now one of India’s <keyword id="418681" type="ORGANIZATION" weightage="20" keywordseo="Most-Trusted-Brands">most trusted brands</keyword> and grew by 36% in its brand value over last year. On what has helped Airtel float in an unstable market, Shashwat Sharma, CMO, Bharti Airtel, said, “As a brand we believe differentiation is critical, especially when it comes to delivering a brilliant customer experience and bringing unique services and solutions to customers. Through these uncertain times, we have been grateful for the opportunity to be able to deliver this differentiation and be the backbone that helped people to stay connected. From children having to take their classes online, to increased digital payments, to businesses finding new ways to keep their employees working, to enabling customers to have a few moments of entertainment in an otherwise dreary time, we have played a critical role in all their lives. Sharma added, “We see a silver lining to this disruption and we took a lead to help our customers in reducing disruptions in this unprecedented situation. We introduced several innovations within a matter of days so our customers can stay connected at all times – from online acquisition to simplifying payments journeys to the launch of Work from Home solutions to educating customers to recharge online, to having others do it for them enabling customers to easily access a varied range of services digitally.” Despite the paints industry struggling in India, top 5 brand Asian Paints (no. 5, $8.0 billion), grew its brand value by 14%, by focusing on meaningful difference, communications and innovation. The market leader, it has successfully brought out new products, while building a strong distribution network and raising its profile among key influencers like architects and professional painters. Addressing your consumers’ concerns tactfully plays an important role in improving brand value. Amit Syngle, MD and CEO, Asian Paints, said, “Asian Paints has always had a deep emotional connection with homes and as a legacy, owns ‘beautiful homes’ in a strong way. We have been able to nestle in the hearts of the consumers by being part of their journey, helping them design their dream home for years. In 2020, at the onset of the pandemic, our driving principle was to support the Government and the country and we pivoted our initiatives and communication towards the happiness and well-being of our consumers and partners. We have always invested in taking care of all our stakeholders and providing support during trying times. At Asian Paints, our core dictates us to care for our customers, the only way we know to earn their trust.” <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> was valued at 14,582M USD and placed at number 3. Rajashree R, CMO, TCS, said, “We are honoured to be amongst the top 3 brands in India. This is a recognition of the defining role TCS has played in transforming and globalizing India and its people. As part of the Digital India movement, we have played a key role in transforming industries, institutions and public services, thus becoming part of every Indian. With our thought leadership framework like Business.4.0 powered by the technology and innovation prowess, we have been crafting and enabling growth and transformation journeys for leading businesses all over the world as well as India. We would like to thank Kantar for recognizing the power of the TCS Brand and the achievements of the 450,000 employees behind it.”

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