Financial Results For The Quarter Ended 30th September 2024
Highlights of the Consolidated Results:
Revenue from Operations for the quarter ended 30th September 2024 was Rs. 2774.6 crores as against Rs. 2767.3 crores in the corresponding quarter of the last year, representing an increase of 0.3%.
EBITDA (excluding Other Income) for the quarter ended 30th September 2024 was Rs. 434.2 crores as against Rs. 473.7 crores in the corresponding quarter of the last year, representing a decline of 8.3%.
Net profit for the quarter ended 30th September 2024 was Rs. 269.9 crores as against Rs. 292.1 crores in the corresponding quarter of the last year, representing a decline of 7.6%
Highlights of the Standalone Results:
Revenue from Operations for the quarter ended 30th September 2024 was Rs. 2430.7 crores as against Rs. 2439.8 crores in the corresponding quarter of the last year, representing a decline of 0.4%.
EBITDA (excluding Other Income) for the quarter ended 30th September 2024 was Rs. 383.4 crores as against Rs. 403.1 crores in the corresponding quarter of the last year, representing a decline of 4.9%
Net profit for the quarter ended 30th September 2024 was Rs. 229.0 crores as against Rs. 243.9 crores in the corresponding quarter of the last year, representing a decline of 6.1%
Financial Results For The Half Year Ended 30th September 2024
Highlights of the Consolidated Results:
Revenue from Operations for the half year ended 30th September 2024 was Rs. 5865.6 crores as against Rs. 5796.8 crores in the corresponding period of the last year, representing an increase of 1.2%.
EBITDA (excluding Other Income) for the half year ended 30th September 2024 was Rs. 956.6 crores as against Rs. 1030.4 crores in the corresponding period of the last year, representing a decline of 7.2%.
Net profit for the half year ended 30th September 2024 was Rs. 623.9 crores as against Rs. 647.0 crores in the corresponding period of the last year, representing a decline of 3.6%
Highlights of the Standalone Results:
Revenue from Operations for the half year ended 30th September 2024 was Rs. 5237.0 crores as against Rs. 5179.6 crores in the corresponding period of the last year, representing an increase of 1.1%.
EBITDA (excluding Other Income) for the half year ended 30th September 2024 was Rs. 867.1 crores as against Rs. 917.0 crores in the corresponding period of the last year, representing a decline of 5.4%.
Net profit for the half year ended 30th September 2024 was Rs. 534.5 crores as against Rs. 570.2 crores in the corresponding period of the last year, representing a decline of 6.3%
Q2 Performance Highlights
- Even though we registered marginal growth, we believe we have gained market share once again in this quarter.
- Construction Chemicals, Waterproofing, Wood coatings and Premium and Luxury topcoats continued to perform well within Decorative segment.
- Protective coatings did well as per expectations.
- Gross profit margin at 41.7% was highest in the last 10 quarters.
- Operating profit margin was within guidance level of 15% to 17% this quarter.
“The extended monsoons, adverse weather and 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 ten quarters and our operating margin remained within guidance levels in spite of 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 installation of 3804 new Colorbank tinting machines up to September 2024. The mass volume rang 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)Scale effect, (B)Our investment in a new manpower, (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 of in projects which has impacted profitability this quarter. Nepal continued to be challenging, but in 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.” said Mr. Abhijit Roy, Managing Director & CEO, Berger Paints India Limited.
