Asian Paints Q4FY22 and Year Ended result : Sales rises 34.6%, but Profit fall 0.2% to ₹850.42 Cr

Consolidated sales increase by 20.6% to ₹ 7,889.94 crores from ₹ 6,541.94 crores. An amount of ₹ 53.73 crores computed under ‘expected credit loss’ method is recognized as an exceptional item towards subsidy receivable for earlier years. Subsidy income under ‘other operating revenue’ is lower by ₹ 31.10 crores

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Over the course of 25 years, Asian Paints Ltd became a corporate force and India’s leading paints company. Driven by its strong consumer-focus and innovative spirit, the company has been the market leader in paints since 1967. Asian Paints is India’s leading paint company with a group turnover of ₹217 billion. The company along with their subsidiaries has operations in 22 countries globally with 27 paint manufacturing facilities servicing consumers in 65 countries through Berger International SCIB Paints Apco Coatings and Taubmans.

Asian Paints manufactures a wide range of paints for decorative and industrial use. The products of the company include ancilliaries automotive decorative paints and industrial paints. The company has posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹7,973.06 crore in the quarter ended on March 31, 2022 as against ₹6,726.84 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 18.53%.

The company has posted a consolidated Net Profit of ₹850.42 crore in the quarter ended on March 31, 2022 as against ₹852.13 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges down by 0.20%.

The status of the EPS of the company stood at ₹8.87 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹8.88, down by 0.11%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4FY21)
Total Income7,973.068599.056,726.84
Total Expenses6677.117220.295576.38
PBT /(Loss)1189.181393.721156.31
Total Tax /(credit)315.13362.43286.42
PAT /(Loss) [to the owners]850.421015.69852.13
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹29,481.29 crore in the financial year ended on March 31, 2022 as against ₹22,015.84 crore for the financial year ended on Mar 31, 2021, increased by 33.91%.

The company has posted a consolidated Net Profit of ₹3,030.57 crore in the financial year ended on March 31, 2022 as against ₹3,139.29 crore for the financial year ended on March 31, 2021. The PAT surges down by 3.46%.

The status of the EPS of the company stood at ₹31.59 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹32.73, down by 3.48%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income29,481.2922,015.84
Total Expenses25209.4417740.09
PBT /(Loss)4187.724304.35
Total Tax /(credit)1102.911097.60
PAT /(Loss)3,030.573,139.29
*figures are in Crores

(III) Key Highlights about the Performance :

  • 12M Consolidated sales increase by 34.6%
  • Q4 sales increase by 20.6%
  • 12M profit before exceptional items and tax remains flat; impacted by steep inflation in raw material prices
  • Improvement in gross margins on a sequential basis, increase by 450 basis points in Q4 compared to Q2
asian paints q4 results 2022 – Market Times

Asian Paints Consolidated Results, Q4-FY’22:
• Consolidated sales increase by 20.6% to ₹ 7,889.94 crores from ₹ 6,541.94 crores.
• PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) increases by 9.5% to ₹ 1,443.29 crores from ₹ 1,318.26 crores.
• PBDIT % to sales improve from 12.9% in Q2 to 18.3% in Q4.
• Profit before exceptional items and tax increases by 12.8% to ₹ 1,304.88 crores from ₹ 1,156.31 crores

Consolidated Results, 12M-FY’22:
• Consolidated sales increase by 34.6% to ₹ 28,923.48 crores from ₹ 21,485.20 crores.
• PBDIT (before share in profit of associates) decreases by 1.1% to ₹ 4,803.61 crores from ₹4,855.60 crores due to lower profits in international operations on account of higher inflationary conditions, despite a value growth of 16.3% in international operations.
• Profit before exceptional items and tax marginally decreases to ₹ 4,303.42 crores from ₹4,304.35 crores.

  • The Company has re-assessed expected timing of receipt of cashflow towards subsidy receivable from the State Governments and has accordingly provided for time value of money in the standalone and consolidated financial results for the quarter and year ended 31st March 2022. Consequently:
    • An amount of ₹ 53.73 crores computed under ‘expected credit loss’ method is recognized as an exceptional item towards subsidy receivable for earlier years.
    • Subsidy income under ‘other operating revenue’ is lower by ₹ 31.10 crores

  • Consequent to the currency devaluation, foreign currency translation loss of ₹ 139.87 crores is recognized in the ‘Other Comprehensive Income’ in consolidated financial results for the quarter and year ended 31st March 2022.
  • The current economic crisis in Sri Lanka has led to currency devaluation. This has resulted in recognition of exceptional item of ₹ 48.50 crores towards exchange loss arising on foreign currency obligations of Causeway Paints Lanka (Pvt.) Limited

Shares of Asian Paints Ltd was last traded in BSE at ₹3009.75 as compared to the previous close of ₹3016.60. The total number of shares traded during the day was 57589 in over 9429 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 3137.90
  • Intraday low of ₹ 3037.10