The Board of Directors of Akzo Nobel India Limited approved the financial results for the quarter and the year ended March 31, 2018.
Following are the Performance highlights
Year ended 31 March 2018
Revenue from operations was ₹2,965 crore vs ₹2,825 crore of the previous year on a comparable basis.
Profit after Tax including Exceptional items was ₹401 cr vs ₹247 crore of the previous year.
Q4 FY18 versus Q4 FY17
Revenue from operations was ₹772 crore vs ₹705 crore of the corresponding quarter of the previous year on a comparable basis;
PAT was ₹238 crore as compared to ₹73 crore of the corresponding quarter of the previous year.
Amit Jain, Chairman, Akzo Nobel India:
“2017-18 has been a year of transformation for Akzo Nobel India following the separation of Specialty Chemicals business. A share buyback programme has been initiated for the benefit of the public shareholders of Akzo Nobel India Limited. In line with the company’s Dividend policy, the Board has recommended a dividend of ₹22 per share (previous year ₹22 per share).”
Jayakumar Krishnaswamy, Managing Director, Akzo Nobel India:
“Operating in a challenging business environment, we have delivered improved performance both in terms of revenue and profit. Transition to GST and high raw material costs impacted business performance. We continued our focus on product innovations, operational excellence programs and commitment to sustainability. Further, our Coatings manufacturing capacity was enhanced with the commissioning of a new powder coating facility at Thane in February 2018.