Asian Paints Ltd has reported consolidated financial results for the period ending December 31, 2022.
Financial Results (Q3 FY2023) – QoQ Comparison
|Financials||Q3 FY2023||Q2 FY2023||% Change|
|Total Income||₹ 8723.30 crs||₹8553.04 crs||1.99%|
|Net Profit||₹1072.67 crs||₹782.71 crs||37.05%|
Financial Results (Q3 FY2023) – YoY Comparison
|Financials||Q3 FY2023||Q3 FY2022||% Change|
|Total Income||₹ 8723.30 crs||₹8599.05 crs||1.44%|
|Net Profit||₹1072.67 crs||₹1015.69 crs||5.61%|
• Extended monsoon & shorter Diwali impacted sales in October & November • 9MFY23 picture is strong, product mix was inferior • Rural sector saw downgradation w.r.t using economical paint vs luxury paint • Don’t think there is large structural change • Expect margin to improve going ahead • Expect backward integration to boost margin by 2% • Trying to improve product mix • Bath & kitchen segment has seen a dip in Q3 • Saw some slowdown in sanitary business in Q3 • There is no change in competitive pressure in the market • Seen market share gain of 3% in the last 3 years– Amit Syngle, CEO of Asian Paints
Asian Paints Ltd is currently 13% down this year.