Latest news with #JSWPaints
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Business Standard
7 days ago
- Business
- Business Standard
Akzo Nobel Q1 results: Net profit falls 20.5% to ₹91 crore on weak demand
Paints and coatings maker Akzo Nobel India Ltd on Monday reported a 20.6 per cent decline in consolidated net profit to ₹91 crore in the June quarter, impacted by lower sales amid tepid consumer demand. It had posted a consolidated net profit of ₹114.6 crore in the corresponding period last fiscal, Akzo Nobel India said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at ₹995.1 crore as compared to ₹1,036.3 crore in the year-ago period, it added. Total expenses in the April-June quarter were marginally lower at ₹881.6 crore against ₹891.7 crore in the same period a year ago, the company said. The company, in which JSW Paints had agreed to buy a 74.76 per cent stake for ₹8,986 crore last month, followed by an open offer to buy another 25 per cent from the open market for up to ₹3,929.06 crore, said its board has approved a one-time special interim dividend of ₹156 per share. Akzo Nobel India Chairman and Managing Director Rajiv Rajgopal said, "In Q1 of FY2025-26, our B2B segment continued its growth trajectory, while retail was subdued due to tepid consumer demand and heightened competition. Despite margin pressure, we sustained double-digit profitability and maintained investments in growth initiatives." On the special interim dividend, he said, "Expressing gratitude to all our shareholders, the board is delighted to announce a one-time special interim dividend of ₹156 per share, inter alia, based on income on slump sale as previously approved by shareholders." Shares of the company were trading 2.06 per cent higher at ₹3,712 apiece on the BSE.
Time of India
7 days ago
- Business
- Time of India
Akzo Nobel India Q1 net profit falls 20.5 pc to Rs 91 cr
New Delhi: Paints and coatings maker Akzo Nobel India Ltd on Monday reported a 20.6 per cent decline in consolidated net profit to Rs 91 crore in the June quarter, impacted by lower sales amid tepid consumer demand. It had posted a consolidated net profit of Rs 114.6 crore in the corresponding period last fiscal, Akzo Nobel India said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 995.1 crore as compared to Rs 1,036.3 crore in the year-ago period, it added. Total expenses in the April-June quarter were marginally lower at Rs 881.6 crore against Rs 891.7 crore in the same period a year ago, the company said. The company, in which JSW Paints had agreed to buy a 74.76 per cent stake for Rs 8,986 crore last month, followed by an open offer to buy another 25 per cent from the open market for up to Rs 3,929.06 crore, said its board has approved a one-time special interim dividend of Rs 156 per share. Akzo Nobel India Chairman and Managing Director Rajiv Rajgopal said, "In Q1 of FY2025-26, our B2B segment continued its growth trajectory, while retail was subdued due to tepid consumer demand and heightened competition. Despite margin pressure, we sustained double-digit profitability and maintained investments in growth initiatives." On the special interim dividend, he said, "Expressing gratitude to all our shareholders, the board is delighted to announce a one-time special interim dividend of Rs 156 per share, inter alia, based on income on slump sale as previously approved by shareholders." Shares of the company were trading 2.06 per cent higher at Rs 3,712 apiece on the BSE.
Time of India
02-08-2025
- Business
- Time of India
Jindal hopes for 8 trillion dollar economy in 6 years
Hubballi: India will achieve an eight trillion dollar economy in the next six years, Parth Jindal, managing director of JSW Cement Limited and JSW Paints said. Addressing the 97th Founders Day of the Karnatak Chamber of Commerce and Industry (KCCI) here on Saturday evening, Jindal said that Indians need not worry about the US President Donald Trump's statement regarding a dead economy. "The Indian economy is the fastest-growing one. Since we have 75% of the youth force, we need to create 20 lakh jobs per year, whereas we are currently creating 10 lakh. We have plenty of investment opportunities in the manufacturing sector, which can boost our economy," he opined. He presented the Vanijya Ratna Awards-2025 to Jayanth Ashok Humbarawadi of Belagavi, Prakash S Bafna and G Devaki Yogananda of Hubballi, Siddanna Nalwad of Koppal, Sharanabasappa Gudimani of Gadag, and Ravindrakumar Beknal of Kalaburagi. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Economic Times
30-07-2025
- Business
- Economic Times
Birla Opus becomes third-largest player by revenue in six months of pan-India operations
Birla Opus, the paints business of the Aditya Birla Group, is the third-largest player by revenue in the decorative paints segment within six months of its pan-India operations, Himanshu Kapania, the managing director of Grasim Industries said. This is as per the FY 2024-25 exit run rate and internal estimates of the company. 'This is a feat unprecedented globally in the paints industry,' Kapania said in the company's annual report for 2024 – 25 (Apr – Mar). Birla Opus is housed within Grasim Industries and commenced operations last fiscal. The decorative paints business represents a galactic opportunity for the company. 'With rising per capita income, young population, booming real estate sector and shorter repainting cycles, the potential for growth in paint consumption is immense,' he company plans to have a total production capacity of 1,332 million litres per annum – which is 24% of the industry's capacity – and has already commissioned five out of its six greenfield plants, which have a total production capacity of 1,096 million litres per annum. It started commercial production in April last has spent Rs 2,288 as capital expenditure on the paints business in fiscal 2025, and a total of Rs 9,352 crore on the business so far, which is nearly 94% of its planned capital expenditure of Rs 10,000 crore for the business. 'FY 2025-26 will be a defining year for Birla Opus, with the Kharagpur plant becoming fully operational in H1. This will unlock major efficiencies in logistics and operations, enhancing our ability to meet market demand swiftly,' the company said in its annual also reiterated its target of achieving Rs 10,000 crore in revenue within three years of full-scale previous fiscal was one of the worst for the industry in more than two decades, with demand seeing a year-on-year decline. Industry incumbents pointed out that a combination of weak demand and the entry of a new player weighed on their 1,500 million litres of annual production capacity was added in the domestic paint industry last fiscal, which at around 40% of the industry's existing capacity, is the highest capacity addition in a single year in nearly 100 years. Apart from the capacity addition, the paint industry is also seeing some consolidation. JSW Paints recently announced the acquisition of Akzo Nobel's business in India, valuing the company at Rs 12,000 crore. This is set to make the company the fourth-largest in the industry, and the second-largest in the industrial paints segment. 'Even as JSW Paints is a rational competitor, we expect a rise in competitive intensity—especially in the premium segment where APNT holds a dominant 65-70% share—driven by Dulux's strong brand equity, under-penetration (latent potential) and JSW Group's execution prowess,' Kotak Institutional Equities said in a recent report.
Time of India
20-07-2025
- Business
- Time of India
JSW Paints seeks CCI nod to acquire majority stake in Akzo Nobel India for ₹12,915 crore
NEW DELHI: Sajjan Jindal-led JSW Paints has sought approval from the Competition Commission of India (CCI) to acquire a majority stake in Dutch paint maker Akzo Nobel's India unit in a Rs 12,915-crore deal. The development came after JSW Paints announced in June this year that it will buy a 74.76 per cent stake in Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from open market for up to Rs 3,929.06 crore, totalling over Rs 12,915 crore, to become the fourth-largest player in the paint industry in the country. "The proposed transaction relates to the acquisition of up to 75 per cent shareholding in the target (Akzo Nobel India Ltd) by the acquirer (JSW Paints Ltd) through a share purchase agreement, and a mandatory open offer," according to a notice filed with the Competition Commission of India. The parties (JSW Paints and Akzo Nobel India) said the proposed combination does not raise competition concerns in any plausible relevant markets and therefore, the relevant market delineations may be left open. JSW Paints is a part of the USD 23 billion JSW Group, one of India's leading conglomerates with diverse interests across a range of B2B and B2C sectors, including steel, cement, energy infrastructure, automotives and paints. Akzo Nobel India Ltd (ANIL) is a decorative and industrial paint player and part of Netherlands-headquartered Akzo Nobel. In June, Akzo Nobel NV, in a global statement, said it has signed an agreement to sell its shareholding in Akzo Nobel India to the JSW Group. However, the Dutch parent firm also said the India Powder Coatings business and International Research Centre, both currently part of ANIL, will be "retained by Akzo Nobel" under full ownership. JSW Paints, with other group entities JTPM Metal Traders and JSW EduInfra, has also announced an open offer to acquire the remaining 25.24 per cent share of ANIL from the public shareholders for a total consideration of up to Rs 3,929.06 crore. The deal will help JSW Group expand its play in the paint segment, which it entered in 2019. JSW Paints Managing Director Parth Jindal said paints & coatings is one of India's fastest-growing sectors, and JSW Paints is among the fastest-growing paint companies. "Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens. We are excited to welcome them to the JSW family. Together, along with the Akzo Nobel India family -- employees, customers and partners -- we aspire to build the paint company of the future," he said. In October 2024, Akzo Nobel NV announced a strategic review of its portfolio in South Asia and is looking for strategic options, including partnerships, joint ventures, mergers or divestments. This is to deploy capital towards expanding its core coatings business. Its revenue from operations in FY25 was Rs 4,091.21 crore. The Indian paint industry is led by Asian Paints. Besides Berger, Kansai Nerolac, Akzo Nobel India (Dulux), Indigo Paints, Shalimar Paints, and Nippon Paints are the other top brands. In the last 5-6 years, several new players have entered the market, including Pidilite with Haisha Paints, Grasim with its Birla Opus, and JSW Paints.
