365telugu.com,online news,Hyderabad, 9thMay, 2020: Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its audited results for the fourth quarter of financial year 2019-20. For the quarter, the company declared Net revenue of Rs. 988 Crores a de-growth of 14.3 % over the corresponding quarter of the previous year. For the twelve months ending March 31, 2020, the company had a Net revenue of Rs. 4943 Crores a de-growth of 4.5 % over the corresponding period of the previous year.
EBIDTA was at Rs. 128 crores a de- growth of 14.6 % over the same quarter of the previous year. PAT was at Rs 71 crores a de-growth of 23 % over the same quarter of the previous year. For the twelve months ending March 31, 2020, company reported an EBITDA of Rs. 782 Crores a growth of 5.3 % over the same period last year. Net profit growth was up by 14.6 %. Board recommended a dividend of 315 % compared to 260 % last year.
Commenting on the results, Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said, “Sales and Bottomline was impacted this quarter due to the outbreak of COVID 19. Demand for Automotive paints continued to be severely impacted due to the continued unprecedented slowdown in Auto. Decorative growth was better.
Despite the year being extremely challenging, due to an aggressive cost control program and judicious management of overheads the company was able to improve EBTDA by 5.3 % and improve EBITDA margin by 150 basis points. PBT was impacted due to lower other income and higher depreciation. In the challenging business situation, company was also able to release cash of Rs. 123 Crores from working capital.Looking forward, the prolonged uncertainty due to COVID has created further demand destruction in the near term.