Asian Paints Q1 result | Profit up 80% YoY at Rs 1,036 crore on low base

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26 Aug, 2025 12:21

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Asian Paints on July 26 reported an 80.4 percent year-on-year growth in consolidated profit at Rs 1,036 crore for the quarter ended June 2022, partly due to a low base.

The June 2021 quarter, when the company reported a profit of Rs 574.30 crore, was affected by the second Covid wave.

Consolidated revenue for the April-June 2022 period came in at Rs 8,607 crore, a 54 percent growth over Rs 5,585.36 crore reported in the year-ago quarter.

"The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year, which had suffered from the first nationwide lockdown. The industrial business and the home improvement business also doubled its revenue on last year's low base," Amit Syngle, Managing Director & CEO of the paint company said.

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The international business, which had seen some continuity in the first quarter of last year, registered strong double digit revenue growth.

On the operating front, its EBITDA for the June quarter increased by 88.65 percent YoY to Rs 913.56 crore and the margin expanded by 194 basis points (bps) at 10.61 percent compared to the same period previous fiscal. One basis point is one-hundredth of a percentage point.

Gross margin, however, contracted sharply to 40.26 percent in Q1FY23, compared to 54.67 percent in June 2021 quarter despite price hikes taken by the company due to higher input cost.

"Steep inflation in raw material prices in the last quarter of previous financial year and again in this quarter saw gross margins impacted across all businesses despite the price increases taken to mitigate this pressure to an extent," Syngle said.

Asian Paints along with its subsidiaries have operations in 15 countries, with 26 manufacturing facilities, servicing consumers in over 60 markets.

The stock rebounded after the earnings announcement to trade 0.2 percent higher at Rs 3,111.80 on the NSE at 1.53 pm.