Mumbai - Asian Paints announced their financial results for the quarter and year ended March 31, 2023.

'It has been an outstanding year for us with a 14% volume growth and 20% value growth in our standalone business and a net profit growth of 31%. Our growths in both the Industrial coatings have been stellar, growing double digits in volume and value, delivering one of the highest profits in the last 2 decades. Overall, at a consolidated level we crossed Rs. 34,000 crores revenue and along with our decor and services diversification, we are now the largest integrated player in Home Decor Business.

In this quarter we have logged in the highest value ever, with the decorative and non-automotive Industrial businesses registering double digit volume and value growths. We have been able to improve our margins in the quarter sequentially and over last year through our persistent work on formulation and sourcing efficiencies and also helped by the easing inflation in raw material prices. In Home decor, our new categories of fabrics, decorative lighting, UPVC doors and windows did well, while Kitchen and bath were sluggish. The Global business was good in Middle East and Africa though but slower in Asia, however overall, delivered good bottom line numbers.

Going forward, as a market leader, we will continue to aggressively pursue growth. Our performance will be driven by our consistent focus on customer centricity, innovation, sustained investment in B2B business coupled with our powerhouse brand, robust supply chain and distribution network', said Amit Syngle, Managing Director & CEO of Asian Paints Limited.

Corporate Identification Number (CIN): L24220MH1945PLC004598 Regd Office : Asian Paints House, 6A Shanti Nagar, Vakola Pipeline , Santacruz (E), Mumbai 400055. India Corporate Communications : Tel : +91-22-6218 1168 (D) / 6218 1000 (B); Fax : +91-22-6218 1111; Email : proffice@asianpaints.com

About Asian Paints Limited:

Asian Paints is India's leading paint and decor company and ranked among the top 7 coatings companies in the world with a consolidated turnover of ? 34,489 crores (? 345 billion) with a market capital of approx. ? 3100 billion. Asian Paints along with its subsidiaries have operations in 15 countries across the world with 27 paint manufacturing facilities, servicing consumers in over 60+ countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home Decor products and is an emerging strong player in the Home Improvement and Decor space in India.

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