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Chandigarh 27th April:- Kansai Nerolac Paints Limited(KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the fourth quarter of financial year 2015-16. For the quarter, the company declared gross sales of Rs.1062.88 crores, marking a growth of10.6 % over the same quarter of the previous year. PBT was Rs.122.18 crores a growth of 38.4 % over the same quarter of the previous year.
For the year ending March 31, 2016, the company declared gross sales of Rs.4604.36 crores marking a growth of 9.3% over the same period of the previous year. For the year PBT due to normal operations was Rs 529.37 Crores a growth of 32.7% over the same period of the previous year. PBT including abnormal one time gain due to sale of land at Chennai was at Rs. 1064.71 Crores
Commenting on the announcement, H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd said that during the quarter, KNP continued to see high double digit volume and value growth in Decorative, however Industrial demand has been subdued and in single digit, due to the sluggishness in Automotive. During the quarter, while inflation was benign, we did start seeing some hardening of crude prices. He further said that the company has consciously passed on what-ever benefit it has received to its customers. Going forward, over the next six months we see demand sentiment likely to remain sluggish mainly due to drought like conditions across major parts of India. The hardening of crude rates could put pressure on the bottom line. While there is visibility of double digit growth in Decorative, situation with respect to Industrial in the near future remains a challenge.
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