The Scheme of amalgamation ('Scheme') of Akzo Nobel Coatings India, Akzo Nobel Car Refinishes India and Akzo Nobel Chemicals (India) (collectively referred to as 'transferor companies') with the Company became effective from 18 May 2012 with an Appointed Date of 1 April 2011.

Accordingly, the results for the year ended 31 March 2012 included the results of the transferor companies for that year. Their income from operations and profit before tax for the year ended 31 March 2012 amounted to Rs. 625 crore and Rs. 24.1 crore respectively.

The results for the quarters ended 31 March 2013 include the results of the transferor companies for the relevant period, whereas, the results for the quarter ended 31 March 2012 include the results of the transferor companies for the whole year. According the figures reported under the aforesaid quarter are not comparable.

Amit Jain, Managing Director, Akzo Nobel India commented, "Akzo Nobel India is well positioned to harness its potential as a leading coating company. In the face of challenging industry conditions in FY'13, a PBT growth of 13% is pointer to the inherent strengths of the company as an integrated coatings provider."

"New businesses such as ‘wood Finishes and Adhesives' were launched this year and crucial capacities added. We continue to invest in growth, focusing on developing people capabilities, leveraging Akzo Nobel global R&D for launching innovative products and on expanding the distribution reach for multiple businesses.

Given the company current cash position and expansion plans the Board has recommended a dividend of Rs 20 per share plus a special dividend of Rs 60 per share.

Performance for year ended March 2013

For year ended March 2013, the overall top-line rose 12% to Rs 2231.98 crore compared to corresponding previous year period. However company operating margins fell 40 bps to 8.4% as employee benefit expense as a percentage of net sales (net of stock adjustment) rose 70 bps to 7.9%, and other expense rose 10 bps to 25.8% limited by 60 bps fall in cost of materials consumed to 48.9% and 20 bps fall in purchase of stock in trade to 9%. As a result operating profits growth rose 8% to Rs 188.58 crore

Other income rose 23% to Rs 138.12 crore. Interest cost increased by 128% to Rs 8.93 crore. Depreciation rose 5% to Rs 38.65 crore. PBT as a result rose 13% to Rs 279.12 crore. Considering 320 bps rise in effective tax rate to 21.2% PAT rose 9% to Rs 219.86 crore. Considering prior period items of Rs 1.03 core net profit rose 8% to Rs 218.83 crore

The scrip is currently trading at Rs 1143.70.