Total revenue stood at Rs 658 crore in Q1FY'16 as compared to Rs 641 crore of the corresponding quarter of the previous year; a YoY growth of 3%. Operating Profit stood at Rs 61 crore as compared to Rs 53 crore of the corresponding quarter of the previous year; a YoY growth of 14%. Profit after tax (PAT) stood at Rs 45 crore as compared to Rs 55 crore of the corresponding quarter of the previous year; mainly due to reduction in investment income owing to a special dividend payout

EBITDA margin of the company fell260 bps to 12.3% in Q1FY'16 compared to Q1FY'15 while PAT margin of the company fell170 bps to 6.9% over the same period.

JayakumarKrishnaswamy, Managing Director, Akzo Nobel India:

"Owing to continuous efforts towards improving efficiency and optimum utilisation of existing assets, the company has been able to consistently deliver and add value to our stakeholders. A healthy upswing in the operating profit is reflective of our constant pursuit of excellence and quality.

This year, AkzoNobel India completed 50 years of being listed with the Bombay Stock Exchange (BSE); a historic milestone achieved by the company."

Performance for the quarter ended June2015

For quarter ended June 2015,the overall top-line rose3% to Rs 658.4 crore compared to corresponding previous year period. Operating margins of the company rose 80 bps to 11.2% as cost of material consumed as a percentage of net sales (net of stock adjustment) fell 350 bps to 45.2% offset by60 bps rise in employee benefit expenses to 8.7% while other expenses increased 190 bps to 26.7% and purchase of stock in trade rose 10 bps to 8.1%.As a result operating profits increased 11% to Rs 73.75 crore.

Other income fell74% to Rs 7.51 crore. Interest cost decreased by 40% to Rs 0.38 crore. Depreciation fell 1% to Rs 13.15 crore. PBT before EO fell 17% to Rs 67.73 crore. The company had nil EO income during the quarter compared to EO income of Rs 2.67 crore in the corresponding previous year period. PBT after EO rose decreased 20% to Rs 67.73 crore.Considering 150 bps fallin effective tax rate to 33.1% net profit fell18% to Rs 45.31 crore.

Performance for year ended March 2015

For year ended March 2015,the overall top-line rose 5% to Rs 2526.99 crore compared to corresponding previous year period. However company operating margins rose 240 bps to 10.3% as cost of material consumed as a percentage of net sales (net of stock adjustment) fell 110 bps to 47.1%, employee benefit expenses rose10 bps to 8.1% while other expenses decreased 110 bps to 25.7% and purchase of stock in trade decreased 30 bps to 8.7%. As a result operating profits grew 36% to Rs 261.43 crore.

Other income rose 15% to Rs 65 crore. Interest cost increased by 1% to Rs 1.49 crore. Depreciation rose 20% to Rs 52.59 crore. PBT before EO as a result rose 34% to Rs 272.35 crore. The company had an EO income of Rs 2.67 crore compared to nil in the corresponding previous year period. PBT after EO was up 35% to Rs 275.02 crore. Considering 610 bps rise in effective tax rate to 32.3% PATrose 24% to Rs 186.31 crore.

Promoter's shareholding remains unchanged at 72.96% at the end of quarter ended June 2015 compared to previous quarter.

The scrip closed Rs 1381 at BSE