"It has been a record for AkzoNobel India with the company crossing the Rs 3000 crore mark in revenue and achieving Rs 342 crore as PBT from operations. In line with the company performance and its Dividend policy, the Board has recommended an enhanced dividend of Rs 22 per share."

"We have sprung back after demonetisation with both Coatings and Chemicals segments recording strong volume growth which is reflected in the full year's revenue growth and underlying business profitability. In line with our commitment to our shareholders, we have been able to deliver sustained profit growth during the year through investment in innovation, operational excellence programs and continued focus on sustainability and contribution to the society."

Performance for the quarter ended March 2017

For quarter ended March 2017, the overall top-line rose 10% to Rs 703.41 crore compared to corresponding previous year period. Operating margins of the company fell 270 bps to 11% leading a 12% fall in operating profit to Rs 77.1 crore.

Cost of material consumed as a percentage of net sales (net of stock adjustment) fell 140 bps to 45%. Purchase of stock in trade increased 220 bps to 14.9%. Employee benefit expenses increased 180 bps to 9.4% while other expenses decreased 10 bps to 20.4%.

Other income fell 16% to Rs 16.88 crore. Interest cost increased by 72% to Rs 1.29 crore. Depreciation rose 26% to Rs 16.76 crore. PBT before EO fell 19% to Rs 75.93 crore. The company had an EO income of Rs 3.87 crore during the current quarter related to adjustment of provisions relating to divested businesses compared to nil in the corresponding previous year quarter. PBT after EO fell 15% to Rs 79.8 crore. Considering 2540 bps fall in effective tax rate to 9% net profit rose 18% to Rs 72.64 crore.

Performance for year ended March 2017

For year ended March 2017, the overall top-line rose 7% to Rs 2824.88 crore compared to corresponding previous year period. However company operating margins rose 90 bps to 12.4% % leading a 15% increase in operating profit to Rs 348.88 crore.

Cost of material consumed as a percentage of net sales (net of stock adjustment) fell 130 bps to 44.7%. Purchase of stock in trade increased 150 bps to 11.6%. Employee benefit expenses increased 20 bps to 9.1% while other expenses decreased 120 bps to 22.3%.

Other income fell 13% to Rs 49.31 crore. Interest cost increased by 44% to Rs 3.19 crore. Depreciation rose 5% to Rs 56.51 crore. PBT before EO as a result rose 11% to Rs 338.49 crore. The company had an EO income of Rs 3.87 crore compared to Rs 9.9 crore in the corresponding previous year period. PBT after EO was up 9% to Rs 342.36 crore. Considering 400 bps fall in effective tax rate to 27.8% PAT rose 15% to Rs 247.02 crore.

The scrip closed Rs 1918 at BSE