For FY25, the company has posted Rs. announced an interim dividend of 70 and attributed it to “strong performance in the first half of FY25 and commemoration of Akzo Nobel India’s 70th year in India”.
The paint maker, which is Europe’s largest, is looking to consolidate its presence in the Indian paint market by partnering with a larger peer or selling its Indian unit. The company recently said it will undertake a strategic review of its decorative paint business in South Asia.
“We continued to deliver volume growth while maintaining profitability,” said Rajiv Rajagopal, chairman and managing director of Akzo Nobel India, which is seeking a sale of the Indian unit amid increasing competition. The paint manufacturer currently has a 5% market share in India, and is the most profitable.
“Topline growth was driven by strong B2B performance across paints and coatings. While raw material costs have increased, we have invested in growth and protected our double-digit profitability by optimizing operational costs,” he added.
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In the first half of the current financial year, Paint Markers made Rs. 212.5 crore, up 4% over the same period a year ago, and income from operations rose 3% to Rs. 2,018.6 crores. EBIT from operations during the period was Rs. 271.30 crore, an increase of 3%.
Rajagopal added that despite challenging market conditions in the first half of FY25, the company “continued to grow while maintaining our profitability.”
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