Asian Paints has reported a significant drop in its financial performance for the quarter ending September 2024. Key metrics, including net sales, net profit, and EBITDA, have shown a decline compared to the same period in the previous year.
Highlights of Financial Performance
- Net Sales: The company’s net sales for September 2024 stood at ₹8,027.54 crore, marking a 5.32% decrease from ₹8,478.57 crore in September 2023.
- Net Profit: Quarterly net profit saw a more considerable drop, falling by 42.37% from ₹1,205.42 crore in September 2023 to ₹694.64 crore in September 2024.
- EBITDA: The earnings before interest, taxes, depreciation, and amortization (EBITDA) for September 2024 was ₹1,413.06 crore, reflecting a decrease of 24.89% from ₹1,881.43 crore in September 2023.
- Earnings Per Share (EPS): The EPS for the quarter was ₹7.25, down from ₹12.57 during the same quarter last year.
Asian Paints’ stock closed at ₹2,769.45 on November 7, 2024, reflecting a 2.60% decline over the past six months and a 10.53% decrease over the last year. Below is a more detailed breakdown of the quarterly financial performance:
| Metric | Sep 2024 | Jun 2024 | Sep 2023 |
|---|---|---|---|
| Net Sales/Income from Operations | ₹8,027.54 Cr | ₹8,969.73 Cr | ₹8,478.57 Cr |
| Consumption of Raw Materials | ₹4,081.47 Cr | ₹4,079.44 Cr | ₹3,918.27 Cr |
| Purchase of Traded Goods | ₹1,007.45 Cr | ₹954.25 Cr | ₹1,036.00 Cr |
| Employee Cost | ₹676.50 Cr | ₹674.22 Cr | ₹596.11 Cr |
| Depreciation | ₹241.99 Cr | ₹227.70 Cr | ₹208.72 Cr |
| Other Expenses | ₹1,357.21 Cr | ₹1,447.17 Cr | ₹1,364.76 Cr |
| Profit Before Other Income, Interest, Tax | ₹997.52 Cr | ₹1,466.07 Cr | ₹1,507.51 Cr |
| Net Profit After Tax | ₹662.54 Cr | ₹1,150.07 Cr | ₹1,203.26 Cr |
| Diluted EPS | ₹7.24 | ₹12.20 | ₹12.57 |
The decline in revenue and profitability indicates a challenging quarter for Asian Paints, reflecting pressure from various operational costs and market dynamics.