Commenting on the results, Mr. H. M. Bharuka, Vice Chairman and Managing Director, Kansai Nerolac Paints Ltd said,“Decorative segment has registered goodvolume and value growth in the given environment.This helped offset the continued and unprecedented slow-down in the automotive and other OEMs segmentswhere the company has a significant exposure. The company’s decorative sales were impacted due to factors like extended monsoon, floods in many key states and low off-take in Kashmir where KNP has a major presence. The company has been building traction in the niche business areas that the company is focusing on. Company was able to maintain growth in ARF, Protective Coating and Powder segments of the market. Our subsidiaries in Nepal and Bangladesh have done well.
During the quarter, input costs were stable and in line with the previous quarter trend.This along with judicious control on costs has helped improve the bottom-line. Exchange rate and crude oil prices continued to show volatilitycreating challenges in raw material cost management.Company commenced commercial operations at the Punjab plant. The company sees a slowdown in Decorative segment though it expects a revival once the unseasonal rains subside. Challenges of demand in Industrial are expected to continue for the near future.”
Chemical Market has been in the industry since almost 40 years. We owe our success to you and since the last few years things have been crazy for the world at large. The editorial independence has never been more important.
Our articles and press releases come from reliable sources and we keep delivering high impact trustworthy news, reviews and technical articles and reports free from commercial or political influence.
We believe everyone deserves equal access to accurate news and there are many news aggregator sites but we don't participate in those as they have a very broad criteria where not all news articles sites can participate and not all of them are true articles written for the purpose of knowledge but mostly are commercialized. We bring you news and information in the chemical industry and provide vital information to make decisions based on fact and not fiction.
Subscribe our magazine for as little as Rs.50 a month (Rs. 600/yr) or $1 a month ($11.99/yr)
