Mumbai, May 2, 2018:Kansai Nerolac Paints Limited(KNPL), one of the leading Paint companies in India, today at the Board meeting announced its audited results for the fourthquarter of financial year 2017-18. For the quarter, the company declared sales of Rs.1204.2 Crores and net sales of Rs.5197.8 crores for entire year.
 
Government of India has implemented Goods and Service Tax (‘GST’) from 1st July, 2017. GST replaced Excise duty, Service Tax and various other indirect taxes. As required by Ind AS and SEBI Listing Agreement, revenue for the quarter ended 31^stMar2017 and year ended 31st March, 2017 were reported inclusive of Excise Duty. Revenue for the quarter ended 31stMar, 2018 is reported net of GST. Had the previously reported revenues been regrouped (netted off with excise duty), revenue growth of the Company would have been17 % for the quarter and14.6 % for the entire year.

EBIDTA wasRs.168.9 crores a growth of2.9% over the same quarter of the previous year.For the entire year, EBIDTA was Rs.789.8Crores a growth of 8.1% over the same period of the previous year.
 
Commenting on the results, Mr. H. M. Bharuka, Managing Director, Kansai Nerolac Paints Ltd said,“Company has continued to witness double digit growth in all segments this quarter.Inflation continued to be high this quarter also. The company is making sustained efforts to get price increases from its customers. The company expects the growth momentum to be sustained in the near future due to favorable macro- economic factors, though pressure on margins due to crude oil price increases and a volatile exchange rate will continue.”
 
Outlook of Indian Paint Industry:
The size of domestic paint industry is estimated at Rs.47000crores as of Mar 2018. The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry.