Kansai Nerolac Paints reported a strong Q4FY21 set. Revenues came at almost Rs 1,460 crore as compared to Rs 1,080 crore year-on-year and profit after tax came in at Rs 123 crore compared to Rs 65 crore.
Talking about momentum in the month of April, Anuj Jain, ED of the company said, “Last quarter was good because of the low base. The first 15-20 days were okay and we were quite bullish and the momentum was good. But suddenly the COVID numbers started increasing and after 20th the markets were impacted and the last one week or 10 days the sales momentum dropped. The demand has definitely fallen from the last week of April.”
On volume growth, Jain said, “The overall growth in Q4 was 34.7 percent and for the year it was little negative. For Q4 the difference in value and the volume was about s3 percent.”
On price hike, he said, “This is an inflationary period and the raw material prices, the input prices have gone up. We have initiated one price increase in decorative in the month of March. Also in industrial, they have started asking price increase from our customers in some segments and category we have already implemented the price increase.”
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(Edited by: By Abhishek Jha)