Akzo Nobel India announces Q4 and full-year 2023-24 financial results
Bangalore, May 17, 2024 The Board of Directors of Akzo Nobel India Limited, a leading paints and coatings company and maker of Dulux Paints, approved the financial results for the fourth quarter and the full year ended 31 March 2024.
Akzo Nobel India Limited Chairman and Managing Director, Rajiv Rajgopal, commented:
“Building on our record growth trajectory for the third straight year, Akzo Nobel India closed FY24 with new highs in absolute performance across revenue, gross margin, EBIT from operations and PAT. While doing so, our double-digit profitable momentum of five years gained further traction.
In the fourth quarter, double-digit volume gains made in our operating segments and saw an expected moderation on account of the industry-wide price corrections with demand being driven by value and B2B business. Sustained raw material deflation and favourable mix allowed us to invest in brand awareness and growth, while delivering further margin and profit expansion.”
Dividend proposal:
“Committed to enhancing value for its shareholders, The Board of Akzo Nobel India has proposed a final dividend of ₹ 25/- per share subject to shareholders’ approval, taking the recommended total dividend for FY24 to ₹ 75/- per share”, added Mr. Rajiv Rajgopal, Chairman and Managing Director, Akzo Nobel India.
Recent highlights:
Rocking star Yash announced as the new brand ambassador for Dulux Weathershield
The “It’s Colourful. It’s Powerful” campaign of the Dulux Weathershield range of super-premium exterior emulsions featuring superstar Yash was launched during the quarter. Boosted by the power of Yash, this pan-India campaign aims to strengthen the association of Dulux Weathershield Powerflexx with Indian paint consumers seeking high performance and bold aesthetics.
Debut affordable distemper launched in professional segment
Dulux Professional Interior A100 – our first affordable acrylic distemper in India – that combines superior coverage with anti-chalking properties was launched during the quarter in our Dulux Professional range of products. Packed with international quality pigments that give a fresh matte finish to project interiors, it is available in over 3,000 shades.
Unleashing the full power of wind energy with the latest water-based topcoat for wind blades
RELEST blade protection products from AkzoNobel‘s International range of marine and protective coatings was expanded with the launch of RELEST Wind WB Topcoat LI. This water-based topcoat is specifically engineered for wind blades. It’s high abrasion resistance and elasticity results in optimal protection from sand and rain erosion, as well as stress cracking. Designed for longevity, this low VOC topcoat has a life cycle of up to 25 years, in a wide range of conditions and applications.
Anti-microbial powder coating Interpon AM commercialized in India
While providing the required decorative effect together with the chemical, physical and performance characteristics expected from Interpon range of powder coatings, the newly introduced Interpon AM product range also has antimicrobial properties. It is designed to be used in areas where there is an obvious need to maintain a low level of microbes and is also effective in high human traffic areas like public transport, airports and schools.
Award & Recognition:
Our decorative paints brand Dulux was recognized with ‘Most Trusted Brands of India’ award for the second straight year, a strong validation of the trust Indian consumers repose on the superior quality Dulux products and services, innovation and customer service.
