Berger Paints Financial Results for the quarter ended 31st March 2019

Highlights of the Consolidated Quarterly Results

a.       Revenue from Operations for the quarter ended 31^st March, 2019 was Rs.1, 471.1 crores as against Rs. 1.298.3 crores in the corresponding quarter of the last year representing an increase of 13.4% over the corresponding period of last year.

b.       EBIDTA (excluding other income) for the quarter ended 31^st March, 2019 was Rs. 211.7crores as against Rs. 200.2 crores in the corresponding quarter of the last year, representing an increase of 5.8% over the corresponding period of last year.

c.       Net profit for the quarter ended 31^st March, 2019 was Rs. 111.4 crores as against Rs. 106.2 crores in the corresponding quarter of the last year, representing an increase of 4.9 % over the corresponding period of last year.

Highlights of the Standalone Quaterly Results

a.       Revenue from Operations for the quarter ended 31^st March, 2019 was Rs.1352.7 crores as against Rs. 1194.8 crores in the corresponding quarter of the last year representing an increase of 13.2% over the corresponding period of last year.

b.       EBIDTA (excluding other income) for the quarter ended ended 31^st March, 2019 was Rs. 203.0 crores as against Rs. 189.1 crores in the corresponding quarter of the last year, representing an increase of 7.4%  over the corresponding period of last year.

c.       .Net profit for the quarter ended 31^st March, 2019 was Rs. 87.3 crores as against Rs. 110.4 crores in the corresponding quarter of the last year.

The net profit for the year 2018-19 is not comparable with that of 2017-18 since it is impacted by a provision of Rs. 28.60 crores as exceptional item recognized in the current year towards carrying value of the company’s investment in its wholly owned subsidiary, Berger paints Cyprus limited (BPCL) on account of losses sustained by the ultimate wholly owned subsidiary Berger Paints overseas limited (BPOL) due to downturn in Russian economy. This does not have any impact on the consolidated financial statements of the company, since year wise losses have been fully recognized in the respective consolidated financial statements in the normal course.

Highlights of the consolidated Yearly Results

a.       Revenue from operations for the year ended 31st March 2019 was Rs. 6,061.9 crores as against Rs 5,147.2 crores (excluding excise duty) in the corresponding year, representing an increase of 17.8%

b.       EBIDTA( excluding other income) for the year ended 31st March 2019 was Rs. 881.6 crores as against 807.0 crores in the corresponding quarter of the last year representing an increase of 9.2% over the corresponding period of last year.

c.       Net profit for the year ended 31st March 2019 was Rs. 497.5 crores as against Rs. 460.8 crores in the corresponding year, representing an increase of 7.9%. 

Highlights of the Standalone Yearly Results 

a.       Revenue from Operations for the year ended 31 March, 2019 was Rs.5, 515.6 crores as against Rs. 4,705.1 crores (excluding excise duty) in the corresponding year, representing an increase of 17.2%.

b.       EBIDTA (excluding other income) for the year ended 31^st March, 2019 was Rs. 810.2 crores as against Rs. 743.4 crores in the corresponding quarter of the last year, representing an increase of 9.0%  over the corresponding period of last year.

c.       Net profit for the year ended 31^st March, 2019 was Rs. 439.0 crores as against Rs. 431.8 crores in the corresponding year, representing an increase of 1.66%.

The net profit for the year 2018-19 is not comparable with that of 2017-18 since it is impacted by a provision of Rs 28.60 crores as exceptional item recognized in the current year towards carrying value of the company’s investment in its wholly owned subsidiary, Berger Paints Cyprus Limited (BPCL) on account of losses sustained by the ultimate wholly owned subsidiary Berger Paints Overseas Limited (BPOL) due to downturn in Russian economy. This does not have any impact on the consolidated financial statements of the company, since year wise losses have been fully recognized in the respective consolidated financial statements in the normal course.

The board recommended dividend of Rs.1.90 (190%) per equity share of Re. 1 each for the financial year ended 31 March 2019.