“There is a strong focus on the bottom of the pyramid which offers good potential to grow and enlarge the pie,” it said.
The company expects its B2B business to pick up in the second quarter of FY25 after the end of the ongoing Lok Sabha elections. It further anticipates a strong growth in the government, infrastructure and construction business in the second quarter.
However, the company remains watchful of the geopolitical developments and its impacts on the raw material prices. “These could lead to increased volatility in some key inputs,” the company said.
Asian Paints expects Nepal and Egypt to continue experiencing macroeconomic headwinds which are likely to impact near-term performance of the company, it said.
Asian Paints Q4
Earlier in the day, the company reported its earnings for the final quarter of the previous financial year.
Asian Paints Ltd announced a 1.34% rise in its combined net earnings to Rs 1,275.3 crore for the fourth quarter ending March 2024. This marks a slight increase from the Rs 1,258.41 crore consolidated net profit recorded in the same period of the preceding fiscal year.
During the current quarter, its combined revenue from operations amounted to Rs 8,730.76 crore, slightly lower than the Rs 8,787.34 crore recorded the previous year. Meanwhile, total expenses for the fourth quarter increased to Rs 7,319.1 crore from Rs 7,181.66 crore in the corresponding period last year.
“We crossed the Rs 35,000 crore consolidated revenue milestone in FY2024. Our Decorative & Industrial coatings combined delivered volume growth of 10 per cent and value growth of 3.9 per cent for the year with our industrial segment registering double-digit value growth,” Asian Paints Managing Director and CEO Amit Syngle said.
He said the company’s international business has seen steady growth in the Middle Eastern and African markets but remains constrained by macroeconomic headwinds in South Asia and Egypt.
“Despite these challenges, profit delivery in the global business has been strong all through the year,” Syngle added.
Looking ahead, he said, “We remain confident about a pick-up in demand conditions with a favourable monsoon forecast”.