In the fourth quarter, material cost added up to Rs 1,495.4 crore (up 2% YoY), employee expenses amounted to Rs 174.4 crore (up 13% YoY) and other expenses aggregated to Rs 499.6 crore (up 11% YoY).
PBDIT declined by 4.8% YoY to Rs 350.9 crore while PBDIT margin fell by 120 bps to 13.9% in the fourth quarter.
Profit before tax in Q4 FY24 stood at Rs 294.1 crore, up by 14% from Rs 257.9 crore in Q4 FY23.
For FY24, Berger Paints has reported net profit and net sales of Rs 1,169.8 crore (up 36% YoY) and Rs 11,198.9 crore (up 6% YoY), respectively.
Abhijit Roy, managing director & CEO, Berger Paints India, said: “We gained market share again in FY24 and as a milestone crossed Rs 10,000 crore in revenue and PAT of Rs 1,000 crore on a stand-alone basis, a significant event on our 100th year in India.
Our Q4 FY24 sales were at a healthy double digit volume growth. The value growth was adversely impacted by a massive 4%+ price reduction in the year, an increased contribution of high-volume low value products and a lower than expected sale in the luxury segment from the anticipation of a price reduction in this segment.
On the profitability front in Q4 FY24, while the gross margins were maintained, the EBIDTA reduced due to the one-off effect of subsidy received in Q4 FY23, negative operating leverage on account affixed cost on lower value base & the incremental operating cast of the new Sandila plant as well as the conscious call taken on brand building efforts leading to an increased advertisement expenditure.
On the whole the company did much better on an annual basis for FY24 delivering a stellar double digit improvement in profitability with all the business lines delivering well with strong double digit volume growths and improvements in profitability especially in the industrial segment.
We continue to be focussed on the waterproofing & construction chemicals segment where we saw exceptional growths this year and expect this trend to continue in the years ahead.
We remain confident of an improved demand scenario in the upcoming year and have prepared for the same with the launch of multiple innovative new products in the paint, coatings and waterproofing segments to ensure that we provide relevant solutions to the changing needs of our customers.”
Berger Paints India is engaged in retail, decorative and industrial painting solutions.
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