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Akzo Nobel India held a conference call on 04 November 2023 to discuss the results for the quarter ended September 2023 and way forward. Mr. Rajiv Rajgopal - Managing Director, Mr. Krishna R- Chief Financial Officer and Whole time Director of the company addressed the call.
Highlights of the Concall
- Revenue grew 3% to Rs 956.3 crore led mostly by B2B segment projects in paints and the coating business as retail sales was relatively muted.
- Gross margins improved 600 bps which was mainly attributed to easing of raw material costs coupled with favourable mix.
- The company mentioned that its paints business is now almost on a negative workling capital which supports healthier cash flows.
- The company has grown in its paint portfolio in rural areas in Q3 which is largely due to its distribution efforts which was ongoing for almost a year and a half. But the company rural portfolio has a samll base compared to its competitors.
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