Extraordinary items include a net profit of Rs 665.4 crore on the sale of land in Lower Parel in Mumbai and a provision of Rs 186.3 crore for its long -term investment, loan, obtained and financial guarantee in its subsidiaries in Bangladesh and Sri Lanka. ,
According to a press release, strong growth in infrastructure, core sectors and automobiles and real-estate industries is expected to positively affect the demand for paint over the long term.
Managing Director Anuj Jain said, “The company saw a good increase in paint+ products, projects, wood coatings and construction chemicals.” “Demand in decorative due to high inflation affected the demand, reducing the expenditure on discretionary products and tight liquidity.”
Jain estimates that recent budget announcements will help improve the consumption cycle, which will positively affect demand.
(Tagstotranslet) Cansai Nerolac Paints Limited (T) Share Price
