Shares of main paint maker Asian Paints rose as a lot as 11 per cent to hit an intraday excessive of Rs 2,839 on the BSE after it reported leap of 81 per cent in standalone internet revenue for quarter ended March 2021. Asian Paints internet revenue got here in at Rs 820 crore in contrast with Rs 452 crore throughout the identical quarter final yr. Its income from operations superior 46 per cent to Rs 5,671 crore as towards 3,879 crore within the corresponding interval a yr in the past.
”The home ornamental enterprise delivered a stellar efficiency registering a 48 per cent quantity development within the quarter, led by sturdy development within the premium and luxurious product vary. The dwelling enchancment enterprise additionally grew in a giant approach, registering file gross sales for the quarter aided by the foray into the house décor enterprise,” mentioned Amit Syngle, Managing Director & CEO, Asian Paints.
The Board of Directors really useful a remaining dividend of Rs 14.50 per fairness share (1450 per cent). The Company distributed first interim dividend of Rs 3.35 per fairness share (335 per cent) in November 2020 for FY 2020-21. Total dividend of Rs 17.85 per fairness share (1785 per cent) was distributed for FY 2020-21. The dividend payout ratio was 56.1 per cent for FY 2020-21, Asian Paints mentioned in a inventory trade submitting.
As of 12:57 pm, Asian Paints shares traded 9.2 per cent increased at Rs 2,791, outperforming the Sensex which was down 0.02 per cent.
