Asian Paints, India's leading paint manufacturer, has announced its Q4 results for FY23, reporting a 45.12% increase in consolidated net profit to ₹1,234.14 crore. The company's consolidated revenue from operations also rose by 11.33% to ₹8,787.34 crore, compared to ₹7,892.67 crore in the year-ago period.
In addition to the Q4 results, Asian Paints has declared a final dividend of ₹21.25 per equity share of face value of Re 1 for the financial year ended March 31, 2023. This brings the total dividend payout to ₹25.65 per equity share for FY23, representing a dividend payout ratio of 60%. The record date for the dividend is June 9, 2023, and the payment will be made on or after June 30, 2023, subject to shareholder approval at the company's 77th Annual General Meeting.
Asian Paints had earlier declared an interim dividend of Rs. 4.40 per equity share in October 2022, which was paid thereafter. For the year ending March 2022, the company had declared an equity dividend of 1915% amounting to ₹19.15 per share.
Overall, the Q4 results and dividend declaration are indicative of Asian Paints' strong financial performance and commitment to shareholder value creation. The stock price of Asian Paints has already risen by 3.22% to ₹3,138.60 on BSE, reflecting the positive market sentiment towards the company's results and dividend announcement.
