Board Change • Jul 02
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Director Sutapa Banerjee was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 15
JSW Dulux Limited announces Annual dividend, payable on August 08, 2026 JSW Dulux Limited announced Annual dividend of INR 50.0000 per share payable on August 08, 2026, ex-date on July 03, 2026 and record date on July 03, 2026. Announcement • May 14
JSW Dulux Limited, Annual General Meeting, Jul 10, 2026 JSW Dulux Limited, Annual General Meeting, Jul 10, 2026. Price Target Changed • Mar 24
Price target decreased by 16% to ₹3,100 Down from ₹3,670, the current price target is provided by 1 analyst. New target price is 8.7% above last closing price of ₹2,852. The company is forecast to post earnings per share of ₹81.60 for next year compared to ₹94.31 last year. Board Change • Feb 12
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Shantanu Khosla was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 03
Third quarter 2026 earnings released: EPS: ₹16.32 (vs ₹23.85 in 3Q 2025) Third quarter 2026 results: EPS: ₹16.32 (down from ₹23.85 in 3Q 2025). Revenue: ₹9.22b (down 12% from 3Q 2025). Net income: ₹743.0m (down 32% from 3Q 2025). Profit margin: 8.1% (down from 10% in 3Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Nov 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 83% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 83% per year for the foreseeable future. High level of non-cash earnings (242% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Aug 05
Akzo Nobel India Limited Approves Final Dividend for the Financial Year Ended March 31, 2025 Akzo Nobel India Limited at its AGM held on August 4, 2025, confirmed to declare final dividend of INR 30 per equity share of the Company for the financial year ended March 31, 2025. Reported Earnings • Aug 05
First quarter 2026 earnings released: EPS: ₹19.98 (vs ₹25.17 in 1Q 2025) First quarter 2026 results: EPS: ₹19.98 (down from ₹25.17 in 1Q 2025). Revenue: ₹9.95b (down 4.0% from 1Q 2025). Net income: ₹910.0m (down 21% from 1Q 2025). Profit margin: 9.1% (down from 11% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 04
Akzo Nobel India Limited Declares One-Time Special Interim Dividend The Board of Directors of Akzo Nobel India Limited, at its meeting held on 4th August 2025, has considered and resolved Declared a one-time Special Interim Dividend of INR 156 per equity share for the Financial Year 2025-26 out of the retained earnings of the Company as on 30 June 2025 and including the income realized from slump sale transactions (as earlier approved by the shareholders) of the Company, for the purpose of expediency. This Special Interim Dividend shall be paid within 30 days from 4th August 2025. Fixed 11 August 2025, as the Record Date for determining entitlement of members to the aforesaid one-time special interim dividend for the Financial Year 2025-26. Upcoming Dividend • Jul 18
Upcoming dividend of ₹30.00 per share Eligible shareholders must have bought the stock before 25 July 2025. Payment date: 03 September 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.7%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.7%). Reported Earnings • Jul 03
Full year 2025 earnings released: EPS: ₹94.31 (vs ₹93.68 in FY 2024) Full year 2025 results: EPS: ₹94.31 (up from ₹93.68 in FY 2024). Revenue: ₹40.9b (up 3.3% from FY 2024). Net income: ₹4.30b (flat on FY 2024). Profit margin: 11% (in line with FY 2024). Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 27
JSW Paints Limited agreed to acquire 74.76% stake in Akzo Nobel India Limited (BSE:500710) from Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V. for INR 94.0 billion. JSW Paints Limited agreed to acquire 74.76% stake in Akzo Nobel India Limited (BSE:500710) from Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V. for INR 94.0 billion on June 27, 2025. A cash consideration valued at INR 2762.05 per share will be paid by JSW Paints Limited. The transaction is subject to relevant statutory approvals including but not limited to approval from the Competition Commission of India and completion of the mandatory open offer. Morgan Stanley acted as financial advisor, Khaitan & Co. acted as legal advisor and Deloitte Touche Tohmatsu Limited acted as financial and tax due diligence provider to JSW Paints Limited. Announcement • May 16
JSW Paints Reportedly Frontrunner for Akzo India The fight for Akzo Nobel India Limited (BSE:500710) has now boiled down to just two players - JSW Paints Limited and Indigo Paints Limited (NSEI:INDIGOPNTS) - with Pidilite not putting in bids, sources said. Amongst the two, JSW Paints is said to be a frontrunner, those aware of the discussions revealed. Owners of the Dulux brand, Akzo India has a near-8% market share. The deal is expected to be valued at INR 100.00 billion - INR 120.00 billion, it is being said, with the winner picking up decorative and industrial coatings. Declared Dividend • May 16
Final dividend increased to ₹30.00 Dividend of ₹30.00 is 20% higher than last year. Ex-date: 25th July 2025 Payment date: 3rd September 2025 Dividend yield will be 2.8%, which is higher than the industry average of 0.8%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio) nor is it covered by cash flows (212% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. EPS is expected to grow by 23% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Announcement • May 15
Akzo Nobel India Limited, Annual General Meeting, Aug 04, 2025 Akzo Nobel India Limited, Annual General Meeting, Aug 04, 2025, at 14:30 Indian Standard Time. Reported Earnings • May 15
Full year 2025 earnings released: EPS: ₹94.31 (vs ₹93.68 in FY 2024) Full year 2025 results: EPS: ₹94.31 (up from ₹93.68 in FY 2024). Revenue: ₹41.2b (up 4.0% from FY 2024). Net income: ₹4.30b (flat on FY 2024). Profit margin: 10% (in line with FY 2024). Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 02
Akzo Nobel India Limited to Report Q4, 2025 Results on May 14, 2025 Akzo Nobel India Limited announced that they will report Q4, 2025 results on May 14, 2025 Announcement • Apr 25
JSW Paints Limited Reportedly Seeks to Acquire Akzo Nobel India JSW Paints Limited is competing with a consortium of Advent International, L.P. and Indigo Paints Limited (NSEI: INDIGOPNTS) to acquire Akzo Nobel India Limited (BSE:500710), the owner of Dulux Paints, from its Dutch parent Akzo Nobel NV (ENXTAM:AKZA), which is looking to exit India as part of a global restructuring, multiple people aware of the developments told ET. Both contenders submitted binding bids this week after the first deadline of April 15 was extended. The third contender, Pidilite Industries, which chiefly wants only Akzo’s decorative business, is also believed to be in the fray, but has not made an aggressive bid. Akzo Nobel NV, Europe’s largest paints company, holds a 74.76% stake in Akzo Nobel India. Since last October, the Amsterdam-based major has been working with its advisor to monetise its business as the $9 billion paints market in India has lately been witnessing unprecedented competition. The arrival of Aditya Birla Group, which owns the Birla Opus brand, has disrupted the established pricing norms in the paints industry, denting incumbents. Akzo plans a series of board meetings starting this week to evaluate the bids and take a final decision, said the people mentioned above. However, the bids are all at a 10% -15% discount to the current market price. The market value of Akzo India was INR 15,565.68 crore at Wednesday’s closing price of INR 3,418 per share. In February, Akzo India hived off and agreed to sell its powder coatings business its most profitable stream that contributes close to 12%-14% of sales to its Dutch parents . This has impacted the valuations of the residual business, which includes decorative and industrial paints. Moreover, the Akzo stock has risen 40.22% with the scrip touching its 52-week high of INR 4,649 per share in October in anticipation of the sale. That’s in contrast with the fortunes of its peers in India, like Shalimar or Indigo, which have seen one year returns crater 20-35%. Announcement • Feb 18
Warburg Pincus, Carlyle Reportedly Join Bidding War for AkzoNobel’s South Asia Business The race for Akzo Nobel N.V. (ENXTAM:AKZA)’s paint business has intensified with private equity (PE) majors joining the fray for not only the India unit but also for its South Asia portfolio. Warburg Pincus LLC, The Carlyle Group Inc. (NasdaqGS:CG), and CVC Capital Partners plc (ENXTAM:CVC) are among the many PE firms eyeing the entire South Asia portfolio of the paint-maker, sources close to the development told businessline. Meanwhile, for the India business, JSW Paints Limited (with TPG) and Pidilite Industries Limited (NSEI:PIDILITIND) are in the running, with Indigo Paints Limited (NSEI:INDIGOPNTS) also a possible contender. Asian Paints, Birla Opus, and Berger have opted out. “Some PE firms have been in touch for the purpose of strategic review and due diligence of the portfolio – the entire South Asia business including India. Some of them are looking at partners in India too, or they may go alone. Discussions are underway at the global level,” multiple sources said. Warburg Pincus and Carlyle are yet to respond to queries. All the three PE firms have previously been involved in multiple transactions with Akzo. Akzo Nobel India Limited (BSE:500710), did not respond to mailed queries from businessline. Announcement • Feb 11
Berger Paints Exits Race for Akzo India Pricey valuation for Akzo Nobel India Limited (BSE:500710) has prompted Kolkata-based Berger Paints India Limited (BSE:509480) —touted to be among the four suitors — to step aside from the race.“It’s very expensive,” Berger Paints India managing director and chief executive Abhijit Roy told ET in an interview.“We are not there in the picture as of now,” said Roy, adding: “We are doing a fairly good job on our own. I don't think there is any great need for this acquisition.”However, Berger would be interested if Akzo comes at a fairer price, he said. “We are interested, but only at a reasonable price…we have asked for certain clarifications and we are waiting for that". Akzo Nobel N.V. (ENXTAM:AKZA) holds a 74.76% stake in Akzo Nobel India. Price Target Changed • Feb 10
Price target decreased by 7.7% to ₹3,919 Down from ₹4,246, the current price target is an average from 2 analysts. New target price is 8.1% above last closing price of ₹3,626. Stock is up 30% over the past year. The company is forecast to post earnings per share of ₹94.65 for next year compared to ₹93.68 last year. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: ₹23.85 (vs ₹24.99 in 3Q 2024) Third quarter 2025 results: EPS: ₹23.85 (down from ₹24.99 in 3Q 2024). Revenue: ₹10.5b (up 1.7% from 3Q 2024). Net income: ₹1.09b (down 4.6% from 3Q 2024). Profit margin: 10% (in line with 3Q 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 26
Pidilite, JSW, Berger and Indigo Reportedly Submit Non-Binding Bids for Akzo Nobel India Pidilite Industries Limited (NSEI:PIDILITIND), JSW Paints Limited, Berger Paints India Limited (BSE:509480) and Indigo Paints Limited (NSEI:INDIGOPNTS) submitted non-binding bids for the acquisition of Akzo Nobel India Limited (BSE:500710), the owner of Dulux Paints, earlier this week, said people aware of the matter. The industry is looking to consolidate following the entry of Aditya Birla Group into the estimated $9 billion paints sector last year. All four aim to initiate management meetings with parent Akzo Nobel N.V. (ENXTAM:AKZA) at the company's Dutch headquarters starting next week. Akzo Nobel NV holds a 74.76% stake in Akzo Nobel India. In January, ANNV proposed a strategic evaluation of its powder coatings business and international research centre. This involved the sale of these assets to an indirect, wholly owned subsidiary of ANNV, Akzo Nobel India had said in a regulatory filing. It also included Akzo Nobel India potentially acquiring the decorative paints' intellectual property owned by ANNV. Subsequently, after the company mandated Citi to evaluate strategic options, ANNV decided to sell its Indian operations. The Indian unit of Akzo Nobel has a market capitalisation of INR 175,310 million. The stock has surged 47% in the last 12 months in anticipation of a sale. It ended at INR 3,849.70 on the BSE on Jan. 24, 2025. The sale of ANNV’s stake would translate to a deal size of about INR 131,070 million at the current market cap. An acquirer will also have to launch an open offer for an additional 26% of the company, making it the largest such takeover in the Indian paints industry.“It's a very richly valued company that is reading 22-23 times trailing 12 months ebitda,” said the CEO of one of the bidders. “But for many like JSW, Indigo or even Pidilite, which has taken baby steps in the space, thus far it's potentially a game changer.” Pidilite MD-designate Sudhanshu Vats said on an earnings call on Wednesday that the company will continue to look for “partnerships and acquisitions”.With regard to Akzo Nobel, he said, “We would not like to comment on any speculation. At this point in time, I have nothing to share on this. We continuously look at opportunities. This is an ongoing process. You've seen our track record over the last five to seven years. We've done some very successful partnerships and acquisitions. So, this is something which we keep doing.” JSW Paints MD Parth Jindal confirmed to ET his company's “serious interest” in pursuing the target. JSW is in talks with at least three private equity funds to explore a partnership. Indigo Paints MD Hemant Jalan said he “would not like to comment”. Indigo is said to be in talks with Bain Capital to form a consortium. Berger Paints and Akzo Nobel India didn’t comment. Announcement • Jan 13
Akzo Nobel India Limited to Report Q3, 2025 Results on Feb 07, 2025 Akzo Nobel India Limited announced that they will report Q3, 2025 results on Feb 07, 2025 New Risk • Dec 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 128% Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Announcement • Dec 18
The Race for Akzo Nobel Reportedly Tightens to Three Players The race for Akzo Nobel India Limited (BSE:500710) has narrowed to Pidilite Industries Limited (NSEI:PIDILITIND), JSW Paints Limited and Indigo Paints Limited (NSEI:INDIGOPNTS), two people close to the development said, with a deal likely to value the maker of Dulux paints at $2.1 billion-$2.5 billion. Earlier, one of the persons said, Aditya Birla Group flagship Grasim Industries Ltd. and Adani Group were approached for the deal, since some of their subsidiaries are engaged in construction and real estate that requires paints and coatings. But the talks remained inconclusive. Akzo Nobel NV, Europe's largest paint maker, has hired Citigroup to sell its 74.6% stake in the Indian unit. A third person said that both Indigo and JSW are in talks with PE investors including Warburg Pincus, TPG, Carlyle and CVC to make a bid. A TPG spokesperson declined to comment. Queries emailed to Akzo Nobel, Citigroup, Pidilite, JSW Paints and Indigo Paints, as well as the other PE firms remained unanswered. Announcement • Nov 22
Akzo Nobel India Limited Announces Resignation of Smriti Rekha Vijay as an Independent Director, Effective from 23 November 2024 Akzo Nobel India Limited announced resignation of Mrs. Smriti Rekha Vijay (DIN 03305041) as an Independent Director of the Company with effect from 23rd November 2024, on account of her ongoing health challenges. Upcoming Dividend • Nov 13
Upcoming dividend of ₹70.00 per share Eligible shareholders must have bought the stock before 20 November 2024. Payment date: 07 December 2024. Payout ratio is on the higher end at 99%, and the cash payout ratio is above 100%. Trailing yield: 2.0%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.7%). Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: ₹21.49 (vs ₹20.70 in 2Q 2024) Second quarter 2025 results: EPS: ₹21.49 (up from ₹20.70 in 2Q 2024). Revenue: ₹9.91b (up 3.7% from 2Q 2024). Net income: ₹979.0m (up 3.9% from 2Q 2024). Profit margin: 9.9% (in line with 2Q 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 07
Akzo Nobel India Limited Approves an Interim Dividend for the Financial Year 2024-2025, Payable on or After 29 November 2024 Akzo Nobel India Limited approved an Interim Dividend of INR 70/- per equity share for the financial year 2024-2025. This dividend shall be payable within 30 days from 7th November 2024. Record Date: Fixed 15th November 2024 as the Record Date for determining entitlement of members to the aforesaid interim dividend for the financial year 2024-25. The interim dividend will be paid on or after 29 November 2024 to those members entitled thereto after deduction of TDS, where applicable, at the prescribed rates. Board Change • Nov 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Smriti Vijay was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹4,402, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 127% over the past three years. Announcement • Oct 11
Akzo Nobel India Limited to Report Q2, 2025 Results on Nov 07, 2024 Akzo Nobel India Limited announced that they will report Q2, 2025 results on Nov 07, 2024 Price Target Changed • Aug 03
Price target increased by 13% to ₹2,951 Up from ₹2,601, the current price target is an average from 2 analysts. New target price is 5.4% below last closing price of ₹3,118. Stock is up 10% over the past year. The company is forecast to post earnings per share of ₹95.25 for next year compared to ₹93.68 last year. Upcoming Dividend • Jul 18
Upcoming dividend of ₹25.00 per share Eligible shareholders must have bought the stock before 25 July 2024. Payment date: 31 August 2024. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 2.6%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.7%). Announcement • Jul 11
Akzo Nobel India Limited to Report Q1, 2025 Results on Aug 01, 2024 Akzo Nobel India Limited announced that they will report Q1, 2025 results on Aug 01, 2024 Reported Earnings • Jul 08
Full year 2024 earnings released: EPS: ₹93.68 (vs ₹73.58 in FY 2023) Full year 2024 results: EPS: ₹93.68 (up from ₹73.58 in FY 2023). Revenue: ₹39.6b (up 4.2% from FY 2023). Net income: ₹4.27b (up 27% from FY 2023). Profit margin: 11% (up from 8.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
Full year 2024 earnings released: EPS: ₹93.68 (vs ₹73.58 in FY 2023) Full year 2024 results: EPS: ₹93.68 (up from ₹73.58 in FY 2023). Revenue: ₹40.0b (up 5.1% from FY 2023). Net income: ₹4.27b (up 27% from FY 2023). Profit margin: 11% (up from 8.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 09
Upcoming dividend of ₹50.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 16 February 2024. Payment date: 07 March 2024. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 3.1%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.8%). Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: ₹24.99 (vs ₹21.39 in 3Q 2023) Third quarter 2024 results: EPS: ₹24.99 (up from ₹21.39 in 3Q 2023). Revenue: ₹10.4b (up 5.5% from 3Q 2023). Net income: ₹1.14b (up 17% from 3Q 2023). Profit margin: 11% (up from 9.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 06
Akzo Nobel India Limited Recommends Interim Dividend for the Financial Year 2023-2024 Akzo Nobel India Limited at the board meeting held on February 6, 2024, recommended interim dividend of INR 50/- (Rupees Fifty only) per equity share for the financial year 2023-24. This dividend shall be payable within 30 days from February 6, 2024. Fixed February 16, 2024 as the Record Date for determining entitlement of members to interim dividend for the financial year 2023-24. A member, whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the close of business hours of 16th February 2024, shall be entitled for this dividend. Announcement • Jan 12
Akzo Nobel India Limited Approves Appointment of Rohit Ghanshyamdas Totla as Wholetime Director Akzo Nobel India Limited approved the appointment of Mr. Rohit Ghanshyamdas Totla as Wholetime Director of the Company with effect from 16 November 2023. The members have approved such appointment and remuneration of Mr. Rohit Ghanshyamdas Totla as a Wholetime Director of the Company, by requisite majority on 11 January 2024. Announcement • Nov 17
Akzo Nobel India Limited Announces Board Changes Akzo Nobel India Limited announced that taken note of/approved the resignation of Mr. Oscar Christian Maria Jozef Wezenbeek from the Directorship and consequently the Chairmanship of the Board of Directors of the Company, his resignation taking effect from 161h November 2023; and appointed/designated Mr. Rajiv Rajgopal, Managing Director, as the Chairman of the Board of Directors of the Company w.e.f. 16th November 2023 consequent upon resignation of Mr. Oscar Christian Maria Jozef Wezenbeek as aforesaid. His new designation will be as Chairman and Managing Director of Akzo Nobel India Limited. Price Target Changed • Nov 06
Price target decreased by 18% to ₹2,290 Down from ₹2,800, the current price target is provided by 1 analyst. New target price is 6.2% below last closing price of ₹2,440. Stock is up 16% over the past year. The company is forecast to post earnings per share of ₹99.90 for next year compared to ₹73.58 last year. Reported Earnings • Nov 03
Second quarter 2024 earnings released: EPS: ₹20.70 (vs ₹14.37 in 2Q 2023) Second quarter 2024 results: EPS: ₹20.70 (up from ₹14.37 in 2Q 2023). Revenue: ₹9.65b (up 4.2% from 2Q 2023). Net income: ₹942.0m (up 44% from 2Q 2023). Profit margin: 9.8% (up from 7.1% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Oct 14
Akzo Nobel India Limited to Report Q2, 2024 Results on Nov 02, 2023 Akzo Nobel India Limited announced that they will report Q2, 2024 results on Nov 02, 2023 Announcement • Aug 25
Akzo Nobel India Limited Announces Appointment of Rajiv L Jha as Company Secretary and Compliance Officer Akzo Nobel India Limited announced that the appointment of Mr. Rajiv L Jha as the Company Secretary and Compliance Officer of the Company w.e.f. 24 August 2023. A brief profile of Mr. Jha is given below: Mr. Rajiv L Jha, aged 48 years, is a Law Graduate (LLB.) from University of Delhi as well as a Fellow Member (FCS) of the Institute of Company Secretaries of India (ICSI) having Membership No. F5948, with around 21 years of extensive experience in the Legal, Regulatory, Compliance & Company Secretarial domains across industries and ranging from managing Legal Head/GC Function and Company Secretarial and Compliance functions. During the course of his career, he has worked with companies like Xerox, IFCI, etc. Upcoming Dividend • Jul 20
Upcoming dividend of ₹40.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 27 July 2023. Payment date: 02 September 2023. Payout ratio is on the higher end at 88%, however this is supported by cash flows. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.9%). Reported Earnings • Jul 12
Full year 2023 earnings released: EPS: ₹73.58 (vs ₹63.70 in FY 2022) Full year 2023 results: EPS: ₹73.58 (up from ₹63.70 in FY 2022). Revenue: ₹38.0b (up 21% from FY 2022). Net income: ₹3.35b (up 16% from FY 2022). Profit margin: 8.8% (down from 9.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.9% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 24
Full year 2023 earnings released: EPS: ₹73.58 (vs ₹63.70 in FY 2022) Full year 2023 results: EPS: ₹73.58 (up from ₹63.70 in FY 2022). Revenue: ₹38.3b (up 22% from FY 2022). Net income: ₹3.35b (up 16% from FY 2022). Profit margin: 8.8% (down from 9.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 09
Harshi Rastogi Steps Down as the Company Secretary and Compliance Officer, Effective 7 July 2023 Akzo Nobel India Limited advised that Ms. Harshi Rastogi will be stepping down as the Company Secretary and Compliance Officer of the Company with effect from closing hours of 7 July 2023 for pursuing an external opportunity. The Board has accepted her resignation and she will be relieved from the responsibilities with effect from closing hours of 7 July 2023. Upcoming Dividend • Feb 14
Upcoming dividend of ₹25.00 per share at 2.7% yield Eligible shareholders must have bought the stock before 21 February 2023. Payment date: 11 March 2023. Payout ratio is on the higher end at 87%, and the cash payout ratio is above 100%. Trailing yield: 2.7%. Within top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.8%). Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: ₹21.39 (vs ₹18.40 in 3Q 2022) Third quarter 2023 results: EPS: ₹21.39 (up from ₹18.40 in 3Q 2022). Revenue: ₹9.99b (up 9.3% from 3Q 2022). Net income: ₹974.0m (up 16% from 3Q 2022). Profit margin: 9.7% (in line with 3Q 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Akzo Nobel India Limited Recommends Interim Dividend for the Financial Year 2022-23 Akzo Nobel India Limited announced that at its Board of Directors meeting held on 9 February 2023, recommended interim dividend of INR 25/- (Rupees twenty five only) per equity share for the financial year 2022-23. This dividend shall be payable within 30 days from 9 February 2023. Fixed 21 February, 2023 as the Record Date for determining entitlement of members to interim dividend for the financial year 2022-23. A member, whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the close of business hours of 21 February, 2023, shall be entitled for this dividend. Announcement • Jan 11
Akzo Nobel India Limited to Report Q3, 2023 Results on Feb 09, 2023 Akzo Nobel India Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Price Target Changed • Nov 16
Price target increased to ₹2,800 Up from ₹2,050, the current price target is provided by 1 analyst. New target price is 22% above last closing price of ₹2,303. Stock is up 5.3% over the past year. The company posted earnings per share of ₹63.70 last year. Price Target Changed • Nov 07
Price target increased to ₹2,800 Up from ₹2,200, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ₹2,105. Stock is up 0.1% over the past year. The company posted earnings per share of ₹63.70 last year. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: ₹14.37 (vs ₹12.24 in 2Q 2022) Second quarter 2023 results: EPS: ₹14.37 (up from ₹12.24 in 2Q 2022). Revenue: ₹9.31b (up 26% from 2Q 2022). Net income: ₹654.0m (up 17% from 2Q 2022). Profit margin: 7.0% (down from 7.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 21
Upcoming dividend of ₹35.00 per share Eligible shareholders must have bought the stock before 28 July 2022. Payment date: 04 September 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.9%. Within top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (0.8%). Reported Earnings • Jul 10
Full year 2022 earnings released: EPS: ₹63.70 (vs ₹45.59 in FY 2021) Full year 2022 results: EPS: ₹63.70 (up from ₹45.59 in FY 2021). Revenue: ₹31.5b (up 30% from FY 2021). Net income: ₹2.90b (up 40% from FY 2021). Profit margin: 9.2% (up from 8.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.