Akzo Nobel India Q2 profit at Rs 1,682.8 cr due to exceptional gains, revenue at Rs 834.9 cr

New Delhi, Nov 6 (PTI) Paints and coatings maker Akzo Nobel India Ltd, in which JSW Paints is acquiring a majority stake, on Thursday reported a consolidated net profit of Rs 1,682.8 crore for the September quarter of FY'26, mainly helped by exceptional gains from sale of its Powder Coatings business division and the International Research Center division to AkzoNobel N.V.

The company, maker of Dulux paints, had posted a net profit of Rs 97.9 crore in the corresponding July-September quarter a year ago, according to a regulatory filing from Akzo Nobel India Ltd (ANIL).

During the quarter ended September 30, 2025, the holding company reported exceptional items amounting to Rs 1,874.2 crore, which included Rs 1,892.5 crore from sales of Powder Coatings business division and the International Research Center division.

However, it also had a provision of impairment of Rs 7.9 crore and Rs 10.4 crore on account of property and equipment, which were rendered unusable due to the slump sale and retention incentive for that.

Its revenue from operations was at Rs 834.9 crore in the September quarter of FY'26. It was at Rs 982.3 crore in the corresponding quarter on a year-to-year basis.

Hence, the consolidated financial results "for the quarter and half-year ended 30 September 2025 are not comparable with the corresponding previous periods due to slump sale of the Powder Coatings business division and the International Research Center division during the quarter," said Akzo Nobel.

Its total expenses were at Rs 744.8 crore in the second quarter of FY'26.

ANIL's total income, which includes its other income, was at Rs 842.6 crore.

Commenting on the results ANIL Chairman and Managing Director Rajiv Rajgopal said: "In Q2 FY2025-26, volume growth partially countered the impact of weather disruptions and competitive pressure on our topline. B2B vertical growth was led by industrial coatings and demand across mining, power and automotive sectors.” On October 14, 2025, JSW Paints, along with JTPM Metal Traders and JSW EduInfra, issued a Letter of Offer (LOF) for an open offer to acquire up to 26 per cent of ANIL's share capital.

In June, JSW Paints, part of Sajjan Jindal-led USD 23 billion JSW Group, had announced to acquire a 74.76 per cent stake from the Dutch promoters ANIL for a consideration of Rs 8,986 crore and announced an open offer of up to Rs 3,929.06 crore.

Share of Akzo Nobel India Ltd on Thursday settled at Rs 3,218.80 a scrip on BSE, down 0.68 per cent from the previous close. PTI KRH KRH MR