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Akzo Nobel commissions new powder coatings facility near Mumbai

February 20/2018

MOSCOW (MRC) -- Indias fourth largest paint company, Akzo Nobel India Limited commissioned its new powder coatings facility at Thane (near Mumbai, Maharashtra), as per Indiainfoline.

The company invested Rs65cr in the facility and the same was inaugurated by CEO Thierry Vanlancker. Akzo announced this to the stock exchanges on February 15, 2018.

The powder coatings facility in Thane is intended to boost Akzos access to markets in North and West India. It will complement the existing plant in Bengaluru (Karnataka) and will have additional lines in bond metallic powder and pipe and re-bar coatings.

A majority of the companys revenues comes from industrial coatings while the remainder is from decorative paints. Within decorative coatings, it has the famous Dulux brand. Within industrial coatings, it has marine coatings, powder coatings, metal coatings, vehicle refinish and specialty coatings in its product portfolio. The recent quarterly results (Q3FY18) clearly reflected pressure on operating margins of ANIL due to input cost inflation and volatile exchange rate. Future safeguarding of operating margins will require the company to take price hikes. Given the improving demand environment, we feel that this should not be very difficult. Economic revival and focus on housing segment will bring volume growth back to double digit levels in Q4FY18.

Akzo Nobel India Ltd is currently trading at Rs1,805, up by Rs1.75 or 0.1% from its previous closing of Rs1,803.25 on the BSE.
Author:Anna Larionova
Tags:Akzo Nobel Functional Chemicals B.V., Akzo Nobel Functional Chemicals BV.
Category:General News
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