AkzoNobel India Q3 profit falls to ₹74 crore despite near 6% volume growth

Paints maker AkzoNobel India Ltd on Monday (February 2) reported a 31.6% year-on-year decline in net profit for Q3 at ₹74.3 crore, down from ₹108.6 crore last year.

The company's revenue fell 13.6% to ₹907.7 crore from ₹1,050 crore, while EBITDA dropped 17.8% to ₹136.5 crore from ₹166 crore. Its EBITDA margin declined to 15% from 15.8% in the year-ago quarter.

Akzo Nobel India Ltd Joint Managing Director and CEO, Rajiv Rajgopal, said, “In Q3 FY2025-26, we delivered overall volume growth of 5.9%. Excluding exports, we registered volume growth of 6.6% and revenue growth of 1.8%, driven by the premium portfolio in both paints and coatings."

He added that in decorative paints, domestic volumes grew 8%, led by premium across geographies. He said, "Re-investing savings on decorative paints royalty into our business, we undertook focused initiatives including targeted pricing actions and strengthened engagement with painters and architects."

He stated, "Across our automotive & vehicle refinish, marine, protective and industrial coatings, we built new relations with marquee global brands and leading Indian corporates."

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The company also informed that JSW Paints completed its acquisition of 61.2% stake in Akzo Nobel India Limited on December 10 2025, becoming the new promoter and holding company.

CEO Rajgopal said, "Post the completion of acquisition by JSW, the focus now is to integrate into the new ways of working, and together, be #BetterEveryday. We will now increase investment in innovation, technology and digital tools as we accelerate our growth journey.”

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Akzo Nobel India Ltd shares closed at ₹2,844.80 on the NSE on February 2, up ₹120.10 or 4.41% for the day.