Akzo Nobel India Ltd Share Price – NSE /  BSE

Paints/Varnish, Small Cap

“As part of the GST audit, a show cause notice u/s 73 of CGST ACT/Rules, 2017 has been received by the company mentioning disallowance of ITC and tax due for the period from April 2020 to March 2021, aggregating to Rs 44,48,65,290.

The total liability of Rs 44.48 crore includes tax of Rs 23.94 crore; interest of Rs 15.75 crore; and penalty of Rs 4.78 crore.

The paint manufacturer said that this notice is open for further submissions before the relevant authorities, and it is in the process of responding to the same within the stipulated time as mentioned therein.

Akzo Nobel India is a leading paints and coatings company and maker of Dulux Paints. The company’s consolidated net profit rose 3.9% to Rs 97.90 crore on a 2.7% increase in net sales to Rs 982.30 crore in Q2 FY25 over Q2 FY24.

The scrip jumped 4.49% to Rs 3,767.85 on the BSE.

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Akzo Nobel India has fixed 20 November 2024 as record date for interim dividend of Rs 70 per share for FY 2025.

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Akzo Nobel India announced that the Board of Directors of the Company at its meeting held on 7 November 2024, inter alia, have recommended the interim dividend of Rs 70 per equity Share (i.e. 700%) , subject to the approval of the shareholders.

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Net profit of Akzo Nobel India rose 3.93% to Rs 97.90 crore in the quarter ended September 2024 as against Rs 94.20 crore during the previous quarter ended September 2023. Sales rose 2.72% to Rs 982.30 crore in the quarter ended September 2024 as against Rs 956.30 crore during the previous quarter ended September 2023.

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