Akzo Nobel India Limited has announced its third-quarter financial results, showing a notable decline across key financial metrics compared to the corresponding period in the previous year. The paints and coatings manufacturer faced challenging market conditions that impacted its overall financial performance, with both profitability and operational efficiency declining during the quarter.

Comprehensive Financial Performance

The company's financial metrics for the third quarter demonstrate a significant year-on-year decline across all key parameters. Revenue, net profit, and EBITDA all witnessed substantial decreases, reflecting the challenging business environment.

Revenue and Profitability Analysis

Akzo Nobel India's revenue for the third quarter stood at ₹9.10 billion, representing a decline of ₹1.40 billion from the ₹10.50 billion recorded in the same quarter of the previous year. The company's net profit experienced a more pronounced decline, falling to ₹741 million from ₹1.08 billion in the corresponding quarter of the previous year, representing a 31.39% year-on-year decrease.

Operational Efficiency Metrics

The company's EBITDA performance also reflected the challenging operating environment, declining to ₹1.35 billion from ₹1.67 billion in the previous year, marking a 19.16% decrease. More significantly, the EBITDA margin contracted to 14.94% from 15.89% in the corresponding quarter of the previous year, indicating reduced operational efficiency and margin pressure.

Business Impact Assessment

The financial results indicate that Akzo Nobel India faced significant operational challenges during the third quarter, with deterioration across all key performance indicators. The steeper decline in profit compared to revenue, combined with margin compression, suggests the company encountered both volume and pricing pressures during this period. The company's performance reflects the broader market dynamics affecting the paints and coatings industry.

Akzo Nobel India announced significant leadership changes on Friday, appointing Parth Jindal as Chairman with immediate effect. The appointment comes following JSW Paints' strategic acquisition of the paints manufacturer last year.

Leadership Transition Details

The board of directors approved Jindal's appointment during their Friday meeting, though the decision remains subject to shareholders' approval. Jindal currently serves as Managing Director of both JSW Paints and JSW Cements, bringing extensive experience in the paints and building materials sectors to his new role.

Strategic Acquisition Background

The leadership change follows JSW Paints' acquisition of a majority stake in Akzo Nobel India in a deal valued at ₹12,915 crores last year. This acquisition established JSW Paints as the company's promoter, marking a significant consolidation in India's paints industry.

Additional Board Changes

The board approved several other key appointments and restructuring measures. Rajiv Rajgopal, currently serving as Chairman and Managing Director, will be re-designated as Joint Managing Director & Chief Executive Officer effective January 9, 2026. His existing terms and conditions, previously approved by shareholders, will remain unchanged.

The board also appointed Shantanu Maharaj Khosla as an independent additional director for a three-year term extending until January 8, 2029. This appointment is also subject to shareholder approval.

Corporate Governance Structure

These appointments reflect the integration process following the JSW Paints acquisition, establishing a new governance structure that combines leadership from both organizations. The changes position Akzo Nobel India for its next phase of growth under JSW's ownership while maintaining operational continuity through existing leadership.