BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Asian Paints Ltd.'s revenue and bottomline growth was ahead of our estimates but Ebitda margins came in lower than expected.
Volume growth of 106% YoY on a favourable base and pent up demand from metro and tier-I cities.
However, extended lockdown in southern states and higher Covid-19 cases in rural India had slowed growth.
Asian Paints' new products (in wood finishes, water proofing) are getting good demand tractions across regions. Robust growth in project and institutional sales.
Price hikes of ~3% to partially offset higher raw material prices. However, adverse mix and higher input costs dented gross margin.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
