Berger Paints Q4 Results Review - Consistent Growth In Market Share: Dolat Capital

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Berger Paints India Ltd.’s Q4 FY24 revenues were inline, but profitability was a miss. Volume growth in domestic decorative business stood at 13.9% (versus plus 10% for Asian Paints Ltd.). On a four-year compound annual growth rate basis, volume/revenue grew by 15.4/15.1%. Ebitdam contracted by 120 bps to 13.9% due to negative operating leverage, incremental operating cost of Sandila plant, one-off subsidy received in base quarter and increased ad-spends. Going ahead, Ebitdam is expected to remain in 15-17% range. Berger continues to gain market share since past five years. Being the second-largest company in the domestic decorative industry, we believe the company is likely to benefit further from-rising distribution reach,strong presence in urban markets andattractive offerings across all categories.We have downward revised our FY25/26E EPS by 8.0/8.8% to Rs 10.7/12.0 to factor in Q4 performance and management guidance. Valuing the stock at 44 times FY26E EPS, we arrive at target price of Rs 528. Maintain ‘Reduce’ rating..Click on the attachment to read the full report:.Kansai Nerolac Q4 Results Review- Likely Market Share Gains In Economy Segments, Ancillaries: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Berger Paints Q4 Results Review - Consistent Growth In Market Share: Dolat Capital

Majority of the key subsidiaries delivered a strong performance

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Berger Paints Q4 Results Review - Consistent Growth In Market Share: Dolat Capital

Majority of the key subsidiaries delivered a strong performance

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