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Buy Kansai Nerolac Paints Ltd For Target Rs. 388 - Geojit Financial Services Ltd Margin recovery a key positive... Kansai Nerolac Paints Ltd. (KNPL) is the market leader in industrial paints and the third largest decorative paint company in India. • During the quarter, the top line grew by 5.1% YoY, led by high single digit volume growth in the decorative paint business. • Gross margin improved by 537bps YoY to 64.7% owing to moderation in raw material prices. While EBITDA margin improved by 294bps YoY to 15.4% in Q1FY24. • Within the industrial...
Buy Kansai Nerolac Paints Ltd For Target Rs. 388 - Geojit Financial Services Ltd
Buy Kansai Nerolac Paints Ltd For Target Rs. 388 - Geojit Financial Services Ltd
Source: Geojit Financial Services
1/09/2023 3:23:54 PM
Add Kansai Nerolac Paints Ltd For Target Rs.360 - ICICI Securities Visible trajectory improvement under leadership of Anuj Jain; Upgrade to ADD Kansai has introduced multiple DCF-accretive initiatives under the leadership of Mr. Anuj Jain, MD such as (1) steady expansion of innovative product portfolio across sub-segments, (2) relaunched brand as ‘Nerolac Paint+ with Japanese technology’ supported by higher brand and R&D spends, (3) investments in projects, Next-gen painting services and influencer reach to connect with customers and gener...
Add Kansai Nerolac Paints Ltd For Target Rs.360 - ICICI Securities
Add Kansai Nerolac Paints Ltd For Target Rs.360 - ICICI Securities
Source: ICICI Securities
21/08/2023 12:35:23 PM
Reduce Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities Great execution prowess Indigo has been investing in strategy 2.0 (focus on 750 non-metro towns and higher investments in distribution and influencers) since Q1FY23. Benefits are visible now with >3x industry growth in Q1FY24 and likely market share gains across segments. We continue to model benefits of strategy 2.0 in FY23-25 and also believe (1) integration of Apple Chemie with Indigo’s supply chain and synergies in sourcing and distribution and (2) correction in commodity pric...
Reduce Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities
Reduce Indigo Paints Ltd For Target Rs.1,500 - ICICI Securities
Source: ICICI Securities
18/08/2023 12:04:30 PM
Buy Berger Paints Ltd For Target Rs.774 - Geojit Financial Services Steady revenue growth; margins expand Berger Paints India (Berger) is the second-largest paints company in the domestic market, with 16 strategically located manufacturing units and a countrywide distribution network of 25,000+ dealers. • The company’s consolidated revenue increased 9.8% YoY to Rs. 3,030cr, driven by robust volume growth and strong performance in the decorative business. • EBITDA margin expanded 370 bps YoY (+330 bps QoQ) to 18.4%, supported by lower ...
Buy Berger Paints Ltd For Target Rs.774 - Geojit Financial Services
Buy Berger Paints Ltd For Target Rs.774 - Geojit Financial Services
Source: Geojit Financial Services
17/08/2023 2:46:37 PM
Buy Asian Paints Ltd For Target Rs. 3,691- Geojit Financial Services Ltd Coloured by margins... Asian Paints Ltd. (APNT), is engaged in the business of manufacturing, selling and distribution of paints and related products for home décor. APNT is the market leader in the Indian paint manufacturing industry. • APNT maintained double digit volume growth of 10% YoY, aided by improving rural demand. While revenue grew by 6.7% YoY in Q1FY24. * EBITDA margin expanded by 502bps YoY to 23.1%, supported by a fall in raw material prices and efficient sourc...
Buy Asian Paints Ltd For Target Rs. 3,691- Geojit Financial Services Ltd
Buy Asian Paints Ltd For Target Rs. 3,691- Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
11/08/2023 2:48:11 PM
Buy Asian Paints Ltd For Target Rs.3,614 - Religare Broking Coloured by margins... Asian Paints Ltd. (APNT), is engaged in the business of manufacturing, selling and distribution of paints and related products for home décor. APNT is the market leader in the Indian paint manufacturing industry. * APNT maintained double digit volume growth of 10% YoY, aided by improving rural demand. While revenue grew by 6.7% YoY in Q1FY24. * EBITDA margin expanded by 502bps YoY to 23.1%, supported by a fall in raw material prices and efficient sourcin...
Buy Asian Paints Ltd For Target Rs.3,614 - Religare Broking
Buy Asian Paints Ltd For Target Rs.3,614 - Religare Broking
Source: Geojit Financial Services Ltd
9/08/2023 4:18:53 PM
Indigo Paints gains on reporting 58% rise in Q1 consolidated net profit Indigo Paints is currently trading at Rs. 1623.45, up by 24.45 points or 1.53% from its previous closing of Rs. 1599.00 on the BSE. The scrip opened at Rs. 1626.05 and has touched a high and low of Rs. 1700.00 and Rs. 1619.10 respectively. So far 24075 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1730.90 on 26-Aug-2022 and a 52 week low of Rs. 981.05 on 28-Mar-2023. Last one week high and low of the scrip st...
Indigo Paints gains on reporting 58% rise in Q1 consolidated net profit
Indigo Paints gains on reporting 58% rise in Q1 consolidated net profit
Source: Accord Fintech
8/08/2023 10:54:50 AM
Reduce Asian Paints Ltd For Target Rs.3,000- ICICI Securities Mix deterioration continues; Margin expansion in Q1FY24 is fleeting respite While Q1FY24 PAT growth of 48.9% YoY was higher than consensus estimates, the results were qualitatively weaker in our view as (1) In-spite of delay in monsoon and stronger Apr’23, the revenue growth was muted at 6.7% YoY, (2) volume growth was 330bps higher than revenue growth indicating mix deterioration and higher volumes of low value products such as putty and (3) B2B portfolio (Industrial paints and Proj...
Reduce Asian Paints Ltd For Target Rs.3,000- ICICI Securities
Reduce Asian Paints Ltd For Target Rs.3,000- ICICI Securities
Source: ICICI Securities
2/08/2023 12:06:07 PM
Buy Asian Paints Ltd For Target Rs. 3,959 - Centrum Broking APNT’s Q1FY24 print was mixed; consol. revenue/EBITDA/PAT grew 6.7%/36.3%/48.5%. APNT’s saw 4-year value/volume CAGR at 17.0%/17.5%. Despite strong painting season, unseasonal rains cut decorative volumes growth to 10%. Management alluded growth to, (1) double digit across urban/rural markets, (2) Q1 product mix led by economy & premium range, (3) uptick waterproofing/wood finishes range, (4) robust growth in project/ institutional business, and (5) distribution reach (160k). ...
Buy Asian Paints Ltd For Target Rs. 3,959 - Centrum Broking
Buy Asian Paints Ltd For Target Rs. 3,959 - Centrum Broking
Source: Centrum Broking Ltd
26/07/2023 2:56:46 PM
Buy Asian Paints Ltd For Target Rs.3,939 - Religare Broking * Double-digit volume growth in Decorative segment: Asian paints reported consolidated revenue of Rs 9,182.3cr, higher by 6.7% YoY and 4.5% QoQ led by double digit volume growth of 10% in decorative segment. Volume growth of 10% in Q1FY24 was on and above the double digit growth in Q1FY23 which was 37% while in Q4FY23 it was 16%. Further urban and rural both grew in double digit and demand is picking up in rural. * Significant improvement seen in margins as compared to YoY: Asian paints gr...
Buy Asian Paints Ltd For Target Rs.3,939 - Religare Broking
Buy Asian Paints Ltd For Target Rs.3,939 - Religare Broking
Source: Religare Broking
26/07/2023 1:00:13 PM
Last Mile Enterprises zooms on adding new business divisions Last Mile Enterprises is currently trading at Rs. 210.00, up by 9.90 points or 4.95% from its previous closing of Rs. 200.10 on the BSE. The scrip opened at Rs. 208.90 and has touched a high and low of Rs. 210.00 and Rs. 201.00 respectively. So far 2901 shares were traded on the counter. The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 210.10 on 15-Jun-2023 and a 52 week low of Rs. 38.65 on 13-Jul-2022. Last one week high and low of the scrip st...
Last Mile Enterprises zooms on adding new business divisions
Last Mile Enterprises zooms on adding new business divisions
Source: Accord Fintech
15/06/2023 2:18:49 PM
Hold Kansai Nerolac Paints Ltd For Target Rs.440 - ICICI Direct Demand recovery drives topline… About the stock: Kansai Nerolac (KNL) is a global leader in industrial coatings (auto). However, in the last 10 years, it has increased its decorative paint mix to ~55% of its topline. Currently, KNL is the third largest decorative paint player in India. * Strong distribution network of ~28,000 dealers across the country * In the last three years, KNL has increased its total paint manufacturing capacity from 5.47 lakh KL to 6.06 lakh KL at a cum...
Hold Kansai Nerolac Paints Ltd For Target Rs.440 - ICICI Direct
Hold Kansai Nerolac Paints Ltd For Target Rs.440 - ICICI Direct
Source: ICICI Direct
29/05/2023 1:15:23 PM
Kamdhenu Ventures gains on getting nod to make investment in Kamdhenu Colour and Coatings Kamdhenu Ventures is currently trading at Rs. 235.05, up by 1.70 points or 0.73% from its previous closing of Rs. 233.35 on the BSE. The scrip opened at Rs. 232.05 and has touched a high and low of Rs. 243.85 and Rs. 231.30 respectively. So far 13726 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 255.30 on 04-May-2023 and a 52 week low of Rs. 125.60 on 14-Feb-2023. Last one week high and low of the scrip stood ...
Kamdhenu Ventures gains on getting nod to make investment in Kamdhenu Colour and Coatings
Kamdhenu Ventures gains on getting nod to make investment in Kamdhenu Colour and Coatings
Source: Accord Fintech
19/05/2023 10:48:35 AM
Accumulate Kansai Nerolac Paints Ltd For Target Rs. 459 - Geojit Financial Services Ltd Gaining market share in the industrial paints... Kansai Nerolac Paints (KNPL) is the market leader in industrial paints and the third largest decorative paint company in India. * In Q4FY23, top-line grew by 13% YoY, led by * In Q4FY23, top-line grew by 13% YoY, led by healthy demand in the industrial paints and decorative segment. * Gross margin improved by 397bps YoY to 31.9% owing to price hike in industrial paints and benign raw material prices. EBITDA margin improved by 424bps...
Accumulate Kansai Nerolac Paints Ltd For Target Rs. 459 - Geojit Financial Services Ltd
Accumulate Kansai Nerolac Paints Ltd For Target Rs. 459 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
16/05/2023 11:54:09 AM
Buy Berger Paints India Ltd Target Rs. 766 - Religare Broking Mixed growth in revenue: Berger paints standalone revenue for Q4FY23 grew by 13.6% YoY with volume growth of 11.1% while its consolidated revenue grew by 11.7% YoY but saw a decline of 9.3% QoQ to Rs 2,443.6cr. The growth was driven by double digit growth in the decorative segment as well as healthy demand for construction chemicals and pick up in sales of industrial segments. For FY23, its standalone revenue grew by 22.3% YoY to Rs 9,470cr with strong volumes growth of 15.5% YoY and its cons...
Buy Berger Paints India Ltd Target Rs. 766 - Religare Broking
Buy Berger Paints India Ltd Target Rs. 766 - Religare Broking
Source: Religare Broking Ltd
16/05/2023 11:44:14 AM
Buy Asian Paints Ltd For Target Rs.3,614 - Religare Broking Steady revenue growth: Asian paints revenue for Q4FY23 grew by 11.3% YoY and 1.7% QoQ to Rs 8,787.3cr driven by double digit volume and value growth of both decorative and industrial segments. Further, its Home décor segment performance saw improvement with addition of new categories of fabrics, decorative lighting, UPVC doors and windows, while Kitchen and bath segments saw sluggish growth. For FY23, its consolidated revenue from sales grew by 18.8% YoY to Rs 34367.8cr while standalon...
Buy Asian Paints Ltd For Target Rs.3,614 - Religare Broking
Buy Asian Paints Ltd For Target Rs.3,614 - Religare Broking
Source: Religare Broking Ltd
13/05/2023 12:14:37 PM
Buy Kansai Nerolac Paints Ltd For Target Rs. 519 - Religare Broking Strong revenue growth YoY: Kansai’s revenue saw a decline of 5.1% QoQ while its YoY revenue grew by 12.8% YoY to Rs 1,733.6cr driven by strong growth and demand across both its Industrial as well as decorative paint segments. Decorative segment saw a mix of double digit value and volume growth while value growth was higher in the industrial segment as compared to volumes. For FY23, revenue grew healthy by 18.4% YoY to Rs 7,542.7cr. Margins saw healthy improvement YoY: The company&rsq...
Buy Kansai Nerolac Paints Ltd For Target Rs. 519 - Religare Broking
Buy Kansai Nerolac Paints Ltd For Target Rs. 519 - Religare Broking
Source: Religare Broking Ltd
13/05/2023 11:58:53 AM
Neutral Asian Paints Ltd For Target Rs.3,120 - Motilal Oswal Financial Services * Asian Paints (APNT) reported strong volume growth of ~16% in 4QFY23 (est. 6%) and ~14% in FY23. The management also indicated that all the segments, i.e., economy, premium and luxury, grew in double digits, with both urban and rural markets performing well. * Improvement in gross margin was led by a softening in raw material prices (deflated ~4% YoY), sourcing efficiencies and a decent product mix. With raw material prices being more or less stable, we expect gross margin to be at normat...
Neutral Asian Paints Ltd For Target Rs.3,120 - Motilal Oswal Financial Services
Neutral Asian Paints Ltd For Target Rs.3,120 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
12/05/2023 11:57:09 AM
Asian Paints moves up on reporting 44% rise in Q4 consolidated net profit Asian Paints is currently trading at Rs. 3156.50, up by 17.90 points or 0.57% from its previous closing of Rs. 3138.60 on the BSE. The scrip opened at Rs. 3139.00 and has touched a high and low of Rs. 3179.00 and Rs. 3088.00 respectively. So far 17198 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3590.00 on 28-Sep-2022 and a 52 week low of Rs. 2560.25 on 17-Jun-2022. Last one week high and low of the scrip sto...
Asian Paints moves up on reporting 44% rise in Q4 consolidated net profit
Asian Paints moves up on reporting 44% rise in Q4 consolidated net profit
Source: Accord Fintech
12/05/2023 10:30:26 AM
India's Asian paints posts 45% Q4 profit rise on strong demand, easing costs  Indian paint maker Asian Paints Ltd reported an over-45% rise in fourth-quarter profit on Thursday, aided by easing input costs and strong demand for decorative paints. The Mumbai-based company's consolidated net profit came in at 12.34 billion rupees ($150.9 million) for the quarter ended March 31, compared with 8.5 billion rupees a year earlier, which included a one-time expense of 1.16 billion rupees. ($1 = 81.7800 Indian rupees)
India's Asian paints posts 45% Q4 profit rise on strong demand, easing costs
India's Asian paints posts 45% Q4 profit rise on strong demand, easing costs
Source: Reuters
11/05/2023 2:19:13 PM
India`s Kansai Nerolac reports nearly 4-fold profit surge in Q4  Kansai Nerolac Paints Ltd reported a nearly four-fold surge in fourth-quarter profit on Monday, helped by an increase in demand for its decorative paints and a drop in some raw material costs. The paint maker's consolidated net profit in the quarter ended March 31 rose to 937.7 million rupees ($11.5 million), from 247.3 million rupees a year earlier. Revenue for the company, owned by Japan's Kansai Paint Co Ltd, rose nearly 13% in the quarter, while its cost of materials c...
India`s Kansai Nerolac reports nearly 4-fold profit surge in Q4
India`s Kansai Nerolac reports nearly 4-fold profit surge in Q4
Source: Reuters
9/05/2023 9:03:41 AM
Buy Berger Paints India Ltd Target Rs. 675 - Religare Broking * Within the paint space, Berger Paints has been among the top-performing names since 2003, maintaining a steady uptrend on long term charts. In the entire decade, it retraced towards the major moving averages on the weekly chart only twice and witnessed a strong directional trend thereafter. * It has been trading with a corrective bias for nearly two years, after making a new record high at 872.95 in July 2021 and retested the monthly support zone of 540 levels. * The last seven months...
Buy Berger Paints India Ltd Target Rs. 675 - Religare Broking
Buy Berger Paints India Ltd Target Rs. 675 - Religare Broking
Source: Religare Broking Ltd
29/04/2023 11:48:43 AM
Paint sector likely to register 10-12% revenue growth in FY24: Crisil Credit rating agency Crisil in its latest report has said that continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent revenue growth this fiscal (FY24) against an 18 per cent estimated rise in the just-concluded fiscal (FY23). Paint companies are likely to close FY23 with a robust 18 per cent revenue growth, primarily led by higher realisations on the back of a 6 per cent price hike during the year, along with the f...
Paint sector likely to register 10-12% revenue growth in FY24: Crisil
Paint sector likely to register 10-12% revenue growth in FY24: Crisil
Source: Accord Fintech
20/04/2023 11:53:17 AM
Sirca Paints India surges on inking distribution agreement with OIKOS SIRCA Paints India is currently trading at Rs. 648.35, up by 4.15 points or 0.64% from its previous closing of Rs. 644.20 on the BSE. The scrip opened at Rs. 649.90 and has touched a high and low of Rs. 658.50 and Rs. 646.00 respectively. So far 2316 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 800.00 on 14-Dec-2022 and a 52 week low of Rs. 598.85 on 15-Mar-2023. Last one week high and low of the scrip stood...
Sirca Paints India surges on inking distribution agreement with OIKOS
Sirca Paints India surges on inking distribution agreement with OIKOS
Source: Accord Fintech
3/04/2023 3:55:32 PM
Paint Sector update : Worm`s world view #50: Conversation with paint dealers in Chennai By ICICI Securities The dealer count has likely increased 2x in last 3-4 years in Chennai. While it has resulted in higher paint sales, it has impacted revenue/dealer - that's the insight from our conversation with the paint dealers in Chennai. They told us: (1) Most dealers are now trying to sell paints of only one company in order to achieve higher turnover-led trade schemes. As per dealers, market leader Asian Paints has benefitted most. (2) Nippon Paints has emerged stronger and is no.2 in Chennai. JSW i...
Paint Sector update : Worm`s world view #50: Conversation with paint dealers in Chennai By ICICI Securities
Paint Sector update : Worm`s world view #50: Conversation with paint dealers in Chennai By ICICI Securities
Source: ICICI Securities Ltd
21/03/2023 2:17:23 PM
Quote on Paint sector outlook By Antu Thomas, Geojit Financial Services. Below the revised quote on today`s surge in Paint stocks from Antu Thomas, Research analyst at Geojit Financial Services.   The green shoots in demand on account of a pick-up in real estate is adding colours to the sector. Brent crude is currently trading at a three-month low and the deflationary trend in other raw material prices will get reflected in margins in the coming quarters. Currently, the paint stocks are trading below their long-term valuation, which provides a barg...
Quote on Paint sector outlook By Antu Thomas, Geojit Financial Services.
Quote on Paint sector outlook By Antu Thomas, Geojit Financial Services.
Source: Geojit Financial Services Ltd
15/03/2023 5:32:13 PM
Hold Indigo Paints Ltd For Target Rs.1,975 - ICICI Securities Opening up newer growth avenues is pleasing ndigo's performance is best in class. Period. That said, in 3QFY22, it reported gross margin decline of 670bps YoY, lower adspends led to EBITDA growth of 22.8% YoY; only paint company to report growth. Transitory issues like prolonged monsoon, raw material inflation and slight impact of lockdown in Kerala have continued to impact performance. We like (1) it has introduced differentiated paint for bathroom and kitchen which helps to reduce od...
Hold Indigo Paints Ltd For Target Rs.1,975 - ICICI Securities
Hold Indigo Paints Ltd For Target Rs.1,975 - ICICI Securities
Source: ICICI Securities Ltd
2/03/2023 12:32:08 PM
Buy Kansai Nerolac For Target Rs. 560 - Anand Rathi Share and Stock Brokers Auto-paints shine but high-cost raw material stocks dim margins; Buy Kansai Nerolac’s posted a broadly in-line performance on adj Q3 FY23 figures (for exceptionals incl. in other income in Q2 FY22). Revenue growth was driven by auto paints; decorative paints slightly declined (volumes likely to be flat) hit by a prolonged monsoon and early Diwali. Margins was squeezed by high-cost stocks, expected to be exhausted gradually in another 1-2 quarters. Thus, dimming margin expectations. H...
Buy Kansai Nerolac For Target Rs. 560 - Anand Rathi Share and Stock Brokers
Buy Kansai Nerolac For Target Rs. 560 - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers Ltd
1/03/2023 12:00:24 PM
Berger Paints India trades higher despite reporting 20% fall in Q3 consolidated net profit Berger Paints India is currently trading at Rs. 551.10, up by 10.15 points or 1.88% from its previous closing of Rs. 540.95 on the BSE. The scrip opened at Rs. 530.00 and has touched a high and low of Rs. 557.75 and Rs. 527.60 respectively. So far 96522 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 745.60 on 03-Feb-2022 and a 52 week low of Rs. 534.55 on 27-Jan-2023. Last one week high and low of the scrip sto...
Berger Paints India trades higher despite reporting 20% fall in Q3 consolidated net profit
Berger Paints India trades higher despite reporting 20% fall in Q3 consolidated net profit
Source: Accord Fintech
3/02/2023 12:25:38 PM
Kansai Nerolac Paints surges on getting nod to sell land in Thane to Shoden Developers Kansai Nerolac Paints is currently trading at Rs. 416.80, up by 8.15 points or 1.99% from its previous closing of Rs. 408.65 on the BSE. The scrip opened at Rs. 420.00 and has touched a high and low of Rs. 422.25 and Rs. 406.65 respectively. So far 4865 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 576.80 on 31-Jan-2022 and a 52 week low of Rs. 358.05 on 22-Jun-2022. Last one week high and low of the scrip sto...
Kansai Nerolac Paints surges on getting nod to sell land in Thane to Shoden Developers
Kansai Nerolac Paints surges on getting nod to sell land in Thane to Shoden Developers
Source: Accord Fintech
31/01/2023 10:32:52 AM
Large Cap : Buy Asian Paints Ltd For Target Rs.3,115 - Geojit Financial Services Tepid quarter: Input prices to soften further... Asian Paints (APNT), is engaged in the business of manufacturing, selling and distribution of paints and related products for home décor. APNT is the market leader in the Indian paint manufacturing industry. * APNT’s Q3FY23 performance was impacted with flat volume/revenue growth due to extended monsoon and shorter Diwali season. * However, volume recorded double digit in December, the management expects the trend to susta...
Large Cap : Buy Asian Paints Ltd For Target Rs.3,115 - Geojit Financial Services
Large Cap : Buy Asian Paints Ltd For Target Rs.3,115 - Geojit Financial Services
Source: Geojit Financial Services
25/01/2023 12:20:22 PM
Neutral Asian Paints Ltd For Target Rs.3,090 - Motilal Oswal Financial Services Muted sales growth leads to earning miss * Asian Paints (APNT) reported flat volume YoY (est. 5% growth) and weakerthan-expected product mix in its 3QFY23 results. Consequently, EBITDA/ PBT/PAT missed our estimates by 10-11%. * Management indicated that after a weak Oct’22, partly caused by high base, demand recovered YoY in Nov’22 before reaching double-digit sales growth in Dec’22. Nevertheless, we expect near-term volume to be under pressure with EBITDA margin under...
Neutral Asian Paints Ltd For Target Rs.3,090 - Motilal Oswal Financial Services
Neutral Asian Paints Ltd For Target Rs.3,090 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
20/01/2023 9:57:59 AM
Hold Berger Paints India Ltd For Target Rs.670 - ICICI Direct High input cost weighs on margin… About the stock: Berger Paints is the second largest paint player in India. * Berger derives ~80-85% of its topline from decorative paints while the rest comes from the industrial segment. It has ~13 manufacturing units in India with ~50,000 dealer network (FY22) across India * Strong b/s with RoCE, RoE of 26%, 22%, respectively, (five-year average) Q2FY23 Results: Volume led topline growth, delay in price hikes dented margins. * Revenue...
Hold Berger Paints India Ltd For Target Rs.670 - ICICI Direct
Hold Berger Paints India Ltd For Target Rs.670 - ICICI Direct
Source: ICICI Direct Ltd
15/12/2022 2:36:28 PM
Reduce Berger Paints Ltd For Target Rs.545 - ICICI Securities In-line 2Q. Capex announcements may be interpreted as signaling statements Berger’s Q2FY23 results were in-line with peers. It's revenue growth of 20% compares with Asian Paints (19%), Kansai (19%), Akzo (25%) and Indigo (24%). While volume growth in Decoratives was 11% (we reckon it's tonnage growth, which is less meaningful), Berger says it has improved market share to 18.8% in H2FY23 from 18% in FY22. Though gross margins declined by 300bps to 35.3% in Q2FY23, we model it ...
Reduce Berger Paints Ltd For Target Rs.545 - ICICI Securities
Reduce Berger Paints Ltd For Target Rs.545 - ICICI Securities
Source: ICICI Securities Ltd
12/12/2022 9:46:32 AM
Buy Indigo Paints Ltd For Target Rs. 1,720 - Motilal Oswal Below our estimates, but better than peer trends resume While INDIGOPN’s 2QFY23 result was below our estimates it did not witness the huge mix deterioration reported by its peers. Consequently, the three-year sales CAGR stood at 23.6%, which is better than both APNT and KNPL, two of its Paint peers to have reported their results so far. While INDIGOPN posted much lower sales, the momentum seen in FY22 v/s its peers seems to be returning. The management indicated a continued sales ...
Buy Indigo Paints Ltd For Target Rs. 1,720 - Motilal Oswal
Buy Indigo Paints Ltd For Target Rs. 1,720 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
23/11/2022 4:02:38 PM
Berger Paints India Ltd : Mixed numbers; maintain Buy - Religare Broking Buy Berger Paints India Ltd For Target Rs.900 YoY Revenue grew strong: Berger paints reported strong revenue growth of Rs 2,671cr, up by 20% YoY largely driven by volume growth of 11% YoY and remaining via better realization and price hikes. Both its business segments i.e. decorative and industrial witnessed decent demand as compared to last year. However, comparing QoQ numbers, revenue de-grew by 3.2% as exterior paints demand remains muted due to the monsoon season. Margins dented by ...
Berger Paints India Ltd : Mixed numbers; maintain Buy - Religare Broking
Berger Paints India Ltd : Mixed numbers; maintain Buy - Religare Broking
Source: Religare Broking Ltd
13/11/2022 5:17:02 PM
Kansai Nerolac Paints Ltd : Auto-paints shine, margins to improve from Q4; maintaining a Buy - Anand Rathi Share and Stock Brokers Buy Kansai Nerolac Paints Ltd For Target Rs. 610 Kansai’s reported Q2 FY23 healthy 19% revenue growth was in line with leader Asian Paints’, driven by growth resurgence in auto-paints while decorative paint volumes were flat y/y. Early Diwali and the prolonged rains could mar Q3 demand but softening input costs are expected to provide some respite in margins from Q4. We have reduced our FY23e/24e EPS to reflect the weaker Q2, and introduce FY25e. The expansion to new ...
Kansai Nerolac Paints Ltd : Auto-paints shine, margins to improve from Q4; maintaining a Buy - Anand Rathi Share and Stock Brokers
Kansai Nerolac Paints Ltd : Auto-paints shine, margins to improve from Q4; maintaining a Buy - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers Ltd.
5/11/2022 11:52:39 AM
India`s Indigo Paints Q2 profit more than doubles India's Indigo Paints on Thursday reported a second-quarter profit that more than doubled, as price hikes helped offset increasing costs of raw materials. Net profit jumped 173.8% to 370.9 million Indian rupees ($4.47 million) for the three months ended Sept. 30, from 135.5 million rupees a year earlier, the Pune-based company said in an exchange filing. Larger rivals Asian Paints and Kansai Nerolac Paints have missed profit expectations for the latest reported quarter due to a long...
India`s Indigo Paints Q2 profit more than doubles
India`s Indigo Paints Q2 profit more than doubles
Source: Reuters
3/11/2022 4:38:28 PM
Buy Asian Paints Ltd For Target Rs. 3,952 - Religare Broking Muted QoQ performance; but long term growth prospects remains intact Strong YoY revenue while QoQ a miss: Asian paints posted revenue of Rs 8,457.6cr with growth of 19.2% YoY and volume growth of 10% YoY. Domestic decorative segment largest contributor to revenue drove the growth by posting 17.7% volume growth in Q2FY23. T3 & T4 cities are growing better than T1 & T2 which means rural is better placed in terms of demand as compared to urban. On the flip side, QoQ revenue de-gre...
Buy Asian Paints Ltd For Target Rs. 3,952 - Religare Broking
Buy Asian Paints Ltd For Target Rs. 3,952 - Religare Broking
Source: Religare Broking Ltd
21/10/2022 2:17:47 PM
Hold Asian Paints Ltd For Target Rs.3,200- ICICI Securities 2QFY23 results was a sideshow, in the context of material new pivot announcements. Asian Paints plans to invest in backward integration of white cements, VAM and VAE which is likely to improve gross margins by ~400bps as per company. We believe backward integration will likely be EVA accretive only if the savings improve overall EBITDA margin by 200bps (see table no.3). While we consider the backward integration to be a finite RoCE activity, most smaller / unorganised players will not be able...
Hold Asian Paints Ltd For Target Rs.3,200- ICICI Securities
Hold Asian Paints Ltd For Target Rs.3,200- ICICI Securities
Source: ICICI Securities Ltd
21/10/2022 1:33:32 PM
Asian Paints gains on entering into binding term sheet for setting up of joint venture in Fujairah Asian Paints is currently trading at Rs. 3156.40, up by 14.85 points or 0.47% from its previous closing of Rs. 3141.55 on the BSE. The scrip opened at Rs. 3136.30 and has touched a high and low of Rs. 3159.00 and Rs. 3118.20 respectively. So far 6541 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3590.00 on 28-Sep-2022 and a 52 week low of Rs. 2560.25 on 17-Jun-2022. Last one week high and low of the scrip stoo...
Asian Paints gains on entering into binding term sheet for setting up of joint venture in Fujairah
Asian Paints gains on entering into binding term sheet for setting up of joint venture in Fujairah
Source: Accord Fintech
21/10/2022 10:16:39 AM
Neutral Asian Paints Ltd For Target Rs.3,170 - Motilal Oswal Financial Services Healthy demand growth leads revenue beat, valuations expensive * The momentum witnessed in Feb-Mar’22 sustained in 1QFY23, leading to a 10-12% beat in sales/EBITDA/PAT v/s our expectations. * EBITDA margin was in line with our forecasts and as expected (highlighted in our channel check note) was supported by ongoing mix improvements, even as commodity cost pressures sustained at higher levels in 1QFY23. * The current valuations (~50.9x FY24E P/E) fully capture the upside o...
Neutral Asian Paints Ltd For Target Rs.3,170 - Motilal Oswal Financial Services
Neutral Asian Paints Ltd For Target Rs.3,170 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
6/09/2022 12:13:37 PM
Neutral Asian Paints Ltd For Target Rs.3,170 - Motilal Oswal Financial Services Healthy demand growth leads revenue beat, valuations expensive * The momentum witnessed in Feb-Mar’22 sustained in 1QFY23, leading to a 10-12% beat in sales/EBITDA/PAT v/s our expectations. * EBITDA margin was in line with our forecasts and as expected (highlighted in our channel check note) was supported by ongoing mix improvements, even as commodity cost pressures sustained at higher levels in 1QFY23. * The current valuations (~50.9x FY24E P/E) fully capture the upside over t...
Neutral Asian Paints Ltd For Target Rs.3,170 - Motilal Oswal Financial Services
Neutral Asian Paints Ltd For Target Rs.3,170 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
5/09/2022 9:10:11 AM
Neutral Asian Paints Ltd For Target Rs.2,840 - Motilal Oswal Financial Services Better mix to offset material cost pressures in the near term We spoke to a cross-section of APNT’s channel partners across Tier I/II/III cities. However, the sample size of our channel checks is limited and our findings may differ from broader demand trends. Some of the key highlights are as follows: * Demand is better in urban cities than smaller towns and rural areas, especially after the steep price increases. Slower sales growth in Putty and the continued premiumization trend...
Neutral Asian Paints Ltd For Target Rs.2,840 - Motilal Oswal Financial Services
Neutral Asian Paints Ltd For Target Rs.2,840 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
31/08/2022 9:27:58 AM
Buy Asian Paints Ltd For Target Rs. 3,707 - Centrum Broking  Powerful execution driving volume and profits   APNT’s Q1FY23 print was in?line with our estimates. Consolidated revenue/EBITDA/PAT grew 54.1%/70.3%/85.9% driven by robust volume growth of 37% in domestic decorative segment (4?year CAGR value and volume 20% each). The management alluded the&...
Buy Asian Paints Ltd For Target Rs. 3,707 - Centrum Broking
Buy Asian Paints Ltd For Target Rs. 3,707 - Centrum Broking
Source: Centrum Broking Ltd
26/08/2022 11:08:28 AM
Buy Kansai Nerolac For Target Rs.635 - Anand Rathi Share and Stock Brokers Softening input prices, better industrial demand; upgrading to a Buy Despite its strong performance, Kansai’s Q1 decorative paints’ volume growth was weaker, at 20%+, than Asian Paints’ ~35%. However, it indicated some market-share gains in industrial paints, even after forgoing some low-margin business. It has yet to fully pass on higher input costs in industrial and automotive paints, which would drive margin improvement in coming quarters. Further, its expansion to new...
Buy Kansai Nerolac For Target Rs.635 - Anand Rathi Share and Stock Brokers
Buy Kansai Nerolac For Target Rs.635 - Anand Rathi Share and Stock Brokers
Source: Anand Rathi Share and Stock Brokers Ltd
25/08/2022 2:01:37 PM
Sirca Paints India Q1 net profit zooms 428.05% at Rs 11.67 cr The company reported standalone net profit of Rs 11.67 crore for the quarter ended June 30, 2022 as compared to Rs 2.21 crore in the same period last year, registering a year-on-year growth of 428.05 per cent. Net revenue of the company rose substantially by 90.94 per cent at Rs 61.35 crore in April-June quarter of this fiscal as against Rs 32.13 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 57.18 per cent to Rs 45.99 crore from Rs 29....
Sirca Paints India Q1 net profit zooms 428.05% at Rs 11.67 cr
Sirca Paints India Q1 net profit zooms 428.05% at Rs 11.67 cr
Source: Dion Global Solutions Ltd
29/07/2022 9:25:08 AM
Large Cap : Buy Asian Paints Ltd For Target Rs.3,502 - Geojit Financial Services Coloured by volume... Asian paints (APNT), is engaged in the business of manufacturing, selling and distribution of paints and related product to home décor. APNT is the market leader in the Indian paint manufacturing industry. • Top-line growth of 54% YoY in Q1FY23, driven by robust volume growth of 37% YoY, was better than our estimate. • Product mix improved during Q1FY23 with higher sales of economy & luxury emulsion and premium water proofing & wood fini...
Large Cap : Buy Asian Paints Ltd For Target Rs.3,502 - Geojit Financial Services
Large Cap : Buy Asian Paints Ltd For Target Rs.3,502 - Geojit Financial Services
Source: Geojit Financial Services Ltd
28/07/2022 12:41:57 PM