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.
IDBI Capital Report
Asian Paints Ltd. reported above expected revenue while higher than expected input cost inflation lead to in-line profit after tax.
Overall both decorative and industrial coatings witnessed strong demand resiliency.
Pent-up demand during the month of April and June 2021 helped revenue/volume to stay higher than pre-Covid-19 levels.
Positively, recovery in tier I-II cities has been better than smaller cities.
Business recovery in international market continues to remain strong in Asia and Middle East while Africa business was impacted by rising inflation.
Positively, Asian Paints will push waterproofing products across international market to drive topline growth.
Input cost inflation continues to remain benign. Management don’t expect quick relief in short-term.
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