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.
Centrum Broking Report
As Asian Paints Ltd.’s Q2 FY21 print surpass our expectations; consolidated revenue/ Ebitda/ profit after tax grew 5.9%/32.5%/1.0% driven by robust volume growth at 11%.
Management stated strong recovery across segments and improving demand conditions in tier2/3/4 towns.
Gross margin expanded 165 basis points driven by benign input costs, healthy product mix and continued work on driving sourcing/ formulation efficiency.
Whilst Ebitda grew 32.5% reporting Ebitda margin at 23.6% (after 30 qtrs.).
We reckon return of normalcy in metros and festive season ahead coupled with rural thrust, could result in continued growth ahead.
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