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. reported stellar numbers with one of the best quarterly Ebitda margins in Q2 FY21.
The Ebitda margin at 23.6%, up approximately 470 basis points YoY led by benign raw material prices and savings in other expenditure in Q2 FY21.
On the revenue front, sales growth at approximately 6% YoY was led by double digit (our estimate approximately 10%) volume growth in Q2 FY21.
Despite being a lean season on account of monsoons, the strong decorative volume growth is attributable to significant pent up demand in rural and semi-urban regions led by repainting/maintenance activities.
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