Akzo Nobel India Q1 Review - Improving Trajectory; That's Important In A Turnaround: ICICI Securities

An employee adds blue pigment to a new batch of paint at the Akzo Nobel NV production facility. (Photographer: Jock Fistick/Bloomberg)

Akzo Nobel India Q1 Review - Improving Trajectory; That's Important In A Turnaround: ICICI Securities

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 Securities Report

Akzo Nobel India Ltd. has continued to report improving volume/revenue trajectory with every passing quarter which underlines the thesis that the turnaround is truly on track.

We believe lower flammable limit growth in Q1 FY22 was one of the highest among peers.

Our structural positive stance on Akzo Nobel is intact, as-

  1. it has strengthened product portfolio via multiple differentiated launches in past two years. It has introduced India’s first bio-based premium interior emulsion in August 2021,

  2. expanded distribution network to 19,000 plus outlets and 14,000 tinting machines and

  3. also focused on brand building initiatives such as Dulux Assurance.

Click on the attachment to read the full report:

ICICI Securities Alzo Nobel Q1FY22 Results Update.pdf

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