Akzo Nobel India - The ‘Show’ Begins In 2021: ICICI Securities 
Akzo Nobel paints on sale at Thiry Paints store in Brussels, Belgium. (Photographer:Paul O’Driscoll/Bloomberg News.) 

Akzo Nobel India - The ‘Show’ Begins In 2021: 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.'s revenue growth of 6.5% in Q3 FY21 was underwhelming.

That said, we reckon that decorative volume growth was more than 20% - a significant trajectory improvement.

It delivered highest-ever Ebit in Q3 and we forecast the trend to continue into CY20-22e.

In Q3 FY21, most customer segments except oil and gas and power reported healthy growth.

It has continued to roll out research and development backed products with the launch of Dulux Professional Weathershield Anti-Carb in Q3 FY21 which is expected to benefit with the uptick in infrastructure and capex.

Click on the attachment to read the full report:

ICICI Securities AKZO Q3FY21 Result Update.pdf


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