Akzo Nobel Q4 Review - The ‘Show’ Has Well Begun In 2021: ICICI Securities
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ICICI Securities Report
Fundamentally speaking, Akzo Nobel India Ltd.’s last two quarter volume performance (growth of more than 45% in Q4, in our view) indicates that the turnaround is truly on track.
That said, bears are likely to point to 'relative underperformance, if any' on a low base.
As fundamental analysts, we remain structurally positive on the company.
- It has strengthened product portfolio via multiple differentiated launches in FY2021,
- expanded distribution network to 19,000 plus outlets and 14,000 tinting machines, and
- also focused on brand building initiatives such as Dulux Assurance.
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