Akzo Nobel Q4 Review  - The ‘Show’ Has Well Begun In 2021: ICICI Securities
Akzo Nobel paints on sale at Thiry Paints store in Brussels, Belgium. (Photographer:Paul O’Driscoll/Bloomberg News.) 

Akzo Nobel Q4 Review - The ‘Show’ Has Well Begun 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

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.

  1. It has strengthened product portfolio via multiple differentiated launches in FY2021,
  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 AKZO Nobel Q4FY21 Result Update.pdf

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