Berger Paints Q1 Review - Strong Performance Continues: Dolat Capital
Paint color samples molded into car figurines stand on display. (Photographer: Luke Macgregor/Bloomberg)

Berger Paints Q1 Review - Strong Performance Continues: Dolat Capital

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.

Dolat Capital Report

Berger Paints India Ltd.’s Q1 FY22 results came ahead of our estimates as the impact of lockdown was not as severe as we anticipated.

Revenue growth was in line with Asian Paints Ltd. (up 91%), but was lower than Kansai Nerolac Paints Ltd. (up 120%).

Indigo Paints Ltd. reported up 49% growth.

The company took cumulative price increase of ~5% in decorative and is contemplating further, particularly in industrial business.

Being the second-largest company in the domestic decorative paint industry, Berger Paints is likely to benefit further, due to-

  1. rising distribution reach,

  2. strong presence in urban markets,

  3. attractive product offering in all categories, and

  4. calibrated pricing.

Click on the attachment to read the full report:

Dolat Capital Berger Paints Q1FY22 Result Update.pdf


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