Berger Paints Q4 Review - Volume Growth Momentum Continues: ICICI Direct
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 Direct Report
Berger Paints India Ltd.’s Q4 FY21 volume growth at 58% YoY (Q2:15%; Q3: 28%) is one of the best in the industry and much ahead of our expectation of 28%.
Apart from a favourable base, the decorative paints volume growth was largely driven by a pick-up in construction activity in Q4 and healthy growth in construction chemical (largely water proofing business).
On the other hand, a strong recovery in automotive sales helped a strong recovery in the performance of industrial paints (~15% of topline).
For FY21, overall volume growth came in at 15% despite a loss of sales in Q1.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.