Berger Paints’ Recovery Momentum Remains Strong In Q3: ICICI Securities  
A worker paints the baseboard of a home. (Photographer William Chambers/Bloomberg)

Berger Paints’ Recovery Momentum Remains Strong In Q3: 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

Pointers from Berger Paints India Ltd.’s Q3 FY21 -

1. The company’s nine months FY21 revenue decline is 4.2% which is in line with 9MFY21 revenue decline of 3% of Asian Paints Ltd. The company has likely gained market shares from smaller/unorganized players,

2. Reduction in trade schemes, revenue recovery and operating leverage resulted in Ebitda margin expansion of 212 basis points and

3. the revenue growth momentum from tier-II and III cities and villages remains intact and there is recovery in metros, projects business and industrial paints.

We also believe there will be savings in freight cost with commencement of Uttar Pradesh plant.

Click on the attachment to read the full report:

ICICI Securities Berger Paings Q3FY21 Results Update.pdf


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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.