Dolat Capital: Asian Paints - Continuous Improvement In Demand Exudes Confidence  
Paint color samples molded into car figurines stand on display. (Photographer Luke Macgregor/Bloomberg)

Dolat Capital: Asian Paints - Continuous Improvement In Demand Exudes Confidence  

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

Asian Paints Ltd.’s Q2 FY21 revenues, Ebitda and adjusted profit after tax came ahead of our estimate as the demand normalisation was fast compared to our expectation.

The company witnessed 11% volume growth during the quarter.

International business posted strong improvement as Africa, Middle East, Sri Lanka, Bangladesh posted double digit growths; Nepal remains laggard.

We believe that the volume growth in the decorative segment should remain high, especially in rural areas, given better crop production this season.

Considering month on month improvement in demand, we believe that the growth rate would improve going ahead.

Click on the attachment to read the full report:

Dolat Capital Asian Paints Q2FY21 Result Update.pdf

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