Dolat Capital: Berger Paints Posts Strong Q2 Performance But Valuations Look Rich
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Dolat Capital Report
Berger Paints India Ltd. ’s Q2 FY21 results came ahead of our estimates as the recovery was beyond anticipation.
Volume growth in the decorative business stood at 17% while overall volume growth was at 16%.
The company’s volume performance was better amongst peers. Benign raw material prices and cost reduction initiatives in procurement and formulation front helped margin expansion in Q2.
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