ICICI Direct: Berger Paints On Recovery Path Post Easing Of Lockdown Norms

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Berger Paint India Ltd.’s Q1 FY21 performance was largely marred by lockdown in the domestic and overseas business.Domestic business (approximately 87% of consolidated sales) recorded approximately 48% fall in topline mainly due to washout April 2020 sales.However, post easing of lockdown restrictions, Berger Paints saw approximately 90% sales recovery in May 2020 and reported double digit volume/value growth in June 2020 supported by pent up demand.Demand was largely driven by suburban and rural India where the impact of pandemic was limited. However, demand from metro regions remained impacted due to extended/intermediary lockdowns.On the subsidiary front, BJN Nepal was severely impacted by lockdown as it had only 10 working days in the quarter.However, Poland subsidiary Bolix SA exhibited an improved topline performance due to the nature of the business, which involves application of external insulation on building sites..Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage 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.

ICICI Direct: Berger Paints On Recovery Path Post Easing Of Lockdown Norms

Berger Paints saw 90% sales recovery in May and reported double digit volume/value growth in June, ICICI Direct says.

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