Dulux paint-maker Akzo Nobel India's Q3 profit climbs on strong demand

Berger Paints India

06/02/2024 08:53

BENGALURU, Feb 6 (Reuters) - Akzo Nobel India  AKZO.NS , which houses the Dulux paint brand,
reported a higher third-quarter profit on Tuesday, aided by strong demand for decorative paints.
    The company's consolidated net profit rose almost 17% year-on-year to 1.14 billion rupees ($13.7
million) in the quarter.
    For further earnings highlights, click  urn:newsml:reuters.com:*:nFWN3ER0H3
    
    KEY CONTEXT
    Indian paintmakers have benefited from growing real estate activity and easing prices of crude, a key
raw material that accounts for about a third of input costs.
    Kansai Nerolac  KANE.NS  and Asian Paints  ASPN.NS  have also reported strong third-quarter profits.
    
    PEER COMPARISON
                               Valuation (next  Estimates (next 12  Analysts' sentiment            
                                 12 months)          months)                                       
                    RIC        PE     EV/EBITD  Revenue    Profit   Mean    # of      Stock to     Div
                                      A         growth     growth   rating  analysts  price        yield
                                                (%)        (%)      *                 target**     (%)
 Akzo Nobel India    AKZO.NS   26.31     16.83    11.66     2.32    Hold           1     1.00         2.38
 Asian Paints        ASPN.NS   49.29     33.55    9.59      6.33    Hold          33     0.88         0.90
 Kansai Nerolac      KANE.NS   35.32     22.44    10.25     10.63   Hold          11     0.99         0.52
 Berger Paints       BRGR.NS   47.70     31.08    10.70     13.02   Sell          20     1.04         0.47
 * The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
 ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is
trading above the PT
    
    OCT-DEC STOCK PERFORMANCE
    
    -- All data from LSEG
    -- $1 = 83.0130 Indian rupees

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OCT-DEC STOCK PERFORMANCE    https://tmsnrt.rs/3w4bVWd
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 (Reporting by Varun Vyas in Bengaluru; Editing by Savio D'Souza)
 ((varunvyas.hebbalalu@thomsonreuters.com;))