Paint maker Akzo Nobel India's Q4 Profit Rises

JSW Dulux

16/05/2024 12:26

May 15 (Reuters) - Paint maker Akzo Nobel India  AKZO.NS  reported a near 14% rise in its fourth-quarter
profit on Thursday, aided by higher sales of its decorative paints.
    The maker of Dulux paints reported a consolidated net profit of 1.09 billion rupees ($13.1 million) for the
quarter ended March 31.
    Revenue from operations rose 2% to 9.73 billion rupees.
    For further result highlights, click [Full story]
        
KEY CONTEXT
        Indian paint makers are facing a weak demand environment with consumers resorting to cheaper options, forcing
larger players to cut prices to sustain their sales. Akzo Nobel India also flagged moderation in its volumes, but
maintained better profit margin aided by favourable product mix across different categories. 
    Larger rival Asian Paints reported lower revenue in the March quarter and flagged lower demand in the premium
segment of products, while Berger Paints  BRGR.NS  reported a marginal increase in revenue. Kansai Nerolac  KANE.NS 
reported a 2% increase in revenue, while Indigo Paints  INDG.NS  is yet to report results.   

    
PEER COMPARISON
    
                                    Valuation (next 12    Estimates (next 12     Analysts' sentiment
                                          months)              months)         
                     RIC            PE     EV/EBITDA     Revenue     profit    Mean     # of     Stock to      Div
                                                         growth (%)  growth    rating   analyst  price target  yield
                                                                     (%)                s                      (%)
 Akzo Nobel India     AKZO.NS       26.38         16.50    12.56       0.89    HOLD           1      0.86         3.52
 Ltd                                                                                                           
 Asian Paints Ltd     ASPN.NS       50.01         34.15     7.53      -1.68    HOLD          35      0.96         1.18
 Kansai Nerolac       KANE.NS       28.79         18.25     8.77      30.23    HOLD          11      0.85         0.91
 Paints Ltd                                                                                                    
 Indigo Paints Ltd    INDG.NS       36.35         21.59    18.60      17.16    HOLD           6      0.84         0.26
 * Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above
the PT



JANUARY-MARCH STOCK PERFORMANCE
       
 
-- All data from LSEG
-- $1 = 83.4859  Indian rupees


    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
JANUARY-MARCH STOCK PERFORMANCE    https://tmsnrt.rs/3V5D3hS
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Reporting by Anisha Ajith in Bengaluru; Editing by Varun H K)
 ((anisha.ajith@thomsonreuters.com;))