Asian Paints - Q2FY14 Result Review - Angel Broking

For 2QFY2014 Asian Paints posted a better than expected performance on the top-line, margins and bottom-line front. The company's consolidated top-line rose by 18.1% yoy to Rs. 3,084cr aided by a healthy double digit volume growth in the domestic decorative business. OPM rose by 174bp yoy to 15.6% due to better realization and decline in the prices of key raw material titanium dioxide on a yoy basis. Net profit rose by 36.7% yoy to Rs. 327cr aided by superior operating performance.

We maintain a neutral rating on the stock.

Source : Equity Bulls

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