Asian Paints - Q2FY21 - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

On a consolidated basis for Q2FY21, Asian Paints revenue increased by 5.9% to ₹5350 cr against street expectation of 2.5% decline in revenue. On the back of improvement in operating margins by 480 bps to 23.5% led to increase in operating profit by 32.9% YoY. PAT registered a mere growth of 3.5% YoY as during the previous year tax expense reduced for Q2FY20 on account of new reduced tax rate. Company reported net profit of ₹852 cr which was way ahead of street expectation of ₹598 cr. Company reported strong numbers in times of covid by beating street expectation in all counts. We are bullish on Asian Paints on the back of improving demand scenario and given its strong distribution and supply chain.

Shares of ASIAN PAINTS LTD. was last trading in BSE at Rs.2100.25 as compared to the previous close of Rs. 2114.35. The total number of shares traded during the day was 66138 in over 5903 trades.

The stock hit an intraday high of Rs. 2114.95 and intraday low of 2078. The net turnover during the day was Rs. 138467400.

Source : Equity Bulls

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