Asian Paints Ltd. share price target

construction activities. The decorative paint segment constitutes around 74% of total paint sales, resulting in the paint sector growing at a robust...

EBITDA margin declined by 825bps YoY to 18.1% due to inflationary pressure on input prices. However, sequentially, margins improved by 534bps YoY led by price hikes. PAT declined by 18% YoY on account of weak operating margins which was partially offset by lower tax outgo. The company has taken a price hike of 18% to 22% on a YTD basis to mitigate the pressure on input cost. The company expects the overall impact on margins to be visible in Q4....

Asian Paints consolidated net sales increased 25.61% to Rs 8527.24 crore in Q3FY22 compared (accounting for 2.45% of total sales). Operating profit margin has declined from 26.34% to 18.09%, leading to 13.74% decline in operating profit to Rs 1,542.31 crore. Raw material cost...

Despite being in a capital intensive business, the company has maintained a strong balance sheet with RoCE, RoE of 31%, 27%, respectively Q3FY22 Results: The Q3 performance was ahead of our estimates on all fronts led...

We increase our FY22/FY23/FY24 EPS by 13.6%/7%/3.2% given 1) strong pentup demand 2) long runway for growth in Rurban India 3) bounce back in metro/Tier1/2 demand and 4) strong traction in project business. We believe long term structural levers remain intact led by 1) Market share gains in decorative paints from both organized & unorganized players 2) Increased...

We revise our rating to HOLD (BUY earlier) with a revised TP of Rs. 3,200 (Rs. 3,300 earlier) we continue to value the stock at 57x FY24E EPS.

Asian Paints (APNT) delivered volume growth ahead of our estimates (18% v/s expectation of 15%), while its sales growth was marginally lower. However, EBITDA, PBT, and PAT were below our estimates by 1215%, leading to a ~10% reduction in our FY22 EPS forecasts. Nevertheless, there is no material change in FY23E/FY24E EPS as demand continues to be healthy and margins would rebound on account of the sharp ~15% price hikes taken in 3QFY22. 4QFY22 is seeing some demand impact due to the Omicron wave; however, this is not too concerning as...

Inflationary pressure persists; price hikes on cards... Asian paints (APNT), is engaged in the business of manufacturing, selling and distribution of paints and related product to home dcor. APNT is the...

Even as we continue to value the stock at 57x FY24E EPS our TP undergoes a downward revision to Rs. 3,300/share (Rs 3,550/share earlier). Maintain BUY.