Asian paints share price: Sharekhan maintains Buy rating with price target of Rs 3000
Sharekhan says that Asian Paints registered strong volume led performance in Q4FY2021 with revenues growing by 44% to Rs 6651 cr and PAT growing by 81% to Rs 870 cr. Strong volume growth momentum was sustained in the decorative paints business for the third consecutive quarter. It stood at 48% in Q4 as against street expectations of 30-35%. Further, on a normalised basis it stood at 30%. This was mainly led by strong demand that sustained in tier 2/3/4 towns while strong resurgence was seen in the metros and tier-1 markets
Sharekhan explains that Revenue growth in the decorative paints business stood at 46% and the gap between volume and value reduced to 2% from 5-6% in earlier quarters: Reuters