Berger Paints share price NSE, Berger Paints Q3 results: Berger Paints shares advanced on Wednesday, February 7 after the paint manufacturer company impressed D-Street with its financial results for the October-December period (Q3 FY24). Berger Paints shares gained as much as 4.03 per cent to hit the day's high of Rs 578.25 on NSE in opening deals. The counter closed 0.14 per cent or Rs 0.8 lower at Rs 555 on NSE, extending the fall for the third straight day.

Berger Paints  Q3 results

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The Kolkata-based paint maker on Tuesday post market hours posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year.

Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a regulatory filing.
Earnings before interest, taxes, depreciation and amortisation (EBITDA), excluding other income, witnessed an increase of 37.3 per cent to Rs 480 crore during the period under review as compared to the corresponding quarter last year.

"The quarter witnessed strong growth on the volume front and robust increase in operating profits," Berger Paints MD & CEO Abhijit Roy said. The growth rates in tier 2 and tier 3 cities were higher than that of tier 1 cities, he said. The paint maker continued with its "aggressive growth" in the waterproofing and construction chemicals segment. Read more

Berger Paints share price target: Here's what brokerages make of Q3 nos.

HSBC has maintained a buy call on the paint stock although the global brokerage has cut the target price to Rs 650 from Rs 660. Following are the calls by other brokerages: 

  • Morgan Stanley maintains an underweight call with a target at Rs 471
  • Macquarie maintains an underperform call with a target at Rs Rs 520
  • Morgan Stanley maintains an underweight call with a target at Rs 471
  • Macquarie maintains an underperform call with a target at Rs 520
  • Nomura maintains an underperform call with a target at Rs 515

(with agency inputs)

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