A director at Berger Paints India Ltd sold 1,500 shares at 620.570INR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
BERGER PAINTS INDIA (IN), a company active in the Speciality Chemicals industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date June 8, 2021, the closing pr...
Indigo Paints (IP) is engaged in the business of manufacturing paints in India. It was the fifth largest company in the Indian decorative paint industry, in terms of revenue from operations in FY20 and was the fastest growing among the top five paint companies. Revenue from operations have grown at 41.9% CAGR over FY10-19 and 24.7% CAGR over FY18-20. Margins have been on an uptrend as well and hence, over FY18-20, gross profit grew at 36% CAGR, EBITDA at 87.8% and PATMI at 92.8%. The company ...
We hosted Berger Paints India Ltd. (BRGR) on a non-deal roadshow. Following are the key takeaways: Industry growth slows, yet outperforms FMCG peers: Management indicated that the Paint industry has been impacted by the economic slowdown and the growth rates seen over the past few quarters are lower by 5-6% compared to a normalised scenario/internal expectations a year back. However, the volume growth outperformance by paint companies compared to other consumption peers can be attributed to rel...
Q2FY20 result highlights Cons. revenue up 7.3% yoy to ~Rs15.99bn (est. Rs16.55bn), EBITDA grew 14% yoy to ~Rs2.51bn (est. Rs2.81bn), while PAT grew 67.4% yoy to ~Rs1.95bn (est. Rs2.05bn). Std. Revenue grew 7.5% yoy to ~Rs14.29bn, EBITDA grew 13% yoy to ~Rs2.19bn while PAT came in at ~Rs1.74bn, up 51.1% yoy. Decorative volumes increased by ~13% yoy (2yr/3yr CAGR at 14%/12%) while Automotive sales declined by 30% yoy. Cons. gross margins expanded 230 bps yoy (+20 bps qoq) to 41.0% (standalon...
We met Mr. Kuldip Singh Dhingra, the non-executive Chairman of Berger Paints India. Following are the key takeaways: Decorative paints industry will continue to outperform – Volume growth for the decorative paint industry has strong correlation with GDP growth. Despite the near term challenges (moderation in GDP growth, impact of erratic monsoons on exterior paints), management expects paint industry will continue to outperform consumer/building material industry on account of a) entry in newer...
Q1FY20 result highlights Consolidated net sales grew by 15.7% yoy to Rs17.2bn (est: Rs16.5bn), EBITDA grew by 27.5% yoy to Rs3.05bn (est: Rs2.62bn), PAT grew by 31.9% yoy to Rs1.8bn (est: Rs1.5bn). Adj. for IndAS 116, cons. EBITDA would have been Rs2.91bn much higher than the est. of Rs2.62bn but yoy growth no stated above is comparable as IndAS 116 has been given affect in base qtr as well. Standalone net sales grew by 15.5% yoy to Rs15.9bn, EBITDA grew by 25.6% yoy to Rs2.9bn, Adj PAT grew...
Q4FY19 result highlights Consolidated net sales grew by 13.4% yoy to Rs14.7bn (est: Rs14.7bn), EBITDA grew by 6% yoy to Rs2.1bn (est: Rs2.2bn), Reported PAT grew by 5% yoy to Rs1.1bn (est: Rs1.2bn). Standalone net sales grew by 13% yoy to Rs13.5bn, EBITDA grew by 7.4% yoy to Rs2.03bn, Adj PAT grew by 5% yoy to Rs1.15bn. The standalone revenue growth is indicative of double digit volume growth in decorative segment. Despite price hikes of ~6-7%, revenue growth is lower likely due to adverse ...
Q3FY19 result highlights Consolidated net sales increased by 21% yoy to Rs16.2bn (est: Rs15.7bn), EBITDA increased by 6% yoy to Rs2.4bn (est: Rs2.5bn), Reported PAT increased by 2.7% yoy to Rs1.3bn (est: Rs1.4bn). Standalone net sales increased by 21% yoy to Rs14.6bn, EBITDA increased by 6% yoy to Rs2.1bn, Reported PAT increased by 7.5% yoy to Rs1.2bn. The standalone revenue growth is indicative of double digit volume growth in decorative segment. Consolidated gross margins decreased by 42...
Q2FY19 result highlights Consolidated net sales increased by 16% yoy to Rs14.9bn (est: Rs14.7bn), EBITDA increased by 4% yoy to Rs2.1bn (est: Rs2.1bn), Reported PAT increased by 5.3% yoy to Rs1.17bn (est: Rs1.2bn). Standalone net sales increased by 15.6% yoy to Rs13.3bn, EBITDA increased by 0.8% yoy to Rs1.8bn, Reported PAT decreased by 3.3% yoy to Rs1bn. The standalone revenue growth was driven by ~15% volume growth. Consolidated gross margins decreased by 420bps yoy (standalone gross marg...
Q4FY18 result highlights Consolidated net sales increased by 17% yoy to Rs13bn, EBITDA increased by 24% yoy to Rs2bn, Reported PAT increased by 0.7% yoy to Rs1bn. Standalone net sales increased by 14.4% yoy to Rs11.9bn, EBITDA increased by 22% yoy to Rs1.9bn, Reported PAT increased by 50.8%. The growth was driven by 13-14% yoy volume growth in the decorative segment. Consolidated gross margins decreased by 90bps yoy (standalone gross margins decreased by 100bps yoy). Staff cost increased by...
Not much has changed over the past week when looking at the MSCI ACWI and S&P 500, with prices generally trending sideways and no material changes in our primary breadth indicators. Therefore, our outlook remains positive given breadth and price action improvements on both the ACWI and S&P 500 relative to mid-April (both developments that we highlighted in the 5/17/18 International Compass). • Major themes: Opportunities within Health Care and Materials. Price and relative strength trends con...
Q3FY18 result highlights Consolidated net sales increased by 14% yoy to Rs13.4bn(est:13bn), EBITDA increased by 21% yoy to Rs2.2bn(est:Rs2.2bn), Reported PAT increased by 19.5% yoy to Rs1.3bn. Standalone net sales increased by 13.6% yoy to Rs11.9bn, EBITDA increased by 23% yoy to Rs2bn, PAT increased by 19.7%. We estimate double digit volume growth in the decorative segment. Consolidated gross margins improved by 20bps yoy (standalone gross margins increased by 60bps yoy). Staff cost increa...
Q2FY18 result highlights Consolidated net sales increased by 11.8% yoy to Rs12.8bn(est:13bn), EBITDA increased by 11.4% yoy to Rs2bn(est:Rs2bn), PBT(before exceptional item) was up by 4% yoy to Rs1.7bn(est: Rs1.8bn). Reported PAT declined by 19.8% yoy to Rs1.1bn as the base quarter included one-time exceptional gain of Rs442m. Standalone net sales increased by 11.3% yoy to Rs11.4bn, EBITDA increased by 16.8% yoy to Rs1.82bn. Domestic sales growth of 11% was led by 9% volume growth in the dec...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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