Asian Paints shares rallied 39 percent during the quarter ended December 2020 and surged 53 percent in calendar year 2020.
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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Asian Paints registered a massive 62 percent year-on-year growth in consolidated profit at Rs 1,238.3 crore for the quarter ended December 2020, aided by strong volume growth amid festive season and operating performance. Profit in the corresponding period was at Rs 764.4 crore.
“Profitability across businesses has been well supported by good sales
mix and some excellent work in cost optimisation & sourcing measures pursued strongly through innovation programs,” said Amit Syngle, Managing Director & CEO.
Consolidated revenue from operations increased sharply by 25.2 percent to Rs 6,788.5 crore in Q3 FY21, compared with Rs 5,420.3 crore in the same period previous fiscal.
“Demand conditions continued to exhibit a strong recovery across business segments, spread over most regions in the third quarter of this financial year. The domestic Decorative business delivered a powerful performance with more than 30 percent volume growth led by a strong performance in premium and luxury portfolios,” said Amit Syngle.
He further said the Industrial coatings business delivered a robust performance, particularly in Protective coatings and Auto OE
businesses which rebounded in a big way, benefited by resurgence in the industrial activity.
“The International business recorded a double-digit volume growth, strongly led by good growth in Asia and the Middle East,” he added.
Quarterly earnings beat analysts’ expectations. Profit was expected at Rs 975 crore on revenue of Rs 6,150 crore, as per the average of estimates of analysts polled by CNBC-TV18.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) surged 50.3 percent year-on-year to Rs 1,787.9 crore and margin expanded by 430 bps YoY to 26.3 percent in the quarter ended December 2020, beating CNBC-TV18 poll estimates which were pegged at Rs 1,450 crore and 23.6 percent respectively.
Lower crude oil prices and cost savings helped the company report robust gross and operating margin expansion for the quarter ended December 2020.
Asian Paints along with its subsidiaries have operations in 15 countries across the world with 26 paint manufacturing facilities.
The stock rallied 39 percent during the quarter ended December 2020 and surged 53 percent in the calendar year 2020.
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