INSUBCONTINENT EXCLUSIVE:
ICICI Securities has maintained hold rating on Berger Paints India in the long term and revised target price to Rs 560 from Rs 480
Shares of Berger Paints ended down 2.4% at Rs 574.25 on Thursday while the BSE Sensex closed 163.37 points up (+0.40%) at 41,306.03.
Company
FinancialsFor the quarter ended 31-12-2019, the company has reported a Consolidated sales of Rs 1695.87 Crore, down -1.20 % from last
quarter Sales of Rs 1716.53 Crore and up 4.90 % from last year same quarter Sales of Rs 1616.70 Crore Company has reported net profit after
tax of Rs 185.88 Crore in latest quarter
Dhingra, Mr.Kuldip Singh Dhingra, Mr.Naresh Gujral, Mr.Pulak Chandan Prasad, Mrs.Rishma Kaur, Mrs.Sonu Bhasin
Company has S R Batliboi - Co
LLP as its auditors As on 31-12-2019, the company has a total of 971,219,780 shares outstanding
Investment RationaleThe brokerage expects Berger to report revenue and PAT CAGRs of 12.9% and 27.8% year-on-year respectively
RoE is expected to improve to 26.3% in FY22 from 21.4% in FY19, said ICICI Secyrities
At current valuations, the stock price upside is capped, said ICICI Securities.