Asian Paints second most valuable paints company in the world




has emerged as the second-most valuable paints company in the world. The company’s market capitalisation has soared 22 per cent to $43.7 billion at the end of December 31 from $35.6 billion a year ago. It now ranks 450th in the world in terms of m-cap. The company’s stock price ended 0.5 per cent higher on Friday at Rs 3,382 on the BSE.


For the quarter ended September, the company reported a consolidated net profit of Rs 605.2 crore, a 29 per cent decline over the same period in the previous year, on account of higher expenses and input costs. The company’s consolidated revenue from operations stood at Rs 7,096 crore, a 32 per cent jump over Rs 5,350 crore it made a year ago.





Analysts expect the Indian paint sector to drive outperformance in revenue growth led by penetration, market share gains and new categories. Gross margins and valuation multiples are also likely to sustain driven by pricing-power and fast growth opportunities.


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *