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Asian Paints: Margins take a knock in Q2 as cost pressures bite

The kitchen business of Asian Paints clocked revenues in excess of Rs 100 crore for the first time, and achieved operational breakeven despite the inflation headwinds

October 22, 2021 / 12:20 PM IST
Asian Paints: Margins take a knock in Q2 as cost pressures bite

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The Q2 FY22 earnings of Asian Paints has turned out to be a mixed bag. Though the company delivered a stellar volume growth in the domestic decorative business, margins hit a multi-quarter low as steep cost inflation led to a sharp contraction in operating margins. Key result highlights                       Quarterly revenues jumped 33 percent year on year (YoY) to Rs 7,096 crore, led by a 34 percent volume growth in the domestic decorative business. However, the EBITDA (earnings before interest,...

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