Buy Asian Paints; target of Rs 935: Religare

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26 Aug, 2025 12:21

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Religare's report on Asian PaintsAPNT posted a weak Q2 with 4%/16.7%/14.9% YoY growth in consolidated net sales/EBITDA/adj. PAT, even as domestic volume growth came in line at ~8-9%. EBITDA margins too disappointed (15.3% vs. RCMLe 16%) on an adverse product mix. While topline growth should recover to ~10% in H2 off a low base and festive sales, we pare our FY16-FY18 EPS to build in lower revenue growth this quarter. We restate BUY with a Sep’16 TP of Rs 935 (Rs 950 earlier) and recommend buying the stock on dips (Rs 800-825)Maintain BUY; Sep’16 TP Rs 935: While we pare our FY16/FY17/FY18 earnings by 5.8%/4.8%/3.7% to build in lower revenue growth, we expect demand to recover from H2FY16 onwards. Maintain BUY with a Sep’16 TP of Rs 935 (Rs 950 earlier), says Religare research report.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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