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Neutral Asian Paints; target of Rs 3170: Motilal Oswal

Motilal Oswal recommended Neutral rating on Asian Paints with a target price of Rs 3170 in its research report dated July 26, 2022.

July 28, 2022 / 08:59 PM IST
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Motilal Oswal's research report on Asian Paints

The momentum witnessed in Feb-Mar’22 sustained in 1QFY23, leading to a 10-12% beat in sales/EBITDA/PAT v/s our expectations. EBITDA margin was in line with our forecasts and as expected (highlighted in our channel check note) was supported by ongoing mix improvements, even as commodity cost pressures sustained at higher levels in 1QFY23. The current valuations (~50.9x FY24E P/E) fully capture the upside over the next one-year. We maintain our Neutral rating.


We maintain our Neutral rating with a TP of INR3,170 per share (50x Jun’24E EPS).


For all recommendations report, click here

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Asian Paints - 270722 - moti

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first published: Jul 28, 2022 08:59 pm
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