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Asian Paints
For 2QFY2012, Asian Paints (APL) posted a good performance on the top-line
front but a weak performance on the earnings front. The company’s top line grew
by 24.3% yoy to `2,251cr (`1,811cr), in-line with our estimates. Earnings declined
by 3% yoy to `209cr (`215cr), below our estimates. Operating profit dipped by
396bp yoy to `323cr (`331cr) due to high raw-material costs and other expenses
(up 55bp yoy). We maintain our Neutral view on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Asian Paints
For 2QFY2012, Asian Paints (APL) posted a good performance on the top-line
front but a weak performance on the earnings front. The company’s top line grew
by 24.3% yoy to `2,251cr (`1,811cr), in-line with our estimates. Earnings declined
by 3% yoy to `209cr (`215cr), below our estimates. Operating profit dipped by
396bp yoy to `323cr (`331cr) due to high raw-material costs and other expenses
(up 55bp yoy). We maintain our Neutral view on the stock.
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