ADVERTISEMENT

Akzo Nobel India Q1 - Third Straight Quarter Of Market Share Gains In Decorative Paints: ICICI Securities

Akzo Nobel India Q1 Review - Third Straight Quarter Of Market Share Gains In Decorative Paints: ICICI Securities

<div class="paragraphs"><p>Dulux brand paints by Akzo Nobel India Ltd. (Source: Company website)</p></div>
Dulux brand paints by Akzo Nobel India Ltd. (Source: Company website)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Akzo Nobel India Ltd.’s revenue growth (49.7%) was higher than peers like Kansai Nerolac Paints Ltd. (46.2%) and Indigo Paints Ltd. (43.6%) and it has likely gained market shares in decorative paints for third consecutive quarter.

We remain structurally positive on Akzo as the fruits of the efforts in past three years are visible now. It has-

  1. reported strong growth in smaller towns and rural markets which was largely led by distribution expansion,

  2. its steady launches in luxury and premium decorative paints helped report strong growth in Q1 FY23 and

  3. new product like Dulux Smartchoice economy emulsion is performing well especially in smaller cities/ towns.

Click on the attachment to read the full report:

ICICI Securities Akzo Nobel India Q1FY23 Results Update.pdf

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.