Review

AKZO NOBEL 

Ticker : 500710
FV: Rs10
52-Week H/L: Rs2152/1500 

We had recommended Akzo Nobel India Limited in volume 35 issue no. 52 (dated October 21, 2019), when the scrip was trading at Rs. 1,951.05. The company is engaged in manufacturing and marketing of paints, specialty chemicals, and adhesives. It owns two paint brands, namely, Dulux and Duco, and also operates in coatings. We previously recommended the scrip based on the company's stock, gaining for 4 days straight. Currently, it is trading at a PE of 15.79x. On a consolidated financial front, the company’s revenue showed a flat growth of 0.59 per cent to Rs. 719.69 crores in Q1FY20 as against Rs. 715.69 crores posted in Q1FY19. For Q1FY20, PBDT stood at Rs. 108.79 crores, up by 34.81 per cent from Rs. 80.70 crores in Q2FY19. The net profit grew substantially by 31.33 per cent in Q1FY20 to Rs. 57.14 crores, as compared to Rs 43.51 crores in Q1FY19. Post our recommendation, the stock price has increased by around 10.20 per cent. Thus, we suggest our investor-readers to BOOK PROFIT on October 31, 2019.