Review

AKZO NOBEL INDIA LTD. 

Ticker : 500710
FV : Rs 10
52-Week H/L :  Rs 2,510.00/1,783.95

We had previously recommended Akzo Nobel India in volume 37, no. 11, dated January 04, 2021, when the scrip was trading at Rs 2,410.50 per share. It was recommended on the basis of predictions that the company may benefit from its demand growth. On the consolidated quarterly front, the company recorded net sales and operating income of Rs 781.35 crore for Q4FY21, recording a rise of 34.42 per cent from its net sales & operating income of Rs 581.27 crore reported for Q4FY20. The operating profit improved by 16.33 per cent to reach Rs 119.53 crore in Q4FY21 from Rs 102.75 crore posted in Q4FY20. The net profit was reported at Rs 74.25 crore in Q4FY21 from Rs 54.08 crore in Q4FY20, clocking gains of 37.3 per cent. The company already has a portfolio tilted towards luxury & premium paints and it is further planning to launch solution-based products within the same ambit as its existing ones. Hence, we recommend HOLD.