Review

AKZO NOBEL INDIA LIMITED 

Ticker : 500710  
FV : Rs 10 
52-Week H/L : 2,510.00/1,904.00

We recommended Akzo Nobel India Limited in volume no. 37, issue no. 11 (dated January 04, 2021) when the scrip was trading at Rs 2,410.50. On the consolidated quarterly front, the company recorded a substantial increase in net sales and operating income, being at Rs 626.38 crore for Q1FY22 as compared to the net sales & operating income of Rs 258.50 crore reported for Q1FY21. The operating profit stood at Rs 100.27 crore in Q1FY22 as against the operating loss of Rs 6.61 crore posted in Q1FY21. The company reported a net profit of Rs 75.91 crore in Q1FY22, flipping the net loss of Rs 20.26 crore recorded in Q1FY21. The quarter kicked off with positive demand while the company continued to navigate profitability in a tough operating environment and delivered double-digit returns on sales. As India started unlocking, it witnessed a robust recovery in June 2021 quarter. Hence, we recommend HOLD.