Review

AKZO NOBEL INDIA LTD.

Ticker : 500710
FV: Rs10
Target : Rs 2,510 /1,904

We recommended Akzo Nobel India in volume no. 37, issue no. 11 (dated January 04, 2021) when the scrip was trading at Rs 2,410.40. On the consolidated quarterly front, the company recorded a strong increase in net sales and operating income, which stood 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 loss of Rs 6.61 crore in Q1FY21 was flipped and Q1FY22 recorded an operating profit at Rs 100.27 crore. The company reported a net profit of Rs 75.91 crore in Q1FY22 as against the net loss of Rs 20.26 crore recorded in Q1FY21. The company delivered a robust performance in June 2021, as the country started unlocking. It continued to navi-gate profitability in a tough operating environment and delivered a double-digit return on sales. Hence, predicting a favourable growth potential of the company for the coming quarters, we recommend HOLD.