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Asian Paints Vs Nerolac: Which is better?

Apr 12, 2013

Equitymaster compares Kansai Nerolac and Asian Paints, the two prominent companies of the Indian paint industry.

MD - Goodlass Nerolac on the budget

Feb 28, 2005

The impact of the budget announcements on the paint industry is neutral for the reasons given below:

Berger: Fails to enthuse

Nov 8, 2004

Berger Paints, the third largest paint manufacturer in the country, posted lacklustre results for the second quarter ended September 2004. While growth at the topline level is impressive, owing to higher rise in raw material related expenses, operating margins have declined noticeably in 2QFY05. Excluding the extraordinary adjustments, net profits have declined by 9% YoY.

Pidilite: Buoyancy tapered by 'crude' jolt

Nov 5, 2004

Adhesives and sealants major, Pidilite, reported a strong 18.5% topline growth during the September quarter. However, pressure on operating margins led to the company reporting only 10% bottomline growth. On a half yearly basis, the company reported nearly 17% topline and over 12% bottomline growth.

Goodlass: Outperformance continues

Nov 4, 2004

Goodlass Nerolac, the second largest players in the Indian paint market, has reported impressive numbers for 2QFY05. While revenue growth was slower, despite increased raw material cost related pressures, operating margins improved significantly in 2QFY05, which is commendable. The company's outperformance, with respect to sales growth and operating margins, has continued against Asian Paints.

Asian Paints: The shade brightens

Oct 28, 2004

Asian Paints, the market leader in the Indian paint sector, has posted mixed results for the second quarter ended September 2004. While the standalone topline growth was 8%, owing to a significant rise in raw material and packing material costs, operating margins declined in 2QFY05. On a consolidated basis, the international operations have been turned around impressively and consequently, there has been an upgradation to the earlier topline growth guidance. The company has declared an interim d

Identifying a paint stock: Do's and Don'ts

Apr 17, 2004

In Views on News, Equitymaster has tried to highlight here some factors one should keep in mind before investing in an Paints company. Know more

Asian Paints: Reasons for underperformance?

Mar 25, 2004

In contrary to what had been observed, Asian Paints has under performed both Goodlass Nerolac and Berger Paints on the stock market over the last one year.

Asian paints: It is topline that counts

Oct 31, 2003

India’s largest paint company, Asian Paints, has declared good results for 2QFY04. The company has reported a 13% increase in the bottomline while the topline has grown at a faster rate of 16% YoY. However, both operating and net profit margins during the quarter remained under pressure.

Goodlass Nerolac: Promising prospects

Sep 18, 2003

Goodlass Nerolac, which has a major presence in the industrial paints segment, has gained significant ground on the bourses in the last six months. The company has recently announced further investments for capacity expansion and advertising, mainly to capitalize on the expected higher demand growth in the decorative segment in the long term. Let us take a look at the business of the company and its prospects going forward.

Goodlass: The auto fillip

Aug 21, 2003

The first quarter performance of paint majors has been quite impressive. Led by sustained demand for housing and higher automotive sales, revenues and profitability has grown at a faster clip. Goodlass Nerolac, the second largest manufacturer of paints in the country, also posted a sharp rise in revenues. In this article, we look at the 1QFY04 performance of the company in brief and concentrate more on future growth prospects.

Asian Paints: Margin pressure

Jul 25, 2003

Asian Paints is ranked as the tenth largest decorative coatings company in the world. It is India's largest paint company and commands an estimated market share of 36% (FY03). The company has posted a 10% rise in revenues in the first quarter FY04. However, net profit growth was stagnant.

Berger: Underperforms peers

Jun 17, 2003

Berger Paints declared its full year performance for FY03 during the weekend. While revenues are higher by 11%, net profit has grown at a slower rate due to higher provisioning towards tax. The company has managed to improve its operating margins, despite input cost pressures. However, when Berger's results are compared with its peers like Asian Paints and Goodlass, they do not seem that impressive.

Goodlass: Back in colour

Jun 6, 2003

The sharp upturn in the automobile sector coupled with the robustness in housing sector has benefited paint companies significantly in FY03. Goodlass Nerolac, the second largest player in the Indian paint sector, has taken advantage of the same. The results of the same are reflected in the FY03 performance of the company. While revenues have increased by 11%, net profit has risen by 46%.

Asian Paints: 4QFY03 pressure

May 28, 2003

Asian Paints has posted a 20% rise in revenues and a 24% increase in net profit for the full year ended March 2003. While the nine months performance of the company at the operating level was impressive, FY03 numbers have been depressed by raw material cost related pressure in 4QFY03. Operating profit margins have suffered significantly during the quarter.

Asian Paints Vs…

Apr 21, 2003

If one were to pick the top player in the Indian paint sector (in terms of market share, product portfolio, distribution strength), the exercise is not a difficult one. Asian Paints scores high over its peers like Goodlass, Berger and ICI India. But how does Asian Paints compare with international players like Sherwin Williams of US and Kansai Paints of Japan (the promoter of Goodlass Nerolac in India). Here goes...

Paints: Raw material concerns

Mar 13, 2003

One of the key concerns facing the Indian economy is the sharp spurt in crude prices globally. As against US$ 26 range last year, the Brent crude is currently hovering at around US$ 33 levels, a 27% rise. With the US persisting for an attack on Iraq, oil prices have shown extreme volatility off late, which is not a good sign for India Inc. The impact on the paint sector in this context, will be pronounced if crude prices continue to remain firm for a long while.

Goodlass: FY04 and beyond

Dec 30, 2002

Goodlass Nerolac Limited is the second largest paint company in India. It is the market leader in the Original Equipment Manufacturer (OEM) segment, where it has a market share of more than 40%. Kansai Paints, the Japanese paint major, holds 64.5% stake in the company.

Berger: What in FY04?

Dec 18, 2002

Berger Paints is the third largest paint manufacturer in India with an overall market share of 13.0%. It is India’s second largest decorative paint manufacturer (11.1%) and also the third largest industrial paint manufacturer (13.9%). Over two-thirds of its turnover comes from decorative paints and balance from industrial paints. It benefits from a strong product mix, brand popularity and has a strong distribution network. The company acquired Snowcem India’s exterior paint division in FY02.

Asian Paints: Analyst meet notes

Nov 27, 2002

Asian Paints had an analyst meet yesterday to detail out the company’s international growth strategy. The growth strategy includes introducing new products and increasing market share. We would also like to focus on recent acquisitions by the company viz. Berger International, Singapore and SCIB (Egypt), in this article. While Asian Paints, on a standalone basis, has performed well in 1HFY03, the acquisition of Berger International and SCIB, Egypt has taken the company to a new league.


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