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Geopolitical impact on commodity prices
View Risks →Berger Paints (I) Limited — Q2 FY24
Berger Paints reported a moderate Q2 FY24 with standalone revenue growth of 2.8% YoY to ₹2,439.84 crore, impacted by extended monsoons and delayed festive season.
bullish
high
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Berger Paints reported a moderate Q2 FY24 with standalone revenue growth of 2.8% YoY to ₹2,439.84 crore, impacted by extended monsoons and delayed festive season. However, volume growth remained strong at 10.9%, and EBITDA surged 26.7% with margin expansion of 310 bps to 16.5%, aided by lower raw material costs and favorable product mix. The company gained ~0.7-0.8% market share, reaching above 20%. Management expects decorative demand to improve in H2 on festive and rural recovery, with double-digit volume growth continuing. Key risks include geopolitical impact on commodity prices and muted demand in Kerala and Nepal.
बर्जर पेंट्स ने दूसरी तिमाही में 2.8% ज्यादा कमाई की, जो ₹2,439.84 करोड़ रही। लंबी बारिश और देर से आए त्योहारों के कारण यह बढ़ोतरी धीमी रही। लेकिन कंपनी ने 10.9% ज्यादा पेंट बेचा (वॉल्यूम ग्रोथ) और मुनाफा (EBITDA) 26.7% उछल गया। कच्चे माल की कम कीमत और अच्छे प्रोडक्ट मिक्स से मार्जिन 16.5% हो गया। बाजार हिस्सेदारी 20% से ऊपर पहुंच गई। कंपनी को उम्मीद है कि त्योहारों और गांवों की मांग से दूसरी छमाही में कारोबार और बेहतर होगा। खतरे: महंगा कच्चा माल और केरल-नेपाल में कम मांग।
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Volume Growth (Standalone)
10.9%
+10.9pp YoY
Volume growth in Q2 FY24 was 10.9% YoY, driven by strong performance in decorative and industrial segments.
Market Share
>20%
+0.7-0.8pp YoY
Market share estimated above 20% in H1 FY24, up from 19.3% at FY23 close.
Retail Touchpoints Added
2,000+
N/A
Added over 2,000 retail touchpoints in Q2 FY24, supporting distribution expansion.
ColorBank Machines Installed
1,700+
N/A
Installed over 1,700 ColorBank machines in Q2 FY24 to enhance tinting capabilities.
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Guidance and risk preview
Management maintains double-digit volume growth outlook for Q3, driven by festive season and rural demand recovery.
Management flagged that geopolitical tensions could increase raw material costs, impacting profitability.
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