Berger Paints India · Analyst questions, management answers, and the quality of the response where the ledger is available.
ConCallIQ research layer
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Questions audited
12
Answered directly
96%
Numeric claims
2
Consistency
contradicted
Question ledger
Miha · Namura
directOctober was negative. November did have a slight positive, December was better than that in mid-single digit type of a growth rate and that is where we are in January as well.
Miha · Namura
directIt remains very stable now. The main player remains at a stable point. Competitive intensity is not increasing, not decreasing. There is a slight gain but not like they were growing at 35-40, now it's 7-12% type of gain.
Miha · Namura
directDouble-digit volume growth should happen. If volume growth goes up to say 12-13%, then value growth should be in the range of 7-8%. That's realistic as of today.
Sukrit Patil · Isite Fin Private Limited
directBoth are important. We have been ramping up distribution network at a furious pace in the last 3-4 quarters. Product innovations also continue; we launched two or three products recently. Both will be done simultaneously.
Adita Bhartya · Research desk
directI was optimistic about 6-7% growth possibly going to 8-9% by Q4. It did pick up but not to the extent we would have loved. There was stock buildup due to elongated rains which got liquidated in Nov-Jan, so replenishment sale did not happen.
Adita Bhartya · Research desk
directWe won this battle in the court. The government had to refund. We got part of the money back, the other part we have applied for. As of now there is no anti-dumping duty on titanium dioxide.
Karthik Jalapa · Research desk
directMix change about 3-3.5% on account of low value high volume products. Direct price drops about 2-2.5%. Increased painter spends about 1.5 odd percentage. All put together this gap is explained.
Karthik Jalapa · Research desk
directThe growth of these categories is much higher, starting from a low base. The trajectory of growth is much higher and hence this is going to continue for the next possibly one to two years.
Karthik Jalapa · Research desk
directWe have lost a little bit of market share. Market leader also lost market, it has gone mostly to Bir. The competitor leader had a very low base in Q3 and Q4 last year, so they stand at an advantage of 9.5% starting.
TJ · Research desk
directThose type of competitors have been coming for long years. They are not very disruptive. All combined they may impact growth rate by 1-1.5%. The bigger impact is from that one player which is stabilizing.
TJ · Research desk
partialLogically it should result in 10% growth. But given the current context, we want to be conservative. It may so happen we actually grow at 10% next year, but we don't want to say that and then land up with 4-5%.
Rishi Modi · Research desk
directWe have plans for two factories in Panagar and Orissa, investment of about 1,800 to 2,000 cr. That will absorb a large part of free cash flow. No plans for buyback at this point.
