Berger Paints is the second largest paint player in India.
Berger derives ~80-85% of its topline from decorative paints while the rest comes from the industrial segment. It has ~13 manufacturing units in India with ~50,000 dealer network (FY22) across India
Strong b/s with RoCE, RoE of 26%, 22%, respectively, (five-year average)
Q3FY23 Results
New product launches and network expansion drives volume growth, usage of high cost inventory drags margin
Revenue increased by 5.6% YoY to ₹ 2693.6 crore in Q3FY23 driven by 6.6% volume growth in the decorative paints segment
Gross margin declined 198 bps YoY owing to adverse product mix and usage of high cost inventory. Increased employee expenses and lower gross margin dragged EBITDA margin down by 239 bps YoY to 13%
PAT down ~21% YoY to ₹ 201 crore tracking lower EBITDA margin and higher interest outgo
Furniture-Furnishing-Paints company Berger Paints (India) announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
Consolidated:
Revenue from Operations for the quarter ended 31st March, 2024 was Rs 2,520.3 crore as against Rs 2,443.6 crore in the corresponding quarter of the last financial year, representing an increase of 3.1% over the corresponding period of last financial year.
EBIDTA (excluding other income) in Q4FY24 was Rs 350.9 crore as against Rs 368.8 crore in the corresponding quarter of the last financial year, representing a decline of 4.8% over the corresponding period of last financial year.
Net Profit for Q4FY24 was Rs 222.6 crore as against Rs 186.0 crore in the corresponding quarter of the last financial year, representing an increase of 19.7% over the corresponding period of last financial year.
Standalone:
Revenue from Operations for Q4FY24 was Rs 2,249.1 crore as against Rs 2,189.3 crore in the corresponding quarter of the last financial year, representing an increase of 2.7% over the corresponding period of last financial year.
EBIDTA (excluding other income) for Q4FY24 was Rs 325.1 crore as against Rs 342.5 crore in the corresponding quarter of the last financial year, representing decline of 5.1% over the corresponding period of last financial year.
Net Profit for Q4FY24 was Rs 181.6 crore as against Rs 196.2 crore in the corresponding quarter of the last financial year, representing a decline of 7.5% over the corresponding period of last financial year
FY24 Financial Highlights:
Consolidated:
Revenue from Operations for FY24 was Rs 11,198.9 crore as against Rs 10,567.8 crore in the corresponding financial year, representing an increase of 6.0% over the corresponding period of last financial year.
EBIDTA (excluding other income) for the year ended 31st March 2024 was Rs 1,861.3 crore as against Rs 1,487.2 crore in the corresponding financial year, representing an increase of 25.2% over the corresponding period of last financial year.
Profit for FY24 was Rs 1,169.8 crore as against Rs 860.4 crore corresponding last financial year, representing an increase of 36.0% over the corresponding period of last financial year
Standalone:
Revenue from Operations for FY24 was Rs 10,002.9 crore as against Rs 9,470.6 crore in the corresponding financial year, representing an increase of 5.6% over the corresponding period of last financial year.
EBTDTA (excluding other income) for FY24 was Rs 1,671.7 crore as against Rs 1,345.9 crore in the corresponding last financial year, representing an increase of 24.2% over the corresponding period of last financial year.
Net Profit in FY24 was Rs 1,015.1 crore as against Rs 828.4 crore in the corresponding last financial year, representing an increase of 22.5% over the corresponding period of last financial year.
Abhijit Roy, Managilng Director & CEO of Berger Paints India said, "We gained market share again in FY24 and as a milestone crossed Rs 10,000 crore in revenue and PAT of Rs 1,000 crore on a stand-alone basis, a significant event on our 100th year in India.
Our Q4FY24 sales were at a healthy double digit volume growth. The value growth was adversely impacted by a massive 4% price reduction in the year, an increased contribution of high-volume low value products and a lower than expected sale in the luxury segment from the anticipation of a price reduction in this segment.
On the profitability front in Q4FY24, while the gross margins were maintained the ebidta reduced due to the one-off effect of subsidy received in Q4FY23, negative operating leverage on account of fixed cost on lower value base & the incremental operating cost of the new Sandi/a plant as well as the conscious call taken on brand building efforts leading to an inaeased advertisement expenditure.
On the whole the company did much better on an annual basis for FY24 delivering a stellar double digit improvement in profitability with all the business lines delivering well with strong double digit volume growths and improvements in profitability especially in the industrial segment. We continue to be focussed on the waterproofing & construction chemicals segment where we saw exceptional growth this year and expect this trend to continue in the years ahead. We remain confident of an improved demand scenario in the upcoming year and have prepared for the same with the launch of multiple innovative new products in the paint, coatings and waterproofing segments to ensure that we provide relevant solutions to the changing needs of our customers. "
Berger Paints Ltd is in the Paints/Varnish sector is having a market capitalization worth Rs. 76,824.58 crores, it was incorporated in the year 1923. It has reported consolidated sales of Rs. 1,798.49 crores in June’2021. The company is listed on the Bombay Stock Exchange (BSE) with the code 509480, and also listed on the National Stock Exchange (NSE) with the code BERGEPAINT.
Berger Paints Ltd was originally incorporated under the name of Hadfield (India) Ltd. Currently, Berger Paints is under the management of the Dhingra brothers, who hold the majority stake in the company. Berger Paints is that the second largest paint company in India. Berger Paints has a total of 16 manufacturing units around the country. Berger Paints also has four overseas manufacturing units located in Nepal, Poland, and Russia. Berger Paints has a widespread network of more than 25,000 dealers around the country. Berger Paints is also the first company to launch the Color Bank Tint system, wherein the customers get to choose from a range of over 5,000 colours and get the desired product within minutes. The promoters of the company own 74.98% of the stake in the company, Foreign Institutional Investors (FII) own 11.25%, Domestic Institutional Investors (DII) own 4.07% stake in the company, and others (such as public & retail investors) hold the balance of 9.70%.
In June 2021, quarterly net revenue was Rs. 1,619.21 crores, which has increased sharply by approximately 96.0 % from Rs. 826.14 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 135.09 crores, which has also improved sharply and increased by nearly 171.27% from a net profit of Rs. 49.8 crores in June 2020. In June 2021, the reported operating profit was at Rs. 1,341.0 crores, which is also increased by 90.85% as compared to an operating profit of Rs. 702.64 crores for the quarter ending in June 2020. From an EPS of Rs. 0.51 in June 2020, the EPS of Berger Paints Ltd has improved and reached Rs. 1.39 per share in June 2021. BERGEPAINT's stock closed at Rs. 790.95 on 24th August’2021 (NSE). Berger Paint has given a return of 9.13% in the last six months and returned 38.80% in the previous year.
Berger Paints Ltd is in the Paints/Varnish sector is having a market capitalization worth Rs. 76,824.58 crores, it was incorporated in the year 1923. It has reported consolidated sales of Rs. 1,798.49 crores in June’2021. The company is listed on the Bombay Stock Exchange (BSE) with the code 509480, and also listed on the National Stock Exchange (NSE) with the code BERGEPAINT.
Berger Paints Ltd was originally incorporated under the name of Hadfield (India) Ltd. Currently, Berger Paints is under the management of the Dhingra brothers, who hold the majority stake in the company. Berger Paints is that the second largest paint company in India. Berger Paints has a total of 16 manufacturing units around the country. Berger Paints also has four overseas manufacturing units located in Nepal, Poland, and Russia. Berger Paints has a widespread network of more than 25,000 dealers around the country. Berger Paints is also the first company to launch the Color Bank Tint system, wherein the customers get to choose from a range of over 5,000 colours and get the desired product within minutes. The promoters of the company own 74.98% of the stake in the company, Foreign Institutional Investors (FII) own 11.25%, Domestic Institutional Investors (DII) own 4.07% stake in the company, and others (such as public & retail investors) hold the balance of 9.70%.
In June 2021, quarterly net revenue was Rs. 1,619.21 crores, which has increased sharply by approximately 96.0 % from Rs. 826.14 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 135.09 crores, which has also improved sharply and increased by nearly 171.27% from a net profit of Rs. 49.8 crores in June 2020. In June 2021, the reported operating profit was at Rs. 1,341.0 crores, which is also increased by 90.85% as compared to an operating profit of Rs. 702.64 crores for the quarter ending in June 2020. From an EPS of Rs. 0.51 in June 2020, the EPS of Berger Paints Ltd has improved and reached Rs. 1.39 per share in June 2021. BERGEPAINT's stock closed at Rs. 790.95 on 24th August’2021 (NSE). Berger Paint has given a return of 9.13% in the last six months and returned 38.80% in the previous year.
Berger Paints India share price as on 30 Jun 2024 is Rs. 504.2. Over the past 6 months, the Berger Paints India share price has decreased by 13.75% and in the last one year, it has decreased by 10.83%. The 52-week low for Berger Paints India share price was Rs. 439 and 52-week high was Rs. 679.75.
You can buy Berger Paints India Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Berger Paints India Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Jun 28, 2024 03:59 PM the closing price of Berger Paints India Ltd was Rs.504.20.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 28, 2024 03:59 PM, the market cap of Berger Paints India Ltd stood at Rs. 58,779.43 Cr.