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Margin worries, valuations weigh on Berger Paints amid strong Q4 show

The company's Q4 show, however, was better than market leader Asian Paints

Berger Paints
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What surprised the street, however, was the gross margin performance which saw a slight expansion as compared to the much sharper 260 basis points decline for Asian Paints

Ram Prasad Sahu Mumbai
Berger Paints’ performance for the March quarter (Q4) outperformed peers, such as Asian Paints and Kansai Nerolac. Revenue growth at just under 49.5 per cent over the year-ago quarter was higher than that registered by Asian Paints (43 per cent) and Kansai Nerolac (35 per cent). Yet, the stock has seen a decline after the results. While there are some concerns over the impact of the pandemic on rural sales, analyst recommendations indicate that the stock may underperform larger peer Asian Paints.

Analysts estimate Berger Paints’ volume growth to be upwards of 55 per cent, as compared to Asian Paints’ 48

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