Paint companies post healthy margins in Q1; How should investors play this?
Updated: 03 Aug 2022, 02:40 PM IST
TL;DR.For the quarter ending June, Kansai Nerolac reported a consolidated net profit of ₹152.05 crore, up 36.5% year on year. Similarly, Asian paints delivered strong numbers for Q1FY23 and beat analyst expectations. The company's revenue was up by 54.09 per cent to ₹8,606.94 crore.
Crude prices have come off sharply and are trading below $100 levels, which has supported the paint companies' margins in Q1.