Whalesbook
Q4 Mein Toofani Tezi, Saalgirath Mein Thodi Ghabrahat
Dekho, Berger Paints ne March 31, 2026 ko khatam hue Q4 mein kamaal kar diya. Company ka profit 27.52% badh kar ₹335.25 crore ho gaya, pichhle saal isi quarter mein yeh ₹262.91 crore tha. Revenue bhi 6.1% badh kar ₹2,868.03 crore pahunch gaya. Volume growth toh 11.8% tak tez ho gaya tha! Iska reason tha achha product mix aur raw material prices ka thoda kam hona. Is wajah se gross aur operating margins bhi 12 aur 10 quarter mein sabse zyada rahe. EBITDA bhi 12.6% badh kar ₹482 crore ho gaya. Lekin, jab poore FY26 ki baat aati hai, toh picture thodi alag hai. Net profit 4.6% gir kar ₹1,128.02 crore par aa gaya, pichhle saal yeh ₹1,182.81 crore tha. Revenue growth bhi 2.9% hokar ₹11,880 crore tak pahuncha.
Brand Kaise Bacha Rahi Hai?
Company keh rahi hai ki 'input costs' lagatar badh rahe hain, isliye March ke end se prices mein 11% se zyada ki hike karni pad rahi hai. Competition bhi kaafi hai, lekin naye player Birla Opus abhi sirf profitability par focus kar rahe hain, market share par zyada nahi, jo shayad Berger Paints jaisi companies ke liye achha ho sakta hai.
Industry Aur Competition Ka Scene
India ki doosri sabse badi paint company hone ke naate, Berger Paints ek growing market mein hai. Estimates ke mutabik, Indian paints market 2034 tak USD 11.9 billion tak pahunch jayegi. Sabse badi challenge raw material costs hain, jo geopolitics ki wajah se upar neeche hote rehte hain. Competition mein Asian Paints bhi hai, jinke results aane wale hain. Akzo Nobel India ka bhi Q4 FY25 profit thoda gira tha. Berger Paints ka market cap lagbhag ₹57,000 crore hai, aur P/E ratio 50x-57x hai, jo kuch investors ko high lag raha hai.
Analyst Kya Kehte Hain?
Analysts ki rai alag alag hai. Investec ne 'Sell' se 'Hold' par upgrade kiya hai aur target ₹525 diya hai. Dusre analysts ke targets ₹519 se ₹628 tak hain. Company ne ₹4 per share ka dividend bhi propose kiya hai. Abhijit Roy ko MD aur CEO wapas bana diya gaya hai, jisse management continuity rahegi.