AKZOINDIA

** Indian paint makers Asian Paints ASPN.NS, Berger Paints India BRGR.NS, Akzo Nobel India AKZO.NS and Kansai Nerolac KANE.NS climb between 1% and 2%

** Brent crude futures LCOc1 fell to their lowest since December 2021 in previous session before steadying on Thursday, still trading near multi-year low levels O/R

** Fall in oil prices benefits paint makers, who count crude as a major raw material

** Both ASPN and KANE gain ~2%, while BRGR and AKZO climb 1.3% and 1.2%, respectively

** AKZO only major paint maker rated "buy" on avg, rest rated "hold" - data compiled by LSEG

** KANE's 12% YTD drop biggest, followed by AKZO's 11% slide and ASPN's 4% decline

** BRGR only major paint maker to log YTD gains, up 9.3%

(Reporting by Kashish Tandon in Bengaluru)

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March 3 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS TOTAL TAX DEMAND ORDER FOR 15.8 MILLION RUPEES

Source text: ID:nBSE4NnMSC

Further company coverage: AKZO.NS

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Feb 24 (Reuters) - Akzo Nobel NV AKZO.AS:

• TO SEPARATE POWDER COATINGS BUSINESS FROM ITS INDIAN SUBSIDIARY

• MADE OFFER TO ACQUIRE POWDER COATINGS OPERATIONS, INTERNATIONAL RESEARCH CENTER FROM AKZO NOBEL INDIA LIMITED

• AKZONOBEL INDIA WILL SEEK ITS SHAREHOLDERS' APPROVAL IN COMING WEEKS, WITH VOTING PROCESS EXPECTED TO CONCLUDE ONE MONTH LATER

• BOARD OF DIRECTORS OF AKZONOBEL INDIA HAS ACCEPTED AKZONOBEL'S OFFER

Further company coverage: AKZO.AS

(Gdansk Newsroom)

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Rewrites with management commentary from post-earnings call

By Hritam Mukherjee

Feb 7 (Reuters) - Akzo Nobel India AKZO.NS said on Friday it expects the demand for paints to recover from the second half of the year after the effects of the federal budget's consumption-boosting proposals filter through essential items before influencing discretionary purchases.

Last week, the government dished out its biggest income tax relief in at least a decade, hoping that higher disposable incomes would boost demand and consumption, thereby lifting the economy.

However, the effects of that on the demand for discretionary items such as paints will only start from the second half of this year, Akzo Nobel Chairman and Managing Director Rajiv Rajgopal said in a post-earnings call.

Earlier in the day, the 'Dulux' paintmaker reported a 5% fall in consolidated third-quarter net profit to 1.09 billion rupees ($12.47 million) as its 2% increase in its revenue was outweighed by a 2.3% rise in expenses.

Paintmakers saw weak demand from retail consumers who are choosing cheaper brands in the face of high inflation, analysts say and demand forecasts by paint companies have been mixed so far.

While market leader Asian Paints ASPN.NS missed earnings estimates and issued a grim demand outlook, Kansai Nerolac KANE.NS said it also expects the lower income tax rates to increase demand.

Akzo Nobel India's larger peers, Grasim Industries GRAS.NS and Berger Paints BRGR.NS, are due to report their results next week.

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

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Updates with earnings details, analyst comment in paragraph 3, and background

Feb 4 (Reuters) - India's Asian Paints ASPN.NS missed third-quarter profit estimates on Tuesday, though stronger-than-expected volume growth in its core domestic decorative business lifted its shares by 5%.

The paintmaker's consolidated net profit during October-December slumped 23% to 11.11 billion rupees ($127.6 million) year-on-year, slightly below analysts' average estimate of 11.31 billion rupees, as per data compiled by LSEG.

The 1.6% volume growth in the decorative business was higher than our expectations of a 1% this quarter, said Antu Thomas, a research analyst at brokerage Geojit Financial Services.

Asian Paints, India's largest paintmaker by market share, was among the top percentage gainers in the benchmark Nifty 50 .NSEI.

Shares of the company jumped 5% following the results but pared early gains, trading up 2.5% at 2,352 rupees.

Revenue from operations dropped 6% to 85.49 billion rupees, and came in below market expectations of 89.19 billion rupees.

Asian Paints is the first among its peers to report quarterly results. Kansai Nerolac KANE.NS and Akzo Nobel India AKZO.NS are slated to report their earnings later this week.

Over the last few quarters, Asian Paints has been grappling with increased competition following Grasim Industries' GRAS.NS entry in the sector, while inflation-strained shoppers tightened their purse strings and opted for cheaper private labels.

($1 = 87.0550 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sherry Jacob-Phillips)

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Jan 10 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS GST ORDER WITH TOTAL LIABILITY OF 2.4 MILLION RUPEES

Further company coverage: AKZO.NS

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Jan 7 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS GST ORDER WITH TAX AND PENALTY OF 2.4 MILLION RUPEES

Source text: ID:nBSE68XTNJ

Further company coverage: AKZO.NS

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Jan 6 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• AKZO NOBEL NV REQUESTS EXPLORATION OF POWDER COATINGS BUSINESS SALE

• AKZO NOBEL NV REQUESTS EXPLORATION OF DECORATIVE PAINTS IP ACQUISITION

• BOARD AUTHORIZES MANAGEMENT TO EXPLORE POTENTIAL TRANSACTIONS

Source text: ID:nBSE4SQlNQ

Further company coverage: AKZO.NS

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** Akzo Nobel India AKZO.NS gains as much as 8.6% to 3768 rupees

** Pidilite Industries PIDI.NS, JSW Paints and Indigo Paints INDG.NS in race for stake in Amsterdam-based Akzo Nobel's AKZO.AS Indian arm, Mint reports

** Deal to sell 74.6% stake values Indian arm at $2.1 bln-$2.5 bln, report adds

** Stock sees biggest pct gain since Oct. 31, day after Mint reported AKZO is looking to sell its Indian unit

** More than 137,000 shares traded, 6.5x the 30-day avg

** AKZO India last up 7.5%, extends YTD gains to ~43%

($1 = 84.9220 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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Nov 27 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS SHOW CAUSE NOTICE OF TAX DUE OF 19.2 MILLION RUPEES

Source text: ID:nBSEKyRJ1

Further company coverage: AKZO.NS

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Nov 26 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• AKZO NOBEL INDIA - GETS SHOW CAUSE NOTICE OVER TAX DEMAND OF 19.2 MILLION RUPEES

Source text: [ID:]

Further company coverage: AKZO.NS

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Nov 22 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• APPROVED SALE CO'S IMMOVABLE PROPERTIES NOT BEING PUT FOR PRODUCTIVE USE

Source text: ID:nBSE9Bkkrs

Further company coverage: AKZO.NS

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Oct 30 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• AKZO NOBEL INDIA LTD - GETS TAX ORDER FOR DEMAND AT 377.2 MILLION RUPEES

Source text: ID:nBSE79K8tN

Further company coverage: AKZO.NS

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** Shares of Asian Paints ASPN.NS and Berger Paints India BRGR.NS drop 4% each

** Smaller firms Kansai Nerolac KANE.NS and Akzo Nobel India AKZO.NS decline 2% and 2.6%, respectively

** Oil prices rise on prospect of a widening Middle East conflict that could disrupt oil flow from the region O/R

** Crude prices make up for roughly one-third of paint makers' costs; higher crude prices will spike total costs

** As of Sept-end, ASPN had gained for seven consecutive months, BRGR for four

** ASPN, KANE rated "hold", while BRGR rated "sell" on an average - LSEG data

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Akzo Nobel India Ltd AKZO.NS rise as much as 4.6% to 3,855 rupees

** Paint maker says it has commenced commercial production at its Gwalior plant on Sept. 5 with an installed production capacity of 5166 T per annum

** Adds, invested 1.05 bln rupees ($12.51 million) to increase production capacity to meet the growing demand for powder coating, especially in North and East India

** Stock on track to gain for third week

** More than 50,000 shares traded as of 1:52 p.m. IST, busiest day yet in over a month

** AKZO last up 2.5%, adding to YTD gains of ~45% so far

($1 = 83.9250 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Aug 29 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GOT TAX DEMAND OF 92.7 MILLION RUPEES

Source text for Eikon: ID:nBSE90CJ9L

Further company coverage: AKZO.NS

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Aug 1 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• AKZO NOBEL INDIA LTD JUNE-QUARTER CONSOL NET PROFIT 1.15 BILLION RUPEES

• AKZO NOBEL INDIA LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 10.36 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: AKZO.NS

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** Kansai Nerolac Paints KANE.NS shares up 3%, set for best day in three weeks

** Kansai Nerolac, a unit of Japan's Kansai Paint 4613.T, reports 4% rise on adjusted Q1 profit, helped by price hikes

** Other paint companies -- Shalimar Paints SHLP.NS, Asian Paints ASPN.NS, Berger Paints BRGR.NS Akzo Nobel India AKZO.NS -- also gain 1%-2.5%

** KANE rated 'hold' on avg, as is ASPN and AKZO, while BRGR rated 'sell' (SHLP not covered) -LSEG data

** KANE down 12.5% YTD, with only SHLP worse off (down 17%), while ASPN down 11.5% and BRGR 10%; AKZO lone gainer, up 14%

** KANE's fwd 12-month PW of 30.2 is lowest, just under AKZO's 30.4, while BRGR at ~50 and ASPN at 54.4 -LSEG data

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Asian Paints ASPN.NS up 2.2% on track for its best day in a month

** Stock is top pct gainer on Nifty 50 .NSEI which is down 0.9%

** Co hiked prices of its products across its portfolio by 0.7%-1% to offset rising input costs, CNBC-TV18 reports

** ASPN did not immediately respond to Reuters' request for comment

** Peers Kansai Nerolac KANE.NS, Indigo Paints INDG.NS, Berger Paints BRGR.NS up between 1.2% and 3.9%; Akzo Nobel India AKZO.NS down 0.1%

** Analysts on avg have a 'hold' rating on Asian Paints, Nerolac, Akzo Nobel and Indigo Paints INDG.NS; Berger rated 'sell' -LSEG data

** Nerolac's 17% slide YTD is most, followed by Berger (14%), Asian Paints (13%) and Indigo Paints (3.7%)

** AKZO only paint-maker to post YTD growth, up ~11%

(Reporting by Varun Vyas in Bengaluru)

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July 4 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS SHOW CAUSE NOTICE FROM GST DEPARTMENT WITH DEMAND OF 3.7 MILLION RUPEES

Source text for Eikon: ID:nBSE4KfpLv

Further company coverage: AKZO.NS

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June 5 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS SHOW CAUSE NOTICE MENTIONING DISALLOWANCE OF ITC, TAX WORTH 1.01 BILLION RUPEES FROM KARNATAKA GST DEPARTMENT

Source text for Eikon: ID:nBSE7m2BKp

Further company coverage: AKZO.NS

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In May 16 news item, removes extraneous word "million" in bullet 1

May 17 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• MARCH-QUARTER CONSOL NET PROFIT 1.09 BILLION RUPEES VERSUS 954 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 9.73 BILLION RUPEES VERSUS 9.51 BILLION RUPEES

• DIVIDEND 25 RUPEES PER SHARE

Further company coverage: AKZO.NS

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May 15 (Reuters) - Paint maker Akzo Nobel India AKZO.NS reported a near 14% rise in its fourth-quarter profit on Thursday, aided by higher sales of its decorative paints.

The maker of Dulux paints reported a consolidated net profit of 1.09 billion rupees ($13.1 million) for the quarter ended March 31.

Revenue from operations rose 2% to 9.73 billion rupees.

For further result highlights, click [Full story]

KEY CONTEXT

Indian paint makers are facing a weak demand environment with consumers resorting to cheaper options, forcing larger players to cut prices to sustain their sales. Akzo Nobel India also flagged moderation in its volumes, but maintained better profit margin aided by favourable product mix across different categories.

Larger rival Asian Paints reported lower revenue in the March quarter and flagged lower demand in the premium segment of products, while Berger Paints BRGR.NS reported a marginal increase in revenue. Kansai Nerolac KANE.NS reported a 2% increase in revenue, while Indigo Paints INDG.NS is yet to report results.

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JANUARY-MARCH STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.4859 Indian rupees

(Reporting by Anisha Ajith in Bengaluru; Editing by Varun H K)

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** Asian Paints ASPN.NS edges 0.2% lower ahead of Q4 report

** Analysts expect ASPN to report 9.6% increase in Q4 profit, 3.8% rise in revenue -LSEG data

** Ambit Capital expects vol growth to slow to 6% from 14% year-ago on soft demand but expects price cuts to generate effective rev growth

** Jefferies sees gross margins to be flattish q-o-q, but expanding y-o-y on lower raw material prices

** Centrum says post-festival season demand remains sluggish yet picked up in Feb/March on demand for exterior paints, launch of new products, strong traction in damp-proof segment

** Analysts' avg rating on ASPN is "hold" -LSEG data

** Kansai Nerolac KANE.NS, Indigo Paints INDG.NS, Akzo Nobel AKZO.NS also 'hold's; Berger Paints BRGR.NS a 'sell'

** ASPN down 16.5% YTD vs Nifty 50's .NSEI 2.4% rise

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

April 29 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GOT TAX ORDER FOR DEMAND OF 400.6 MILLION RUPEES

• GOT ORDER DROPPING DEMAND OF 389.5 MILLION RUPEES

• FINAL DEMAND IN ORDER AT 11.1 MILLION RUPEES

Further company coverage: AKZO.NS

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April 26 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• GETS TAX DEMAND NOTICE FOR 4.6 MILLION RUPEES

Source text for Eikon: ID:nBSEjThvB

Further company coverage: AKZO.NS

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April 19 (Reuters) - Akzo Nobel India Ltd AKZO.NS:

• WEST BENGAL GST DEPARTMENT ISSUED ORDER DROPPING DEMAND OF 81.4 MILLION RUPEES

Further company coverage: AKZO.NS

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** Shares of Asian Paints ASPN.NS up 2.4% at 2,894 rupees

** Rise after ASPN says unit entered into agreements with Gujarat Chemical Port to set up ethylene storage and handling facility in Dahej, Gujarat

** Stock set to rise for the week, if gains hold, after two straight weekly losses

** Avg analyst rating on ASPN, Kansai Nerolac KANE.NS, Indigo Paints INDG.NS and Akzo Nobel India AKZO.NS is 'hold', while Berger Paints BRGR.NS is rated 'sell' - LSEG data

** ASPN down 15.4% YTD vs Nifty 50 .NSEI index's 3.5% rise

** BRGR, AKZO, INDG and KANE declined between 4% and 15% YTD

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

BENGALURU, Feb 22 (Reuters) - Grasim Industries GRAS.NS launched its paints business under the 'Birla Opus' brand on Thursday, and said it expects the unit to generate 100 billion rupees ($1.21 billion) in gross revenue in three years.

The Aditya Birla Group company had raised money twice in calendar 2023 to fund the paints venture. The forecast implies it expects to recoup its investment in the form of revenue by 2027.

The paints business, which adds to Grasim's flagship businesses of textiles and chemicals, could make the company the second-largest Indian paintmaker by capacity behind market leader Asian Paints ASPN.NS, according to analysts.

Asian Paints currently controls nearly half of India's paints market. It recorded a revenue of 90.75 billion rupees in the quarter ended Dec. 31.

Kansai Nerolac KANE.NS, Berger Paints BRGR.NS, Indigo Paints INDG.NS and Dulux paint-maker Akzo Nobel India AKZO.NS are the other major players.

Antu Thomas, research analyst at Geojit Financial Services, said Birla Opus could take as much as 1%-2% in market share from Asian Paints.

Jefferies added that the business would account for nearly half of the 25% capacity addition expected in the industry over fiscal 2024-2027.

"The paint sector has never seen such massive capacity build-out in such a short span even from incumbents," Jefferies analysts said in a note.

Products and services from the business, announced three years ago, will be available in three Indian states from mid-March, Grasim said.

($1 = 82.8670 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman )

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** Shares of Indigo Paints INDG.NS rise 3.7% to 1,512.55 rupees

** Brokerage Investec upgraded rating on the paintmaker to 'hold' from 'sell'

** While Indigo Paints, like other peers, would be impacted by stiff competition, recent initiatives (expanding to tier I, II towns, foray into waterproofing) should help it grow faster than peers - Investec

** Four analysts raised PT on the 'hold'-rated stock since it reported Q3 profit jump - LSEG

** Berger Paints BRGR.NS now the only sell-rated stock among major paint makers, while Asian Paints ASPN.NS, Akzo Nobel India AKZO.NS and Kansai Nerolac KANE.NS rated 'hold' - LSEG

** Among paint stocks, BRGR and AKZO have risen more than INDG's 14% climb in 2023

(Reporting by Kashish Tandon in Bengaluru)

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