ASIANPAINT

Feb 28 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - GETS TOTAL TAX DEMAND OF 41.2 MILLION RUPEES

Source text: ID:nNSELW0Cb

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Feb 14 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - TO SELL INDONESIA BUSINESS FOR SGD 7.5 MN

• ASIAN PAINTS LTD - TO CEASE OPERATIONS IN INDONESIA

• ASIAN PAINTS LTD - EXPECTED LOSS OF 900 MILLION RUPEES FROM INDONESIA DIVESTMENT

Source text: ID:nBSE8y7pYs

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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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Feb 6 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS LTD - PARTNERS WITH ASIAN PAINTS FOR TRANSPORTATION SOLUTIONS

Source text: ID:nNSE1GJ75b

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** Asian Paints ASPN.NS falls ~4% to 2,262 rupees; top loser on benchmark Nifty 50 .NSEI, which is up 0.13%

** Management flags muted urban demand in short-term; says will likely recover post Q1 FY26

** At least 16 brokerages cut PT post results, nine slash ratings - LSEG

** Investec says it continues to fear that new entrants can impair earnings for players like ASPN, with the impact likely exacerbating if demand remains challenged

** CLSA retains "cautious stance", citing heightened competition that will keep growth and margins under pressure

** Stock set to log biggest intraday pct decline since Nov. 11, 2024, post Q2 results on Nov. 9

** ASPN last down ~1%, swings to YTD loss

(Reporting by Manvi Pant in Bengaluru)

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Feb 4 (Reuters) - India's Asian Paints ASPN.NS missed third-quarter profit estimates on Tuesday, pressured by intense sector competition and a continued reduction in discretionary spending by inflation-strained consumers.

The paintmaker's consolidated net profit came in at 11.11 billion rupees ($127.6 million) during October-December, below analysts' average estimate of 11.31 billion rupees, as per data compiled by LSEG.

($1 = 87.0550 Indian rupees)

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

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** Asian Paints ASPN.NS sheds ~33% in 2024; set for worst-ever year

** Top paint maker's stock trades flat at 2,290.5 rupees; second-worst performing stock on Nifty 50 .NSEI index, which is up 8.6%

** Stock slid sharply as weak demand for paints led to missed Q1 and Q2 earnings, while intensifying competition forced price cuts

** Analysts downgraded stock, with 15 rating it "sell" or lower, the highest number of such ratings in at least two years - LSEG

** ASPN also worst-performing Indian paint stock this year

(Reporting by Nandan Mandayam in Bengaluru)

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Dec 10 (Reuters) - Life Insurance Corporation of India LIFI.NS:

• INCREASED ITS STAKE IN ASIAN PAINTS FROM 5.001% TO 7.010%

• STAKE BUY AT AN AVERAGE PRICE OF 2891.25 RUPEESPER SHARE

Source text: ID:nNSE1X8qCt

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Nov 26 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - A P INTERNATIONAL DOHA TRADING W.L.L. VOLUNTARILY LIQUIDATED

Source text: ID:nBSE72Cw66

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** Shares of Asian Paints ASPN.NS slid ~11% for the week, set for their worst weekly performance since Feb. 2022

** Paint maker's stock drops in 3 out of 4 sessions this week, set for seventh straight week of decline; Indian markets will be closed on Friday for a local holiday

** ASPN slumped to an over four-year low on Monday after its Q2 profit missed estimates, as price cuts and floods in some parts of India dragged down sales volumes

** At least 26 analysts slashed PT on ASPN after results; median PT at 2,550 rupees vs 2,819 rupees last month- LSEG data

** Avg rating on ASPN, rivals Berger Paints BRGR.NS and Kansai Nerolac KANE.NS at "hold" - LSEG data

** All three paint makers log YTD losses, with ASPN's falling 27%, KANE dropping 21% and BRGR declining 19%

(Reporting by Kashish Tandon in Bengaluru)

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Updates with stock milestones, background, results, and commentary from Jefferies and Nomura

Nov 11 (Reuters) - Asian Paints' ASPN.NS shares slumped the most in over four years on Monday, as price cuts across its products and floods in some parts of India dented second-quarter sales volumes and dragged profit below analysts' estimates.

The stock fell as much as 9.3% on the day to the bottom of the benchmark Nifty 50 index .NSEI, and was set for its worst day since March 2020.

Asian Paints, India's largest paintmaker by market share, has previously flagged weak demand for its premium products as inflation-hit shoppers choose cheaper alternatives.

To win them back, and with competition in the sector tightening following Grasim Industries' GRAS.NS entry, incumbents have been forced to cut prices.

Volume slowdown, market share loss and faster-than-expected scale-up for new entrants are key risks for Asian Paints, Morgan Stanley analysts said in a note.

Asian Paints on Saturday said profit nearly halved to 6.95 billion rupees in the three months ended Sept. 30, missing analysts' estimate of 10.19 billion rupees, data compiled by LSEG showed.

Analysts at Jefferies were concerned about competition, saying it blurred the outlook, while Nomura added that overall sales for the company "will still look anaemic" despite sales volumes likely improving in the second half of this fiscal.

Its sales volumes declined 0.5%, trailing a 3.6% growth at peer Berger Paints BRGR.NS and 4% at Kansai Nerolac KANE.NS.

Net sales fell 5% to 80.03 billion rupees, below the revenue estimate of 85.06 billion rupees. Berger Paints' sales was largely flattish and Kansai posted a 5% drop, said Macquarie.

Out of 34 analysts covering the company, at least two downgraded the stock after results while two cut respective target prices, per LSEG data.

Berger and Kansai Nerolac shares declined 2.6% and 2.3%, respectively, on Monday.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)

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Sept 10 (Reuters) - Asian Paints Ltd ASPN.NS:

• APPOINTMENT OF VARUN BERRY AS AN INDEPENDENT DIRECTOR

Source text for Eikon: ID:nBSE73BWjf

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Aug 28 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS - GETS TOTAL TAX DEMAND OF 229.8 MILLION RUPEES

Source text for Eikon: ID:nNSElRj25

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Adds background in paragraph 3, analyst comments in paragraphs 6-8

BENGALURU, July 18 (Reuters) - Shares of Asian Paints ASPN.NS fell as much as 4.5% in early trade on Thursday, a day after India's no.1 paint maker reported its steepest quarterly profit slide in three years, hurt by weak demand and price cuts.

Out of 34 analysts covering Asian Paints, at least six downgraded its shares after the results, while at least nine cut their price targets, LSEG IBES data showed.

Inflation-weary customers switching to cheaper options have forced the market leader to cut prices amid intensifying competition after Grasim Industries' GRAS.NS entry into the paint sector.

Asian Paints' margins are expected to remain under pressure due to increased marketing spends to stave off rising competition, analysts at Antique and Systematix said.

The company reported a profit below analysts' estimates for the three months to June, while revenue also slipped on "tough" demand conditions amid heat waves and India's national elections.

"Management clarified that this performance has nothing to do with rise in competition... (but) our concerns persist," Jefferies said in a note.

The company retaining its full-fiscal year guidance on double-digit percentage volume growth implies a sales value growth of 8% for the remaining bit of fiscal 2025, Ambit Capital said.

Even with price hikes, that seems "marginally steep", Ambit said.

Shares of Asian Paints, which were the second-worst percentage loser on the benchmark Nifty 50 .NSEI in early trade, were trading 1% lower at 10:20 a.m. IST. The Nifty 50 also reversed earlier losses.

So far this year, the paint maker's stock has fallen 14.2%, lesser than smaller rival Kansai Nerolac's KANE.NS 17% slide and Berger Paints India's BRGR.NS 14% drop.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

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July 17 (Reuters) - Asian Paints Ltd ASPN.NS:

• CONFIDENT OF GREEN SHOOTS SEEN IN RURAL MARKETS IN FY25

• SEEING SOME SIGNS OF INFLATION IN CERTAIN RAW MATERIALS

• KEY GEOGRAPHIES OF NEPAL, BANGLADESH & EGYPT SEEN TO REMAIN CHALLENGED IN NEAR TERM

• SUPPLY CHAIN CHALLENGES TO BE MONITORED WITH CONTINUED RED SEA SHIPPING CRISIS

Source text for Eikon: ID:nNSEmHSwG

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Updates

** Shares of Asian Paints ASPN.NS up 3.5%

** Stock is top gainer on Nifty 50 .NSEI, which is down 0.6%

** Co hiked prices of 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, Akzo Nobel India AKZO.NS, Berger Paints BRGR.NS up 1%-3.4%

** Indigo Paints INDG.NS up 10%, most among paint cos, set for best day since Nov 2022

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

** Nerolac's 14.6% slide YTD is most among peers, followed by Berger (12.3%) and Asian Paints (11.6%)

** Day's move flipped Indigo Paints to YTD gains of 1.3%; AKZO up 14% YTD

(Reporting by Varun Vyas in Bengaluru)

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July 1 (Reuters) - Asian Paints Ltd ASPN.NS:

• INSTALLED CAPACITY OF THE MYSURU PLANT HAS BEEN INCREASED TO 6,00,000 KL PER ANNUM

• 13.05 BLN RUPEES HAS BEEN INVESTED BY COMPANY TOWARDS INCREASE IN INSTALLED CAPACITY

• FUNDED THROUGH INTERNAL ACCRUALS

Source text for Eikon: ID:nNSE8JXjcR

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** Asian Paints ASPN.NS drops 0.9% as the stock trades ex-dividend

** Stock top loser on blue-chip Nifty 50 .NSEI, which is up 0.4%

** Stock's div yield of 1.13% is 19th highest among the 50 stocks on the Nifty 50

** ASPN has fallen 14.5% YTD, while on a total return basis, its decline is 13.7%

** The Nifty 50 has gained 7.4% so far this year

** Analysts rate ASPN a 'hold' and, on avg, expect it to rise 1.2% over next 12 months -LSEG data

(Reporting by Savio Dsouza)

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** India's Asian Paints ASPN.NS likely to see a margin decline in FY25 on higher ad spends, negative pricing, says brokerage Systematix

** ASPN down 1.1%, among the 13 Nifty stocks in the red amidst a broadbased rally

** Nifty .NSEI up 1% at midday

** Operating profit margin (OPM) for country's top paint producer to contract to 20.4% in FY25 - brokerage

** ASPN's annual OPMs expanded in the last three fiscal years, from 16.5% in FY22 to 21.4% in FY24

** Brokerage sees ASPN hiking promotional expenses by 44% y/y in FY25, higher than 13.3%-22.2% growth range from the last three fiscal years

** YTD ASPN down ~14% vs a 4.8% rise in NSEI

(Reporting by Hritam Mukherjee in Bengaluru)

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May 27 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - UNIT ENTERED INTO SHARE PURCHASE AGREEMENT WITH CERTAIN MINORITY SHAREHOLDERS OF SCIB CHEMICALS S.A.E.

• ASIAN PAINTS LTD - DEAL FOR ACQUISITION OF 24.3% SHARE CAPITAL OF SCIB FOR CONSIDERATION OF USD 4.13 MN

• ASIAN PAINTS LTD - POST COMPLETION OF ACQUISITION UNIT SHALL HOLD 85.6% STAKE IN SCIB

Source text for Eikon: ID:nBSE8LGtkT

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BENGALURU, May 9 (Reuters) - India's Asian Paints ASPN.NS reported fourth-quarter profit below estimates on Thursday, pressured by higher crude prices and tighter competition following the entry of Grasim Industries GRAS.NS.

The company's consolidated net profit rose 1.8% from last year to 12.57 billion rupees ($150.6 million) in the quarter ended March 31.

Analysts were expecting a profit of 13.62 billion rupees, as per LSEG data.

($1 = 83.4720 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Subhranshu Sahu and Varun H K)

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BENGALURU, May 4 (Reuters) - India's Kansai Nerolac Paints KANE.NS reported a higher profit for the fifth straight quarter on Saturday, aided by sustained demand from decorative and industrial coatings.

WHY IT'S IMPORTANT

Growing activity in India's real estate sector has stoked demand for decorative home paints and benefited companies including Kansai Nerolac.

Prices of crude - which accounts for roughly one-third of paintmakers' costs - have eased from their 2022-highs, but were still higher year-on-year during the January-March period.

The entry of Grasim Industries GRAS.NS into the sector will intensify competition in an already crowded industry, dominated by market leader Asian Paints ASPN.NS, analysts have said.

BY THE NUMBERS

Japan's Kansai Paint Co 4613.T-owned firm's consolidated net profit rose about 24% year-on-year to 1.16 billion rupees ($13.9 million) in the quarter ended March.

Revenues at India's third-largest paintmaker by market capitalisation rose over 2% to 17.69 billion rupees, while a rise in input costs helped total expenses tick 1.7% higher.

KEY QUOTES

"The demand for industrial coatings though good, moderated from previous quarter. Decorative once again recorded double digit volume growth," said Managing Director Anuj Jain.

"Going forward, the forecast of a good monsoon should augur well for paint industry," he added.

($1 = 83.3760 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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April 26 (Reuters) - Asian Paints Ltd ASPN.NS:

• GETS TAX DEMAND NOTICE FOR 28.3 MILLION RUPEES

• GETS TAX DEMAND NOTICE WITH PENALTY OF 2.8 MILLION RUPEES

Source text for Eikon: ID:nNSE2LxS5C

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** HSBC cuts PT for Asian Paints ASPN.NS to 3,750 rupees from 4,020 rupees on possible imminent pricing disruption in sector, prospects of margin erosion

** Confusion persists in investors' minds whether Grasim’s GRAS.NS entry into decorative paints will lead to prolonged margin erosion, growth slowdown for the incumbents - brokerage

** ASPN shares fell 16% in qtr-ending March, HSBC attributes fall to investor worries on Grasim's entry

** HSBC says its research shows Grasim’s pricing is 4-5% lower than Asian Paints for some products and similar as Asian Paints' for some other products

** Brokerage keeps "buy" rating on ASPN

** ASNP "hold" rated among 34 analysts; median PT 3,250 rupees - LSEG data

** ASPN shares down 0.2% at 2,868 rupees

(Reporting by Sethuraman NR in Bengaluru)

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March 28 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - APPROVED SCHEME OF AMALGAMATION OF MAXBHUMI DEVELOPERS AND SLEEK INTERNATIONAL WITH COMPANY

• ASIAN PAINTS LTD - SCHEME OF AMALGAMATION FOR AMALGAMATION OF MAXBHUMI WITH CO

• ASIAN PAINTS LTD - SCHEME OF AMALGAMATION FOR AMALGAMATION OF SLEEK WITH CO

Source text for Eikon: ID:nBSE5gD8kl

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** Analysts at Morgan Stanley say paints business launched by Grasim Industries GRAS.NS in Feb will have 5-6% cheaper product pricing than Asian Paints ASPN.NS, which currently controls nearly half of India's paints market

** With Grasim's entry into the paints business, dealers indicate ASPN has intensified servicing - MS note

** Separately, demand trends for paint companies is similar across urban and rural dealers in Q4; better demand seen in southern markets - brokerage

** Adds 3-5% price cuts have been taken across brands and products in Q4

** GRAS has gained 4.5% so far this year while ASPN is down ~16% YTD

** Peers Kansai Nerolac Paints KANE.NS, Berger Paints India BRGR.NS and Indigo Paints INDG.NS have lost ~19%, ~7% and 11%, respectively, YTD

(Reporting by Dimpal Gulwani in Bengaluru)

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** Macquarie expects limited impact from Grasim Industries' GRAS.NS expansion into paints sector on Asian Paints' APSN.NS earnings

** Lists ASPN and Kansai Nerolac Paints KANE.NS as preferred picks in sector

** While investors worry about likely impact due to GRAS's entry, Macquarie positive on segment in general and ASPN in particular

** Grasim's entry is not an attack on industry profitability like how Jio's entry impacted telecom - Macquarie

** Says smaller players could be impacted due to rising cost of capital and Grasim's free-tinting machine scheme, sees no major adverse impact on ASPN due to its high scale

** Cuts FY25/26 EPS by 6% for Berger Paints BRGR.NS, 9% for KANE; lowers BRGR's TP to 490 rupees from 520 rupees, trims KANE's TP to 320 rupees from 360 rupees

** Analyst recommendation on ASPN, KANE is "hold", while BRGR has "sell" - LSEG data

** BRGR, ASPN, KANE down 6%-19% YTD, while GRAS up 2.4%

** Since Feb. 21, when GRAS announced paints foray, GRAS has declined 0.5% while ASPN shed 4.2% - LSEG

(Reporting by Rama Venkat in Bengaluru)

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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)

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March 6 (Reuters) - Asian Paints Ltd ASPN.NS:

• UNIT ENTERED INTO AGREEMENTS WITH GUJARAT CHEMICAL PORT LIMITED

• AGREEMENTS TO SET UP AN ETHYLENE STORAGE AND HANDLING FACILITY IN DAHEJ

Source text for Eikon: ID:nBSE2TZ4d3

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March 1 (Reuters) - Asian Paints Ltd ASPN.NS:

• RECEIVED LETTER ALLOTTING LAND ADMEASURING 166 ACRES SITUATED AT PITHAMPUR, MADHYA PRADESH

Source text for Eikon: ID:nBSE2DK8M3

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