BERGEPAINT

BENGALURU, Feb 11 (Reuters) - Diary of India economic, corporate events on Feb 11

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru 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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Jan 7 (Reuters) -

• BERGER PAINTS ACTIVELY LOOKING TO BUY AKZO NOBEL'S INDIA STAKE - CNBC TV18, CITING SOURCES

• AKZO NOBEL'S PROMOTERS LOOK TO EXIT INDIA MARKET WITH SALE OF THEIR 74.6% STAKE; DEAL VALUE EXPECTED TO BE AROUND 100 BILLION -120 BILLION RUPEES - CNBC TV18

Source text: https://tinyurl.com/4tuwrxvc

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Nov 14 (Reuters) - India's Grasim Industries GRAS.NS reported a lower second-quarter adjusted profit on Thursday, dragged down by poor demand in its paints division due to higher-than-usual monsoon rainfall.

The company, which also has chemicals and yarns businesses, reported a profit before exceptional items of 7.71 billion rupees ($91.4 million) in the three months ending Sept. 30, down 3% from a year ago.

Grasim's standalone numbers exclude earnings of its units UltraTech Cement ULTC.NS and Aditya Birla Capital ADTB.NS.

The company's paints division, launched earlier this year under the Birla Opus brand, has hurt its margins as the company continues to invest in the business.

Moreover, paint makers saw weak demand as the country saw above-average monsoon rainfall during the quarter, which impacted sales.

Grasim's revenue rose about 18% to 76.23 billion rupees for the quarter.

Its total expenses surged 26% to 78.65 billion rupees, causing Grasim's margins on earnings before interest, tax, depreciation and amortization to contract to 18% from 19% a year earlier.

Rivals Asian Paints ASPN.NS, Berger Paints India BRGR.NS and Kansai Nerolac Paints KANE.NS, all experienced a slump in profit, hurt by muted demand due to heavy monsoons.

($1 = 84.3970 Indian rupees)

(Reporting by Ashna Teresa Britto and Kashish Tandon in Bengaluru; Editing by Vijay Kishore)

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Nov 11 (Reuters) - India's Asian Paints ASPN.NS fell as much as 9.3% on Monday, after it reported a second-quarter net profit on Saturday that nearly halved and a volume growth that disappointed some analysts.

The second-quarter results were a miss with sales below industry peers, said Macquarie.

The company's sales volumes, which declined 0.5%, were weaker than that of other large peers such as Berger Paints' BRGR.NS 3.6% rise and Kansai Nerolac's KANE.NS 4% overall volume growth, said Morgan Stanley.

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

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Nov 5 (Reuters) - Berger Paints India Ltd BRGR.NS:

• BERGER PAINTS INDIA Q2 CONSOL NET PROFIT 2.7 BILLION RUPEES; IBES EST. 2.84 BILLION RUPEES

• BERGER PAINTS INDIA Q2 CONSOL REVENUE FROM OPERATIONS 27.75 BILLION RUPEES; IBES EST. 28.37 BILLION RUPEES

• BERGER PAINTS - EXPECT 2ND HALF OF YEAR TO BE BETTER IN TERMS OF REVENUE, PROFITABILITY

Further company coverage: BRGR.NS

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Aug 9 (Reuters) - Berger Paints India Ltd BRGR.NS:

• BERGER PAINTS INDIA Q1 CONSOL NET PROFIT 3.54 BILLION RUPEES; IBES EST. 3.42 BILLION RUPEES

• BERGER PAINTS INDIA Q1 CONSOL REVENUE FROM OPERATIONS 30.91 BILLION RUPEES; IBES EST. 31.29 BILLION RUPEES

Further company coverage: BRGR.NS

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May 15 (Reuters) - Nippon Paint Holdings Co Ltd 4612.T:

• NIPPON PAINT HOLDINGS CO LTD - TO CHANGE ACQUISITION PERIOD OF NIPPON PAINT (INDIA), BERGER NIPPON PAINT AUTOMOTIVE COATINGS

• NIPPON PAINT HOLDINGS CO LTD - EXECUTION DATE WILL BE CHANGED FROM 'FIRST HALF OF 2024' TO 'BY END OF 2024' DUE TO APPROVAL PROCESS FROM INDIAN AUTHORITIES TAKING LONGER THAN ANTICIPATED

Source text for Eikon: ID:nTSqo9204c

Further company coverage: 4612.T

(Reporting by Kantaro Komiya)

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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)

(([email protected]; X: @MukherjeeHritam;))

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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Feb 13 (Reuters) - Berger Paints India Ltd BRGR.NS:

• BERGER PAINTS INDIA LTD - ALLOTTED LAND MEASURING ABOUT 80 ACRES IN ODISHA FOR SETTING UP A MANUFACTURING UNIT

• BERGER PAINTS INDIA LTD - ANNUAL CAPACITY OF PROPOSED UNIT ABOUT 410,000 KL/MT

Source text for Eikon: [ID:]

Further company coverage: BRGR.NS

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Feb 6 (Reuters) - Berger Paints India Ltd BRGR.NS:

• Q3 CONSOL NET PROFIT 3 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 28.82 BILLION RUPEES

• YEAR AGO Q3 CONSOL PROFIT 2.01 BILLION RUPEES, REVENUE 26.94 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BRGR.NS

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BENGALURU, Nov 2 (Reuters) - Berger Paints India BRGR.NS on Thursday reported lower-than-expected second-quarter earnings, as a weak monsoon and delayed festivities offset cooling raw material costs.

Consolidated net profit rose nearly 33% year-on-year to 2.92 billion rupees ($35.1 million) for the quarter ending Sept. 30, but fell short of analysts' estimate of 3.08 billion rupees as per LSEG data.

Berger's revenue grew 3.6%, its slowest in 12 quarters, and also missed analysts' estimates.

Analysts had expected paint companies' sales to be impacted due to erratic distribution of monsoon rains and delayed festivities. India's monsoon this year was its lowest since 2018.

While Berger's decorative segment posted a double digit volume growth, the sale of exterior paints - used to protect walls from environmental deterioration - was heavily impacted due to delayed festive season and rains in September, CEO Abhijit Roy said in a statement.

Raw material costs, which account more than 60% of the total expenses, fell nearly 6%, but lower revenue growth impacted profits at India's second-biggest paint company by revenue.

Prices of key raw materials for paint companies, such as titanium dioxide and vinyl acetate monomer, declined 6.4% and 44.4% respectively, while crude oil prices fell 7.6%, ICICI Securities said in a pre-earnings note.

Rival Asian Paints ASPN.NS last month reported improved margins, though it missed profit estimates, while Kansai Nerolac's KANE.NS profit rose led by a fall in expenses.

($1 = 83.2290 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Varun H K)

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Aug 9 (Reuters) - Berger Paints India Ltd BRGR.NS:

• Q1 CONSOL NET PROFIT 3.54 BILLION RUPEES ; REFINITIV IBES EST. 3.29 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 30.30 BILLION RUPEES

• YEAR AGO Q1 NET PROFIT 2.53 BILLION RUPEES, REVENUE FROM OPERATIONS 27.60 BILLION RUPEES

• POWDER COATINGS UNDERPERFORMED IN Q1, EXPECTED TO DO BETTER IN Q2

Source text for Eikon: ID:nNSE2HwWqg

Further company coverage: BRGR.NS

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Aug 1 (Reuters) - Berger Paints India Ltd BRGR.NS:

• TO CONSIDER ISSUE OF BONUS SHARES BY CAPITALISATION OF RESERVES

Source text for Eikon: ID:nBSE6YF5W3

Further company coverage: BRGR.NS

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June 27 (Reuters) - Berger Paints India Ltd BRGR.NS:

• AWARDS ITS MEDIA ACCOUNT TO DENTSU X AGENCY

Source text for Eikon: ID:nNSERQB5v

Further company coverage: BRGR.NS

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** Shares of Berger Paints India Ltd BRGR.NS fall as much as 2.8% to 611.4 rupees

** Paint manufacturer says March-qtr net profit fell 15.8% to 1.86 bln rupees ($22.7 mln); revenue from operations grew 11.7%

** Elara Capital (downgrades to "reduce"; PT of 654 rupees) says it rates co on lower-than-expected sales and deteriorating category dynamics

** BRGR to compete aggressively with new players; expect impact on EBITDA margins in FY25 and beyond due to rising expenses, say analysts at ICICI Securities ("reduce"; PT of 547 rupees)

** Trading volume at ~2 mln shares, 3.3x the 30-day avg of ~635,000 shares as of 1:50 p.m. IST

** Average rating of 23 analysts covering stock close to equivalent of 'sell'; median PT is 610 rupees - Refinitiv data

** Stock last up ~5% YTD, trimming gains of 8% up to last close

($1 = 81.7800 Indian rupees)

(Reporting by Biplob Kumar Das in Bengaluru)

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May 15 (Reuters) - Berger Paints India Ltd BRGR.NS:

• BERGER PAINTS INDIA MARCH-QUARTER CONSOL NET PROFIT 1.86 BILLION RUPEES VERSUS PROFIT 2.21 BILLION RUPEES

• BERGER PAINTS INDIA MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 24.44 BILLION RUPEES VERSUS 21.88 BILLION RUPEES

• DIVIDEND 3.20 RUPEES PER SHR

Source text for Eikon: [ID:]

Further company coverage: BRGR.NS

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