Review

AKZO NOBEL INDIA LTD.

Ticker : 500710
FV : Rs 10
52-Week H/L : Rs 2,510/1,835

We recommended Akzo Nobel India in volume no. 37, issue no. 11 (dated January 04, 2021) when the scrip was trading at Rs 2,410.50. In the second quarter of CY21, the company recorded net sales and operating income of Rs 781.35 crore, recording a rise of 34.42 per cent from its net sales & operating income of Rs 581.27 crore reported for Q2CY20. The operating profit showed a rise of 16.33 per cent to reach Rs 119.53 crore in Q2CY21 from Rs 102.75 crore posted in Q2CY20. The company reported a net profit of Rs 74.25 crore in Q2CY21 as compared to Rs 54.08 crore recorded in Q2CY20, an increase of 37.3 per cent. The company's growth and delivery strategy continue to show strong momentum. It expects to grow in line with its relevant markets and has also, charted plans to deliver an average annual 50 basis points increase in return in sales over the period 2021-2023. Hence, we recommend HOLD.