Reduce Berger Paints (India), target price Rs 505: ICICI Securities

ICICI Securities has reduce call on Berger Paints (India) with a target price of Rs 505.The current market price of Berger Paints (India) is Rs 582.75.

Berger Paints (India), incorporated in the year 1923, is a Large Cap company (having a market cap of Rs 56542.24 Crore) operating in Building Materials sector.

Berger Paints (India) key Products/Revenue Segments include Paints, Enamels, Varnishes, Contract Revenue, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 2704.47 Crore, up .78 % from last quarter Total Income of Rs 2683.50 Crore and up 5.39 % from last year same quarter Total Income of Rs 2566.22 Crore. Company has reported net profit after tax of Rs 198.68 Crore in latest quarter.

The company’s top management includes Mr.Kuldip Singh Dhingra, Dr.Anoop Kumar Mittal, Mrs.Sonu Halan Bhasin, Mr.Naresh Gujral, Mr.Pulak Chandan Prasad, Mrs.Rishma Kaur, Mr.Kanwardip Singh Dhingra, Mr.Abhijit Roy, Mr.Gurbachan Singh Dhingra, Mr.Anoop Hoon. Company has S R Batliboi & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 97 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of 31-Dec-2022, while FIIs owned 11.11 per cent, DIIs 2.89 per cent.