 "Valuation hurdle may limit gains in Asian Paints despite stellar Q4")
Despite price hikes, volume hit due to Omicron disruption in the early part of the quarter and a higher base, India’s largest paint company reported steady results in the March quarter. Asian Paints delivered an 8 per cent volume growth in decorative paints business ahead of consensus estimates which pegged the same at 3-5 per cent.
Vishal Gutka of PhillipCapital Research believes that volume growth was quite strong given challenges of high base (48 per cent volume growth in the base quarter) and a third covid wave during the early part of 4QFY22.
Urban markets saw higher double digit growth
