Asian Paints surges 11% on strong revenue growth in Q4

The management said the domestic decorative business delivered a stellar performance, registering a 48 per cent volume growth in the quarter, led by robust growth in the premium and luxury product ran

Shares of Asian Paints moved higher by 11 per cent to Rs 2,839 on the BSE in intra-day trade on Friday after the company reported a strong 44 per cent year-on-year (YoY) revenue growth at Rs 6,651 crore in the March 2021 quarter (Q4FY21), led by a 48 per cent YoY volume growth in the decorative segment. The stock had hit a record high of Rs 2,871 on January 11, 2021.

The higher revenue growth was led by pent-up demand, especially as demand in Tier I cities recovered sequentially; recovery in the Project business; and gain in market share from organised