Asian Paints share was trading 1.7% lower on Thursday as the company plans to announce its September quarter results later in the day.
The company is likely to register 3% year-on-year (YoY) growth in its revenue at Rs 5,200 crore, while its net profit is expected to see a decline of 17% YoY.
Asian Paints share price touched an intraday low of Rs 2,078 falling 1.7% as against the closing price of Rs 2,114.35 on BSE. The stock also touched an intraday high of Rs 2,114.95, after opening at Rs 2,106. Asian Paints stock price currently trades 2.38% away from 52 week high of Rs 2142.65 on BSE.
Asian Paints stock has risen 16% since the beginning of the year and 7% in the last week. Market capitalisation of the firm stood at Rs 1,99,997.54 crore. The stock is trading higher than 5, 20, 50, 100 and 200-day moving averages.
As per Edelweiss Securities, company's revenue and EBITDA is expected to grow 7% YoY and 18.9% YoY to Rs 5,405.2 crore and Rs 1,135.1 crore, respectively while net profit is expected to dip by 11.4% YoY to Rs 748.3 crore on account of tax reversal in the base quarter.
"We expect the run rate of June to continue and the company to clock 13 per cent volume growth on a base of 14 per cent (Q1FY21 saw 36 per cent volume dip on a base of 16 per cent)," the brokerage added.
IDBI Capital said volume growth, JV performance, and gross margin trend will be the key focus areas. The brokerage said it estimates revenue of the company to come in at Rs 4,495.8 crore, down 11 per cent year-on-year (YoY) and up 53.8 per cent quarter-on-quarter (QoQ). Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is estimated at Rs 786.8 crore, down 17.6% YoY while on a sequential basis, the numbers are seen growing 62.5%.