Berger Paints, which had closed yesterday at Rs.646.95, shot up to hit a new record high at Rs.675.45. It has come off this high and is now trading around Rs.654 levels.
The company yesterday declared a good set of results for Q2FY21. On a 9% (YoY) increase in consolidated revenue from operations at Rs.1743 crore, its net profit came in at Rs.221 crore, up 14%.
This performance of Berger Paints is very much in line with the others in the industry like Asian Paints and Kansai Nerolac, all reporting a double-digit growth on account of pent-up demand, especially from smaller towns ad cities catching up in Q2. While decorative paints have done well, industrial paints continues to lag.