Berger Paints hit a new 52-week high today at Rs.351.55 but profit booking came in at this level and the stock is now at Rs.343 levels, up some 3%.
The company, for Q1FY20, posted a 32% (YoY) rise in net profit at Rs.177 crore on a 16% jump in revenue from operations at Rs.1716 crore.
EBITDA for the quarter was up 27% at Rs.305 crore and margins rose from 16.1% to 17.8%.
The company, for the current fiscal has earmarked Rs.200 crore toward modernisation of the existing units and greenfield units in the domestic market. It is also in the process of constructing its first colourant facility at Rishra, West Bengal.
The company said that it aims to grow in Russia and was also evaluating inorganic growth in the country while it continues to pump capital into the domestic market.