Asian Paints Q4 Misses Estimates; Global Brokerages Slash Target Price

Most brokerage firms maintained their rating on Asian Paints post its March quarter results but slashed target prices as margins took a hit.

Asian Paints reported fourth-quarter earnings on May 9 that missed analysts estimates on weak operating income.

Consolidated profit was lower by 1.7 percent year-on-year at Rs 487 crore in the quarter ended March 2019. CNBC-TV18 poll estimated profit of Rs 570 crore and revenue of Rs 5,200 crore. EBITDA was expected at Rs 958 crore and margin at 18.4 percent for the quarter.

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