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Prabhudas Lilladher Report
We are cutting FY22/F23 earnings per share by 7.7%/2.6% on near term input cost pressures although we remain positive on long term growth drivers.
We expect Asian Paints Ltd. to sustain double digit volume growth led by-
1. market share gains from both organised and unorganised players due to strong focus on economy segment
2. rising innovation in paints and coatings,
3. encouraging growth across water-proofing/ construction aids and extending presence in adhesives
4. strong penetration opportunity in small towns and rural India and
5. foray into designer tiles and home décor business allowing Asian Paints to emerge as a complete home solution company.
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