{"id":106758,"date":"2023-08-10T16:30:10","date_gmt":"2023-08-10T11:00:10","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106758"},"modified":"2023-08-10T16:30:12","modified_gmt":"2023-08-10T11:00:12","slug":"paint-stock-reports-40-increase-in-net-profits-announces-15-stock-split","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/paint-stock-reports-40-increase-in-net-profits-announces-15-stock-split\/","title":{"rendered":"Paint stock reports 40% increase in net profits; Announces 1:5 stock split \u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-650591154\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>India\u2019s second-largest paint manufacturer recently announced a stock split and its result for the April to June quarter (Q1FY24) of the financial year 2023-24. Its shares settled at \u20b9 693.00 apiece on Thursday\u2019s closing bell.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-181226058\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to an exchange filing, Berger Industries\u2019 consolidated profit after tax came in at \u20b9 354.91 in Q1FY24, up 39.89 percent compared to \u20b9 253.71 crores in the corresponding quarter of the previous financial year (Q1FY23). Its revenue climbed 9.78 percent to \u20b9 3029.51 crores as compared to \u20b9 2759.70 crores in the corresponding quarter of the previous year.\u00a0<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/BERGEPAINT\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Berger paints<\/a><\/strong> reported a sharp expansion in its gross margin at 39.8 percent in the reporting quarter, up 4.1 percent as against 35.7 percent in Q1FY23.\u00a0<\/p><p>In another development, the company\u2019s board, at its meeting held on August 09, 2023, considered and approved the issue of one bonus equity share of the face value of \u20b9 1 each against five equity shares of the face value of \u20b9 1 each, i.e., in the ratio of 1:5.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1093060656\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The bonus is subject to the approval of shareholders. If approved, these shares will be credited to the respective demat account of the shareholders on or before October 7, 2023, subject to completion of the rest of the formalities and approvals as and when required.&nbsp;<\/p><p>Berger Paints India is engaged in the manufacturing and selling of paints, varnishes and enamels. It is one of the top paint companies in India along with Asian Paints, Kansai Nerolac Paints, Indigo Paints and the like.&nbsp;<\/p><p>With a market capitalization of \u20b9 67,864 crores, Berger Paints is a large-cap company. It has an ideal return on equity of 20.41 percent and an ideal debt-to-equity ratio of 0.26. Its shares were trading at a price-to-earnings ratio (P\/E) of 70.66, which is higher than the industry P\/E of 15.93, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><p>The company\u2019s promoters hold a 74.99 percent stake in it, followed by foreign institutions with 10.83 percent, retail investors with 10.71 percent, domestic institutions with 2.44 percent and mutual funds with 1.03 percent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3320323712\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>India\u2019s second-largest paint manufacturer recently announced a stock split and its result for the April to June quarter (Q1FY24) of the financial year 2023-24. Its shares settled at \u20b9 693.00 apiece on Thursday\u2019s closing bell.&nbsp; According to an exchange filing, Berger Industries\u2019 consolidated profit after tax came in at \u20b9 354.91 in Q1FY24, up 39.89 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":101756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[10792,10791,10793,948,936],"class_list":["post-106758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-berger-paints-latest-news","tag-berger-paints-share-price","tag-berger-paints-stock-split-2023","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Paint stock reports 40% increase in net profits; Announces 1:5 stock split \u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"India\u2019s second-largest paint manufacturer recently announced a stock split and its result for the April to June quarter (Q1FY24) of the financial year 2023-24. 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