Asian Paints capacity at FY20 end was 1.73 Bn Litres
Grasim targets 1.3 Bn litres (~75% of Asian Paints)
Asian Paints Current Capacity > Berger + Kansai + Indigo + Shalimar
#FMCGisLife #AsianPaints #Grasim @CNBCTV18Live
2/n
GRASIM
- To grow in paints through the Capacity route by investing 10000 Cr
- Paints is also a brand, distributor, tinting machine game
- Will be interesting to see if Grasim will be able to scale that
#Thread on #AsianPaints industry dominance
1/n
#FMCGisLife @CNBCTV18Live
Asian Paints capacity at FY20 end was 1.73 Bn Litres
Grasim targets 1.3 Bn litres (~75% of Asian Paints)
Asian Paints Current Capacity > Berger + Kansai + Indigo + Shalimar
#FMCGisLife #AsianPaints #Grasim @CNBCTV18Live
2/n
Asian Paints (No. 1) Qtrly Revenue = Berger Paints (No. 2) Annual Revenue
Asian Paints Annual Revenue is:
3.5X Berger
4.7X Kansai
10X Akzo Nobel
32X Indigo
They're already market leaders and Mgmnt said it increased >140 Bps in 2022
#FMCGisLife
3/n
Even at higher levels of RM Inflation and through all competitive intensity Asian Paints' Margins have been well above the industry
Last 12 months EBITDA Margin:
AsianPaint 17%
Berger 15%
Kansai 10%
AkzoNobel 14%
Indigo 15%
#FMCGisLife
4/n
DISTRIBUTION
- Total Reach for Asian Paints now at 1.45 Lk retail points
- Asian Paints Dealers alone as big as the entire industry put together
- They also have 46000 Tinting Machines (equal to entire industry together)
#FMCGisLife #AsianPaints
5/n
- Dealers keeping a paint company's tinting machine is among the biggest barriers of entry
- Tinting machines cost 1-1.5 lk per machine and need space at a dealer's store
- 2 out of 3 Asian Paints dealers already have tinting machines
#FMCGisLife #Asianpaints
6/n
Asian Paints spends 900-1000 Cr on Advertising every year
For Ref: Indigo Paints’ FY22 Revenue alone was 906 Cr
We all know the brand recall from Gattu, to Wah Sunil Babu, to Har Ghar Kuchh Kehta Hai and the more recent - Abhi Toh Aur Chalega ads!
#FMCGisLife
7/n
Would you believe it? Among the large paint players, it's actually the youngest company
Year of Establishment
Shalimar 1902
Nerolac 1920
Berger 1923
Akzo 1939
AsianPaint 1945
#FMCGisLife #AsianPaints #Grasim
8/n
- Quality comes at a steep price
- Co is among the most expensive stocks on all parameters
- Co's Market Cap at 10X FY22 sales
- MCap at 4X FY24e Entire Paint Industry
FY23e PE
Asian Paints 70X
Indigo 61X
Berger 50X
#FMCGisLife @CNBCTV18Live
9/9
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I'm going to do two history threads on Ethiopia, one on its ancient history, one on its modern story (1800 to today). 🇪🇹
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):
The famous \u201cLucy\u201d, an early ancestor of modern humans (Australopithecus) that lived 3.2 million years ago, and was discovered in 1974 in Ethiopia, displayed in the national museum in Addis Ababa \U0001f1ea\U0001f1f9 pic.twitter.com/N3oWqk1SW2
— Patrick Chovanec (@prchovanec) November 9, 2018
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
