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The early arrival of the monsoon this year and intense competition from new market entrants with aggressive pricing adversely impacted the June quarter earnings of leading paint makers. However, the top four listed paint makers, including Asian Paints, Berger Paints, Kansai Nerolac Paints and Akzo Nobel India, reported some sequential improvement, especially from the urban market, along with improvement in sales realisation due to price rise. Moreover, as Diwali is slightly ahead compared to last year, paint manufacturers expect a better performance in August and September. Asian Paints, the largest company in the sector, said the early monsoon was a bit of a dampener, which affected some of its business. "In April and May, the demand was better, but it was strongly impacted by the early monsoon. However, I think the silver lining was that we saw some shoots of demand coming up in urban areas, which were down, and we hope that it continues as we go ahead," Asian Paints Managing ...
Wood coating products manufacturer Sirca Paints India has reported a 39.2 per cent increase in its consolidated net profit to Rs 14.20 crore for the first quarter ended June 30, supported by growth in margin and sales. It had reported a net profit of Rs 10.21 crore a year ago, according to a regulatory filing by Sirca Paints India on Saturday. Sirca Paints' revenue from operations surged 45.26 per cent to Rs 114.24 in the June quarter of FY26. It was Rs 78.64 crore in the corresponding quarter of the preceding fiscal. The total expenses of Sirca Paints jumped 44 per cent to Rs 95.26 crore in the June quarter. In the quarter, Sirca Paints' EBITDA margin improved to 19.74 per cent from 17.89 per cent in the year-ago period. Sirca Paints' total income, which includes other income, climbed 43 per cent in Q1 FY26 to Rs 114.44 crore. "In Q1 FY21, the company shifted its wall paint manufacturing unit to a new, bigger premises in response to higher than originally anticipated demand. Bes
Reflecting an intense competition in the Indian decorative paints industry with new entrants offering aggressive pricing and discounting, leading players have reported impact on sales realisation and margins in FY25, but expect a modest growth this year. The industry, which also faced a demand slowdown from urban markets and downtrading, where consumers are moving towards more affordable options, expects a modest growth in FY26, driven by favourable macroeconomic conditions, rising urbanisation, and increased construction and infrastructure development activities. Asian Paints which holds over 50 per cent of the domestic market said new entrants as well as established players with their "aggressive pricing and discounting strategies" are intensifying competition, which affected its value realisations as well as the profitability. The overall weak consumption trends prevalent through FY25 had a dampening impact on the domestic decorative paints market, particularly the urban markets,
Berger Paints India Ltd on Tuesday reported a 1.4 per cent decline in consolidated net profit to Rs 295.97 crore in the December 2024 quarter, impacted by price cuts, muted urban demand and slowdown in a few key markets. The company had posted a consolidated net profit of Rs 300.16 crore in the third quarter last fiscal, Berger Paints India Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 2,975.06 crore against Rs 2,881.83 crore in the corresponding period a year ago, it added. Total expenses in the quarter stood at Rs 2,608.13 crore, up from Rs 2,504.32 crore in the year-ago period, the company said. "The tough market conditions continued into the third quarter with muted urban demand and slowdown in a few key markets. In spite of this, we were able to deliver high single-digit volume growth in the quarter and also saw sequential uptick in both volume and value growth," Berger Paints India Managing Director & CEO ...
Berger Paints Ltd chairman Rishma Kaur on Monday said that the company will continue to build on its century-old legacy of trust and innovation while focusing on "sustainable" growth and strategic expansion. Kaur said the company is maintaining a cautious approach towards any acquisitions. When asked why the company did not bid for Akzo Nobel's paints business which is up for sale in India, Pakistan and Sri Lanka, the Berger Paints chairman told PTI that "Under the current circumstances, it does not align with our strategy. Therefore, we have not placed any bid so far." She said, "We have our plans, whether competition is high or low. We will deal with it in a structured manner. If a good acquisition opportunity arises, we will evaluate it based on the price-benefit equation. However, we have the capability to grow organically, and that remains our priority. We have acquired companies in the past and will continue to consider acquisitions if they align with our strategic ...
The Indian paint industry, after witnessing robust growth in FY'22 and FY'23, is bracing for a challenging landscape marked by intensifying competition and margin pressures, according to a report. Revenue growth for long-established players such as Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, and Indigo Paints moderated to 4 per cent in FY'24, significantly lower than the 14-15 per cent CAGR recorded between FY'19 and FY'23, CareEdge Ratings said in its study. The decline was attributed to price cuts with softening raw material costs and an increasing share of lower-value products in the sales mix. While the volume growth remained high at over 10 per cent, the revenue moderation can be attributed to price cuts undertaken by the players to partly pass on softening raw material cost and change in product mix with a growing share of lower-value products," the report said. The revenue was further impacted in the first half of FY'25 (H1FY'25) due to stiff competition, genera
Coating major Berger Paints India Ltd has implemented three price hikes since June, which are expected to boost its 'value' growth to around 5 per cent in the second quarter ending September 2024, while maintaining a volume growth target of at least 10 per cent, an official said on Monday. Speaking after the company's 100th AGM, Berger revealed that its next milestone is to double its turnover to Rs 20,000 crore by 2029, up from Rs 10,000 crore in FY2024. The company also plans to close down the Howrah plant and convert it into a larger R&D centre by the end of 2025, once the greenfield Panagarh facility in West Bengal becomes operational. "We achieved a volume growth of 11.8 per cent in Q1 of FY2025, but value growth was just 2.5 per cent due to factors like price decreases, reduced raw material costs, and a slowdown in the luxury paints segment in West Bengal and Kerala. "The three price hikes between June and August will improve and mitigate the cost impact of 1.5 per cent, ...
JSW Paints crossed Rs 2,000 crore in revenue from operation in FY24 and logged its first operating profit in five years of inception, a top company official said on Thursday. The JSW Group firm, which aims for Rs 5,000 crore revenue in the next two years, is expanding its retail presence in the home decorative business and adding more products in the industrial coating business, company's Joint Managing Director & CEO Sundaresan AS said. "We have been able to achieve operating breakeven this year (FY24)," Sundaresan told PTI. JSW Paints, which is among the new entrants in the fast-growing Indian paints industry, is aiming "to grow much faster than the market". "We aim to keep growing anywhere from 5 to 10 times the market growth. In the current year (FY24), We have grown 10 times the rest of the industry," he said adding that JSW Paints is bringing new products into the market, expanding its reach and network and continuing to invest in building the brands. Asked about JSW Paints'
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