Home repainting biz adds gloss to paint firms' Q1 show in times of slowdown

At a time when there is a visible moderation in demand across categories, companies such as Asian Paints, Berger, and Kansai Nerolac have surprised the Street with their June quarter (Q1) numbers. All three reported double-digit sales volume growth, estimated to be in the region of 15-18 per cent, when most other firms saw sales growth slip sharply.

Growth came despite a sustained slowdown in the automotive and construction segments, both of which are key users of paints. 

Explaining this curious trend, H M Bharuka, managing director, Kansai Nerolac, said the reason was a lower repainting cycle and the convenience