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Wednesday, December 03, 2025 | 11:18 PM ISTहिंदी में पढें
No near-term triggers for building materials as Q2 growth stays muted
Building materials companies logged mid single-digit Q2FY26 growth amid monsoon disruption, weak retail demand. Brokerages remain split on an H2 rebound as pricing, PVC and competition stay in focus
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BOB Capital Markets continues to prefer pipes and bathware over tiles and wood panels, considering relatively better pricing discipline on account of high organised share and low global linkage.
The building material space continues to be hit by demand hurdles, weighing on growth prospects for yet another quarter. The sector posted mid-single-digit sales growth in the second quarter (July-September/Q2) of 2025-26 (FY26), with plastic pipes and the medium-density fibreboard (MDF) segment posting 8–9 per cent growth, while bathware and plywood segments grew below 5 per cent. Brokerages have a mixed view on the sector, with some expecting a recovery in the second half (H2) of FY26, while others remain cautious on the outlook.
Analyst Utkarsh Nopany of BOB Capital Markets points out that Q2 revenue growth for its building
