The stock fell 4% in the past two trading sessions following mixed December quarter (Q3FY24) results. The decorative paints segment saw 12% year-on-year volume growth aided by double-digit expansion in both rural and urban markets in the festive quarter. However, consolidated revenue growth of 5.4% missed estimates due to price cuts and unfavourable product mix as luxury products grew gradually.
Importantly, hereon, the uncertainty of changing sector dynamics mainly pricing and market share, with the entry of newcomers, is likely to keep investors edgy. Significant capex commitment of new entrants is feared to intensify competition. Grasim Industries Ltd is gearing up for a decorative paints product launch in this quarter.
To beat competition blues, lure customers especially in smaller towns and curb downtrading, Asian Paints took price cuts of about 1.3% so far in FY24.
Denne historien er fra January 19, 2024-utgaven av Mint Mumbai.
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Denne historien er fra January 19, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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