Currently, the industry stands at around Rs 62,000 crore. The paints and coatings sector encompasses a diverse range of products, with the architectural segment dominating at 69% on a volume basis, while the industrial sector accounts for the remaining 31%.
In the fiscal year 2022-23, the paints and coatings industry experienced positive developments, particularly in the form of softening raw material prices from their previous highs. As raw materials make up a significant portion, ranging from 55% to 60%, of the total input costs, the price corrections in crude oil and other essential components resulted in improved margins for the industry.
The growth of the paints and coatings industry is intricately linked to the overall economic growth of the country, which is influenced by factors such as income levels and infrastructure development. Despite potential risks stemming from fluctuating crude prices, macroeconomic environment, and inflationary pressures, the overall outlook for the industry remains promising.
Denne historien er fra July 25, 2023-utgaven av The Business Guardian.
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Denne historien er fra July 25, 2023-utgaven av The Business Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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Saj Hotels limited IPO opens on 27th september, 2024
Our company is engaged in Hospitality industry.
