Asian Paints Ltd’s decorative paints business saw high single-digit volume growth in the September quarter, pulling back from a low single-digit growth in the June quarter. The Asian Paints management said, in a post-results conference call, that the impact of GST continued through July but September saw a recovery. Analysts estimate the company will report double-digit volume growth in the second half of the fiscal year. It should be noted that peer Kansai Nerolac Paints Ltd reported 18% volume growth in decorative paints in the September quarter. Even though Asian Paints’ volumes recovered, margins witnessed a compression.

Source: Mint October 25, 2017 01:52 UTC