Paint industry unlikely to see further price hikes, says Indigo Paints
Indigo Paints reported a sluggish set of earnings for December-ended quarter. The slump was because of short festive season and therefore, October sales were low, not just for the company but for the entire paint industry.
Indigo Paints reported a sluggish set of earnings for December-ended quarter. The slump was because of short festive season and therefore, October sales were low, not just for the company but for the entire paint industry.
Speaking to CNBC-TV18 after the earnings report, Hemant Jalan, CMD of the company acknowledged that price hikes have been a driving factor behind the industry's recent performance. Despite this, he remained optimistic about the future and expected the paint industry to do well in the fourth quarter.
He said, “Going forward, neither do we have any COVID impact in the preceding year nor do we have any price correction. Therefore, the paint industry as a whole should come back to 11-12-13 percent value growth.”
Indigo Paints has been a leader in the paint industry for many years, consistently delivering high-quality products and outstanding customer service. Jalan's confidence in the industry's future is a testament to the company's commitment to excellence and its belief in the resilience of the market.
The stock is down about 2.63 percent in last five days and 12.20 percent in a month.
For more details, watch the accompanying video
(Edited by : Pradeep John)
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