We are growing faster than industry, says Berger Paints CEO
“We are expecting that Q3 should probably be much better than Q2,” Abhijit Roy, MD and CEO, Berger Paints said in an interview with CNBC-TV18.
Berger Paints second quarter numbers were ahead of market expectations on most parameters.
“We are expecting that Q3 should probably be much better than Q2,” Abhijit Roy, MD and CEO, Berger Paints said in an interview with CNBC-TV18.
Roy said demand started picking up in August and September, helping the company post some good numbers.
“The volume growth was about 17 percent for the decorative business and overall volume growth was around 16 percent. October was much better than what we were doing in August and September,” he said.
The company is growing better than the industry average, Roy said.
Speaking about demand, Roy said, “Most of it is coming from the tier-II, tier-III and tier-IV towns. The demand there has been particularly strong, though it is also picking up in the urban centres.”
The company is looking at expanding capacity. “We had already envisaged a plant which is coming up near Lucknow. The initial investment which we have thought of to be about Rs 270-280 crore, we have scaled up to about Rs 450 crore. It is a bigger project and we will need that capacity. By December of next year we should be seeing the plant being operational,” he said.
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(Edited by : Santosh Nair)
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