AkzoNobel reports healthy Q4FY21; mgmt claims inroads into non-traditional, tier-3 & tier-4 towns

AkzoNobel India has made inroads into non-traditional, tier-2 and tier-3 towns, Rajiv Rajgopal, managing director (MD), told CNBC-TV18.

AkzoNobel India reported a healthy show for the March-ended quarter. Paints, powder, automotive and speciality coatings saw strong growth while the company faced some headwinds in the oil and gas segment.

“Our growth was secular, it was across segments and also we started making some ingress into our non-traditional towns, which is tier-3 and tier-4 towns. However, we have two challenges now as we approach the quarters ahead - the COVID-19 impact and the raw material inflation, which is impacting all the businesses across,” Rajgopal said.

On numbers, he said, “Our performance across paints, powder and automotive (auto coatings) business was very strong and post-growth above 34 percent. We had a bit of headwind on our oil and gas and out power sector, which dented but we are quite pleased with the performance we saw in our paint business which started growing in-line with the industry.”

For the entire management interview, watch the video