Berger Paints eyes 5% value growth in Q2, targets doubling turnover by 2029

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Berger Paints eyes 5% value growth in Q2, targets doubling turnover by 2029 - Business Standard

Quick Summary:

Coating major Berger Paints India Ltd has implemented three price hikes since June, which are expected to boost its 'value' growth to around 5 per cent in the second quarter ending September 2024, while maintaining a volume growth target of at least 10 per cent, an official said on Monday.

"We achieved a volume growth of 11.8 per cent in Q1 of FY2025, but value growth was just 2.5 per cent due to factors like price decreases, reduced raw material costs, and a slowdown in the luxury paints segment in West Bengal and Kerala.

The company also plans to close down the Howrah plant and convert it into a larger R&D centre by the end of 2025, once the greenfield Panagarh facility in West Bengal becomes operational.