Indian paint sector faces margin squeeze amid rise in competition: Report

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Indian paint sector faces margin squeeze amid rise in competition: Report - Business Standard

Quick Summary:

Revenue growth for long-established players such as Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, and Indigo Paints moderated to 4 per cent in FY'24, significantly lower than the 14-15 per cent CAGR recorded between FY'19 and FY'23, CareEdge Ratings said in its study.

The decline was attributed to price cuts with softening raw material costs and an increasing share of lower-value products in the sales mix.

The Indian paint industry, after witnessing robust growth in FY'22 and FY'23, is bracing for a challenging landscape marked by intensifying competition and margin pressures, according to a report.