BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Most paint dealers indicated that volume growth is likely to be in low teens during Q3 FY22. While there was healthy growth in October-November 2021, the month of December 2021 saw deceleration.
While April-June quarter is key season for waterproofing, most dealers indicated that there was strong demand in Oct-Dec 2021 too as consumer habits are changing -
many consumers are waterproofing their houses while painting and
the paint companies have also increased the marketing investments/efforts in waterproofing,
passenger vehicle production declined (19.5%) and two wheeler production declined (23%) in Oct-Nov-21, YoY. The index of Consumer durable production also declined 6.1% in Oct-21,
there were price hikes in two tranches in Q3 FY22. We note paint companies have effected cumulative price hike of 22-25% YoY,
there is steep inflation of 26-145% across major input prices. There is sharp increase in freight and transportation cost too.
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