Asian Paints: June, July Showed New Demand, Says Managing Director Amit Syngle
A day laborer seeking work holds a paint roller at Green Valley Chowk junction in Noida, Uttar Pradesh, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Asian Paints: June, July Showed New Demand, Says Managing Director Amit Syngle

Asian Paints Ltd.’s Managing Director and Chief Executive Officer Amit Syngle said while May sales would likely represent pent up demand from the time of the lockdown, June and July sales suggest new demand, such as waterproofing or new projects.

Asian Paints Ltd.'s profit slumped in the first full quarter (Q1 FY21) affected by the coronavirus pandemic that froze economic activity on the back of a 43% decline in revenue.

Yet, most analysts maintained their bullish stance on Asian Paints Ltd. as a revival in demand after India eased lockdown curbs, benign raw material prices and cost cuts offset some of disruptions caused by the pandemic.

Watch the interview with Amit Syngle here...

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