ICICI Direct: Kansai Nerolac’s Decorative Paints Segment Drives Q2 Performance
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ICICI Direct Report
Kansai Nerolac Paints Ltd. reported a strong performance with approximately 15% YoY growth in decorative paint volumes in Q2 FY21.
The strong volume growth is attributable to intact demand from semi urban and rural regions along with continuous dealer additions (grew 4-5% in Q2 FTY21).
Further, demand for premium range of emulsions witnessed a strong recovery with the opening up of metro and tier one regions.
The decorative segment value growth at 7% YoY was largely led by a change in product mix and dealer discount policies.
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