Asian Paints, for the third consecutive quarter, saw its decorative paints volume growing in low single digits, despite a lower base due to demonetisation. For the third consecutive quarter, the company saw its decorative paints volume growing in the low single-digits, despite a lower base due to demonetisation. Second, the extended monsoon and intensifying competition in south India, a key market for Asian Paints, impacted overall demand, it said in a post-earnings conference call. Further, early festive demand too impacted sales to some extent, added the company. Interestingly, peer Kansai Nerolac Paints Ltd has reported double-digit growth in both decorative and industrial segments in the same quarter. Though the management is blaming subdued macro demand for disappointing volume growth, the fact that competitors continue to grow at a much faster rate is a concern, say analysts.
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