Crude prices have been spiking with benchmark Brent futures near the $83 per barrel level. With a big surge in demand for real estate, the market is expecting a big upturn in demand for paint companies during the festive season. Berger Paints CEO and Managing Director Abhijit Roy speaks at length on what all this means for the industry.
“There has been a substantial improvement in demand and the demand is buoyant. Over 2019 and 2020 – since Q2 was muted – the growth will be reasonably good,” he said in an interview to CNBC-TV18.
The company saw robust growth in the third quarter of FY21. “We had grown in excess of 20 percent in Q3FY21 and we had budgeted a lower growth rate this year. But as things stand, it looks like that this month at least, we will have reasonably good growth,” Roy said.
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The company has taken up a series of price increases to pass on its rising cost to the consumer. “We are reasonably comfortable as far as profitability is concerned in Q3FY22. We should be okay,” he said.
For the full interview, watch the accompanying video.
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