Kansai Nerolac Paints Ltd, one of the leading paint companies in India, on Friday said it recorded double-digit volume growth in the decorative segment after the company reported a weak set of Q2 numbers.
In an interview to CNBC-TV18, HM Bharuka, vice chairman and managing director, said, "Compared to industry results, Kansai has done reasonably well. If you look at extended monsoon and the Kashmir situation, where we are a leader, we had a significant loss of sale. Virtually zero sales coming from Kashmir, despite that we have been able to achieve double-digit volume growth. So, from that perspective, I think we have done very well."
"However, in auto, we do see a challenge in the coming six months. There are liquidity challenges and BS-VI challenge. However, we do not expect 25-30 percent downturn which we have seen in the first six months would be there. Maybe, there would be some recovery, but still it would be negative,” he added.