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No plans to cut prices as raw material prices volatile: Asian Paints

Updated : October 23, 2020 02:26:43 IST

Asian Paints reported strong a strong Q2 performance with double digit decorative volume growth and highest EBITDA margins in at least 30 quarters.

All segments including luxury grew well in tier-III and tier-IV cities, Amit Syngle, MD & CEO of the company said in an interview to CNBC-TV18.

“Tier-III and tier-IV cities have grown much faster than metros and tier-II,” he said.

“All product segments seem to be going at a good pace given the fact that T-3 and T-4 are going at a much higher rate. They are outstripping the growth across segments and that is why we see that there is a difference between value and volume which has come in,” Syngle further added.

The company saw double-digit volume growth in September and demand in October kept pace, he added.

On prices, he said there were no plans to cut prices as raw material situation was uncertain.

“Raw material prices have moved higher as demand is picking up. As far as margins go, there is a huge amount of work which has been done with respect to sourcing efficiencies, formulation efficiencies as well and that’s something which has given stability in terms of what we have been able to achieve over a period of time and a part of this should stay as we go forward,” added Syngle.

We want to be a complete home decor company, he added.
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