Paint makers to retain gloss with 10-12% growth in fiscal 2024
Paint

Paint makers to retain gloss with 10-12% growth in fiscal 2024

The paints sector will see revenue growth of 10-12 per cent in fiscal 2024, largely driven by volume expansion on the back of healthy demand from sectors such as construction, real estate, and automobiles.Healthy revenue growth of 18 per cent on-year was witnessed in fiscal 2023 as well. H...

The paints sector will see revenue growth of 10-12 per cent in fiscal 2024, largely driven by volume expansion on the back of healthy demand from sectors such as construction, real estate, and automobiles.Healthy revenue growth of 18 per cent on-year was witnessed in fiscal 2023 as well. However, this was primarily led by higher realisations on the back of a 6 per cent price hike taken by the players during the year, along with the full impact of a 20 per cent hike implemented in the third quarter of the previous fiscal.Anuj Sethi, Senior Director, CRISIL Ratings, says, “Demand for paint normally grows at 1.6x-2x of GDP. Decorative paints are likely to see a revenue increase of 11-12 per cent in fiscal 2024, driven by increasing renovation/construction activity and a greater preference for branded products from the increasing middle-class segment. On the other hand, 8-9 per cent revenue growth in industrial paints will be supported by higher government spending on infrastructure and steady demand from the automotive segment.”Healthy volume growth, along with moderating crude-linked input prices will ensure that the operating margin remains stable at 15-16 per cent in fiscal 2024. Besides, nearly debt-free balance sheets will continue to support the credit risk profiles despite all major paint companies being on an aggressive capex spree even as new players foray in.A study of five paint companies, which account for nearly 90 per cent of the organised sector revenue totalling Rs 650 billion, indicates as much.

Next Story
Resources

KBL Launches Smart Skid Mounted Fire Pump Set

Kirloskar Brothers (KBL) has launched its Smart Skid Mounted Fire Pump Set, an integrated fire protection solution designed to improve operational efficiency, remote monitoring and installation flexibility. The system was inaugurated by Ms Madhuritai Misal, Hon. Minister of State for Urban Development, Government of Maharashtra.The Smart Skid Mounted Fire Pump Set is a factory-tested, pre-packaged solution that combines FM/UL-certified motor and engine pump sets with IoT-enabled remote monitoring. Designed to deliver a flow rate of 170 m³/hr at a head of 100 metres, the system aims to provide..

Next Story
Real Estate

Senior Living Shifts Beyond Retirement Housing

Senior living in India is increasingly being positioned as a lifestyle-driven housing segment rather than conventional retirement accommodation. Across projects in Bengaluru, Pune and the NCR, developers are focusing on wellness ecosystems, assisted independence and active ageing, reflecting changing perceptions of later life among urban affluent buyers.The shift is being driven by financially secure seniors seeking socially engaged and professionally managed communities instead of ageing in large family homes. Developers are also moving away from standalone retirement campuses, particularly i..

Next Story
Products

Antica Ceramica Launches Heritage-Inspired Terracotta Tiles

Antica Ceramica has launched a new terracotta tile collection inspired by India’s architectural heritage and designed for contemporary interiors and exteriors. The range combines handcrafted aesthetics with modern functionality, bringing warmth, texture and cultural character to residential and hospitality spaces.Drawing inspiration from traditional courtyards, verandahs and heritage homes, the collection features terracotta tones, handcrafted motifs and customisable patterns aimed at transforming flooring and surfaces into design elements. The launch reflects growing demand for natural mate..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

-->