Key Points

The company's consolidated revenue from operations slipped marginally by 0.34 per cent YoY to Rs 8,938.55 crore from Rs 8,969.73 crore, according to its stock exchange filing.

Asian Paints said its domestic decorative business recorded a volume growth of 3.9 per cent in Q1 but faced a 1.2 per cent drop in revenue.

The company attributed this to a soft demand environment caused by macroeconomic uncertainties, the early onset of the monsoon, and a shift in product mix.

The Home Decor segment also saw a decline, with household disposable incomes under pressure, although the Beautiful Homes Stores chain continued to perform strongly.

Internationally, the business recorded a value growth of 8.4 per cent, driven by strong performance in Asian markets, the UAE, and Egypt.

On a like-for-like basis, the international portfolio grew 11.1 per cent in revenue, or 20.4 per cent when adjusted for constant currency, with all major markets in the Middle East and South Asia doing well.

Amit Syngle, Managing Director and CEO of Asian Paints, said that while there was a slight uptick in demand from urban centres during the quarter, the monsoon slowed momentum in June.

He noted that the Industrial Coatings segment grew 8.8 per cent YoY, supported by strong results in the auto and protective coating categories.

Margins were slightly lower due to higher spending on sales and marketing.

Syngle added that the company remains confident about the long-term growth prospects of the paints and home decor industry and will continue to focus on innovation and brand building to navigate current demand challenges.1

On the Bombay Stock Exchange (BSE), Asian Paints shares opened at Rs 2,359 on Tuesday, hitting an intra-day high of Rs 2,418 and a low of Rs 2,326.55 per share.

However, it closed at Rs 2,406.10, up by Rs 46.50 or 1.97 per cent.

- IANS