Speaking to CNBC-TV18's Latha Venkatesh at the biannual conference, Varnam, held in Bengaluru, paint sector head honchos said they are all expecting Union Budget 2017 to boost affordable housing and help them recover all the ground lost on account of demonetisation.
Abhijit Roy, MD & CEO of Berger Paints clarifies that the primary sale to dealers is not impacted but the demand from customers to dealers has reduced on back of concerns over availability of cash.
In an interview to CNBC-TV18, Abhijit Roy, MD & CEO of Berger Paints India said margins have been robust due to benign raw material costs.
The company has taken up a capacity expansion programme to enhance production substantially at the plant, the company's Managing Director and CEO Abhijit Roy said today.
Aggressive distribution network expansion and increasing share of premium products would help Berger Paints grow faster than the industry rate, says MD & CEO Abhijit Roy.
Abhijit Roy, MD and CEO of Berger Paints expects company's third quarter volumes to be better going forward.
Abhijit Roy, MD and CEO, Berger Paints says the company has performed well domestically both in decorative and industrial segment leading to a standalone revenue growth of 7.2 percent.
Abhijit Roy, MD & CEO of Berger Paints, says volume growth this quarter has been much higher than value growth.
So far the company has derived 1.2-1.3% EBITDA to sales benefit from the drop in crude, said Abhijit Roy, Managing Director, Berger Paints.
Abhijit Roy, MD of Berger Paints gave his views on the company‘s September quarter numbers.
Berger Paints‘ third quarter consolidated net profit grew 7.1 percent to Rs 82.3 crore and consolidated net sales jumped 11.8 percent to Rs 1,025 crore.
Berger Paints India Ltd is planning to invest Rs 120 crore on capital expansion for augmenting production capacity by 13,000 tonne per month to 33,000 tonne per month by the current financial year.
Despite posting a lower-than-expected profit for Q4, Berger Paints is hopeful of achieving reasonable decorative business volume growth going forward.
Paint major Berger Paints reported 57.14 percent rise in its consolidated net profit for the third quarter against Rs 49 crore in the corresponding period in the previous year.
Paints major Berger Paints Ltd said it aims to become a Rs 7,000 crore company in the next four years. "We have to grow 20 per cent year-on-year to double our revenue from Rs 3,300-3,500 crore now.
In an interview to CNBC-TV18, Abhijit Roy, chief executive officer of Berger Paints says there will be some improvement in profits possibly in Q3.
Berger Paints India said on Monday Abhijit Roy, senior vice-resident, sales and marketing, has been appointed as the chief operating officer of the company and would assume the charge of chief executive officer after June 30 when present CEO Subir Bose retires.