Consumer – Sector Update – Paints: Adverse weather spoils festive cheer!
Published on 15 Sep 2025
Our channel checks across regions suggests that decorative paints demand in Q2FY26 is affected by adverse weather conditions, more so in North Indian states. Dealers in the North region reported high single to low double-digit volume declines while west and south reported low double-digit growth while east is high single digits. We expect 2Q26 trend to imitate Q3FY23 when extended monsoons impacted festive demand, resulting in tepid volume growth for paint companies (APNT-0%, KNPL-(1.8%), Berger-6.6%).
