Kansai Nerolac, amongst the largest paint-makers of the country, is witnessing recoveries in auto coatings sales over the last three months. As a rebound in the paint industry happens, post Unlocking, the company is confident of reporting “double digit growth” for FY-21.
Decorative paints continue to be a growth driver, with rural sales outdoing urban markets for the time being. Urban markets – the primary consumption centres – are on a slow recovery track. Infrastructure and industrial paints, including sales for new real estate projects, continue to be sluggish.
According to HM Bharuka, Vice-Chairman and Managing Director, Kansai Nerolac Paints Ltd, there has been a “month-on-month improvement” in sales to the auto-OEM verticals. Although there is still a long way to go, the trend is a “positive one”.
In the passenger car and two-wheeler categories, few companies are doing well. The pandemic could in fact accelerate the