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paint companies increase hiring to combat market challenges and competition

Indian paint companies are increasing their sales team hires to capture market share amid weak growth and fierce competition. Firms like Asian Paints and Berger Paints are investing 5-15% more in staffing to target smaller retail markets, responding to a slowdown that began in Q4FY24, exacerbated by rising crude prices and declining demand in the decorative segment, particularly in rural areas. Despite these efforts, companies continue to face challenges with moderate revenue and profit growth due to rising input costs and sluggish volumes.

quarterly earnings reports reveal mixed results across various sectors

The Q2 earnings season for FY25 is underway, with major companies like Apollo Hospitals, Kansai Nerolac Paints, and Trident set to release their results. While many firms have reported, the overall corporate earnings scorecard has been weak, with only 62% meeting or exceeding profit expectations, particularly in the consumption sector. Notably, GAIL's earnings missed expectations due to lower gas trading margins, while Power Grid's profit remained flat year-on-year.

Kansai Nerolac to sell land in Lower Parel for Rs 726 crore

Kansai Nerolac is set to attract attention on October 25 following its agreement to sell a land parcel in Lower Parel to Runwal Developers for Rs 726 crore. The company's board has also scheduled a meeting on November 6, 2024, to review its unaudited financial results for the quarter and six months ending September 30, 2024.
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