• Industrial price hikes: Industrial coatings delivered double-digit growth in Q1, and ongoing price negotiations expected to conclude in Q2 will be applied retrospectively from April to help offset high-cost inventory pressure.
• Market share gains: The company outpaced market growth across both automotive and non-automotive industrial lines in Q1, positioning it to close the financial year with higher overall market share.
• Industrial capex plans: The board approved a ₹600 crore capital expenditure to add approximately 66,000 metric tonnes per year of industrial capacity over the next two years, representing a 10% capacity addition with scope for future low-cost incremental expansions.
• Decorative demand outlook: Demand momentum remains positive ahead of an extended festive season peaking in November, with a 5.5% to 6% price increase realized in Q1 and a potential further hike of 3% to 5% if required.