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<keyword id="201354" type="General" weightage="20" keywordseo="asian-paints-ltd" source="Orion">Asian Paints Ltd</keyword> on Thursday reported a 29 per cent decline in consolidated <keyword id="6431508" type="General" weightage="20" keywordseo="net-profit" source="Orion">net profit</keyword> to ₹605.17 crore in the second quarter ended September 30, on account of higher expenses, especially input costs. The company had posted a consolidated net profit of ₹851.9 crore in the corresponding period of last fiscal, Asian Paints Ltd said in a regulatory filing. Its consolidated revenue from operations in the second quarter stood at ₹7,096.01 crore, against ₹5,350.23 crore a year ago. The company said its total expenses in the second quarter stood at ₹6,418.17 crore as compared with ₹4,299.12 crore in the same period last fiscal. Of this, cost of materials consumed was at ₹4,570.53 crore as compared to ₹2,646.49 crore in the year-ago quarter, the company said. Asian Paints Ltd Managing Director and CEO <keyword id="2064764" type="General" weightage="20" keywordseo="Amit-Syngle" source="Orion">Amit Syngle</keyword> said, "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter." The company has taken a series of price increases and would look at further price increase to mitigate the impact of this persistently high inflation, he said adding that the company is confident that it should be able to turn this around strongly in the coming quarter. Syngle said the domestic decorative business continued to "move ahead on its high growth trajectory with an unprecedented 34 per cent volume growth in the quarter and a strong compounded growth rates over the last two years". The industrial coatings business also registered strong double-digit revenue growth, led by robust demand for protective coatings and uptick in the automotive sector. The home improvement business continued to scale up in a significant manner, registering its highest quarterly revenues, aided by strong alignment with the projects business, he added. "Performance in the international business was a mixed bag with good growth in the South Asian markets, while markets in the Middle East and Africa were sluggish with challenges around COVID-19 and forex (foreign exchange) availability," Syngle said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/dearness-allowance-hiked-by-3-to-31-for-central-government-employees/articleshow/87183710.cms">Dearness allowance hiked to 31% for central government employees</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/iaf-aircraft-mirage-2000-crashes-in-madhya-pradeshs-bhind-district-pilot-ejected-safely/articleshow/87182926.cms">IAF aircraft Mirage 2000 crashes in Madhya Pradesh's Bhind district, pilot ejected safely</a>

Asian Paints' net profit drops 29% on high raw material prices

<ul><li>Ogilvy and <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> have brought the 2nd video in ‘Har Ghar Chup Chaap Se Kehta Hai’ #StayHomeStaySafe series.</li><li>Voiced by the inimitable <keyword id="6375200" type="UNKNOWN" weightage="20" keywordseo="PIYUSH-PANDEY">Piyush Pandey</keyword> and directed by Neha Kaul of Corcoise Films, this video will surely bring a smile on everyone’s face and remind them what their home has been to them; a place of security.</li></ul>Continuing the journey of creating beautiful memories at home during the COVID-19 lockdown phase, Ogilvy and Asian Paints have brought the 2nd video in ‘Har Ghar Chup Chaap Se Kehta Hai’ #StayHomeStaySafe series. In its first instalment, the recreated version of the iconic commercial gave us a reason to smile and appreciate what we have during the current uncertain times. The second instalment, conceptualized by Ogilvy Mumbai, showcases individuals and families taking care of their homes in the current quarantine period. Upkeep of the house, an otherwise trying exercise, has now become a source of joy to family members. Children, grown men, even pets, everyone in the house is chipping in with their share of household chores. This relevant truth is beautifully captured to show how one’s relationship with one’s home, a relationship at the core of brand Asian Paints, is rekindled. <div type="Youtube" id="R5jEb9L2cgY" title="Asian Paints Har Ghar Chup Chap Se Kehta Hai" thumbUrl="https://i.ytimg.com/vi/R5jEb9L2cgY/mqdefault.jpg"></div> Voiced by the inimitable Piyush Pandey and directed by Neha Kaul of Corcoise Films, this video will surely bring a smile on everyone’s face and remind them what their home has been to them; a place of security. Speaking about this new ad, <keyword id="2064764" type="PERSON" weightage="20" keywordseo="Amit-syngle">Amit Syngle</keyword>, MD and CEO, Asian Paints Limited, said “Our second video is a very different take on the emotions associated with Homes, wherein the Home personification and its relationship with the people who live there comes to light in a very beautiful, interconnected way. The whole the camaraderie between the home and the members, bring the joy in reliving those real moments which strongly define the emotional connect. Relationships rekindle the fun routines and some lively activities, combined with daily chores, bringing the social message of Stay Home Stay Safe alive.” <keyword id="2811220" type="PERSON" weightage="20" keywordseo="Sukesh-Nayak">Sukesh Nayak</keyword>, Chief Creative Officer, <keyword id="531122" type="COMPANY" weightage="20" keywordseo="Ogilvy-India">Ogilvy India</keyword>, said “Staying at home we found a new corner in our home which has become our favourite spot and we found places to clean that we never did before. We found new love for our homes and we decided to capture this love in our film.”

Ogilvy India is back with a quarantine version of Har Ghar Kuch Kehta Hai

<ul><li>Shares of most paint makers have fallen in the last five days after one of the leading players, Asian Paints, reported a slowdown in profit on concerns over rising raw material prices.</li><li>Moreover, the market leader expects the increase in raw material prices to persist for some more time, which will eventually impact profits.</li><li>Raw material prices have been pushed up due to the high crude oil prices</li></ul>More than the excitement for anticipated demand during Diwali, an Indian festival, paint manufacturers are worried about the rising raw material prices hitting their profitability. The concern over rising costs elevated after one of the leading players, Asian Paints, reported a fall in profit due to high raw material prices, which is further expected to remain high for some time. Raw material prices have been pushed up due to the high crude oil prices. Note that half of the material used by paint companies are crude oil derivatives. Asian Paints reported a decline in net profit to ₹595 crore in September, below analysts’ expectations. "Steep inflation seen in raw material prices, since the beginning of this calendar year, has been phenomenal and has impacted gross margins across all businesses in the quarter," said Amit Syngle, managing director and chief executive of Asian Paints in a statement to an exchange on October 21. The commentary on rising cost inflation hit shares of other paint makers fearing slowdown in profitability in the near term. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Paint manufacturers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Returns in 5 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-14% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pidilite Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-9% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shalimar Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr></tbody><tbody></tbody></table> “Higher input prices will keep margins of the paint companies in the near term,” said a report by broking house Sharekhan. Adding to it, global chip shortage could impact supply of tinting machines which are key for paint dealers. The chip shortage could <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a> impact the supply of tinting machines and the expansion plans of paint companies. These machines help shops create different shades of paints within the store, in line with the requirement of customers. Dealers who use tinting machines do not have to hold large amounts of shades in stock. “We expect delays in (the supply of) tinting machines to remain for a few quarters for most paint companies. We expect less impact on top two companies, Asian Paints and Berger Paints, as they already have a high tinting machine penetration compared to smaller peers," said analysts at Edelweiss Securities, <a href="https://www.livemint.com/market/mark-to-market/paint-manufacturers-may-face-disruption-from-chip-shortage-11632765366605.html">reportedly</a>. With steep inflation in input costs weighing on profitability, paint companies may announce further price hikes and pass on the burden to consumers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-lost-subscribers-for-the-first-time-in-10-quarters-but-theres-good-news-for-mukesh-ambani-in-this-too/articleshow/87251614.cms">Reliance Jio lost subscribers for the first time in 10 quarters but there's good news for Mukesh Ambani in this too</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/bad-loans-at-icici-bank-have-never-been-this-low-in-the-last-seven-years/articleshow/87250046.cms">Bad loans at ICICI Bank have never been this low in the last seven years</a>

Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up

<ul><li>As per WPP and Kantar’s latest <keyword id="3755038" type="PERSON" weightage="20" keywordseo="BrandZ-Report">BrandZ report</keyword>, economic impact of COVID-19 led to a 6% drop in total value of ranking. </li><li>In challenging economic and social conditions created by the global pandemic and a pre-COVID-19 slowdown in the Indian economy, brands had to adapt quickly, with innovation and agility helping to fuel growth.</li><li>We caught up with brands like TCS, <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> and Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> to understand how they won their consumers’ trust even during gloomy times. </li></ul>Last week, WPP &amp; Kantar’s launched its BrandZ report featuring Top 75 Most Valuable Indian Brands 2020 report. This year’s ranking was worth $216 billion in brand value, a decline of 6% over last year, driven largely by a slowdown in the brand value of companies in the banking and automotive sectors. Despite the overall decline in brand value of the Top 75, 26 brands increased in value and five were new entrants. India’s top brands also performed well against other countries where declines in total brand value were much greater. For millions of Indians who stayed at home during the crisis, telecom providers have supplied a much-needed lifeline and fulfilled a growing demand for data-driven services like online gaming and media streaming. This helped Airtel (no.4, +36%, $13.9 billion) become the top telecom brand, while Jio saw its value increase 26%. Trusted brands have weathered the crisis better than brands with a low trust index. In a category where it is difficult to gain <keyword id="787639" type="PERSON" weightage="20" keywordseo="consumer-trust">consumer trust</keyword>, Airtel bet on its brand strategy of being open and transparent. It is now one of India’s <keyword id="418681" type="ORGANIZATION" weightage="20" keywordseo="Most-Trusted-Brands">most trusted brands</keyword> and grew by 36% in its brand value over last year. On what has helped Airtel float in an unstable market, Shashwat Sharma, CMO, Bharti Airtel, said, “As a brand we believe differentiation is critical, especially when it comes to delivering a brilliant customer experience and bringing unique services and solutions to customers. Through these uncertain times, we have been grateful for the opportunity to be able to deliver this differentiation and be the backbone that helped people to stay connected. From children having to take their classes online, to increased digital payments, to businesses finding new ways to keep their employees working, to enabling customers to have a few moments of entertainment in an otherwise dreary time, we have played a critical role in all their lives. Sharma added, “We see a silver lining to this disruption and we took a lead to help our customers in reducing disruptions in this unprecedented situation. We introduced several innovations within a matter of days so our customers can stay connected at all times – from online acquisition to simplifying payments journeys to the launch of Work from Home solutions to educating customers to recharge online, to having others do it for them enabling customers to easily access a varied range of services digitally.” Despite the paints industry struggling in India, top 5 brand Asian Paints (no. 5, $8.0 billion), grew its brand value by 14%, by focusing on meaningful difference, communications and innovation. The market leader, it has successfully brought out new products, while building a strong distribution network and raising its profile among key influencers like architects and professional painters. Addressing your consumers’ concerns tactfully plays an important role in improving brand value. Amit Syngle, MD and CEO, Asian Paints, said, “Asian Paints has always had a deep emotional connection with homes and as a legacy, owns ‘beautiful homes’ in a strong way. We have been able to nestle in the hearts of the consumers by being part of their journey, helping them design their dream home for years. In 2020, at the onset of the pandemic, our driving principle was to support the Government and the country and we pivoted our initiatives and communication towards the happiness and well-being of our consumers and partners. We have always invested in taking care of all our stakeholders and providing support during trying times. At Asian Paints, our core dictates us to care for our customers, the only way we know to earn their trust.” <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> was valued at 14,582M USD and placed at number 3. Rajashree R, CMO, TCS, said, “We are honoured to be amongst the top 3 brands in India. This is a recognition of the defining role TCS has played in transforming and globalizing India and its people. As part of the Digital India movement, we have played a key role in transforming industries, institutions and public services, thus becoming part of every Indian. With our thought leadership framework like Business.4.0 powered by the technology and innovation prowess, we have been crafting and enabling growth and transformation journeys for leading businesses all over the world as well as India. We would like to thank Kantar for recognizing the power of the TCS Brand and the achievements of the 450,000 employees behind it.”

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Asian Paints' net profit drops 29% on high raw material prices

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Ogilvy India is back with a quarantine version of Har Ghar Kuch Kehta Hai

BI India Partner

Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up

Bhakti Makwana

Here is how Airtel, TCS and Asian Paints continue to win consumer trust despite challenging times

BI India Partner

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