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<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

The <keyword id="6354944" type="COMPANY" weightage="20" keywordseo="aam-aadmi-party">Aam Aadmi Party</keyword> (<keyword id="6356115" type="COMPANY" weightage="20" keywordseo="AAP">AAP</keyword>) on Wednesday won four out of five seats in the municipal bypolls in Delhi. The <keyword id="1575" type="COMPANY" weightage="20" keywordseo="Congress">Congress</keyword> managed to win one seat, while the ruling <keyword id="58687" type="COMPANY" weightage="20" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (<keyword id="14666" type="COMPANY" weightage="20" keywordseo="BJP">BJP</keyword>) failed to get any. The AAP secured two seats in East Delhi (<keyword id="2054040" type="COMPANY" weightage="20" keywordseo="Kalyanpuri">Kalyanpuri</keyword> and Trilokpuri municipal wards) and two in North Delhi (Rohini and Shalimar Bagh). Delhi Chief Minister and AAP national president Avirnd Kejriwal congratulated the party workers for the win. He tweeted, "People in Delhi have once again voted for work. Congratulations to all. People were fed up with 15 years' rampant corruption of BJP in <keyword id="55093" type="LOCATION" weightage="20" keywordseo="MCD">MCD</keyword>. Now people want to hand over MCD to AAP." AAP's national spokesperson and MLA Raghav Chadha tweeted, "AAP wins semi final decisively, with roughly one year to go for MCD finals in 2022. It is time for Delhiites to put an end to the 15 year corruption plagued rule of BJP in MCD. Rajya Sarkar mein bhi Kejriwal, MCD mein bhi Kejriwal, Phir chalegi double engine ki Kejriwal sarkar". Polling was conducted on February 28 at 327 polling stations and 26 candidates were in the fray. Voting for the five municipal wards was recorded 50.86 per cent. Out of total 2,42,414 eligible voters, 1,23,299 people had casted their votes on Sunday. Kalyanpuri, one of the three municipal wards under the east civic body recorded the highest vote turnout with 59 per cent followed by Trilokpuri with 55.95 per cent and Chauhan Banger ward with 55.60 per cent. Two other municipal wards under North civic body -- Rohini C recorded 44.58 per cent and Shalimar Bagh saw the lowest share of votes The five wards where bypolls were conducted included Rohini C and Shalimar Bagh under North civic body, Trilokpuri, Kalyanpuri and Chauhan Banger under East Delhi Corporation. Shalimar Bagh ward is reserved for women; Trilokpuri and Kalyanpuri are reserved for SC category. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-600-crore-ipo-of-defence-components-maker-mtar-technologies-is-off-to-a-great-start-today/articleshow/81306780.cms">Former Blackstone exec’s firm MTAR Tech’s ₹600 crore IPO⁠ — what works for it and what doesn't</a> <a href="https://www.businessinsider.in/business/news/indian-companies-stand-to-lose-7-14-lakh-crore-to-climate-change-but-they-could-end-up-making-2-9-lakh-crore-too/articleshow/81306789.cms">Indian companies stand to lose ₹7.14 lakh crore to climate change — but they could end up making ₹2.9 lakh crore too</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-redmi-note-10-mobile-to-launch-soon-in-india-checkout-price-and-specifications/articleshow/81307291.cms">Xiaomi Redmi Note 10 series to launch soon – specs, price and everything you need to know</a>

MCD bypoll results: Aam Aadmi Party wins 4 wards, BJP nil

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

Bhakti Makwana

MCD bypoll results: Aam Aadmi Party wins 4 wards, BJP nil

IANS

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Rounak Jain

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