Asian Paints has indicated that it is open to further price hikes, should the inflation rise further, CEO Amit Syngle said on July 17.
“One worry for the firm is inflation, and we have already taken a price increase in response to that. We are anticipating inflation of 1.5 percent in the upcoming quarter, and as a result, we will have to take further price increases,” Syngle said in the Asian Paints earnings call for the first quarter of FY25.
Compared to our competition, we feel our pricing is at a premium given the price elasticity. Our pricing decisions are based on our margins, and Asian Paints does not base it on competition, he added.
As we implement price hikes, we see the gap between value and volume growth to be around five to six percent, Syngle said. Volume growth for the upcoming quarter is likely to be in double-digits.
Our pricing decisions are based on our margins, we do not base it on our competition, said Syngle.
Source: moneycontrol.com
