Paint makers face a crude shock as competition stays fierce

Cost cycle

Mathur notes that past periods of sharp cost inflation (H1FY22, H1FY23) were followed by equally sharp margin rebounds, aided by price hikes in subsequent periods as inflation eased. But this time, as inflation eases, the aggressive challengers, Birla Opus and JSW Dulux, would find greater room to manoeuvre on product pricing to drive market-share gains, he cautioned.