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Paint major Berger's palette finds contrast in a washed-out quarter
Ram Prasad Sahu Mumbai
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Listed paint majors posted another lacklustre showing in the January–March quarter (Q4) of 2024–25 (FY25), with average revenue growth under 3 per cent. Sales were weighed down by Asian Paints — the market leader and the only major to report a year-on-year (Y-o-Y) decline. Excluding Asian Paints, the rest of the sector managed 5 per cent growth.
Top paint stocks have consistently lagged behind benchmark indices and sectoral peers (BSE FMCG and BSE Consumer Discretionary) across time frames from three months to two years. Brokerages remain wary, citing weak demand and intensifying competition.
Despite these headwinds, paint stocks are still

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