Asian Paints And Berger Paints Announce Reduction In Their Prices

Asian Paints is among the top paint manufacturing companies. At the same time, Berger Paints maintains its position as the second number in India. The paint sector companies have recently seen a reduction in their manufacturing costs and raw materials. Thus, the company decided to slash its selling price. Asian Paints and Berger Paints, including other companies, have reduced prices. Deciding to provide some benefit to their customers, they are now working on performing even better in the coming years. 

Paint companies are facing a lot of competition these days. It led to pressure upon several competitors. The readers are interested in knowing the opinions of the top market players after the new competition has arrived. Asian Paints has not mentioned much about the competition. The managing director of Asian Paints says the company is growing well with its latest product line. Their revenue increasingly depends on their new launches now. The total dependability is 11-12 per cent. The MD further says that the competition usually keeps coming and going. However, the market keeps going and has no impact after that. 

Amit Syngle says he doesn’t see any significant change on the ground that would severely affect their business. On the other hand, Berger Paints Managing Director Abhijit Roy mentions that they are more comfortable now after the release of the results. The competition made them worry earlier. They said that the competition is tough. However, they are still working fine, and it is not having any significant impact on their business as of now. 

The companies were asked their opinion about the new painting companies coming into the market, like Birla Opus by Aditya Birla Group. The company has kept its prices lower than Asian Paints to grab the user’s attention. Under which Birla Opus will operate, Grasim Industries has also taken a massive funding boost to support the business. Thus, they will also be spending a lot on advertisements. 

The industry leaders Asian Paints and Berger Paints have also cut costs, lowering the price of their products. Asian Paints will reduce the prices by 3.7%, while Berger Paints will reduce the prices by 4.5%. This will help them retain their older customers for longer. Asian Paints and Berger Paints are ready for tough competition in the industry. They will share any further changes to the prices shortly.