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Asian Paints Ltd. hosted the Q1 FY22 results call on July 20, 2021. PPG Industries Inc. (global second largest paints and coating company by revenue, third largest by market cap) hosted its Q2 CY21 results call around the same time.
In our interpretation (from the call), Asian Paints expects raw material inflation to decelerate, whereas, interestingly, PPG U.S. expects raw material inflation to continue for now, and it explains it’s view on impact on auto original equipment manufacturer (some implications for Kansai Nerolac Ltd., Akzo Nobel India Ltd. etc. in our view).
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