Asian Paints is targeting a double-digit volume growth, said KBS Anand, MD and CEO of the company. He expects a good monsoon and pay hikes for government employees to boost demand for decorative paints. In an exclusive interview to CNBC-TV18, Anand said the decorative paints market has picked up in the last three quarters. Growth in the company's international business is picking up, but Anand said it does not have a significant impact at the consolidated level. "Increase in margin was on account of lower commodity prices," he added. The EBITDA margin expanded 180 basis points to 20.1 percent from 18.3 percent percent in the June quarter The company's first quarter (April-June) earnings surpassed analysts' expectations on Wednesday with consolidated profit growing 18.7 percent year-on-year to Rs 553 crore, on strong operational performance. Anand is of the opinion that rural demand will grow faster than urban demand, because of good monsoons, which will boost farm income.
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