Asian Paints Limited has reported Consolidated financial results for the period ended June 30, 2023. The company has reported total income of Rs. 9379.38 crores during the period ended June 30, 2023 as compared to Rs. 8892.82 crores during the period ended March 31, 2023. The company reported total income of Rs.8705.91 crores during the period ended June 30, 2022. Asian Paints has posted net profit of Rs. 1550.37 crores for the period ended June 30, 2023 as against net profit of Rs. 1234.14 crores for the period ended March 31, 2023. The company posted net profit of Rs.1016.93 crores for the period ended June 30, 2022. “Our Domestic Decorative business registered double digit volume growth and a relatively healthy value growth, coming on a high base of the previous year. Both the Auto OE and the General Industrial coating businesses achieved a strong double‐digit revenue growth, led by growth in the Protective & Powder Coatings segment. Our international business was su...

1. Price Trend According to the data from toodudu (the average price of SG5 for calcium carbide method), the domestic PVC price is 6,650 RMB/ton on November 01, and the domestic PVC price is 6,817.5 RMB/ton on November 21st, an increase at 2.52% yesterday and an increase at 6.14% year-on-year. On November 21, the PVC Commodity Index is 86.39, which is the same as yesterday. It is lower 13.61% than the highest point at 100.00 on September 5, 2011 and it is 48.26% higher than the lowest point at 58.27 on December 20, 2015 (Note: Cycle refers to September 1, 2011 to date). 2. Market Analysis Product: Since November, PVC futures have been strong. Industry players expect to have a chance to fall from the peak. On November 21, closing price of night future is 6580, flat. The PVC spot opens up by the futures pulling up. In the off-season of consumption, PVC continues to rise. This is mainly due to the shortage of supply, associated with the continuous decline in social inventory. Since Octo...

India Ratings and Research (Ind-Ra) has upgraded Chemplast Sanmar Ltd’s (CSL) Long-Term Issuer Rating to ‘IND A+’ from ‘IND A-‘. The Outlook is Positive. Ind-Ra continues to take a consolidated view of CSL and its wholly-owned subsidiary, Chemplast Cuddalore Vinyls Limited (CCVL). CSL has provided a corporate guarantee towards loans of Rs 1,076.63 million availed by CCVL as of FY21. Moreover, CCVL has a significant scale and profitability, making the business strategically important to CSL’s consolidated profile. The upgrade and the positive outlook reflect a substantial improvement in CSL’s consolidated credit profile after the completion of the initial public offering (IPO) in August 2021, healthy profitability over FY21-9MFY22, backed by strong polyvinyl chloride (PVC) prices, and Ind-Ra’s expectation of an improvement in CSL’s business profile over the medium term. This will be on the back of a consolidation of its market leadi...