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ICICI Securities Report
Asian Paints Ltd. has reduced the ‘trade scheme' (discounts) to 3-5% from 5-6% earlier.
Also earlier the dealers were getting benefits based on actual purchases. Now the scheme is linked to certain targets.
We expect dealers to focus more on Asian Paints' products to achieve targets (and avail schemes) - that's the insight from our conversations with paint dealers in Mumbai.
They told us,
1. Project business is severely impacted as construction workers, painters stay in distant suburbs and due to closure of public transport, they are not yet able to commute to Mumbai city,
2. waterproofing has performed well, however, on a smaller base,
3. All paint depots and dealers are operational now but with off-take level of 50-60% in July-August 2020, and
4. There were no new launches and/or pricing actions in July-August 2020.
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