Page 144 - CW E-Magazine (28-5-2024)

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INCREASED COMPETITION
Paint companies pass on raw material savings

and cut prices

Paint companies have started slashing Director and Chief Executive Officer, the thought that this competition is
prices following the decline in raw mate- Asian Paints, said, “New products serious, but it has not started impact-
rial costs, passing on the benefit to the form a sizable part of our overall ing us in a strong way as of now.”
consumer. revenue. They are 11-12 per cent of the
top line … it gives higher profitability Talking about competition,
Asian Paints, the largest player in to the network.” Mr. Abhijit Roy, Mr. Syngle told investors, “It doesn’t
the segment, and Berger Paints cut managing director and Chief Executive impact the market. And there have been
prices in the quarter ended March. Officer, Berger Paints, told investors so many new players in the last two
Asian Paints cut prices by 3.7%, the on its conference call after announcing decades.” These comments come on the
company said in its earnings call. its results that the company was more back of Aditya Birla Group making an
Berger Paints said it cut prices by comfortable now than it was earlier entry into the paints business with Birla
around 4.5% in January. The company with competition in the sector. “We Opus. The newest entrant has priced
took a marginal price cut, of 1%, in were more anxious earlier. I think after its products at a discount compared
November. Mr. Amit Syngle, Managing two months, we are bearing down to to Asian Paints.

Geothermal energy resource potential map mooted

The necessity of developing a sed by the CSIR-National Geophysical Director, Mr. Ranjith Rath advocated
resource potential map for geothermal Research Institute (CSIR-NGRI) in repurposing of existing deep bore wells
energy; the urgency to enhance survey Hyderabad, he said there is a need to originally drilled for hydrocarbon
activity for geothermal exploration; evaluate technical feasibility and eco- exploration to harness geothermal energy
and initiating a pilot project to show- nomic viability for the proposed work and establishing a steering committee
case the effectiveness of geothermal and called for robust collaborations to expedite geothermal energy-rela-
potential, were recently emphasised by among various entities, including ted initiatives. ONGC-Energy Centre
Ministry of Earth Sciences Secretary, national research institutes, State or- Director General, Mr. Ravi shared
Mr. M. Ravichandran. ganisations, industries, and other rele- insights into recent endeavours in
vant stakeholders. Ladakh and explained about the ambi-
Participating in a brainstorming ses- tious plans to construct deep bores of
sion on ‘Geothermal Energy’ organi- Oil India Chairman and Managing 1-MW energy-generating wells.

TRADE MEASURE
Anti-dumping duty on Chinese and Thai polyol

suppliers mooted

The Directorate General of Trade Wanhua Chemical will incur a duty of following a petition from the sole produ-
Remedies (DGTR) has proposed the $534 per tonne, while other Chinese cer of these polyols in India, Manali
imposition of anti-dumping duties on producers will face a duty of $608 per Petro chemicals Ltd., based in Chennai.
suppliers of flexible slabstock polyols tonne. Thai producers will be subject
from China and Thailand. The recom- to a duty of $480 per tonne, except for According to DGTR, India’s current
mendation suggests these duties be GC Polyols, whose products will carry capacity for flexible slabstock polyols
enforced for a five-year period, unless a duty of $470 per tonne. stands at approximately 50-ktpa, yet it
repealed prior to that. is operating at only around two-thirds
The investigation, conducted over the of this capacity, primarily due to low-
Under this proposal, imports from course of a year by DGTR, was initiated priced imports.

144 Chemical Weekly May 28, 2024

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