Asian Paints recorded a stupendous performance with topline growth of ~24% YoY led by ~21% YoY (I-direct estimate) growth in volume. Strong festive demand coupled with aggressive price hikes (~6% YoY in May-December 2018) helped drive the topline in Q3FY19. The volume growth was led by lower end product categories (higher distemper sales in Q3FY9) resulting in lower realisation growth. According to the management, the price hike was insufficient to offset the higher raw material prices. As a result,...