Q1 2021 Asian Paints Ltd Earnings Call Transcript
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to do the honors. Thank you.
Good evening, everyone. I welcome you all to this investor call covering the first quarter results for financial year 2020/'21. Since the time we last interacted in the second fortnight of June 2020, we have seen the number of COVID cases rising at a faster pace across the country. This has also led to certain states reintroducing lockdowns and business restrictions either across the state or in a certain select regions and cities in the state.
Talking specifically for the first quarter, the decorative business in India saw an improvement in demand conditions over May and June after a complete washout in April. The business picked up progressively in Tier 2, Tier 3 and 4 cities where the demand conditions were better; however, in metros and some Tier 1 cities, the business was much slower. While the business achieved about 80% of the base volumes in May, we managed to register a double-digit volume growth in -- of more
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