Asian Paints’ consolidated gross margin felt the heat of high-cost inventory absorption in the September quarter (Q2FY27), sliding to a 15-quarter low of 39.7%, down around 350 basis points (bps) year-on-year. The cost of goods sold rose 24% year-on-year last quarter. Since this pressure was already anticipated, Asian Paints took a 5% price hike in Q2, following the 7% increase in Q1.
