Weekly FMCG Update: Berger Paints exits Akzo deal; Q3 results

Berger Paints is no longer in talks to acquire Akzo India
Berger Paints has withdrawn from the race to acquire Akzo Nobel’s India unit due to its high valuation. According to leading business portals, Abhijit Roy, managing director of Berger Paints said that the company is doing well on its own and sees no urgent need for the acquisition. However, if Akzo Nobel’s India unit is offered at a fair price, Berger would consider it. Akzo Nobel is re-evaluating its position in India amidst growing competition in the decorative paints sector.

Asian Paints’ Q3 results
In the third quarter (Q3) of FY 2024-25, Asian Paints reported a 6.1% decrease in revenue and a 23.5% decrease in profit. The company's results were impacted by weak demand, especially in urban areas, something that is proving to be a spanner in the works across industries. Revenue from operations was ₹8,549.44 crore, down from ₹9,103.09 crore in the same quarter of the previous year. The industrial coatings business grew by 3.8%. The home decor business grew by 1.6%. 

Swiggy’s on the up-and-up
According to a press release, Swiggy reported a 38% year-on-year (YoY) increase in gross order value (GOV) to INR 12,165-crore, with food delivery GOV rising 19.2% and Instamart GOV growing 88.1%. The platform’s adjusted EBITDA loss reduced by 2% YoY to INR 490-crore. Innovations like Bolt and expanded darkstore rollouts boosted user growth. Swiggy's average monthly active users (MTU) grew 25.3% YoY, with Instamart expanding to 84 cities and accelerating darkstore growth.

Britannia continues with price hikes
To keep up with inflation, Britannia is continuing the price hike it took up in the December quarter. The company is pausing capital expenditure for FY 2025-26, with a limit of Rs 150–200-crore. Britannia is taking on this strategy to protect margins. 

HUL repositions Lifebuoy with a skincare focus
Lifebuoy, Hindustan Unilever’s soap brand worth over Rs 2,000-crore in sales, is shifting from germ protection to skin protection. As part of this transformation, the packaging will be upgraded to a more modern and premium design to align with the new positioning. This change, aimed at appealing to consumers seeking advanced skincare benefits, is already being rolled out in select markets. The relaunch included new communication and a significant campaign at the Mahakumbh festival to boost sales.

iPhone exports cross Rs 1-trillion
Apple surpassed Rs 1-trillion in free-on-board export value in the first three quarters of of FY25. The company’s exports grew by 31% during this time, seeing a record export value in January itself, at Rs 19,000-crore.