I think no sector will escape competition, from Birla’s or even established players like Asian Paints. Asian Paints will try to enter new areas to maintain growth trajectories.
I believe the era of monopolies or quasi-monopolies in India is over… It will be just like the West where every percentage of market share is fought for. Consider FMCG sector where everyday new companies are born and targeting small silver of the biggies marketshare.
So whats the plus point is they are also innovating, getting into new areas of spec adhesives where application and R&D is more involved. Good point is the share price and company is at an interesting juncture.