Paints
Berger Paints expects margin stability amid rising crude prices
Berger Paints India Ltd, the second-largest paint manufacturer in the country, does not expect a significant impact on its profit margins despite the recent increase in crude oil prices. The company has already covered the current pain with previous price increases and does not plan to further hike prices during the festive season. However, if crude oil prices remain high for a longer period, the company anticipates a potential dip in profits compared to the first quarter.
Asian Paints co-founder Ashwin Suryakant Dani passes away
Ashwin Suryakant Dani, Co-founder and Non-Executive Director of Asian Paints, has passed away at the age of 81. He was a prominent Indian businessman and played a key role in the growth of Asian Paints, the largest paint company in India. Dani served as the Vice Chairman and Managing Director of the company from 1998 to 2009 and continued as a Non-Executive Director and Vice Chairman of the board thereafter.
Grasim eyes paint business entry in Q4 to step up market share fight for Berger, others
Birla Opus: Grasim Industries, the flagship company of Aditya Birla Group, has announced the launch of its paints business called Birla Opus. The company plans to enter the decorative paints segment in the fourth quarter of FY24. Grasim aims to become the second-largest player in the market and has committed to investing around Rs 10,000 crore.
Grasim aims to be 2nd largest player in decorative paints segment: Kumar Mangalam Birla
Aditya Birla group firm Grasim Industries aims to become the second largest player in the paints sector which it considers a "high-potential" growth engine along with its new B2B e-commerce business for construction materials, its Chairman Kumar Mangalam Birla said at the company's AGM on Friday.
Berger Paints aims to double revenue to Rs 20,000cr by 2028-29
Berger Paints is planning to double its revenue to Rs 20,000 crore by 2028-29. To achieve this, the paint manufacturer will have to increase its capacity from 95,000 tonnes per month to 1.6 lakh tonnes per month. It aims to invest Rs 2,700 crore in greenfield and brownfield expansion projects over the next five to six years, primarily funded through internal accruals.
Paints, coatings industry to touch Rs 1 lakh-crore in five years: Akzo Nobel India
The company said the paints and coatings industry encompasses a diverse range of products, with the architectural segment dominating the sector, accounting for 69 per cent on volume basis, and industrial sector the remaining 31 per cent.
Indian paints & coatings industry estimated to grow to Rs one lakh crore in next 5 years
The Indian paints and coatings industry is likely to grow to Rs 1 lakh crore in the next five years from the current Rs 62,000 crore, according to Akzo Nobel India's annual report. Due to softening of raw material prices, the paint industry's margins are also expected to improve. New entrants in the segment such as Grasim Industries, Pidilite, and JSW have increased competition.
Grasim's aggressive paints push may hit sector profits
Grasim has started 'beta-testing' its painting service Sparkle in Mumbai, Pune, and Banglore that is open only to employees of Aditya Birla group and their friends and family, said the brokerage. It said Grasim is eyeing to be the second-largest paint player in India, while JSW is eyeing around 10% market share by FY26.
100 Years in India: Berger Paints crosses Rs 10k crore milestone in its centennial year
Berger Paints, one of India's leading paint manufacturing companies, has achieved the landmark accomplishment of reaching Rs. 10,000 crore in sales in its centennial year, making it the fourth-largest company in Asia and seventh-largest decor paint firm globally. In preparation for celebrating its 100th year in 2023, Berger Paints has pivoted to a contemporary product line-up while maintaining a strong consumer-centric approach and commitment to continuous innovation.
Sajjan Jindal group planning JSW Paints stake sale to private equity funds
JSW Group, which internally values the family-held paints business at around $2 billion, has engaged Axis Capital as an advisor for the transaction and has begun preliminary rounds of discussions with several bulge-bracket global private equity funds, they said.
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Paint companies to log 10-12 pc growth in revenue this fiscal: Report
The top five companies have announced Rs 12,000 crore capex in fiscal 2023 and 2024 on the back of Rs 7,000 crore they incurred in the previous four fiscals. New players are expected to add nearly one-third of the total existing capacity of 4.2 billion litres by fiscal 2025-end, the report added.
Nippon Paint to tap construction chemicals market division
Paint manufacturer Nippon Paint (India) Pvt Ltd would foray into the Rs 12,500 crore construction chemicals market as it eyes to expand the product portfolio, the company said on Saturday.
Inflation now at a manageable level; expect better margins in H2, says Pidilite MD Bharat Puri
The current quarter will have some lag due to the carry forward of some of the high-priced inventory, but the fourth quarter would witness better margins, Puri said.
Asian Paints to invest over Rs 2,650 crore in manufacturing multiple key inputs
The company will be investing Rs 2,100 to set up a manufacturing facility for VAE (Vinyl Acetate Ethylene Emulsion) and VAM (Vinyl Acetate Monomer) in India. The plant will have an installed capacity of 100,000 tons per annum for VAM and 150,000 tons per annum for VAE.
JSW Paints disputes CCI order on Asian Paints, to take "appropriate steps"
The competition watchdog had launched an investigation into possible abuse of market dominant position by Asian Paints based on a complaint by the JSW Group company. Based on the findings of the investigation, CCI issued its order last week where it found no wrongdoing on the part of Asian Paints.
Asian Paints vs JSW Paints: CCI finds no violation of competition law by market leader
In its report dated September 8, the Competition Commission of India (CCI) said it probed allegations of anticompetitive practices against the decorative paints market leader. Upon investigation, it concluded that the actions of Asian Paints were “based on objective criteria and uniformly applicable practice of Asian Paints to protect its business interest.”
