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Berger Paints India Ltd.

BSE: 509480 Sector: Consumer
NSE: BERGEPAINT ISIN Code: INE463A01038
BSE LIVE 15:56 | 21 Jul 252.25 -1.45
(-0.57%)
OPEN

254.75

HIGH

254.85

LOW

250.15

NSE 15:53 | 21 Jul 252.35 -1.40
(-0.55%)
OPEN

254.50

HIGH

255.25

LOW

250.20

OPEN 254.75
PREVIOUS CLOSE 253.70
VOLUME 27961
52-Week high 276.80
52-Week low 178.00
P/E 66.03
Mkt Cap.(Rs cr) 24,493
Buy Price 0.00
Buy Qty 0.00
Sell Price 252.25
Sell Qty 513.00
OPEN 254.75
CLOSE 253.70
VOLUME 27961
52-Week high 276.80
52-Week low 178.00
P/E 66.03
Mkt Cap.(Rs cr) 24,493
Buy Price 0.00
Buy Qty 0.00
Sell Price 252.25
Sell Qty 513.00

Berger Paints India Ltd. (BERGEPAINT) - Company History

Berger Paints India Ltd is the third largest paint manufacturer and the second largest decorative paint player in India. They are offering their customers a variety of innovative painting solutions, decorative or industrial. The company is headquartered in Calcutta and service the market through a distribution network comprising of 75 stock points and above 12,000 paint retailers. They are having their manufacturing facilities in West Bengal, Uttar Pradesh, Pondicherry, Goa, and Jammu & Kashmir. The Company has Technical License Agreements with DuPont Performance Coatings in the area of automotive coatings, Nippon Paint Co Ltd for new generation of automotive coatings, Orica Australia Pty Ltd In the area of protective coatings, TIGERWERK Lack-u.Farbenfabrik GmbH & C. KG, Austria for specialized powder coatings and Nippon Bee Chemical Co Ltd for coating on plastic auto parts and mobile phones. The company was incorporated on December 17, 1923 as Hadfield's (India) Ltd in Kolkata. In December 12, 1947, British Paints Holdings acquired the company and the name was changed into British Paints India Ltd. In the year 1965, British Paints (Holdings) Limited, UK was acquired by Celanese Corporation, USA. As a result, the controlling interest of the Company passed on to CELEURO NV, Holland. In the year 1969, Celanese Corporation sold their interest in the Indian company to Berger, Jenson Nicholson Limited, UK. In December 1983, the company name was changed to Berger Paints India Ltd. From 1983 till date, the company has solely used and developed the name and trademark of Berger and all their other variants in India. The company launched Color Bank tinting system through which the consumer can select form a range of over 5000 colors and which are then made available in minutes. In the year 1997, a new paint manufacturing unit at Pondicherry was commissioned. In the year 1999, Rajdoot Paints Ltd was merged with the company. In the year 2000, the company acquired 100% share in Jenson & Nicholoson Nepal Pvt Ltd which was wholly owned subsidiary of Jenson & Nicholson India Ltd and renamed Berger Jenson & Nicholson, Nepal. During the year 2001-02, the Motors & Industrial paints business of ICI India was acquired through their subsidiary, Berger Auto & Industrial Coatings Limited. During the year 2003-04, a new unit in Jammu started commercial production. Also, the company entered into a joint venture with Principal Financial Group USA, Punjab National Bank and Vijaya Bank for Pension Fund and Insurance Business. Berger Auto & Industrial Coatings Ltd, a wholly owned subsidiary company amalgamated with the company with effect from April 1, 2004 and operates as BAICL Division of the company. The company invested in Berger Cyprus, a company incorporated in Cyprus on February 3, 2005 for the purpose of setting up a paint manufacturing facility in Russia. During the year 2005-06, the company started the commercial production at their new 2400 MTPA powder coating plant in Jammu. In April 2007, the Jammu Resin plant of the Company with a capacity of 9,000 MTPA have commenced their production. The Company has entered into a Joint Venture Agreement with Nippon Bee Chemical Co Ltd, Japan for the purpose of formation of a company for manufacture and sale of coatings for plastic substrates used in automobiles and parts thereof in India. Berger Paints Overseas Ltd in Russia has commenced commercial production in September 2007 at their modern plant in the Republic of Adygeya, with alkyd based and water based paints. The company expanded the capacity in the Goa solvent based paint to 18000 KL per annum. The company is in the process of setting up an automobile paint manufacturing plant with a combined capacity of 24000 MTPA at Jejuri Industrial Estate in Pune. The Company has started preliminary work for expansion of water based paint and resin manufacturing capacity in their existing plant at Rishra in West Bengal and installation of a resin manufacturing plant in Goa. In August 2008, the company acquired Bolix SA (Bolix), a leading provider of External Insulation Finishing Systems (EIFS) in Poland, from Advent International, a global private equity group.