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Berger Paints upbeat on Russia unit after World Cup contracts

Press Trust of India  |  Kolkata 

Buoyed by contracts for three venues and two airports in Russia, Berger Paints is hoping to double its topline in the this year, a company official today said.

"was not getting much attention. In the last year, the Russian unit's topline was just Rs 7-8 crore. But, the order for the three venues and two airports will help the turnover reach Rs crore in the current fiscal," said here today.

He claimed that an in-house silicon based coating technology, developed some four years ago, was behind winning of the latest orders in

"We are in the process of setting up a team for the Russian company and also scouting for acquisitions if the opportunity comes through," Roy said.

In the ongoing held across 12 stadiums in Russia, won contracts for three venues -- Rostov Arena, and Kaliningrad.

Berger's overseas business is generated from Nepal, and With Rs 450 crore, the contribution from its overseas business accounts for about 10 per cent of Berger's total revenues.

Berger is open to acquisition of firms in a range of Rs 70-200 crore offering distribution and brand strength, Roy said.

"Currently we are only present in decoratives but now we will move into industrial coatings. We will begin direct exports and over the next two years production in Russia could comnence," Roy said.

Roy said the company is also open to inorganic growth on its home turf.

In India, the will be the largest location site for Berger with installed capacity of two lakh tonne per annum in phases that would entail an investment of Rs 400 crore.

Roy, who is also the of Indian Paints Association, urged government to reduce the Goods and Services Tax (GST) to 18 per cent from 28 per cent to spur growth and reduce losses of the paints industry.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 13 2018. 19:15 IST