Page 2 - Paint Companies

Berger Paints eyes 5% value growth in Q2, targets doubling turnover by 2029

Coating major Berger Paints India Ltd has implemented three price hikes since June, which are expected to boost its 'value' growth to around 5 per cent in the second quarter ending September 2024, while maintaining a volume growth target of at least 10 per cent, an official said on Monday. Speaking after the company's 100th AGM, Berger revealed that its next milestone is to double its turnover to Rs 20,000 crore by 2029, up from Rs 10,000 crore in FY2024. The company also plans to close down the Howrah plant and convert it into a larger R&D centre by the end of 2025, once the greenfield Panagarh facility in West Bengal becomes operational. "We achieved a volume growth of 11.8 per cent in Q1 of FY2025, but value growth was just 2.5 per cent due to factors like price decreases, reduced raw material costs, and a slowdown in the luxury paints segment in West Bengal and Kerala. "The three price hikes between June and August will improve and mitigate the cost impact of 1.5 per cent, ...

JSW Paint turns profitable; aims for Rs 5,000 crore sales in two years

JSW Paints crossed Rs 2,000 crore in revenue from operation in FY24 and logged its first operating profit in five years of inception, a top company official said on Thursday. The JSW Group firm, which aims for Rs 5,000 crore revenue in the next two years, is expanding its retail presence in the home decorative business and adding more products in the industrial coating business, company's Joint Managing Director & CEO Sundaresan AS said. "We have been able to achieve operating breakeven this year (FY24)," Sundaresan told PTI. JSW Paints, which is among the new entrants in the fast-growing Indian paints industry, is aiming "to grow much faster than the market". "We aim to keep growing anywhere from 5 to 10 times the market growth. In the current year (FY24), We have grown 10 times the rest of the industry," he said adding that JSW Paints is bringing new products into the market, expanding its reach and network and continuing to invest in building the brands. Asked about JSW Paints'

Grasim Industries secures Rs 1,250 cr from International Finance Corp

The investment by IFC, World Bank's private sector arm, will be in the form of a subscription to non-convertible debentures (NCD) issued by Grasim

TMS Ep638: Paint industry, FDI in space sector, markets, Bitcoin halving

What's attracting big players to paint industry? Can liberalised FDI make India a space superpower? Will Bitcoin extend its rally post the halving event? How does Bitcoin halving work? Answers here

Analysts positive on Grasim's prospects due to launch of paints division

Management guidance was that the VSF margin is stable. Even though caustic soda price is down, global prices are likely to bottom soon

JSW Paints Q3 result: Revenue at Rs 1,500 cr; may become profitable in FY24

JSW Paints, an unlisted entity of diversified conglomerate JSW Group, on Tuesday said its revenues touched Rs 1,500 crore in the first nine months of FY24 and is confident of turning profitable in the current fiscal. The company is aiming to close FY24 with a topline of over Rs 2,000 crore, as per an official statement. JSW Paints also added that it is confident of turning profitable in FY24. It had closed FY22 with a Rs 1,000 crore revenue. The paints category has seen mega investments by conglomerates including the Sajjan Jindal-led JSW and also the Aditya Birla Group. The sector has been long dominated by companies such as Asian Paints. In the statement issued on Tuesday, the company said it is confident of achieving the next Rs 1,000 crore of revenue in a shorter time period. Managing director Parth Jindal said the company has achieved the Rs 2,000 crore yearly revenue run rate quickly after launching water-based offerings. The company said it is adding 2,000 retailers every

Asian Paints needs fresh coat as margin pressures build up in markets

As competition intensifies, brokerages turn pale on paint maker's stock

Asian Paints Q3 PAT rises 35% to Rs 1,448 cr, net sales at Rs 9,103 cr

Its decorative and industrial coatings business saw a combined value growth of 6.1 per cent, with a strong double-digit industrial coatings value growth

Nippon Paint announces acquisition of VIBGYOR Paints and Chemicals

After the acquisition, VIBGYOR Paints and Chemicals will become a division of Nippon Paint India, leveraging its resources and reach to further its growth and market leadership

Rising costs, competition leave paint sector in need of fresh coat

Festival season may add vibrant strokes to volumes, but margins remain a blank canvas

Analysts see rich valuations for paint, tyre stocks; time to book profit?

Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex

Paint companies to log 10-12% growth in revenue this fiscal: Report

Continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent revenue growth this fiscal against an 18 per cent estimated rise in the just-concluded fiscal, according to a report. Volume expansion and the resultant cash generation will help paint companies maintain healthy balance sheets, which will also buffer credit profiles despite the rising capex, Crisil said in a report on Wednesday. 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. Paint companies are likely to close FY23 with a robust 18 per cent revenue growth, primarily led by higher realisations on the back of a 6 per cent price hike during the year, along with the full impact of a 20 per cent price hike ...

Paint industry could see further downsides on demand, competitive pressures

Q3 could see weak volumes; hurdle for incumbents is new entrants in the sector

Berger Paints India eyes Rs 20,000 crore turnover in the next 5-6 years

The company was scouting for a 40-50 acre-plot in Odisha, says Abhijit Roy, MD and CEO, Berger Paints

Housing, infra push drives industrial majors into Rs 60,000 cr paints biz

JK Cement latest entrant after JSW, Grasim, Astral Pipes and B2B marketplace Infra.Market; move aimed at driving synergies, leveraging distribution network, say experts

Easing raw material prices likely to aid margins of Asian Paints

Sales performance in the festival season was muted; volumes expected to recover

Near-term margin concerns an overhang on Kansai Nerolac Paints' stock

Higher advertising costs and demand worries could put pressure on profitability

Demand recovery a rosy picture for paint companies in Apr-Jun quarter

Listed paint companies could report over 30 per cent revenue growth year-on-year (YoY), aided by double-digit volume growth in decorative paints and cumulative gains from pricing action

Demand recovery unlikely to offset margin pressures for paint companies

Companies to post double digit volume growth in the quarter

Kamdhenu demerges paints biz; to list new entity Kamdhenu Ventures in Q2

Post demerger, Kamdhenu Ltd will continue to focus on steel business, while Kamdhenu Ventures Limited will expand the paints business