Berger Paints plans to commission by September this year two units — one for decorative paints and the other for automobile paints.
“The plant at Hindupur in Andhra Pradesh will go on stream this August, while the one at Jejuri near Pune will be commissioned this September,” Managing Director and CEO Abhijit Roy told shareholders at the company’s annual meeting here on Friday. The company had invested Rs.140 crore at Hindupur and Rs.40 crore at the Jejuri plant. While the Hindpur unit would make decorative paints, the Jejuri unit would make paints for automobiles. Mr. Roy said the company was enjoying second position in the paints business with a market share of 19 per cent.
He said the company was looking at various geographies across the country either to buy out units or set up greenfield plants, particularly in Southeast Asian countries.
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The company said that it was looking at both organic and inorganic growth for expansion.
The company is looking at a revenue growth of 15-20 per cent in the current fiscal.
The buy-out of Sherwin Williams’ decorative paints business in Mumbai was a good fit in the company’s portfolio.
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However, a possible buy-out of the Howrah unit of Shalimar Paints was not on Berger Paints radar now, the company said.