The 75th anniversary celebrations of Mysore Paints and Varnish Limited (MPVL), a Government of Karnataka enterprise, will be held on Monday (November 28).
Founded by Nalwadi Krishnaraja Wadiyar, the then Maharaja of Mysore, in 1937 as ‘Mysore Lac Factory’, the factory, which was renamed as ‘Mysore Lac and Paints Limited’ in 1947, is the sole supplier of indelible ink for elections in the country. MPVL has been into indelible ink production since 1962.
In 1989, the company was again renamed as ‘Mysore Paints and Varnish Limited’ as it started production of varnish besides paints. Most government departments and institutions, including BEML, BHEL, South Western Railways, R and D institutes like CFTRI and DFRL, KSRTC and others purchase paints from the company.
Chief Minister Basavaraj Bommai is inaugurating the 75th anniversary celebrations at Kalamandira here on Monday at 3 p.m.
MPVL Chairman R Raghu told reporters here on Saturday that a ₹50 crore MPVL modernisation proposal will be submitted to the Chief Minister seeking special grants for reviving the factory, which he claimed was one of the few boards and corporations in the State that were making profits.
As there is a scope for expansion with about 7-acre land available for developing necessary infrastructure and setting up new machines for boosting production of paints, the MPVL is hoping to get funds for taking up production of decorative paints and other products to compete with the private industries, he said.
Last year, the company exported indelible ink worth ₹8.14 crore to various countries. Considering the quality of ink, many countries started relying on MPVL for the supply. The first export of ink was done in 1978-79 and over 25-30 countries get the ink supply as and when required from the Mysuru-based factory.
Mr. Raghu said the MPVL has registered with “government e-marketplace” for e-marketing with the government bodies and agencies. Steps have also been taken for setting up the R and D division besides securing ISI certification for its products and registering with the Association of State Road Transport Undertakings.
In 2021-22, the company earned a revenue of ₹32 crore and the profit was ₹6.80 crore. A 30 per cent dividend will be given to the shareholders besides the State’s share of ₹28.40 lakh, said MPVL Managing Director Kumarsawamy.
