Before we look at the Top Paint Companies in India, let's have a look at the Indian Paint Industry. The domestic paint business is projected to be worth Rs 50,000 crores, with decorative paint accounting for over 75% of the total market. The decorative paint industry is divided into several categories based on the nature of the surface, such as interior wall paints, wood finishes, external wall paints, enamels, and supplementary items such as primers and putties. Marine coatings, Automotive coating, packaging coatings, protective coatings, powder coatings, and other general industrial coatings all fall under the industrial paint category, which accounts for the remaining 25% of the paint market. We will now have a look at the best paint manufacturers in India.
Top Paint Manufacturers in India
Unorganized players continue to account for 30 to 35 percent of the domestic paint business. The following is a list of the top paint companies in India, organized by total sales.
1. Asian Paints Ltd:
Asian Paints, which was founded in 1942, is India's largest and Asia's third-largest paint manufacturers, with a revenue of Rs 193.50 billion. It was founded as a partnership by four friends who wanted to compete with the world's largest and most well-known paint businesses functioning in India at the time. Asian Paint is one of India's greatest paint brands. Asian Paint is India's largest paint business. Since 1967, the firm has been the industry leader in paints. It is now twice as big as any other paint firm in India. Asian Paints produces a wide range of ornamental and industrial paints. Asian Paint is India's largest paint manufacturer. The company has 26 paint manufacturing plants across the world and serves customers in more than 60 countries. The firm is ranked first among top ten paint manufacturers in India.
- Total Sales: Rs 22,044 Cr
- ROE: 23.98 %
- Sales Growth (3Yrs): 10.66 %
- Promoter holding: 52.79 %
- Debt to equity: 0.03
- Price to book value: 16.56
2. Kansai Nerolac Paints Ltd:
Gahagan Paints and Varnish was founded in Lower Parel, Mumbai, in 1920. This paint company remains in an advantageous position a century later. It is one of the industry's most trusted names. Kansai Nerolac is India's second-biggest coatings firm and the industry leader in Industrial Coatings. SRK was named Nerolac's brand ambassador after the claim of the best paint for walls in India. GNPL was the first firm in India to implement this technology.
- Total Sales: Rs 5793 Cr.
- ROE: 13.38 %
- Sales Growth (3Yrs): 12.92 %
- Promoter holding: 74.99 %
- Debt to equity: 0.05
- Price to book value: 7.89
3. Berger Paints India Ltd:
It is based in Kolkata which has got 16 strategically situated manufacturing plants, two in Nepal, one each in Poland and Russia, and around 162 stock locations. In addition, the firm has a presence in four other nations (Bangladesh, Nepal, Poland, and Russia). Berger Paints India Limited is India's second-largest paint company, with a reputation for being one of the nation's fastest-growing. With a countrywide distribution network of above 25,000 dealers and over 3450 workers (excluding subsidiaries). By turnover, the company is the second-best paint for walls in India. Hadfield's (India) Limited was founded in Howrah, West Bengal, with just one factory. British Paints (Holdings) Limited, UK, bought Hadfield and renamed it British Paints (India) Limited before the end of 1947. In 1983, the firm was renamed Berger Paints India Limited. The Dhingra brothers, who are located in Delhi, currently own the controlling interest.
- Total Sales: Rs 6,869 Cr
- ROE: 21.00 %
- Sales Growth (3Yrs): 12.80 %
- Promoter holding: 75.00 %
- Debt to equity: 0.40
- Price to book value: 18.9
4. Indigo Paints:
Indigo Paints began as a small business in the year 2000. It started with low-cost Cement paints and then it began to expand its product that covers most kinds of liquid paints, like Interior Emulsions, Exterior Emulsions, Primers, Distempers, etc. Since its establishment, the Company has grown its footprints across India due to the rapid expansion of its reach. Today, the firm is considered one of the most powerful rivals in the Indian paint market, with a reputation for being a creative paint manufacturer that continues to offer unique products not before offered in India. Through innovation, the Company eventually discovered its place in the paint sector. It continued to pump out brilliant new painting solutions with startling regularity. Gradually, the industry came to see the Company as a forerunner of innovative product creation and a futuristic thinker. Indigo Paints updated its logo to reflect changing times and trends, showing the company's new way of thinking. A few years ago, it merged under the brand called "INDIGO."
- Total Sales: ₹ 726 Cr
- Dividend Yield: 0.00 %
- ROCE: 24.6 %
- ROE: 18.6 %
- Face Value: ₹ 10.0
- Promoter holding: 54.0 %
- Debt to equity: 0.02
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5. Akzo Nobel India Ltd:
AkzoNobel India has been operating in India for more than 60 years. It is a reputable paint and coatings company. The company works in India from five different sites, having offices and warehouses all across the country. Akzo Nobel is the most popular paint brand in India. AkzoNobel NV purchased Imperial Chemical Industries Ltd., the company owned by ICI India Limited, through a plan of arrangement under section 425 of the UK Companies Act 1985. In 2012, there were an additional three AkzoNobel Group firms that operated in India were amalgamated. The chemicals division was spun off in 2018, leaving the firm only focused on paints and coatings.
- Total Sales: Rs 2,842 Cr
- ROE: 15.97 %
- Sales Growth (3Yrs): 3.40 %
- Promoter holding: 74.76 %
- Debt to equity: 0.07
- Price to book value: 7.93
6. Nippon Paint (India) Private Limited:
Nippon Paint is a Japanese paint manufacturer with over 138 years of expertise. The number one paint maker in Asia and one of the world's top paint manufacturers. Nippon Paint India ranks fifth among India's top ten paint firms. Over 500 crores in sales Nippon Paint was Japan's first paint manufacturing company, founded in 1881 by brothers Haruta and Jujiro Moteki as 'Komyosha'. Nippon Paint is the sole paint solutions provider for all types of surfaces, with headquarters in Osaka (Marine, Auto, Protective, Industrial and Decorative Paints). In several criteria, Nippon Paint India is the top paint brand in India.
7. Shalimar Paints Ltd:
The Shalimar Paint Color and Varnish Company were founded in Howrah in 1902. In 1902, Shalimar Paints established the first large-scale production factory in South-East Asia in Howrah, West Bengal. In 1992, the business opened its second production site in Nashik, Maharashtra, to serve the Western area as it expanded its influence across India. A third production plant of Shalimar Paints was opened in Sikandrabad in 2002, Uttar Pradesh. Shalimar quickly became the most popular paint brand in the country. Shalimar Paints are still used on India's prominent landmarks including Howrah Bridge, Rashtrapati Bhavan, Vidyasagar Setu, and Salt Lake Stadium. The company pioneered marine paints, aircraft coatings, and the painting of thermal power plants thanks to access to cutting-edge technologies in the industrial coatings industry.
- Total Sales: Rs 332 Cr
- ROE: -29.76 %
- Sales Growth (3Yrs): -9.17 %
- Promoter holding: 53.10 %
- Debt to equity: 0.45
- Price to book value: 1.40
8. Dulux Paints Ltd.:
Dulux is an Indian-based worldwide paint company that specializes in architectural paints. The company was founded in the United Kingdom by AkzoNobel. The firm also produces decorative and industrial paints with distinctive designs and themes. There are around 2,000 colors in 60+ tones to choose from. Dulux Canada was bought by PGG, an architecture business. The paints are available in a variety of colors and textures to match a variety of architectural styles. Their paints are of high quality, have a long adhesion duration, and are resistant to germs. Dulux Trade Vinyl Matt, one of the company's most popular products, has helped it become one of India's most popular paint companies. Products available:
- Wall paints
- Metal paints
- Wood paints
- Wall textures
- Tile guards
9. Sirca Paints India Ltd:
When Sircolor Wood Coatings Private Limited was originally formed in New Delhi on January 19, 2006, it marked the start of an extraordinary journey. Sirca Paints India Limited is the name that appears at the end of the voyage. Sirca is one of the leading wood coatings companies in northern India today. In being certain, every product at Sirca is backed by research and designed to fulfill the market's different needs. Sirca wants to successfully decorate one's most cherished property, their house, using long-lasting coatings. They promise to provide high-quality products as per client’s requirement.
- Total Sales: ₹ 157 Cr
- ROCE: 11.3 %
- 5Y Avg ROE : 26.6 %
10. Sheenlac Paints:
Sheenlac Paints is a Chennai-based Indian paint manufacturer. Paints, thinners, and wood polishing solutions for decorative and industrial uses are manufactured and distributed by the company. It began as a tiny firm producing thinners and wood polish supplies but has now grown to over three sites and become one of India's leading paint producers. It has approximately 2,000 distinct sorts and tones of paint hues. Sheenlac Paints' creator, Peter, envisioned and founded the company to exceed consumer expectations via creative and high-quality products. The word, Sheenlac is the combination of the terms "sheen" which means lustre and the meaning of "lac" is lacquer. Sheenlac Paints has experimented with new approaches, such as packaging goods in HDPE bottles, demonstrating its leadership in the industry. This was the first time a previously unorganised and unbranded thinner and polish business was organised and branded. Products available:
- Wall paints
- Metal paints
- Wood paints
- Wall textures
- Tile guards
Conclusion
The firms listed above are among India's top paint producers, constantly providing world-class innovation and quality at reasonable rates. More significantly, they continue to employ a considerable number of Indian nationals. They have created an imprint on the worldwide market that won't be forgotten anytime soon.
FAQs: Paint Manufacturer
Q. Who is India's largest paint manufacturer?
Ans. By revenue, Asian Paints is India's largest paint company.
Q. What is the world's largest paint manufacturer?
Ans. PPG Industries, Inc., based in the United States, is a Fortune 500 company that produces coatings, paints, and specialty materials all over the world. PPG is based in Pittsburgh, Pennsylvania, and operates in more than 70 countries across the world. In terms of revenue, it is the world's largest coatings company.
