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Paint Companies/Manufacturers(Asian,Nerolac,Berger) in India List – Double Digit Secular Growth makes for High Valuation

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INTRODUCTPaint Industry in IndiaION

In early days, painting your home would mean buying paint and putting it on the walls without worrying about anything else but in today’s world, Painting would just not mean simply coloring your house. It comes with a long list of added functionality, which makes it even more better. The modern day paints have additional functions like – Being Very durable, Glow finish, Covering hairline cracks, Fighting fungus, Giving a rich sheen, Dirt Resistance, keeps your home u cool, repelling water, water proof, extra tough, glossy finish for metals & many more.

Paint Segments
The paint industry worldwide is classified into two segments – decorative and industrial segment. Asian Paints has a Market share of 31% followed by Nerolac with 16%. Automotive Paints is another segment which has undergone a major revolution since the past three decades in India. The paint technology for automobiles has undergone a complete transformation. Kansai Nerolac been in forefront to introduce new technologies in automotive sector in India from time to time & is one of the top five manufacturers in the world.

The Indian Paint Industry is growing by a  healthy double digits boosted by the growing economy and the strongly growing construction industry.It is also powered by the rising aspirations as people look for more value added products.The industry is also defensive in nature as people don’t crimp on painting despite economic ups and downs.The auto industry in India is also growing at a rapid pace making the paint industry a great place to be.The Paint Industry commands a premium valuation in the Indian Stock Market just like the FMCG Companies in India which also have very high p/e valuations.


ASIAN PAINTS – Asian Paints is India’s largest paint company. With turnover of Rs.77.06 billion it is the third largest paint companies in Asia. It is ranked among the top ten Decorative coatings companies in the world. Asian Paints along with its subsidiaries have operations in 17 countries across the world with 23 paint manufacturing facilities, servicing consumers in 65 countries. The Profit (after tax) for the year ended March 2011 was Rs.775 crores.
Today it is double the size of any other paint company in India. Asian Paints manufactures a wide range of paints for Decorative and Industrial use.In Decorative paints, Asian Paints is present in all the four segments v.i.z Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wood Finishes. It also introduced many innovative concepts in the Indian paint industry like Colour Worlds (Dealer Tinting Systems), Home Solutions (painting solutions Service), Kids World (painting solutions for kid’s room), Color Next (Prediction of Colour Trends through in-depth research) and Royale Play Special Effect Paints, just to name a few. Internationally the group operates as:

  • Asian Paints in South Asia (India, Bangladesh, Nepal and Sri Lanka)
  • SCIB Paints in Egypt
  • Berger in South East Asia (Singapore), Middle East (UAE, Bahrain and Oman), Caribbean (Jamaica, Barbados, Trinidad & Tobago)
  • Apco Coatings in South Pacific (Fiji, Tonga, Solomon Islands and Vanuatu)
  • Taubmans in South Pacific (Fiji and Samoa)

Asian Paints has always been ahead when it comes to providing consumer experience. It has set up a Store in Mumbai where consumers are educated on colours and how it can change their homes.

NEROLAC PAINTS – Kansai Nerolac Paints Ltd is a subsidiary of Japan based Kansai Paint Company Limited, which is one of the top ten coating companies in the world. The company manufactures a diversified range of products for every surface. It is the second largest coating company in India and the market leader in Industrial coating. Nerolac paints as it is known popularly is an established brand in decorative paints. The profits for the year ended March 2011 was around Rs.205 crores. The product range includes Decorative & Automotive Paints, General Industrial & High Performance Coatings, Powder & Speciality coatings. The most popular product range are:

1) Decorative Paints

  • Interior – Impressions 24 carat premium emulsion, Impressions Metallic Designer Finish, Impressions Disney Special, Beauty Gold Acrylic emulsion washable smooth finish, Beauty Flexi Stretchable Emulsion
  • Exterior – Excel Total All in one Protection emulsion, Excel Anti Peel emulsion, Suraksha Anti Algal Exterior Emulsion, Suraksha Plus with Colour lock technology, Suraksha superior protection emulsion
  • Wood – Wonderwood :Mel mine, 2 KPU, 1 KPU
  • Metals – Hi performance enamel, satin & synthetic enamel.

2) Automotive Paints– Through its various strategic collaborations, Kansai Nerolac offers a total painting system to auto makers in India with a range of products, starting from Pretreatment Chemicals, Electro Deposition Primers, Intermediate Coats/primer Surfacers, Solid & Metallic Top Coats, Clear Coats & Touch-up Paints. The products are approved by most Global Auto Majors.

BERGER PAINTS – with turnover of Rs. 2000 crores Berger Paints has it’s majority stake holding with Delhi based Dhingra brothers. It started as a small paint company in Kolkata to produce ready mixed stiff paints, varnishes and distempers. The company today, manufactures and markets a range of decorative & industrial paint products under various product brands and has it operations spread throughout the country; with seven manufacturing facilities in India and more than 82 depots, several regional & area offices, besides four facilities overseas. It has a workforce of over 2300 employees and a countrywide distribution network of 12000 plus dealers. It has been serving the Indian consumers for over 85 years, by offering its varied range of high performing quality products backed by highest level of customer service.
The product range includes:

1) Interior Wall Coatings :

  • Interior Emulsions – Silk, Breathe Easy, Rangoli Easy Clean, Rangoli Super Acrylic Emulsion, Bison Acrylic Emulsion.
  • Designer Finishes – Illusions, Illusions Imagine, Metallica, Marble
  • Distempers – Bison & Jadoo Acrylic distemper.

2) Exterior Wall Coatings :

  • Exterior Emulsions – WeatherCoat – All Guard, Smooth, Longlife, Tile Protektor, Walmasta
  • Exterior Wall Primer – WeatherCoat – Biowash, Exterior Wall Primer
  • TextureFinishes

3) Berger Metal & Wood Paints :

  • Enamels – Breathe Easy, Luxol Satin, Luxol High Gloss, Berger Buterfly GP & Jadoo Enamel.
  • Clear Wood – Wood keeper PU Legend, Premier Wood Coatings from Becker Acroma Italy, 2 Pack PU System, 3 Pack Polyester Coating

DULUX PAINTS – is a brand from Akzo Nobel. AkzoNobel India (previously known as Imperial Chemical Industry India) manufactures and markets paints, specialty chemicals and starch. It is the largest global paints & coatings company. In 2008, Akzo Nobel N.V., became the owner of the entire equity share capital of Imperial Chemical Industries Ltd. The product range includes:

  • Interior Wall & Ceiling Finishes – Magik Smooth & Acrylic Finish, Dulux Velvet Touch & Dulux Super Smooth
  • Exterior wall finishes & masonry – includes Dulux WeatherShield range – Max, Ultraclean, Clear, Tex, Dulux TileShield, Dulux Promise.
  • Wood & Metal Paints – Dulux Satin Finish, Dulux Supergloss 5in1, Dulux Gloss
  • Wood Finishes & Undercoats.

Internationally it is present in Australia and New Zealand, where it has been involved with the manufacture and marketing of paint and related systems in since 1918. It is the largest manufacturer of paint products in Australia.

SHALIMAR PAINTS – Shalimar Paints is one of the leading paints manufacturing companies of India. It has three manufacturing units and more than 54 branches and depots all across the country. The Company has a wide product range in both Decoratives and Industrial sectors.
1) Decoratives have : key product range, Hussain collection & other products.

  • The key product range includes – Superlac Hi Gloss synthetic enamel, Xtra Premium 100% Acrylic exterior finish, Superlac Acrylic Emulsion, Shaktiman Exterior Acrylic emulsion, No.1 Premium Acrylic Distemper.
  • The Husain Collection – Premium Acrylic Emulsion.
  • The other products include synthetic enamel paints, interior wall finishes, cement paints, wood finishes, aluminium paints, putty, primers, multi purpose varnishes, wood polishes, dry colours & road marking paints

2) Industrial – The Company has been a pioneer in the Industrial Paint Segment because of it’s association with multinational giants like Pinchin Johnson Co. and International Paints PLC of the U.K. The company exercises expertise in manufacturing and marketing of high performance industrial coatings, Aviation coatings, marine paints and coatings for metal decoration and food can lacquers.

The Company also has tinting systems under the brand name “Color Space” where the Company offers more than 9000 shades across all product lines to its customers.

SNOWCEM PAINTS – is the leader in exterior water proof cement paints. The company suffered financial crisis for a certain period of time, but since the construction boom in the country, it has regained its position. The most popular product is the Powder Paints, since the company very much relies on water based paints. Its product range includes Impermo, Hardcrete, Cemprover, Cemix, Snowfilla, Snowsol, Sandtex Matt, Snowcryl XT, Impermo, Uni-gloss, Trump – smooth exterior emulsion paint, Snowplast – acrylic finishing plaster for interiors & SnowDecor – range of texture finish products.


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

4 Responses so far | Have Your Say!

  1. purna

    asian paints is the best..

  2. avishek

    yes purna is right.

  3. Rajeev Harshan

    I Am From Kerala. Its a humble request, can you guyz try to make some wooden style paints… Am just saying…an opinion, don’t thing anything wrong about it…

  4. Binu Joseph

    It is a short description about paint companies. I would like to know, which paint company offers better paint for terrace leaking problem