This company’s net profit has grown at a CAGR of 15.9%
Paint

This company’s net profit has grown at a CAGR of 15.9%

Customer-centricity has always been this company’s strength. Berger Paints is a world-class paint manufacturer with a significant role in the future of the Indian paint market. The company’s protective coating division has dominated and established its leadership in the heavy-duty protective ...

Customer-centricity has always been this company’s strength. Berger Paints is a world-class paint manufacturer with a significant role in the future of the Indian paint market. The company’s protective coating division has dominated and established its leadership in the heavy-duty protective coating segment for decades. Sanjay Chowdhury, Vice President & Business Head, Protecton, Berger Paints India, shares more with CW. How do you view the current opportunities for the Indian paint industry? Infrastructure is booming with many government initiatives on the upswing, which is helping the paint industry grow in line with the cement and steel sectors. The market size and share remain the same between decorative architectural coatings and industrial protective coatings. This share is likely to get tilted towards protective coatings.Though the proportions are not going to reverse, there will be a sizable growth in the protective coating segment this decade. How have innovation and ensuring a customer-centric approach helped you position the company among the fastest growing? It is important to mention the ever-aggressive R&D team.They have always geared up to our expectations in finding alternatives to certain raw materials – for the past year this was the biggest challenge with frequent and steep increases that that affected the gross margins. We were able to keep pace with customer specifications and ensure project costs did not go out of proportion, which ensured continuing business even in difficult times. Please introduce us to the company’s most recent innovative offerings for building and architectural needs. Some select products from our architectural segment include the launch of an innovative exterior paint designed using PU andsilicon technology with elastomeric property; the paint has superior mechanical properties such as high elasticity and has superior water repellence. It is designed to withstand extreme weather conditions, is pollution-resistant and protects exterior surfaces from rain, heatand dust. It also comes with a 15-year warranty. The next product line of innovation was in the waterproofing segment with initiatives to offer tailormadesolutions with our experts attending to individual needs. Wall, roof and deck waterproofing with scientific analysis and proven coating systems and guaranteed services have served as a boon to customers to make informed choices while they protect their assets. How has the Protecton range been performing in India and globally? Protecton has been the feather in the cap of Berger as it has always produced quality sales with a growing customer base and loyalty. The highly trained professional staff are always at the service of industries and consultants to bringcoating specifications in line with international technology and increase the performance benchmark in the industry. The latest of our range of products were with polyurea, polyaspartics with German technology and fluoro polymer with Japanese technology. Many projects and application areas were served with these new product lines, including metro rail, bullet trains and the hydropower industry. How does Berger ensure ‘performance products’ and ‘safety’ in its offerings? When it comes to the safety of a structure, it first means that corrosion should be controlled. Asset integrity management is the fundamental protocol to ensure safety. Performance enhancement with the latest protective coatings ensure that green council regulations are met for all building structures and WRAS certification for products that are in contact with potable water ensure safety of drinking water. Berger has also been working closely with ISRO in the field of fireproof coatings and we shall launcha few products to the general industry to enhance fire safety with new cost-effective technology. As you know, Berger is the only company manufacturing intumescent coating in India, which has the international approval of UL certification. Will more products be added to the Protecton range this year? Protecton has always been introducing newer products with advanced features and has been the forerunner in the industry to set benchmarks. Here again, as explained earlier, the product for fireproofing of duct line is in the final stages of testing and trials and is likely to get launched in the second half of this year. We are also working on light reflective coatings for the tunnel segmentand advanced formulations for watertight concrete structures for both the project and maintenance segments. How is Berger Paints contributing to the PM’s Make in India and Atmanirbhar Bharat? Berger has started indigenous manufacturing of polyurea in the country with German technology. We are the first to have taken to this MakeinIndia initiative for this segment. We are introducing various versions of polyurea; pure, hybrid in hot spray plural applications; polyaspartics in normal airless spray application and special brush-grade polyurea as well for the architectural segment. How has your personal expertise in the paint industry been driving growth in the company? Leadership and drive were the key elementsI brought from my professional expertise to the company and we see a 35 per cent growth from last year, which is the result of a motivated and effective team that has always enjoyed the space and independence to work. We look to expand markets and extend geographies in coming years and our detailed plans and success stories shall be shared in days to come. In terms of topline and bottomline, how did the company perform in 2022? The revenues of Berger Paints stood at Rs 88,264 million in FY22, which was up 28.5 per centfrom the Rs 68,691 million reported in FY21. Over the past five years, the company’s revenue has grown at a CAGR of 14.7 per cent.The net profit of Berger Paints stood at Rs 8,291 million in FY22, which was up 14.3 per centfrom the Rs 7,253 million reported in FY21. Over the past five years, Berger Paints’net profit has grown at a CAGR of 15.9 per cent.

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