Berger Paints aims three-year revenue of Rs 10,000 crore

30 Aug 2021 CW Team

Berger Paints, the country's second-largest decorative paint manufacturer, plans to reach a consolidated turnover of Rs 10,000 crore when it celebrates its 100th anniversary in three years.

It generated a turnover of around Rs 6,800 crore in FY21.

Though Berger is expanding its international presence, the Indian market will be the primary driver of growth, with the decorative, protective, and construction chemicals segments serving as the primary drivers.

According to Abhijit Roy, managing director and chief executive officer of Berger Paints, it's doable. Berger will celebrate its 100th anniversary in 2023-2024, with a target of Rs 10,000 crore in revenue.

Berger has raised its prices in response to rising raw material costs. Since May, the company has implemented a series of price increases, the most recent of which is set to take effect on September 1. Berger's first-quarter standalone net profit was Rs 135.09 crore, down from Rs 184.69 crore the previous quarter.

Berger is banking on three big opportunities to meet its turnover target on the business side. Berger is looking to fill distribution gaps in the decorative segment, which is its core competency.

Bolix will drive the international expansion of the company, which will primarily focus on external thermal insulation coatings. It has already appointed distributors in France and Switzerland as part of its expansion strategy.

Bolix Europe now controls Russia, Poland, the United Kingdom, and, eventually, France and Switzerland, according to Roy.

Berger acquired Bolix SA, a leading provider of external insulation finishing systems, in Poland in 2008. Berger's entry into the European Union market was marked by this acquisition.

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Also read: Kamdhenu Group to invest Rs 200 cr to expand paint business

Also read: Berger Paints Q1 results: Net profit at Rs 140 crore

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