Kamdhenu Group to invest Rs 200 cr to expand paint business

23 Aug 2021 CW Team

The company's Chairman and Managing Director (CMD), Satish Kumar Agarwal, said that the Kamdhenu Group, the Buildings material maker, plans to invest Rs 200 crore in expanding its paint business.

He told the media that the group's objective is to collect a revenue of Rs 1,000 crore from the paints segment in the next five years.

He said that the action would be taken after the demerger of the paints division into a separate entity, and the demerger is predicted to be completed by November-December this year.

Agarwal told the media that they are waiting for the approvals. He thinks the paints business demerger will be completed by November-December and that they plan to invest up to Rs 200 crore to expand it further after that.

The manufacturing plant of Kamdhenu paints is at Chopanki in Rajasthan. It makes stainers, designer paints, waterproofing chemicals, interior and exterior emulsions, colourants, construction chemicals and other water-based speciality products.

Additionally, it outsources medium and low range products such as enamel, distempers and putty from manufacturing units in Uttar Pradesh, Punjab, Rajasthan and Haryana.

The sales of the company were in the range of Rs 200 crore to Rs 225 crore during the last financial year.

Apart from paints, the Kamdhenu Group based in Gurugram also has a presence in making steel.

Satish Kumar Agarwal told the media that the product received a good response from the market, speaking further on Kamdhenu NXT, a TMT brand launched in 2018.

The company has several manufacturing plants across the country under the franchisee model.

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Also read: JSW Paints to set up a new plant, eyes pan-India footprint

Also read: Kamdhenu plans Rs 1,000 cr revenue from paint segment in next 5 years

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