Berger Paints Aiming For Rs 20,000 Crore Turnover By 2030, Says CEO
Despite rising costs of some raw materials, Berger has no plans to increase product prices, as softer prices of other input components balance the impact.
Berger Paints India Ltd., the country's second-largest paint manufacturer, is aiming to achieve a turnover of Rs 20,000 crore by 2030, a top company official said on Tuesday.
Addressing shareholders at the company's 101st Annual General Meeting, managing director and chief executive officer Abhijit Roy highlighted Berger's resilience in navigating economic slowdown and increased competition last year, achieving over 7% volume growth and improved operating profit.
The company now holds a 20% market share in the organised paint segment. The takeover of Akzo Nobel's coating business by JSW will not have an impact on us, he told reporters.
"We continue to gain market share and improve profitability, showcasing our strength. Our ambition is to reach Rs 20,000 crore by 2030," Roy said, emphasising opportunities in decorative paints, construction chemicals, and industrial segments.
The company is focusing on innovation, rapid digitalisation, and network expansion in urban markets.
Berger has secured the number three position in the fast-growing construction chemical and waterproofing segment, outpacing most competitors, while maintaining leadership in protective coatings and general industrial segments, buoyed by India's infrastructure growth and 'Make in India' initiatives.
Despite rising costs of some raw materials, Berger has no plans to increase product prices, as softer prices of other input components balance the impact.
"We are closely monitoring demand and input prices, with the demand scenario remaining mixed in different pockets of the market," Roy added.
The company anticipates another year of strong growth with expansion of distribution network, leveraging its robust market position and strategic initiatives, he said.
