Berger Paints to Commission Two Plants by September

Berger Paints would commission two plants by September this year which would augment its production capacity in the country, an official of the company said.

"The plant at Hindupur near Bangalore will go on stream this August, while the one at Jejuri near Pune will be commissioned this September", MD and CEO of Berger Paints Abhijit Roy told shareholders at the company's AGM here today.

The company had invested Rs 140 crore at Hindupur and Rs 40 crore at the Jejuri plant.

Roy said the company was enjoying the second position in the paints business in the country with a market share of 19 per cent.

He said the company was looking at various geographies across the country either to buy out units or set-up greenfield plants, particularly in south east Asian countries.

Chairman of the company K S Dhingra told reporters that the firm is looking at both organic and inorganic growth for expansion.

The company is looking at a revenue growth of 15-20 per cent in the current fiscal.

He said the buy-out of Sherwin Williams decorative paints business in Mumbai was a good fit in the company's portfolio.

Dhingra said the loss-making unit would be turned around and is expected to fetch a revenue of Rs 100 crore in the current fiscal.

To a query, Dhingra said, "Acquisition of the Howrah plant of Shalimar is not on our radar."