Paints
Early monsoon, intense competition dampen paint companies' Q1 growth
Leading paint makers faced challenges in the June quarter due to the early monsoon and increased market competition, impacting their earnings. Despite this, companies like Asian Paints and Berger Paints saw sequential improvement, particularly in urban areas, and benefited from price increases. Paint manufacturers anticipate better performance in August and September, driven by an earlier Diwali season.
Berger Paints aiming for Rs 20,000 crore turnover by 2030: CEO
Berger Paints India aims for a Rs 20,000 crore turnover by 2030, driven by growth in decorative paints, construction chemicals, and industrial segments. Despite economic challenges, the company achieved volume growth and improved profitability, holding a 20% market share. Berger focuses on innovation, digitalization, and network expansion, while maintaining stable product prices despite fluctuating raw material costs.
Asian Paints CEO sees steady urban demand, flags tech layoffs
Asian Paints experienced a dip in net profit by 6% during the June quarter. Despite this, sales volume in the decorative business in India grew nearly 4%. Amit Syngle, CEO, anticipates sustained demand in urban markets. The company is closely monitoring the impact of job cuts in the technology sector. Revenue was impacted by product mix changes and subdued demand.
Asian Paints aims to quash CCI probe, saying investigation order mishandled
Asian Paints, facing an antitrust inquiry over alleged abuse of its dominant market position, is contesting the investigation, citing reputational damage. The company argues that the Competition Commission of India (CCI) undermined proceedings by publishing and then deleting allegations against its CEO.
Berger Paints prioritises sustainable growth, focuses on core segments
Berger Paints India Ltd. has affirmed its commitment to customer satisfaction, technological advancements, and innovation amidst increasing competition in the paint industry. Despite macroeconomic challenges, the company reported resilient performance in 2024-25, with growth in total income and profit after tax. Berger Paints is optimistic about future consumer demand and the adoption of digital practices.
Birla Opus becomes third-largest player by revenue in six months of pan-India operations
Birla Opus, Aditya Birla Group's paints venture, has rapidly become the third-largest player in India's decorative paints sector within six months. Grasim Industries highlights this unprecedented achievement, fueled by rising incomes and real estate growth. With significant capital expenditure and commissioned greenfield plants, Birla Opus aims for Rs 10,000 crore revenue within three years, despite industry challenges.
JSW Paints seeks CCI nod to acquire majority stake in Akzo Nobel India for Rs 12,915 cr
JSW Paints is looking to acquire a major stake in Akzo Nobel India. The company has approached the Competition Commission of India for approval. The deal is worth Rs 12,915 crore. This acquisition will make JSW Paints the fourth-largest paint company in India. The deal includes an open offer to public shareholders.
IPR violation: Supreme Court upholds Asian Paints right to appeal as 'victim'
The Supreme Court has ruled that companies can be considered victims under the Code of Criminal Procedure, allowing them to appeal acquittal orders in cases like intellectual property rights violations. This decision overturned a Rajasthan High Court ruling, enabling Asian Paints to challenge the acquittal of an individual accused of selling counterfeit products.
Asian Paints sells entire 4.42% stake in Akzo Nobel India for Rs 734 cr
Asian Paints Limited divested its entire 4.42% stake in Akzo Nobel India Limited on Wednesday, selling 20,10,626 equity shares at Rs 3,651 per share. The bulk deal amounted to approximately Rs 734 crore, marking Asian Paints' complete exit from its investment in Akzo Nobel India. This sale occurs amidst increased activity in the paints sector.
Reviewing CCI order, will take appropriate legal recourse: Asian Paints
Asian Paints faces a CCI probe for allegedly abusing its dominant market position following a complaint by Grasim Industries, which alleges exclusionary practices hindering Birla Opus's entry. The CCI has directed an investigation into these allegations, focusing on potential violations of the Competition Act related to unfair trade conditions imposed on dealers.
Must Watch
Akzo Nobel eyeing for long-term ties with JSW, exploring opportunities in aerospace biz
Akzo Nobel plans a lasting alliance with JSW Paints. The Dutch firm will keep a strong Indian presence. It eyes aerospace and marine coatings. A royalty agreement is in place. Akzo Nobel retains its powder coating business and R&D center. JSW Paints will benefit from Akzo Nobel's technology. Share buyback plans are also underway.
CCI directs probe into Asian Paints for abuse of dominance
The Competition Commission of India (CCI) has ordered an investigation into Asian Paints following a complaint by Grasim Industries (Birla Paints Division). Grasim alleges that Asian Paints is abusing its dominant market position by offering exclusive incentives to dealers and threatening those who stock Grasim's paints. The CCI believes there is a prima facie case of anti-competitive practices.
The inside story of how Parth Jindal came from behind to win the biggest prize of his career: Akzo Nobel India
Parth Jindal and JSW Paints acquired Akzo Nobel NV's India business after intense negotiations. A last-minute counteroffer threatened the deal, but Jindal matched it. Guillaume, Akzo Nobel's CEO, had prior connections with the Jindal family. The acquisition creates a stronger entity, JSW-Dulux, poised to compete with major players in the Indian paints market.
CCI orders probe against Asian Paints for alleged abuse of dominant position, report to be submitted within 90 days
The Competition Commission of India has initiated an investigation against Asian Paints. This action follows a complaint filed by Grasim Industries of the Aditya Birla Group. Grasim alleges that Asian Paints has abused its dominant market position. The investigation will focus on the decorative paints sector in India. The Director General has been given 90 days to submit a report.
JSW Paints eyes sharp rise in mkt share in decorative, industrial coating segment: Parth Jindal
JSW Paints is set to become a major player in the Indian paint industry after acquiring Akzo Nobel India Ltd, the makers of Dulux paints. This acquisition, valued at approximately Rs 13,000 crore, will propel JSW Paints into the top four, aiming for a top-three position.
Akzo Nobel reveals why it chose JSW Paints, which now aims to take on India’s paint industry giants
Akzo Nobel divested its decorative paints business in India to JSW Paints, citing JSW's local market expertise as the key reason. CEO Greg Poux-Guillaume highlighted JSW's ethics, transparency, and 'firepower' under Parth Jindal's leadership. Akzo Nobel believes JSW can challenge industry giants and aims for the number three spot.
