The $13 billion Sajjan Jindal-led JSW Group, operating in the core sectors of steel, energy, cement and infrastructure, is entering into paints business in India with JSW Paints.
Claimed to be the first Indian conglomorate to enter into the paint business in the country dominated by domestic major Asian Paints, Kolkata-based Berger Paints or Japanese major Nippon, JSW Paints will manufacture and market both industrial coatings as well as decorative paints. In industrial coatings, JSW Paints commences operations with coil coatings and in the decorative paints segment, the company will offer a complete range of only water-based paints for interior and exterior walls, wood and metal, officials said at a press conference in Mumbai.
We are taking a path-breaking step to offer ‘Any Colour at One Price’ in a product, for the first time in India and our Colourvista is a curated portfolio of over 1800 shades and one of the widest and best researched colour ranges in the Indian market,” said Parth Jindal, Managing Director of JSW Paints. “Our ‘Any Colour One Price’ ensures consumers great value, ushers price transparency and makes them free to choose colours confidently for their homes,” said A S Sundaresan, joint managing director and CEO of JSW Paints.
Officials said the company has set up India’s largest and fully automated coil coatings facility with an annual capacity of 25,000 kilolitre (KL) and state-of-the-art fully automated only water-based decorative paints plant in India with 100,000 KL annual capacity. Both manufacturing units, at Vijaynagar in Karnataka and an industrial line in Vasind in Maharashtra set up at over Rs 1000 crore are ZLD (Zero Liquid Discharge) units.
JSW Paints commenced its launch in South India from Karnataka (Bengaluru and Hubballi). It expects to complete the rollout in South and West markets by September quarter of FY20 with plans to be a pan-India player within three years. JSW Paints aims to be among top three brands in India by 2025 with a market share of 10 per cent. According to industry estimates, India’s organised paints industry is expected to cross Rs 50,000 crore by value by 2020 with a compounded annual growth rate (CAGR) of 15 per cent.
[“source=businesstoday”]
