The domestic paint industry is estimated at Rs. 50,000 crore, with the category of decorative paints accounting for nearly 75% of this market. The decorative paints market comprises several categories depending on the type of surface, such as exterior wall paints, interior wall paints, wood finishes, varnishes, as well as ancillary products such as primers, fillers, etc.top-10-paint-companies-in-india The industrial paints category accounts for the remaining 25% of the paints market and includes a wide range of segments such as automotive paints, marine paints, packaging paints, powder coatings, protective coatings, and other general industrial paints.

Before moving on to the Top 10 Paint Companies In India Let Us See The Overview of the Paint Industry.

Market Leaders In Paint Industry 

Asian Paints was the leading company in 2020 with a market share of about 39 per cent. In the organized segment, Asian Paints led the decorative market segment, while the industrial segment was led by Kansai Nerolac. In 2019, the Indian paints industry registered a production growth of about 12 per cent and a growth of about 15 per cent in terms of the total value. The future growth of the industry is likely to depend on several factors such as disposable income, stability in crude oil prices, and growth in the automotive and real estate sectors.

Growth In Paint Industry

The paints, varnishes and coatings industry is one of the most regulated industries in the world. The Indian paints industry was the second largest in the APAC region in 2020. The sector has witnessed significant growth in recent years. In 2019, the wholesale price index for paints and coatings stood at 112.7, the highest over the last five years. In 2019, the trade value of the paint industry in the country was over 57 trillion Indian rupees. Despite being the second-largest industry in the world, the export value of the Indian paint industry was about 18 trillion rupees, while the import value was about 39 trillion rupees.

Segmentation In Paint Industry

The paint sector in the South Asian country has been broadly classified into two segments – industrial and decorative paints. The decorative segment consists of exterior and interior wall paints, enamel and ancillary products, and wood finishes. On the other hand, automotive, powder and protective coatings formed the industrial segment. The Indian market was dominated by the decorative segment, which accounted for about 75 per cent of the market share, compared to the industrial segment, which had just over 25 per cent of the share. Less technical expertise and participation of organized and unorganized players contributed to this large difference in market share.

Top 10 Paint Companies In India

1. Asian Paints

  • Revenue: Rs 18,516.86 Crore
  • Market Value: Rs 2,99,845.23 Crore
  • Total Assets: Rs 17,582.67 Crore
  • Promoter Holding: 52.79%
  • Listed Stock Exchange: BSE & NSE
  • Ticker Symbol: ASIANPAINT

Asian Paints Ltd is an Indian multinational paint company headquartered in Mumbai. The company is engaged in the manufacture, sale and distribution of paints, coatings, home furnishing and bathroom products and provision of related services. Asian Paints is India’s largest and Asia’s third-largest paint manufacturer. Asian Paints is the holding company of Berger International. The company generated a turnover of 18,516.86 crores and a profit of  3,052.51 crores in the financial year 2020-21. The company manufactures in 15 countries across the world, including India, with a strong presence in the Indian subcontinent and the Middle East.

The company has been the market leader in paint since 1967. Today, it is twice the size of any other paint company in India. Asian Paints manufactures a wide range of paints for decorative and industrial use. Asian Paint is the largest paint company in India. The company operates in 15 countries and has 26 paint manufacturing facilities worldwide, serving consumers in over 60 countries.

The Company is Ranked 1st in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Profit: Rs 3,052.51 Crores

2. Berger Paints

  • Revenue: Rs 6,021.41 Crore
  • Market Value: Rs 77,412.21 Crore
  • Total Assets: Rs 5,368.08 Crore
  • Promoter Holding: 74.99%
  • Listed Stock Exchange: BSE & NSE
  • Ticker Symbol: BERGERPAINT

Berger Paints Ltd is an Indian multinational paint company based in Kolkata, India. The company has 16 manufacturing plants in India, 2 in Nepal and 1 each in Poland and Russia. It has manufacturing facilities in Howrah and Rishra, Arinso, Taloja, Naltoli, Goa, Devla, Hindupur, Jejuri, Jammu, Puducherry and Udyognagar. The company has operations in five countries – India, Russia, Poland, Nepal and Bangladesh.

Berger Paints India Limited is the second largest paint company in the country and one of the fastest-growing paint companies. The company employs over 3450 people (excluding its subsidiaries) and has a nationwide distribution network of over 25,000 dealers.

The company started as Hadfield’s (India) Limited with just one factory in Howrah, West Bengal. In late 1947, Hadfield was acquired by British Paints (Holdings) Limited, United Kingdom and became known as British Paints (India) Limited. In 1983, the name of the company was changed to Berger Paints India Limited. Presently, the majority shareholding is owned by the Dhingra brothers of Delhi.

The Company is Ranked 2nd in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Profit: Rs 680.78 Crores

3. Kansai Nerolac Paints Ltd.

  • Revenue: Rs 4,690 Crore
  • Market Value: Rs 32,645.06 Crore
  • Total Assets: Rs 5,209.12 Crore
  • Promoter Holding: 74.99%
  • Listed Stock Exchange: BSE & NSE
  • Ticker Symbol: KANSAINER

Kansai Nerolac Paints Limited (formerly known as Goodlass Nerolac Paints Ltd) is the largest industrial paints company and the third-largest decorative paints company in India, based in Mumbai. It is a subsidiary of Kansai Paint of Japan. In 2015, the company had the third-largest market share in the Indian paint industry at 15.4%. The company operates in the industrial, automotive, and powder coating sectors. It develops and supplies paint systems used in finishing electrical components, bicycles, material handling equipment, bus bodies, containers, and the furniture industry.

In the year 1920, Gahagan Paints and Varnish was established at Lower Parel in Mumbai. A century later, this paint company is still in an enviable position – it is the second-largest paint company in India and one of the most trusted names in the industry.

Kansai Nerolac is the second-largest coatings company in India and a market leader in industrial paints. SRK became the brand ambassador for Nerolac. GNPL signed a TAA with Kansai Paints Co Ltd of Japan in Osaka in 1986 to manufacture cathodic electrodeposition paints and other sophisticated coatings for the automotive sector. GNPL was the first company to introduce this technology in India.

The Company is Ranked 3rd in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Profit: Rs 530.99 Crores

4. Akzo Nobel

  • Revenue: Rs 2,421.40 Crore
  • Market Value: Rs 9,613.56 Crore
  • Total Assets: Rs 3,993.80 Crore
  • Promoter Holding: 74.76%
  • Listed Stock Exchange: BSE & NSE
  • Ticker Symbol: AKZOINDIA

Akzo Nobel N.V., abbreviated AkzoNobel, is a Dutch multinational company that manufactures paints and coatings for industry and consumers worldwide. Headquartered in Amsterdam, the company operates in more than 80 countries and employs over 32,000 people. Its turnover in 2020 was €8.5 billion.

AkzoNobel India has been present in India for over 60 years. It is one of the leading paint and coatings companies. The company has 5 operating units in India, with offices and depots spread across the country. Akzo Nobel is the best paint brand in India.

AkzoNobel NV has acquired Imperial Chemical Industries Ltd, the holding company of ICI India Limited, under a Scheme of Arrangement under Section 425 of the UK Companies Act 1985. The name of the company has been changed to its present name AkzoNobel India Limited.

In 2012, 3 other AkzoNobel Group companies operating in India were brought under the umbrella of AkzoNobel India Limited to become the only integrated paints and coatings company in India with a presence in all segments of the paints and coatings industry and a relatively small chemicals portfolio. The chemicals business was spun off in 2018, making the company a focused paints and coatings company.

The Company is Ranked 4th in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Profit: Rs 207.60 Crores

5. Indigo Paints

  • Revenue: Rs 811.16 Crore
  • Market Value: Rs 10,982.25 Crore
  • Total Assets: Rs 3,993.80 Crore
  • Promoter Holding: 54%
  • Listed Stock Exchange: BSE & NSE
  • Ticker Symbol: INDIGOPNTS

Indigo Paints Limited is an Indian paint company headquartered in Pune, Maharashtra, with three manufacturing plants in Jodhpur, Kochi and Pudukkottai. The company is engaged in the manufacture, sale and distribution of decorative paints, emulsions, enamels, wood coatings, distempers, primers, fillers and cement paints.

In 2000, Hemant Jalan established Indigo Paints to manufacture cement paints. By 2021, the company rose to become the fifth-largest player in the decorative paints industry in terms of revenue. In December 2019, Jalan said it has established a distribution network in 27 states and seven union territories. In 2018, Mahendra Singh Dhoni became the brand ambassador of the company. In 2014, Sequoia Capital initially invested Rs 55 crore in the company and later, in 2016, invested another Rs 95 crore. In 2021, the company raised €348 million in its IPO from 25 anchor investors, including the Singapore government, Fidelity, Goldman Sachs, Nomura, HSBC, Pacific Horizon Investment Trust, SBI Mutual Fund, ICICI Prudential Mutual Fund and Axis Mutual Fund.

The Company is Ranked 5th in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Profit: Rs 70.85 Crores

6. Nippon Paint (India) Private Limited

Nippon Paint is based in Japan and has over 138 years of experience in the paint industry. The company is the number one paint manufacturer in Asia and is one of the leading paint manufacturers in the world. Nippon Paint India is ranked 5th in the list of top 10 paint manufacturers in India.

Nippon Paint was founded in 1881 by brothers Haruta and Jujiro Moteki as ‘Komyosha’ in Japan and was Japan’s first paint manufacturer. Headquartered in Osaka, Nippon Paint is the sole provider of paint solutions for all types of surfaces (automotive, marine, protective, decorative and industrial). Nippon Paint India is the best paint brand in India in certain categories.

Note: This company is not listed in the Indian stock market. So, no financial data is available to the public.

The Company is Ranked 6th in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Revenue: Rs 500+ Crores

7. Shalimar Paints

  • Revenue: Rs 325.56 Crore
  • Market Value: Rs 525.63 Crore
  • Total Assets: Rs 3,993.80 Crore
  • Promoter Holding: 53.1%
  • Listed Stock Exchange: BSE & NSE
  • Ticker Symbol: SHALPAINTS

Shalimar Paint Color & Varnish Company was established in the year 1902 in Howrah. Shalimar Paints established its first-ever large-scale manufacturing facility in Southeast Asia in Howrah, West Bengal in 1902. As the company expanded its presence across India, it set up its second manufacturing facility in Nashik, Maharashtra in 1992 to cater to the western region. Shalimar Paints set up its third manufacturing facility in Sikandrabad, U.P., in 2002.

Shalimar Paints is an Indian paint manufacturing company. The company is engaged in the manufacturing and marketing of decorative paints and industrial coatings. Some of the Indian buildings and structures like Howrah Bridge, Rashtrapati Bhawan, Salt Lake Stadium, All India Institute of Medical Sciences and many others continue to be painted with Shalimar Paints.

The Company is Ranked 7th in the List of Top 10 Paint Companies in India in terms of  Profit.

Total Profit: ( Loss ) Rs 49.50 Crores

8. Dulux Paints

Dulux is an internationally available brand of architectural paint. The Dulux brand name has been used by both Imperial Chemical Industries (ICI) and DuPont since 1931 and was one of the first alkyd-based paints. It is manufactured by AkzoNobel (originally by ICI before 2008), although markets in the United States are now served by PPG Industries. The company is headquartered in Gurgaon, Haryana. In India, the company operates 75 warehouses.

Dulux is a widely used brand of the company in the sector of decorative coatings. It is considered one of the leading paint manufacturers in India.

Note: This company is not listed in the Indian stock market. So, no financial data is available to the public.

The Company is Ranked 8th in the List of Top 10 Paint Companies in India in terms of  Profit.

9. Jenson & Nicholson Paints

J&N Paints was established in India in the year 1922. The company was founded in London in 1821 by John Jenson and Wilfred Nicholson. The company is headquartered in Gurgaon, Haryana and it is the second oldest paint company in India. The company specialises in architectural, industrial and protective materials. JNIL is the first Indian company to join the exclusive Nova Paint Club, giving it access to cutting-edge technology and state-of-the-art production facilities.

In 1955, the company was the first in India to introduce plastic dispersion paints and in 1986, powder coating technology. The company offers exterior and interior paints, metal, wood, primers, industrial paints and designer paints.

Note: This company is not listed in the Indian stock market. So, no financial data is available to the public.

The Company is Ranked 9th in the List of Top 10 Paint Companies in India in terms of  Profit.

10. Sheenlac Paints

Mr John Peter invented Sheenlac Paints in the year 1962, Sheenlac Paints is based in the Indian city of Chennai. The company is one of the top ten paint manufacturers in India. The company is credited with producing alcohol-free wood polish and packaging thinner in recyclable PET ( polyethene terephthalate ) bottles for the first time. Car paints, wood treatments and decorative paints are very popular with Sheenlac Paints.

Note: This company is not listed in the Indian stock market. So, no financial data is available to the public.

The Company is Ranked 10th in the List of Top 10 Paint Companies in India in terms of  Profit.

Also, Read Top 12 Most Expensive Stocks In India.

Conclusion

Paint is used to improve the appearance of your home, business or shop. There are various paint manufacturers in India. Some of them are foreign companies while others are Indian companies. The paints have many properties like durability, mildew resistance, water resistance, long odour, aesthetics and so on. Indian paints are popular all over the world. In terms of various financial factors.

Did You Know?

Asian Paint owns a supercomputer that is capable of predicting what type of paint is going te sold in any location tomorrow with 95% accuracy, which is why Asian Paint is the market leader in paint industries and able to rank 1st in Top 10 Paint Companies In India Consistently.

FAQs

Which is the leading paint company in India?

In terms of revenue, Asian Paints is the No. 1 paint company in India. The company has a total turnover of over Rs.18,000 Cr and a market share of 40%.

Which are the leading paint companies in India?

The Top 10 Paint Companies in India are:

  1. Asian Paints
  2. Berger Paints
  3. Kansai Nerloc Paints
  4. Akzo Nobel India
  5. Indigo Paints
  6. Nippon Paints
  7. Shalimar Colours
  8. Dulux Colours
  9. Jenson & Nicholson Colours
  10. Sheenlac Colours

What types of paints are available?

  • High gloss
  • Semi-gloss
  • Satin
  • Eggshell
  • Matt colour
  • Textured surface
Author

Hi Guys 👋, I am Mohanraj, Budding Digital Marketer and Aspiring Entrepreneur With a Vision to Make People Around the World Understand How Businesses Works and Earns in a Simplified Way.

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