Paints
Birla Opus to expand portfolio, sales network; expects high singe digit growth in FY26
Birla Opus has shown high single-digit growth in FY25, driven by expanding its dealer network and product range. The company plans to sustain this momentum by increasing throughput for dealers and launching new paint studios, aiming for a double-digit market share within three years.
Akzo India to sell powder coating business for Rs 2,073 cr
Akzo Nobel India received a binding offer from its parent company to acquire its powder coatings business and international research centre for a total of ₹2,143 crore. Additionally, the parent company will sell intellectual property rights of its decorative paints business in several countries to Akzo Nobel India for ₹1,152 crore.
Race for Akzo Nobel's India business heats up as Blackstone, other PE firms join race
The competition to acquire Akzo Nobel NV's India business has intensified with the entry of global investment firm Blackstone alongside other PE funds like Warburg Pincus and Carlyle Group. Rivals JSW Paints and Pidilite Industries are also interested, while Aditya Birla Group and Berger Paints have opted out.
Asian Paints to exit Indonesia in nearly $6 million deal
India's Asian Paints will sell its Indonesian business to Australia's Omega Property Investments for S$7.5 million due to growth challenges. Despite strategic efforts over the last nine years, the Indonesian operations remained sub-scale and contributed only 0.24% to the company's consolidated revenue.
Demand flat in paints business, but not worrisome: Birla Opus CEO Rakshit Hargave
Birla Opus CEO Rakshit Hargave stated that the paint market is not as negative as some competitors have indicated. He noted the market is flat or slightly declining, but Birla Opus has gained market share. Hargave aims for continued growth and reaching a network of 50,000 dealers by the end of the year.
Berger Paints exits race for Akzo India, cites high valuation
Berger Paints has decided to step aside from the race to acquire Akzo Nobel's India unit due to its high valuation. Abhijit Roy, the managing director, indicated that they would consider the acquisition at a fairer price. The company plans to enhance its distribution network to strengthen its presence and counter competition in the Indian market.
Akzo Nobel sees I-T reduction adding fresh coat to industry
The paint maker, which owns Dulux Paints, Thursday posted a 5% year-on-year decline in net profit for the October-December quarter to Rs 108.6 amid a subdued demand environment. Revenue from operations grew 2% to Rs 1,050.5 crore, while EBIT from operations fell 2% to Rs 143.5 crore. Rajgopal attributed the dip in profits to a special dividend given out in November 2023.
Paint companies of all hues line up for Akzo Nobel India
Major paint companies like Pidilite, JSW Paints, Berger, and Indigo Paints have submitted bids for acquiring Akzo Nobel India. The acquisition is valued at approximately ₹13,107 crore, following Akzo Nobel NV's strategic decision to sell its Indian operations. This move comes amid growing consolidation in the Indian paints industry.
Akzo Nobel India to explore sale of powder coatings biz, R&D to indirect arm of parent firm
Akzo Nobel India Ltd's board has decided to explore selling its powder coatings business and R&D operations to Akzo Nobel NV. They will also consider the potential acquisition of decorative paints intellectual properties. This move follows a request by the company's parent firm. The board has authorized management to start the evaluation of these potential transactions.
Indian paint sector faces margin squeeze amid intensifying competition: Report
Revenue growth for long-established players such as Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, and Indigo Paints moderated to 4 per cent in FY'24, significantly lower than the 14-15 per cent CAGR recorded between FY'19 and FY'23, CareEdge Ratings said in its study.
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Akzo Nobel India gets demand of over Rs 46 crore from state tax authorities
Akzo Nobel India has received show cause notices from tax authorities in Karnataka and Uttar Pradesh, demanding over Rs 46 crore. The notices pertain to disallowed input tax credit and tax dues for the period from April 2020 to March 2021. The Karnataka notice demands Rs 44.5 crore, while the Uttar Pradesh notice demands Rs 1.92 crore.
AkzoNobel India approves selling company's immovable properties
In a stock exchange filing, the company stated, "The Board has approved a proposal of monetisation by way of sale of Company’s immovable property/ies, which is/are having a very limited use/non-productive use for business operations of the Company. As and when the Company is about to reach a finality on sale of such immovable property/ies by signing the definitive agreement/s, appropriate disclosures to the stock exchanges would be made."
Birla Opus not looking at inorganic growth route
Birla Opus, the Aditya Birla Group's paint company, has denied pursuing inorganic growth through acquisitions, despite reports linking them to Akzo Nobel India. CEO Rakshit Hargave stated the company is focused on organic growth, having invested heavily in expanding its production capacity to meet demand and gain market share.
Birla Opus Paints opens 4th plant, eyes Rs 10,000 crores in revenue in first three years
Birla Opus Paints, a subsidiary of Grasim Industries, has inaugurated its fourth manufacturing plant in Chamarajnagar, Mysore, boosting its total production capacity to 866 MLPA. This expansion is part of a larger plan to establish six plants with a combined capacity of 1,332 MLPA.
Asian Paints reports significant 42.4% year-on-year drop in net profit
Asian Paints saw a significant drop in profits for the July-September quarter. The company's net profit fell by 42.4% compared to the same period last year. Asian Paints attributed the decline to lower demand and unfavorable market conditions. Despite the challenges, the company announced an interim dividend for the financial year ending in March 2025.
'Akzo Nobel open for partnership or India ops sell-off '
Akzo Nobel, Europe's leading paint manufacturer, is exploring options to either partner with a larger company or sell its Indian operations. Akzo Nobel's aim is to navigate the consolidation in the South Asian paint market. The company currently holds a 5% market share in India with its Dulux brand and seeks a collaborative approach for future growth.
