Asian paints vs Berger Paint vs Kansai Nerolac | Top stock in paint sector? Stock Comparison Series

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Paint sector in India

The Indian paint industry is over 100 years old. Its beginning can be traced back to the setting up of a factory by Shalimar Paints in Calcutta (now Kolkata) in 1902.
The domestic paint industry is estimated to be a Rs 500 billion industry with the decorative paint category constituting almost 75% of this market. The decorative paint market includes multiple categories depending on the nature of the surface like exterior wall paints, interior wall paints, wood finishes, enamels as well as ancillary products like primers, putties, etc.
The industrial paint category constitutes the balance 25% of the paint market and includes a broad array of segments like automotive coatings, marine coatings, packaging coatings, powder coatings, protective coatings and other general industrial coatings.

Asian Paints

Established in 1942, Asian paints is in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor and providing paint related services. Its decorative coatings segment, which is the largest contributor to the company’s revenues features a comprehensive portfolio including paints, painting tools, water proofing solutions, wall coverings and adhesives. It has also entered into the home improvement space including two categories of kitchen and bath-fitting comprising ranges of modular kitchens and sanitary ware.

Asian Paints operates in 15 countries and has 26 paint manufacturing facilities in the world servicing consumers in over 60 countries across four regions viz. Asia, Middle East, South Pacific and Africa.
Asian paints has the market leadership in paint sector in India for the last 50 years!
Asian paints is 3 times bigger than the 2nd competitor which is Berger paints.

Kansai Nerolac

Established in 1920, Kansai Nerolac Paints Limited is the largest industrial paint and third largest decorative paint company of India based in Mumbai. It is a subsidiary of Kansai Paint of Japan.

Their industrial paint has huge application in automotive industry including passenger car, commercial vehicle, auto, 2 wheeler, etc. Their products are also used for coatings on refrigerators, washing machine, AC, etc.

Berger Paints

Established in 1923, today, Berger Paints India Limited is the second largest paint company in the country. Berger Paints India is headquartered at Kolkata, with 16 strategically located manufacturing units across India.

The company has the second largest distribution network of ~11,500 active dealers and ~12,000 tinting machines.

Company derives ~80% of revenue from decorative paints and the rest from industrial paints of which Automotive accounts for 8%, powder coating accounts for 2% and other industries accounts for 10%.

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