Berger Paints to focus on sustainable growth, open to acquisitions: Chairman Rishma Kaur

Kolkata, Feb 10 (PTI) Berger Paints Ltd chairman Rishma Kaur on Monday said that the company will continue to build on its century-old legacy of trust and innovation while focusing on "sustainable" growth and strategic expansion.

Kaur said the company is maintaining a cautious approach towards any acquisitions.

When asked why the company did not bid for Akzo Nobel's paints business which is up for sale in India, Pakistan and Sri Lanka, the Berger Paints chairman told PTI that "Under the current circumstances, it does not align with our strategy. Therefore, we have not placed any bid so far." She said, "We have our plans, whether competition is high or low. We will deal with it in a structured manner. If a good acquisition opportunity arises, we will evaluate it based on the price-benefit equation. However, we have the capability to grow organically, and that remains our priority. We have acquired companies in the past and will continue to consider acquisitions if they align with our strategic goals." Berger Paints is among India's leading paint manufacturers and has been focusing on strengthening its market position through innovation, branding, and supply chain efficiencies while evaluating strategic acquisitions when necessary, the chairman said.

"Our vision has always been to maintain the trust we have developed over the years. With 100 years behind us, our focus remains on innovation, customer orientation, service excellence, supply chain efficiency, network expansion, and branding. Growth is important, but it must be sustainable," Kaur said.

Amid rising competition and ongoing consolidation in the paint industry, Kaur said Berger Paints has well-defined strategies in place to navigate market dynamics.

Kaur emphasised that Berger Paints is not focused on chasing volume numbers or engaging in a race to be the largest player in the industry.

"We don't have any such ego that we must be number one or number two. Our priority is to stick to our planned targets and budgets. As long as we meet our own growth objectives, we are satisfied," she asserted.

The company had earlier announced plans to double its turnover to Rs 20,000 crore by 2030. Kaur reaffirmed this target while maintaining a cautious approach toward inorganic growth.

Meanwhile, Berger Paints Managing Director & CEO Abhijit Roy, on the occasion of the inauguration of the company's new headquarters in New Town, said that there has been a recovery in the value loss of about 11 per cent faced over the last few quarters.

"The price cut impact of 5 per cent last year has been mitigated. The slowdown impact loss of 3 per cent will be recovered with a consumer-centric budget," he said.

He further stated that the company is expanding despite rising competition and will invest Rs 2,000 crore in three new projects in Panagarh (West Bengal), Odisha, and Andhra Pradesh. These projects will help the company's installed capacity grow to 1.42 lakh tonne per month from the current 1.10 lakh tonne. PTI BSM RG

Source: PTI