Top 10 Best Paint Company in India

This is the List of Top Paints company in India before that take a short look at the Paint industry in India.

The domestic paint industry is estimated to be a Rs 50,000 Crores 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.

List of Top Paint Company in India

The domestic paint industry still continues to have a sizeable 30-35% share of unorganized players. Here is the list of top Paint companies in India which is sorted out based on the total Sales.

1. Asian Paints Ltd

Founded in 1942, Asian Paints is India’s leading and Asia’s third largest paint company, with a turnover of Rs 193.50 billion. It was set up as a partnership firm by four friends who were willing to take on the world’s biggest, most famous paint companies operating in India at that time.

Asian Paint is one the best paint brand in India. Over the course of 25 years, Asian Paints became a corporate force and India’s leading paints company. Asian Paint is no 1 paint company in India by size.

• Total Sales: Rs 22,044 Cr
• ROE: 23.98 %
• Sales Growth (3Yrs): 10.66 %
• Promoter holding: 52.79 %
• Debt to equity: 0.03
• Price to book value: 16.56

The company has been the market leader in paints since 1967. Today, it is double 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 in the world, servicing consumers in over 60 countries. The company is top in the list of top 10 paint companies in India

2. Berger Paints India Ltd

Berger Paints India is headquartered at Kolkata, with 16 strategically located manufacturing units across India (including the subsidiaries), 2 in Nepal, 1 each in Poland and Russia and about 162 stock points. The company also has an international presence in 4 countries (Nepal, Bangladesh, Poland, and Russia).

• Total Sales: Rs 6,869 Cr
• ROE: 21.00 %
• Sales Growth (3Yrs): 12.80 %
• Promoter holding: 75.00 %
• Debt to equity: 0.40
• Price to book value: 18.9

Berger Paints India Limited is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint companies. With employee strength of above 3450 excluding the subsidiaries and a countrywide distribution network of 25,000+ dealers. The company is 2nd in the list of top 10 paint companies in India by Turnover.

Starting out as Hadfield’s (India) Limited, it had just one factory in Howrah, West Bengal. By the close of 1947, Hadfield was acquired by British Paints (Holdings) Limited, UK and came to be known as British Paints (India) Limited. In 1983, the name of the Company was changed to Berger Paints India Limited. Currently, the majority stake is with the Delhi based Dhingra brothers.

3. Kansai Nerolac Paints Ltd

In 1920, Gahagan Paints and Varnish came into being at Lower Parel in Mumbai. A century later, this paint company continues to be in an enviable position- that of being the second largest paint company in India and one of the most trusted names in the industry.

• Total Sales: Rs 5793 Cr.
• ROE: 13.38 %
• Sales Growth (3Yrs): 12.92 %
• Promoter holding: 74.99 %
• Debt to equity: 0.05
• Price to book value: 7.89

Kansai Nerolac is the second largest coating company in India and a market leader in Industrial Coatings. SRK became the brand ambassador for Nerolac. GNPL signed a TAA with Kansai Paints Co. Ltd., of Japan in Osaka in 1986 for the manufacture of Cathodic Electrodeposition Primer and other sophisticated coatings for the automotive products. GNPL was the first company to introduce this technology in India. Read more about Kansai Nerolac Paints Limited

4. Akzo Nobel India Ltd

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

AkzoNobel NV acquired Imperial Chemical Industries Ltd., the holding company of ICI India Limited, through a scheme of arrangement under section 425 of the UK Companies Act 1985. The name of the Company was changed to its present name, AkzoNobel India Limited.

• Total Sales: Rs 2,842 Cr
• ROE: 15.97 %
• Sales Growth (3Yrs): 3.40 %
• Promoter holding: 74.76 %
• Debt to equity: 0.07
• Price to book value: 7.93

In 2012, 3 other AkzoNobel Group companies operating in India were merged under the umbrella of AkzoNobel India Limited, to make it the only integrated Paints and Coatings company in India with presence in all segments of the Paints & Coatings space, with a relative small Chemicals’ portfolio. The chemicals business was hived off in 2018, thereby making the company a focused Paints & Coatings company.

5. Indigo Paints

Started in the year 2000, Indigo Paints had a modest beginning. It started out with the manufacture of lower-end Cement paints, and gradually expanded its range to cover most segments of water-based paints like Exterior Emulsions, Interior Emulsions, Distempers, Primers, etc.

From an early age, the Company spread its footprints across the country, with the rapid expansion of its reach across India. Today the Company stands out as one of the strongest contenders in the Indian paint industry, being rated as an innovative paint manufacturer, which keeps coming out with unique products never before offered in the country.

• Total Sales: ₹ 726 Cr
• Dividend Yield: 0.00 %
• ROCE: 24.6 %
• ROE: 18.6 %
• Face Value: ₹ 10.0
• Promoter holding: 54.0 %
• Debt to equity: 0.02

Over time, the Company found its niche in the paint industry through innovation. It kept churning out bright new ideas for painting solutions, with alarming regularity. Gradually, the industry began looking upon the Company as a futuristic thinker and a storehouse of new product development.

With changing time and trends, Indigo Paints revamped its identity showcasing a new wave of thinking by the Company. A few years ago it clubbed all its multiple brands for different product categories into a single umbrella brand “INDIGO”.

6. Nippon Paint (India) Private Limited

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

• Total Sales: Rs Over 500 Cr

Nippon Paint was founded by brothers Haruta and Jujiro Moteki as ‘Komyosha’ in Japan in 1881 and was Japan’s first Paint Manufacturing Company. Headquartered at Osaka, Nippon Paint is the only paint solutions provider for all kinds of surfaces (Auto, Marine, Protective, Decorative and Industrial Paints). Nippon Paint India is the best paint brand in India in Certain categories.

7. Shalimar Paints Ltd

The Shalimar Paint Color & Varnish Company was established in 1902 in Howrah. Shalimar Paints set up South-East Asia’s first ever large-scale manufacturing plant in 1902 in Howrah, West Bengal. As the company expanded its footprint across India, it established its second manufacturing unit 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.

• Total Sales: Rs 332 Cr
• ROE: -29.76 %
• Sales Growth (3Yrs): -9.17 %
• Promoter holding: 53.10 %
• Debt to equity: 0.45
• Price to book value: 1.40

Shalimar soon became the country’s leading paint brand. India’s iconic structures like Rashtrapati Bhavan, Howrah Bridge, Vidyasagar Setu, Salt Lake Stadium, continue to use Shalimar Paints. With access to high-end technology in the industrial coatings segment, Shalimar Paints pioneered aviation coatings, marine paints and the painting of thermal power plants.

8. Sirca Paints India Ltd

Originally incorporated at New Delhi, an idea was first seeded as Sircolor Wood Coatings Private Limited when January 19, 2006, witnessed the epic beginning. The journey eventually unfolds in the name of Sirca Paints India Limited.

A company that was started with a fairly simple business model of importing PU products from Italy and Korea, repacking it, and then selling it through our own dealer network has soared higher ever since then.

• Total Sales: ₹ 157 Cr
• ROCE: 11.3 %
• 5Y Avg ROE : 26.6 %

Today, Sirca takes pride in being one of the leaders in northern India for wood coatings. Alongside, the company has sustainably expanded its network to southern and western India as well.

It takes years to ensure the faith and build the trust of the people. Rightly so, every product at Sirca is backed by research-based knowledge and is formulated keeping in mind how it should cater to the market’s varying needs. Today Home is one’s most aspirational asset and Sirca aims to successfully grace it with coatings that stand the test of time.

No	Company Name
1	Asian Paints Ltd
2	Berger Paints India Ltd
3	Kansai Nerolac Paints Ltd
4	Akzo Nobel India Ltd
5	Indigo Paints
6	Nippon Paint (India) Private Limited

Which is the No 1 paint company in India?

Based on the Sales Asian Paints Ltd is the No 1 Paint Company in India. The company has a total sales of Rs 22,468 Cr with a Market share of ~ 40%.

Which is the largest paint company in India?

Yes, Asian Paints Ltd is the Largest Paint Company in India.