Top 10 Paint Companies in India by Market Cap

Paint companies are an essential part of the construction industry, providing a variety of products and materials that help transform residential and commercial spaces. Each paint company has its own set of features, which sets it apart from its competitors. In this document, we will explore the different paint companies available in the market and discuss their unique features.

Paint companies play an important role in India's construction industry. They offer a variety of paints for both residential and industrial applications. With the growth of the construction industry, paint companies in India have seen a significant increase in demand.

In India, there are many paint companies operating in the market. These companies offer a variety of paints to meet the diverse needs of their customers. Some of the common types of paints used in India include emulsion paint, enamel paint, oil paint, acrylic paint, and texture paint.

History of Paint Companies in India

The history of paint companies in India dates back to the early 19th century. The first paint company in India was established in Kolkata in 1809. The company started by manufacturing oil-based paints for decorative and architectural purposes. Over the years, paint companies in India have developed and innovated their products to meet the changing demands of the market.

Initially, paint companies in India focused on making oil-based paints as they were durable and provided good finishes. However, with the advent of technological advancements, water-based paints gained popularity due to their low volatile organic compound (VOC) content. Today, water-based paints account for the bulk of the total paint market in India.

Top 10 Paint Companies List by Market Capitalisation

There are many well-known paint companies in India, offering a wide range of products to meet the diverse needs of consumers. Whether you are looking for exterior paints for home walls, interior paints for rooms or industrial paints for factories, these top 10 paint companies in India offer the best products at competitive prices.

Also Read: Top 10 Glass Companies in India by Market Cap

1. Asian Paints Ltd

• Market Cap: ₹ 280,239.23 Cr.
• Sales (latest quarter): ₹ 8730.76 Cr.
• Net Profit (latest quarter): ₹ 1275.3 Cr.
• Quarterly profit growth: 0.38 %
• Exchange: BSE, NSE
• Official Website: asianpaints.com

Asian Paints Limited, founded in 1942 by four friends in Mumbai, India, has grown into one of the largest paint companies in the world and the leading paint manufacturer in India. Starting as a small enterprise in a country under colonial rule, it expanded rapidly due to its innovative strategies and strong management. The company's market presence spans more than 15 countries in Asia, the Middle East, and the South Pacific region, with 26 paint manufacturing facilities worldwide. Asian Paints offers a wide range of products including decorative and industrial paints, coatings and home improvement solutions. Their product line has a variety of finishes, textures, and colors, catering to the preferences of different customers. In addition to paint, the company offers services such as color consultation and home painting solutions, with an emphasis on quality and customer satisfaction. With a strong distribution network, advanced technology integration and focus on sustainability, Asian Paints maintains a dominant position in the industry, continuously expanding its product offerings and market reach.

2. Berger Paints India Ltd

• Market Cap: ₹ 58,604.57 Cr.
• Sales (latest quarter): ₹ 2520.28 Cr.
• Net Profit (latest quarter): ₹ 222.62 Cr.
• Quarterly profit growth: 19.61 %
• Exchange: BSE, NSE
• Official Website: bergerpaints.com

Established in 1923 and originally part of British Paints Limited, Berger Paints India Limited has grown to become one of India's leading paint companies and a major player in the global paint industry. With a rich history of over a century, Berger Paints has established a strong market presence in India and operates in several countries in South Asia, Middle East and the Caribbean. The company offers a wide range of products, including decorative and industrial paints, coatings and emulsions, catering to the needs of both the residential and commercial sectors. Berger Paints is known for its innovative and environmentally friendly products, including waterproofing solutions, protective coatings, and special textures. In addition to its wide product portfolio, the company offers comprehensive painting services such as color consultation, painting solutions, and specialist application techniques. Berger Paints has a strong distribution network, advanced manufacturing facilities and focus on research and development, ensuring high-quality and durable products. Through continuous innovation and customer-centric strategies, Berger Paints India Limited maintains a significant market share and reputation for excellence in the paint industry.

3. Kansai Nerolac Paints Ltd

• Market Cap: ₹ 22,869.06 Cr.
• Sales (latest quarter): ₹ 1769.39 Cr.
• Net Profit (latest quarter): ₹ 114.29 Cr.
• Quarterly profit growth: 21.88 %
• Exchange: BSE, NSE
• Official Website: nerolac.com

Kansai Nerolac Paints Limited, which was established in 1920 as Gahagan Paints & Varnish Company Limited, is one of India's leading paint companies and a subsidiary of Kansai Paint Company Limited, Japan. With a century-long history, the company has become a major player in the Indian paint industry since its early days. Kansai Nerolac has a strong market presence, with a significant share in the decorative, industrial and automotive paint segments, and its operations spread across India and several international markets. The company offers a wide range of products including interior and exterior wall paint, wood coating, metal enamel, and special industrial coating. Known for its innovation and sustainability, Kansai Nerolac focuses on eco-friendly products, such as low-VOC paint and lead-free formulations. In addition to its diversified product portfolio, Kansai Nerolac offers value-added services such as color consulting, technical support, and professional painting solutions. The company's wide distribution network, state-of-the-art manufacturing facilities and commitment to R&D ensure high quality and reliable products. Through continuous innovation, strategic partnerships and customer-centric approach, Kansai Nerolac Paints Limited maintains its leading position in the paint industry.

4. Akzo Nobel India Ltd (Dulux Paints)

• Market Cap: ₹ 12,970.79 Cr.
• Sales (latest quarter): ₹ 973.4 Cr.
• Net Profit (latest quarter): ₹ 108.8 Cr.
• Quarterly profit growth: 14.05 %
• Exchange: BSE, NSE
• Official Website: akzonobel.co.in

Part of global paints and coatings giant Akzo Nobel, Akzo Nobel's legacy dates back to 1911, when it started operations in India as Dutch Boy Paints. Over the years, it has evolved into a major player in the Indian paint industry, leveraging the expertise and innovation of its parent company. Akzo Nobel India has a strong market presence with operations across India and a strong presence in South Asia. The company's product portfolio includes a wide range of decorative paints, performance coatings, and specialty chemicals catering to the needs of the residential, commercial, and industrial sectors. Renowned for brands like Dulux, Akzo Nobel India is synonymous with quality and innovation, offering advanced emulsions, enamels, and exterior finishes, as well as sustainable and eco-friendly solutions. The company also provides professional painting services, color consultation, and technical support, ensuring a comprehensive customer experience. With state-of-the-art manufacturing facilities, a vast distribution network, and a focus on research and development, Akzo Nobel India offers high-quality, sustainable, and aesthetically pleasing products. Its commitment to sustainability, customer satisfaction, and continuous innovation reinforces its position as a leader in the Indian paints market.

5. Indigo Paints Ltd

• Market Cap: ₹ 6,547.41 Cr.
• Sales (latest quarter): ₹ 366.14 Cr.
• Net Profit (latest quarter): ₹ 53.52 Cr.
• Quarterly profit growth: 9.94 %
• Exchange: BSE, NSE
• Official Website: indigopaints.com

Indigo Paints Limited, founded in 2000 by Hemant Jalan, has rapidly emerged as one of the dynamic paint companies in India. Despite being a relatively new company, Indigo Paints has carved a niche for itself in the competitive Indian paint industry. The company is known for its innovative approach and distinctive product offerings, which have helped it gain a substantial market presence across India. Indigo Paints' product portfolio includes a wide range of decorative paints, such as interior and exterior emulsions, enamels, primers, putty and unique specialty products such as metallic and tile paints. Emphasizing quality and innovation, the company has introduced several first-of-its-kind products that address specific customer needs and preferences. In addition to its diverse product range, Indigo Paints offers professional painting services and color consulting, which enhances the overall customer experience. With a strong distribution network, advanced manufacturing facilities and focus on research and development, Indigo Paints ensures the delivery of high-quality and sustainable products. Its aggressive marketing strategies, innovative product launches, and commitment to sustainability have enabled Indigo Paints Limited to rapidly expand and establish itself as a major player in the Indian paint industry.

6. Shalimar Paints Ltd

• Market Cap: ₹ 1,252.91 Cr.
• Sales (latest quarter): ₹ 144.26 Cr.
• Net Profit (latest quarter): ₹ -26.42 Cr.
• Quarterly profit growth: -174.64 %
• Exchange: BSE, NSE
• Official Website: shalimarpaints.com

Established in 1902, Shalimar Paints Limited is one of the oldest and most renowned paint companies in India. Founded by British entrepreneurs A.N. Turner and A.C. Wright, the company played a key role in the development of the Indian paint industry. Over its long history, Shalimar Paints has built a strong market presence, serving a diverse customer base across India. The company's extensive product portfolio includes decorative paints, industrial coatings, marine paints, and protective coatings. Known for its innovation, Shalimar Paints offers a wide range of interior and exterior emulsions, enamels, varnishes and special paints, designed for specific applications, such as heat-resistant and anti-corrosion coatings. Shalimar Paints also offers value-added services such as color consulting, technical support and professional painting solutions, ensuring comprehensive customer satisfaction. With strategically located manufacturing facilities and a wide distribution network, the company delivers high-quality products to different market segments. Its commitment to quality, consistency and innovation has helped Shalimar Paints maintain a competitive edge in the industry. Through continuous improvement and customer-centric strategies, Shalimar Paints Limited continues to be a significant and trusted name in the Indian paints market.

7. Retina Paints Ltd

• Market Cap: ₹ 111.52 Cr.
• Sales (latest quarter): ₹ 6.5 Cr.
• Net Profit (latest quarter): ₹ 2.89 Cr.
• Exchange: BSE, NSE
• Official Website: retinapaints.com

Retina Paints Limited, a relatively new company in the Indian paint industry, was established with an aim to provide high quality and innovative paint solutions. Despite its recent establishment, the company has quickly established a notable market presence by focusing on cutting-edge technology and customer-centric products. Retina Paints offers a comprehensive range of products including decorative and industrial paints, enamel, primers and special coatings. The company distinguishes itself through its commitment to environmentally friendly and sustainable products incorporating low VOC (volatile organic compounds) formulations and other green technologies. Retina Paints also offers a set of services aimed at enhancing the customer experience such as professional painting services, color consultation and technical support. The company's modern manufacturing facilities and wide distribution network ensure efficient production and wide availability of its products in various sectors. Retina Paints' emphasis on innovation, quality, and sustainability has helped it move quickly into the competitive paint market. Through its strategic approach and dedication to meeting diverse customer requirements, Retina Paints Limited is poised to become a significant player in the Indian paint industry, providing reliable and aesthetically pleasing paint solutions.

8. MCON Rasayan India Ltd

• Market Cap: ₹ 90.02 Cr.
• Sales (latest quarter): ₹ 24.88 Cr.
• Net Profit (latest quarter): ₹ 1.16 Cr.
• Exchange: BSE, NSE
• Official Website: mconrasayan.com

MCON Rasayan India Ltd, established in 2014, has quickly emerged as a significant player in the construction chemicals industry in India. The company was founded with the aim of providing high-quality and innovative construction solutions. In a relatively short span of time, MCON Rasayan has developed a strong market presence across India, catering to various manufacturing requirements. The company's product portfolio includes construction chemicals such as waterproofing systems, mixtures, sealants, repair products, tile adhesives, and grout. Known for their innovation and quality, these products are designed to enhance the durability, efficiency, and aesthetic of construction projects. MCON Rasayan emphasizes eco-friendly formulations and sustainability while aligning with modern manufacturing trends and regulatory standards. In addition to its extensive product range, the company offers comprehensive services, including technical support, on-site assistance, and application guidance, which ensures optimal product performance and customer satisfaction. With state-of-the-art manufacturing facilities and an extensive distribution network, MCON Rasayan ensures the timely delivery and accessibility of its products across various sectors. Through continuous innovation, a strong focus on quality, and a customer-centric approach, MCON Rasayan India Limited has established itself as a trusted and trustworthy name in the construction chemicals industry.

9. Nippon Paint India Ltd

• Official Website: nipponpaint.co.in

Nippon Paint India Limited, a subsidiary of Japanese multinational company Nippon Paint Holdings Company Limited, entered the Indian market with a rich heritage since its inception in 1881. Leveraging over a century of expertise in the paint industry, Nippon Paint India has established itself as a major player in the Indian market. The company's extensive product portfolio includes decorative paints, automotive coatings, industrial coatings, and special coatings, catering to the needs of various customers. Known for its innovative and high-quality products, Nippon Paint India offers a range of solutions such as interior and exterior emulsions, enamel paints, wood coatings and advanced protective coatings. The company emphasizes environmentally friendly products, including low VOC formulations and other sustainability technologies. Nippon Paint India also offers a range of services, including professional painting services, color consulting, and technical support, ensuring a comprehensive and satisfying customer experience. With state-of-the-art manufacturing facilities and a strong distribution network, the company ensures efficient production and wide availability of its products. Nippon Paint India's commitment to innovation, quality and sustainability, coupled with its strong market presence and customer-centric approach, has strengthened its position as a reliable and leading paint manufacturer in India.

10. British Paints

• Official Website: britishpaints.in

Founded in 1919 in Australia and now part of the Berger Group, British Paints has an illustrious history in the paint industry. With a focus on quality and innovation, British Paints has expanded its presence in the Asia-Pacific region, including India, where it operates as a subsidiary of Berger Paints India Limited. This brand offers a wide range of products including interior and exterior paints, wood finishes, primers and special coatings that meet the needs of both residential and commercial markets. Famous for its durable and high-performance coatings, British Paints emphasizes color diversity and quality assurance through advanced manufacturing processes. The company's products are designed to meet various environmental standards and customer preferences, including low VOC formulations and environmentally friendly options. British Paints also offers comprehensive services such as color consulting, painting solutions, and technical support, which enhances customer experience and satisfaction. Leveraging Berger Paints' extensive distribution network and manufacturing capabilities, British Paints continues to strengthen its market position by offering innovative products and reliable services across its operational regions in Asia-Pacific.

Also Read: Top 10 Textiles Companies in India 2024

Types of Paint

There are many types of paint, each with its own characteristics and uses. For example, oil-based paints are known for their durability and long-lasting finish. They are thicker and take longer to dry, but they provide a firmer and glossy finish that can withstand wear and tear. On the other hand, water-based paints dry quickly and provide a slimmer consistency. They are ideal for interior painting projects because they are less likely to release harmful fumes.

Advantages of Paint Companies in India

Paint companies in India offer a variety of benefits to their customers. First, they offer several paint options to choose from. Whether you are looking for interior paint or exterior paint, these companies have brought it all for you.

Secondly, paint companies in India provide high-quality paints at affordable prices. Their products undergo rigorous quality checks to ensure their durability and performance. In addition, paint companies in India offer customized paint solutions to meet the needs of their customers.

After all, paint companies in India have a strong distribution network across the country. This allows them to reach their customers faster and more efficiently. Additionally, paint companies in India also provide after-sales support and services, such as color consultation and wall painting services.

Disadvantages of Paint Companies in India

Paint companies in India get many advantages, but there are also some disadvantages that need to be considered. A major drawback is the environmental impact of paint production. Paint companies generate large amounts of waste and emissions during the manufacturing process. If it is not managed properly, it can have an adverse impact on the environment. Additionally, paint companies in India face stiff competition from foreign paint manufacturers. The global paint market is dominated by multinationals, which have a strong presence in India. This competition makes it difficult for Indian paint companies to survive and flourish in the Indian market. Moreover, paint companies in India face challenges in terms of research and development. To stay ahead in the market, they need to constantly develop new paint formulations and invent new ones. This can be challenging for small companies with limited financial resources.

Conclusion

Paint companies in India play an important role in the country's construction industry. They offer many options of paint and cater to the needs of both residential and industrial applications. Although they face certain challenges like competition and environmental concerns, paint companies in India keep on overcoming these barriers and providing quality paint products to customers.