Nippon Paint aims to become 'significant player' in India market

The company, which operates into paint segments such as decorative, industrial, automotive and wood coatings, in September achieved the revenue almost equal to the corresponding month last year, and expects a major improvement in October. Expanding its portfolio, Nippon Paint on Tuesday introduced 'a+ program', which is a complete ecosystem to cater to the increasing demand for unique design solutions and aims to have a business of Rs 100 crore in the next couple of years.

Nippon Paint India, part of Singapore-based NIPSEA Group, aims to be a "significant player" in the domestic paint market and is making investments to achieve it, according to a company official. The company, which operates into paint segments such as decorative, industrial, automotive and wood coatings, in September achieved the revenue almost equal to the corresponding month last year, and expects a major improvement in October.

Expanding its portfolio, Nippon Paint on Tuesday introduced 'a+ program', which is a complete ecosystem to cater to the increasing demand for unique design solutions and aims to have a business of Rs 100 crore in the next couple of years. "Going forward, India is going to be a critical market for us. We expect that in the Indian market, we would be doubling and tripling our revenue in the next few years," Sharad Malhotra, president (automotive refinishes and wood coatings) of Nippon Paint India, told PTI.

He further said the company is making deep investments in the Indian market in terms of infrastructure, manpower and technology, and "we believe that we would be a significant player into the Indian market". Globally, Nippon Paint operates in over 25 countries. It is a leading player in Asia.

Nippon Paint is operating in India for over 10 years and has expanded to several verticals — from decorative paints to automotive paints, industrial paints and wood coatings. "Putting all together, our turnover in the past financial year was around Rs 1,000 crore and we are one of the fastest-growing paint company in India," he said.

Nippon Paint India gets around 60 per cent of its revenue from the decorative paints segment, followed by industrial and automotive, Malhotra said. "There opportunities in India are immense and being a relative newcomer in India, we can grow in every area in which we are present," he said. The domestic paint industry is estimated at Rs 50,000 crore and is majorly dominated by players such as Asian Paints, Berger Paints India, Kansai Nerolac Paints and Akzo Nobel India.

While talking about its 'a+ program', Malhotra said Nippon Paint India will collaborate with more than 500 leading architects and designers across India. "a+ is a unique partnership platform where we co-create and collaborate with architects, designers and consumers to create wonderful finishes for interior spaces. Under this platform, we will provide holistic solutions from concept to creation," he said.

He also said the space where the company is entering is fragmented and has no organised players in the segment. "At the moment, this is not a volume or revenue game for us. This is about creating a special solution for the customers, which can then create a market of its own," he added.