Kamdhenu eyes Rs 1,000 crore revenue from paints section in next 5 years: CMD

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By Abhishek Sonkar

NEW DELHI: Building materials maker Kamdhenu Group is looking at over Rs 1,000 crore revenue from its paints segment over the next five years, amid rising demand for the product in line with new housing projects.

The company is also in the process of hiving off its paints business into a separate entity, Satish Kumar Agarwal, Chairman and Managing Director (CMD), Kamdhenu Group, said.

As per available figures provided by the company, Kamdhenu had garnered a revenue of Rs 226 crore from the paints segment in FY 2019-20.

“Kamdhenu Paints is a division of Kamdhenu Group. We are aiming to achieve revenue of over Rs 1,000 crore by FY26 from our paints segment, citing the rising market share of organised players,” the CMD told PTI.

The paint industry in India is witnessing an annual growth of around 18-20 per cent, he said.

Agarwal further said for better functioning of the segment, the management has decided to demerge the paints division into a separate entity and later list it on the stock exchanges.

“The process of hiving-off paint business is going on and we expect to complete it within FY 2022. We have received some of the regulatory approvals and are awaiting a few more, which we are expecting to receive within the current financial year. The idea is to increase the focus on the paint business and capture a sizeable market across the country,” Agarwal said.

Kamdhenu Paints has its manufacturing plant at Chopanki in Rajasthan where it manufactures interior and exterior emulsions, stainers, colourants, designer paints, construction chemicals, waterproofing chemicals and other water-based speciality products.

It also outsources median and low-range products like distempers, enamel and putty from manufacturing units in Rajasthan, Uttar Pradesh, Haryana and Punjab.

Besides paints, the Gurugram-based Kamdhenu Group has a presence in the steel making.

The company, under the franchisee model, has TMT manufacturing plants in states like Odisha, Gujarat, Karnataka, Telangana, Andhra Pradesh, Bihar, Goa, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Punjab, West Bengal, Jharkhand, and Madhya Pradesh, among others.

Source: Press Trust of India