Berger Paints eyes ~10,000-cr turnover in 3 yrs

Berger Paints, India’s second-largest paint maker in the decorative segment, is eyeing a consolidated turnover of ~10,000 crore in three years.

In FY21, it had clocked in a turnover of around ~6,800 crore. Though Berger is expanding its international presence, the major contributor to the growth would be India and the drivers would be the decorative, protective, and construction chemicals segments. “It’s doable,” said, Abhijit Roy, MD and CEO of Berger Paints. Berger will be in its 100th year in 2023-2024, which is when the company is hoping to touch the ~10,000-crore turnover mark.

Roy is banking on value and volume growth to achieve the target. “We will try and touch ~8,000 crore this year,” he said.

Raw material prices have been rising and Berger has been hiking prices. Since May, it has undertaken a series of price hikes and the last one is due on September 1. “From the time we started, till September 1, we would have hiked prices by about 6.5 per cent. That would more or less cover price hikes that have happened on the raw material side,” Roy said. That will stem the gross margin contraction from the third quarter.