Top Paint Manufacturing Companies In India- 2021

Choosing the types and brands of paints to colour your home, office, or industrial installation can be somewhat confusing. You need to choose the colour that lends aesthetics to the place and is affordable. For centuries to date, Indians have been painting everything- from caverns to shrines, homes to industrial installation, military bases to aircraft. Thanks to the booming paint industry in India, choosing the right ones for the best price is now feasible for everyone. Keep reading for the list of the Top 5 Paint Manufacturing Companies In India

 India’s Paint Industry

About 65 per cent of all paints sold in India are made by reputed Paint companies in the organized sector.

Small, unorganized players hold the remaining 35 per cent market.

A report issued by Indian Paints Association states the paint industry of India rises to Rs. 707.8 billion through the financial year 2019-2020.

In India, decorative paints form 75 per cent of the market, while about 25 per cent is for industrial paints.

The decorative paints market in India shows a Compound Annual Growth Rate of 12.7 per cent per annum. In comparison, the industrial paints share is growing at 9.5 per cent, says IPA, based on the studies conducted by Nielsen Corporation.

Top 5 Paint Manufacturing Companies

Asian Paints Ltd1942
Kansai Nerolac Paints Ltd1920
Shalimar Paints Ltd1902
AkzoNobel India Ltd (Dulux Paints)1646
Berger Paints India Ltd1923

1] Asian Paints Ltd.

Website –

Asian Paints is the indisputable leader of India’s paint industry.

Today it stands as Asia’s third-largest manufacturer of paints.

The company works in 16 countries and has 25 paint factories in India and abroad.

Asian Paints’ products involve brands like Asian Paints Royale targeted at the premium segment, tractor emulsion, polite, tractor distemper targeted at the economy segment.

Its premium product Royale Play provides special effects and textures paint design for the perfect look.

  • Total Sales: Rs 20,468 Cr
  • Market Cap:  166,728 Cr.
  • Profit: 2,586 Cr
  • ROE: 23.98 %
  • Sales Growth (3Yrs): 10.66 %
  • Promoter holding: 52.79 %
  • Price to book value: 16.56
  • Debt to equity: 0.03

2] Kansai Nerolac Paints Ltd

Website –

Kansai Nerolac Paints is also known as Nerolac.

It was established in Mumbai in the year 1920 and as Gahagan Paints.

Over decades, it was also known as Goodlass Nerolac and later Nerolac. It stands among the most reputed paint brands in India.

The Major USP of Nerolac paints is that It helps you Find Professional Home Painters at Nerolac Master painter.

  • Total Sales: Rs 5,504 Cr.
  • Market Cap:  28,264 Cr.
  • Profit: 531 Cr
  • ROE: 13.38 %
  • Sales Growth (3Yrs): 12.92 %
  • Promoter holding: 74.99 %
  • Price to book value: 7.89
  • Debt to equity: 0.05

3] Shalimar Paints Ltd

Website –

Shalimar Paints rightly justifies the accolade of being India’s leading homegrown paints and coatings manufacturer. It produces coatings for exterior and interiors, metal, wood and floor.

Products of Shalimar Paints are also shipped and used for industrial, residential and specialized purposes.

  • Total Sales: Rs 332 Cr
  • Market Cap:  419.74 Cr.
  • Profit: – 68 Cr
  • ROE: -29.76 %
  • Sales Growth (3Yrs): -9.17 %
  • Promoter holding: 53.10 %
  • Price to book value: 1.40
  • Debt to equity: 0.45

4] AkzoNobel India Ltd (Dulux Paints)

Website –

With a history of over 100 years, Dulux Paints is an extremely respected brand in India.

Dulux Paints are manufactured by AkzoNobel India Ltd, a division of the Multinational Company (MNC) from the Netherlands.

Dulux makes specialized coatings for automotive, consumer electronics, aviation, power, shipping and leisure craft, construction, water, oil and gas wastewater, food and beverages industries, among others.

  • Total Sales: Rs 2,842 Cr
  • Market Cap:  8,766 Cr.
  • Profit: 237 Cr
  • ROE: 15.97 %
  • Sales Growth (3Yrs): 3.40 %
  • Promoter holding: 74.76 %
  • Price to book value: 7.93
  • Debt to equity: 0.07

5] Berger Paints India Ltd

Website –

Berger Paints India Ltd is known to be the second-largest paint manufacturer in India. The company appeared in India in 1923.

The company outlined its roots in the UK when Peter Berger started making paints in 1760.

Berger Paints has a total of ten manufacturing units in India and operations in Nepal, Russia, Bangladesh and Poland.

Its product Assortment comprises Interior wall coating, Exterior wall coating, wood finishes, undercoats and waterproofing solutions. You can also buy paint online on Amazon.

  • Total Sales: Rs 6,404 Cr
  • Market Cap:  48,493 Cr.
  • Profit: 615 Cr
  • ROE: 21.00 %
  • Sales Growth (3Yrs): 12.80 %
  • Promoter holding: 75.00 %
  • Price to book value: 18.9
  • Debt to equity: 0.40

Which is the No 1 Paint Manufacturing Company In India?

Asian Paints Ltd is known to be the No 1 Paint Company in India

Which is the largest Paint Manufacturing Company in India?

Asian Paints Ltd


Regardless of whether you are redecorating your house, repainting a vehicle or building a factory, paint is an inescapable part of life.
India’s paint industry employs several people.
Stocks of Indian paint factories have provided high returns to investors, which speaks volumes of their growing and successful trade.

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