The Indian paint industry is home to several top players, and as we look into 2024, it becomes evident that some companies continue to lead in market share and product innovation. Asian Paints Ltd. stands out as the largest company in this sector with a market cap of ₹2,469.4 billion, reporting an impressive revenue of ₹236,869 million. The company consistently dominates the market with a robust growth rate and profitability, showcasing its leadership position in the Indian paint industry. Berger Paints India Ltd., another key player in the market, follows closely with a market cap of ₹489.2 billion. The company earned a revenue of ₹57,031 million, further solidifying its position as one of the leading paint companies in India, thanks to its diversified product range and widespread presence across the nation.
Kansai Nerolac Paints Ltd., known for its strong brand presence and wide array of paint solutions, maintains its position in the top bracket with a market cap of ₹262.8 billion. It reported a revenue of ₹21,245 million in the last financial year, continuing its solid growth trajectory. Akzo Nobel India Ltd., with a market cap of ₹3,650 billion, stands as a significant international player in the Indian market, delivering high-end paint solutions with a focus on sustainability. The company generated ₹16,622 million in revenue, demonstrating its solid foothold in India’s competitive paint sector.
Indigo Paints Ltd., a relatively newer entrant, has quickly made a name for itself in the market with a market cap of ₹1,500 billion and a revenue of ₹7,145 million. The company’s commitment to innovation and quality has enabled it to carve out a space among the Top 10 paint company in India 2024. Shalimar Paints Ltd., although smaller with a market cap of ₹101 billion, continues to serve its niche market, despite facing financial challenges. It reported a revenue of ₹845 million, with a modest growth rate.
In a more specialized niche, Ducol Organics & Colours Ltd. shows steady performance with a market cap of ₹115 billion and revenue of ₹167 million. Their expertise in organic and eco-friendly paint products places them in a growing segment within the industry. Retina Paints Ltd., with a revenue of ₹72.7 million, operates in a more specific market segment, focusing on industrial and niche paint solutions.
Overall, the Top 10 paint company in India 2024 are characterized by their consistent innovation, strong brand presence, and strategic growth. These companies continue to lead India’s paint industry, offering a wide range of products that cater to various consumer needs, from residential to industrial sectors.
