Indian Paint Industry in a Nutshell: Top Paint Brands in India

The Indian paint brands in India industry is the fastest growing sector in Asia itself while the domestic paint industry is estimated at ₹50,000 crores. Its market share stands at 75% while the market share of industrial paint stands at 25%. 

The types of decorative paints offered by the top 10 paint companies in India listed in this article include:

1. Wood finishes
2. Enamels
3. Interior wall paints
4. Exterior wall paints, and more

In this guide, we will discuss about the best paint companies in India and all their details.

Shalimar Paints

Nippon Paints

AkzoNobel India

Berger Paints

Asian Paints

Kansai Nerolac Paints Limited

Jotun Paints

Akzo Nobel India Ltd

Sirca Paints India Ltd

Indigo Paints

Top 10 paint Companies in India

1. Shalimar Paints (1902, West Bengal, India)

Market Values and Other Information About Asian Paints

• Contact number: +91-124-4616600
• Email: [email protected]
• Headquarters: Mumbai, India
• EBITDA: -17.48 (as of March 2022)
• Revenue: ₹362.73 crores (as of March 2022)
• ROE: -18%

Shalimar Paints is one of the best paint companies in India which was established in 1902 in Howrah, West Bengal. The founders were two British officers, A N Wright and A N Turner. They have become the top paint brand in Southeast Asia worth more than 5000 dealers and 30+ depots spanning the entire country. The brand has several famous buildings as its clientele like

1. Salt Lake Stadium
2. Howrah Bridge
3. Vidyasagar Setu
4. Rashtrapati Bhavan

Shalimar Paints offers services for the industrial, professional, and home sectors. Its products include

1. Protective coatings
2. Wood & metal paints
3. Marine coatings
4. Packaging coatings
5. Enamels
6. Distemper
7. Varnish
8. Putties
9. Oxides
10. Primers
11. Wall paints

2. Nippon Paints (1881, Tokyo, Japan)

Market Values and Other Information About Asian Paints

• Contact number: 044-4298 2222
• Email: [email protected]
• Headquarters: Tamil Nadu, India
• EBITDA: $1.077 billion (as of March 2022)
• Revenue: ₹8826 crores
• ROE: 24.17%

Nippon Paints was founded in Tokyo, Japan in 1881 by Mr. Moteki Jujiro. It has since then emerged as the largest manufacturer of paints in Asia. Its 140-year experience in the industry has proved useful in providing high-quality, eco-friendly, and innovative paints. It has been in the Indian market for 10 years and is becoming one of the best paint companies in India. Nippon Paints offers its customers the following services:

1. Wall paints
2. Primers
3. Emulsion paint
4. Construction Solutions
5. Wood & metal paints
6. Undercoats

In India Nippon has its presence in the following states:

1. Uttar Pradesh
2. Telangana
3. Tamil Nadu
4. Rajasthan
5. Punjab
6. New Delhi
7. Maharashtra
8. Madhya Pradesh
9. Kerala
10. Karnataka
11. Haryana
12. Gujarat
13. Chhattisgarh
14. Andhra Pradesh

3. AkzoNobel India (1792, Groningen, Norway)

Market Values and Other Information About Asian Paints

• Contact number: 033-22267462, 8336967462
• Email: [email protected]
• Headquarters: Amsterdam, Netherlands
• EBITDA: $1.764 billion (as of March 2022)
• Revenue: €8.53 billion (as of March 2022)
• ROE: 16.47%

AkzoNobel is a Dutch multinational company that owes its origin back to the late 18th century, much like our next brand on this list, Berger Paints. Wiert Willem Sikken started a small varnish and paints workshop in Groningen, the Netherlands in 1792 and later joined Nobel Industries in 1994. The Nobel Industries itself has a long rich history of its foundation. It was majorly owned by Alfred Nobel, the 19th-century Swedish inventor of dynamite.

The company now has a presence in over 80 countries with 32,000 employees and sales worth 8.5 billion euros. The company has a rich range of some of the most sustainable paints and coatings in India. They have several brands under them like Dulux, Sikkens, Marshall, Astral, etc, and here’s what they offer:

1. Wall paints
2. Powder coatings
3. Specialty coatings
4. Automotive coatings
5. Industrial coatings
6. Protective coatings
7. Marine coatings
8. Yacht coatings

4. Berger Paints (1760, United Kingdom)

Market Values and Other Information About Asian Paints

• Contact number: 1800 103 6030, +91 33 2229 9724
• Email: [email protected]
• Headquarters: Kolkata, India
• EBITDA: ₹365.56 crores
• Revenue: ₹8826 crores
• ROE: 24.17%

It was the idea of Lewis Berger to establish a paint company in 1760 in the United Kingdom, making it the oldest brand on this list. Its business expanded to India in 1923 at Hadfield’s (India) Limited, Howrah, West Bengal, and now ranks as one of the top best paint brands in India. The brand acquired the name Berger Paints India Limited in 1983 and had business revenues worth ₹2187.51 crores (as of March 2022). Headquartered in Kolkata, Berger Paints has 16 manufacturing units in India including:

1. Howrah
2. Rishra
3. Arinsal
4. Taloja
5. Natoli
6. Goa
7. Devla
8. Hindupur
9. Jejuri
10. Jammu
11. Puducherry
12. Udyognagar, etc.

Internationally the company has a presence in Russia, Poland, Bangladesh, and Nepal. The services they offer include:

1. Waterproofing
2. Wood and glass finishes
3. Painting tools
4. Wall coatings for exteriors
5. Wall coatings for interiors
6. Texture paints
7. Undercoats
8. Metal finishes

5. Asian Paints (1942, Mumbai, India)

Market Values and Other Information About Asian Paints

• Contact number: 1800-209-5678, 022 – 6218 1000
• Email: [email protected]
• Headquarters: Mumbai, India
• EBITDA: ₹58.56 crores
• Revenue: ₹262.60 crores
• ROE: 23.48%

Asian Paints is the partnership idea of 4 friends (Arvind Vakil, Suryakant Dani, Champaklal Choksi, and Chimanlal Choksi) in 1942. After 25 years, in 1967, it turned out to be one of the best paint companies in India and is today’s largest manufacturer of paints in the country. They manufacture industrial, as well as decorative paints and have a group turnover of about ₹500 crores (as of March 2022). They even launched a disinfectant and sanitizer line called ‘Viroprotek’. Asian paints currently operate in 15 countries:

1. Samoa
2. Ethiopia
3. Vanuatu
4. Solomon Islands
5. Fiji
6. Qatar
7. Oman
8. Bahrain
9. UAE
10. Egypt
11. Sri Lanka
12. Nepal
13. Indonesia
14. Bangladesh
15. India

The company offers you an option to choose from around 2200 colors. They also provide the following services:

1. Painting tools
2. Wood solutions
3. Waterproofing
4. Texture paints
5. Wall paints
6. Wood & metal paints
7. Wallpapers

6. Kansai Nerolac Paints Limited (1920, Mumbai, India)

Market Values and Other Information About Asian Paints

• Contact number: 1800 209 2092
• Email: [email protected]
• Headquarters: Mumbai, India
• EBITDA: ₹82.95 crores (as of March 2022)
• Revenue: ₹24.73 crores
• ROE: 13.50%

Kansai Nerolac is one of the best paint companies in India, founded as a small company named Gahagan Paints and Varnish. It grew famous as Goodlass Nerolac Paints in 1957 and became a subsidiary of Kansai Paint Co. Ltd. in 1999. With its hard work and commitment since its establishment in 1920 in Mumbai, they have emerged as a top name in the paints industry. It was only in 2006 that it changed its name to Kansai Nerolac Paints Ltd. Innovation and customer satisfaction is its secrets to success as a trustworthy brand offering the following services:

1. Wall paints
2. Hygiene care range
3. Nerolac Impressions
4. Metal enamel paints
5. Water-based emulsion paints
6. Primers
7. Metallic paints
8. Matte finish paints
9. Wood coatings
10. Putties
11. Adhesives
12. Waterproofing

7. Jotun Paints (1926, Sandefjord, Norway)

Market Values and Other Information About Asian Paints

• Contact number: +91 22 26848932,+91 226787 2100
• Email: [email protected]
• Headquarters: Sandefjord, Norway
• Indian headquarter: Mumbai, India
• EBITDA: 3465 (NCR-EBITDA)
• Revenue: NOK 8459 million (as of 2022)
• ROE: -5.56%

Jotun Paints was established in 1926 by Norwegian entrepreneur Odd Gleditsch Sen and now operates in over 100 countries around the globe. It has its presence as 40 production facilities in 23 countries. They have had 67 branches in 47 countries since it started growing internationally in the 1960s. The company offers services in four segments:

1. Protective coatings
2. Powder coatings
3. Marine coatings
4. Decorative paints
5. Hardtop design metallics
6. Green buildings solutions
7. Wall coatings

All these services are offered to various industries and sectors like

1. Energy
2. Shipping
3. Light industry
4. Infrastructure
5. Architecture and design
6. Homes

8. Akzo Nobel India Ltd

Financial metrics underscore the company’s robust performance:

• Total Sales: Rs 2,842 Cr
• Return on Equity (ROE): 15.97%
• Sales Growth (3 Years): 3.40%
• Promoter Holding: 74.76%
• Debt to Equity: 0.07
• Price to Book Value: 7.93

For more than 60 years, AkzoNobel India Ltd has solidified its presence in the Indian market, emerging as one of the paint companies in India in the paints and coatings industry. Boasting five operational sites strategically scattered across the nation and an extensive network of offices and depots, AkzoNobel has etched its name as the preeminent paint brand in India.

The company’s foray into the Indian market began with the acquisition of Imperial Chemical Industries Ltd., the holding company of ICI India Limited, by AkzoNobel NV. This strategic move, executed through a scheme of arrangement under section 425 of the UK Companies Act 1985, resulted in a nomenclature shift to its present identity, AkzoNobel India Limited.

In a calculated maneuver back in 2012, three other AkzoNobel Group entities operational in India were amalgamated under the umbrella of AkzoNobel India Limited. This strategic consolidation positioned the company as the exclusive integrated player in the Indian paints and coatings landscape, encompassing all facets of the industry, albeit with a relatively compact chemicals portfolio. The subsequent divestment of the chemicals business in 2018 marked AkzoNobel India Limited’s transition into a finely tuned and focused paints and coatings entity.

9. Sirca Paints India Ltd

Critical Financial Metrics:

• Total Sales: ₹157 Cr
• Return on Capital Employed (ROCE): 11.3%
• 5-Year Average Return on Equity (ROE): 26.6%

Established in the heart of New Delhi, Sirca Paints India Ltd traces its roots back to January 19, 2006, operating initially under the banner of Sircolor Wood Coatings Private Limited. The company’s trajectory has undergone a profound transformation, ultimately culminating in its present avatar as Sirca Paints India Limited.

Embarking on its journey with a humble business model centered around the importation of PU products from Italy and Korea, subsequent repackaging, and distribution through an in-house dealer network, Sirca Paints India Ltd has witnessed a continual surge in its growth.

In the current landscape, Sirca Paints proudly stands as the front-runner in wood coatings across northern India, extending its sustainable footprint into the southern and western regions.

The cultivation of trust and the establishment of faith are nuanced endeavors, and Sirca comprehends this reality acutely. Every product undergoes a rigorous, research-driven development process, meticulously crafted to cater to the diverse needs of the market. Acknowledging the sanctity of one’s home as a prized asset, Sirca Paints aspires to elevate it with coatings that withstand the test of time.

10. Indigo Paints

Established in 2000, Indigo Paints embarked on its journey with the production of lower-end Cement paints, gradually expanding to encompass various segments of water-based paints like Exterior Emulsions, Interior Emulsions, Distempers, and Primers. Over the years, the company swiftly extended its presence nationwide, emerging as a prominent player in the Indian paint industry, renowned for its innovative offerings previously unseen in the market.

With a total sales figure of ₹726 Cr and a robust ROCE of 24.6% and ROE of 18.6%, the company has consistently demonstrated its financial strength and stability. Indigo Paints’ visionary approach has led to the development of cutting-edge painting solutions, positioning it as a forward-thinking industry leader.

In response to evolving market dynamics, Indigo Paints redefined its identity, consolidating its various product brands under the unified umbrella brand “INDIGO,” reflecting a new era of progressive thinking and innovation within the company.

The Bottom Line: Which is The Best Paint Brand in India?

Painting your dream house is much more than just splashing on some colour. It also means decorating, colour matching, repairing damages, and protecting the walls from extreme weather, insects, dust, and more. The best paint brands in India offer just that! Brands like Nippon Paints, Asian Paints, Shalimar Paints, etc. are veterans in this industry and offer you the best solutions for your house so that you don’t make an uninformed decision.

Whether it is a building, office, or house you are going to paint, you must go through our curated list of the top paint brands in India. They feature advantages like aesthetics, pleasant smell, water resistance, fungus resistance, durability, and more.

Paint Brands in India FAQs