Berger Paints, India's second-largest paint manufacturer, is responding to increased competition from new entrants like JSW Group and Aditya Birla Group by focusing on strategic expansion and a "boring but consistent" approach. The company aims to "grind" its way upwards by strengthening its brand, expanding distribution in under-penetrated markets (especially the south and west), and growing its construction chemicals, waterproofing, protective coatings, and general industrial paint businesses. This strategy includes expanding its exclusive retail stores, with around 1,900 Berger Exclusive and Berger Kolor N Style stores currently in operation, and over 700 additions planned for 2025–26.
Berger Paints maintains a 14% market share in the decorative paints segment, even as dominant player Asian Paints saw its share drop from 53% to 47% between 2022–23 and 2024–25 due to the new competition. The company emphasizes profitability and growing better than the industry rather than solely focusing on market share. While it walked away from a potential $1.08 billion acquisition of AkzoNobel India due to valuation concerns, JSW later acquired it for approximately $1.08 billion (₹8,986 crore), and Birla Opus committed $1.2 billion (₹10,000 crore) to scale rapidly. These new competitors, particularly Birla Opus and JSW Dulux, have substantial financial backing and are targeting regions where Asian Paints and Berger Paints have traditionally been strong.
To support its growth, Berger Paints has steadily increased its capacity, commissioning a facility in Sandila (Uttar Pradesh) in 2023 with a $131.6 million (₹1,097 crore) outlay, adding 400,000 kiloliters annually. Further investments exceeding $228 million (₹1,900 crore) are planned for projects in Panagarh (West Bengal) and Odisha. These expansions are expected to boost overall capacity by 60% compared to 2022–23, largely funded through internal accruals, with low borrowing. Despite the intense competitive environment, Berger Paints' CEO expects double-digit revenue growth to continue through FY27, driven by price hikes and sustained demand from housing, infrastructure, and automotive sectors.
