Kamdhenu Group plans to minvestRs 200 crores to expand its paint business.
On August 22nd, Sathish Kumar Agarwal, Chairman and Managing Director of Kamdhenu Group talked about his plans for the company. The company aims to expand its paint business through an investment of Rs 200 crore. In addition, the company’s goal is to earn Rs 1,000 crore from its paint business over the next five years.
Demerger of paints division
The company plans to do the investment after the demerger of the paints division. The paints division will soon be a separate entity, after which Kamdhenu Group will proceed further.
CMD Aggarwal said the following.” We are waiting for regulatory approvals. I think the demerger of the paints business will be completed by November-December. After that, we plan to invest up to Rs 200 crore to expand it further.”
The paint industry in India is growing at an annual rate of 18 to 20%. Aggarwal says “We are aiming to achieve a revenue of over Rs 1,000 crore by FY26 from our paints segment, citing the rising market share of organized players”
Kamdhenu paints’ manufacturing plant is located at Chopanki in Rajasthan. There, it makes interior and exterior emulsions, strainers, and colorants. In addition, it also makes water-based specialty products like waterproofing chemicals, construction chemicals, and so on.
Furthermore, it outsources distempers, enamel, putty, and other medium and low range products from Rajasthan, Uttar Pradesh, Haryana, and Punjab.
The company has had sales between the range of Rs 200 to Rs 225 crore in the last financial year. Moreover, its shares have shown an upward trend. In the last 6 months, it has increased by 29.01% and in a year by 88.48%, showing signs of growth.