After launching a new range of construction chemicals and new roof paint under its Home Shield banner, Paint major Berger Paints India has forayed into the construction chemicals sector.
There are eight to 10 big players in the sector, including some multinationals. The company hopes to develop this new sector significantly and fulfill its sales target of Rs 25 crore during the first year of operation in 2012-13 which is to turn into Rs 100 crore in next three years.
After the launch in eastern region, the company would release the product in Kerala, Andhra Pradesh and then in Gujarat and Maharashtra. The company’s plan is to double the production capacity from the present 2.5 million tonne by 2013.
Berger Paints’ consolidated net profit has increased by 11.74% to Rs 49 crore for the third quarter ended December 31, 2011, vis-a-vis the same period last fiscal. The company had posted a net profit of Rs 43.85 crore for the quarter ended December 31, 2010.
