Berger Paints spurts on plan to invest around Rs 500 crore for capacity expansion

07 Sep 2016

Berger Paints India is currently trading at Rs 262.75, up by 0.80 points or 0.31% from its previous closing of Rs 261.95 on the BSE.

The scrip opened at Rs. 263.20 and has touched a high and low of Rs. 264.50 and Rs. 261.85 respectively. So far 4311 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 271.60 on 01-Sep-2016 and a 52 week low of Rs. 149.94 on 08-Sep-2015.

Last one week high and low of the scrip stood at Rs. 271.60 and Rs. 256.85 respectively. The current market cap of the company is Rs. 25509.58 crore.

The promoters holding in the company stood at 74.98%, while Institutions and Non-Institutions held 14.52% and 10.50% respectively.

In order to expand capacity and setting up new units over the next three years till FY20, Berger Paints India is reportedly planning to invest around Rs 500 crore. The company is expected to increase capacity by around 25% or by 10,000 tonne per month across both decorative and industrial paints.

Currently, the total capacity stands at around 32,000 tonnes per month for decorative paints and at 6,000 tonnes per month in the industrial paint category.

Besides, expansion will be carried out at Jejuri (Maharashtra) and Hindupur (Andhra) units. The total capacity addition across these two units will be around 6,000 tonnes per month. Berger will also set up a mixing unit at Gujarat at a cost of Rs 10 crore, while an emulsion unit (the basic raw material required for paint) will come up at Rishra (West Bengal) at an estimated cost of Rs 25 crore.

Berger Paints India is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint company, quarter on quarter, for the past few years.

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