Berger Paints is planning to invest Rs 2,700 crore over the next 5-6 years to double its revenue. The company is planning to add fresh capacity in Bengal, Odisha and the western part of the country as well as brownfield expansion to support growth.

Berger Paints had recorded a consolidated revenue from operations of Rs 10,568 crore in 2022-23. Within this, the protective coating business has crossed Rs 1,000 crore and construction chemicals, along with subsidiary STP Ltd, has also achieved revenues of approximately Rs 1,000 crore.

“On a consolidated basis, we crossed Rs 10,000 crore last year. Inspite of rising competition, we are quite confident of maintaining our growth rate and we expect in the next 5-6 years, we would be able to double our sales from the current level of Rs 10,000 crore to Rs 20,000 crore,” Abhijit Roy, MD and CEO, Berger Paints, told shareholders at the company’s 99th annual general meeting virtually held on Friday.

“It took us almost 100 years to reach Rs 10,000 crore and if we are going to add another Rs 10,000 crore in the next 5-6 years we need to have the capacity for supplying the market,” he said.

The company’s proposed plant at Panagarh is expected to be commissioned in 2025-26 and would involve an investment of around Rs 400 crore. Along with brownfield expansion, the cumulative investment in the state could be to the tune of around Rs 600 crore. The company is also planning to come up with a new plant in Odisha and is yet to decide between Maharashtra and Gujarat on the location of the proposed plant in the western part of the country.

In February, Berger had commenced the company’s biggest plant at Sandila in Uttar Pradesh to manufacture products across categories.

Berger Paints chairman Kuldip Singh Dhingra told shareholders at the AGM that despite the company facing geo-political headwinds on its international business, the situation has started to normalise.