Mumbai, India
www.jswpaints.in
PUBLIC COMPANY; YEAR ESTABLISHED 2019
REVENUE: $194 million
MARKETS SERVED:
Decorative coatings, Coil coatings
KEY EXECUTIVES:
A. S. Sundaresan
JSW Paints, one of the latest entrants in Indian paint and coating industry, is part of the diversified $23 billion JSW Group.
Launched in May 2019, JSW Paints registered sales revenue of $194 million in financial year 2023. The company currently has two manufacturing units: an industrial coatings facility at Vasind in Maharashtra and decorative paints facility at Vijayanagar in Karnataka, with a combined capacity of 150,000 KL per annum. The company has a capacity of 100 million liters in the decorative segment with a utilization rate of 50 percent, while it has a 50 million liter capacity in the industrial segment with a utilization rate of 70 percent.
The company’s revenue sees equal contribution from both the industrial and the decorative paints segments. In the industrial segment, coil coatings have become a major earner for the company.
“Today, we are certainly the largest coil coating player in India. We are the first Indian company to have developed our own technology in this segment and commercialized it,” according to company’s management.
The company has enhanced its market presence across the country to achieve a market scale and coverage of more than 60% of TIER I, II and III towns. The company continues to increase its retailer network with the addition of more than 2,000 retailers every year. The growth in this network has been due to better market penetration in new clusters across existing large cities nationwide.
