Kolkata, Aug 26 (PTI) Berger Paints Ltd is looking to operationalise the fully-automated paints manufacturing plant near Lucknow in November, a top company official said on Friday.
The total investment in the plant will be around Rs 1,000 crore against an earlier estimate of Rs 800 crore, and the cost overrun is due to the addition of a few new product lines and higher construction material prices.
“The Sandila factory (Lucknow) is nearing completion. We expect to operationalise it by November this year,” Berger MD & CEO Abhijit Roy told shareholders at its 98th annual general meeting.
He also said the company will take a 1.5-2 per cent price hike from September 1 in the low-end decorative space to offset raw material cost inflation.
Elaborating on organic expansion plans, he said once the Lucknow plant is complete, Berger Paints’ engineering team will work on the Panagarh greenfield chemical factory.
The company had recently secured 30 acres of land at the Panagarh Industrial Park in West Bengal for manufacturing industrial resins, construction chemicals and paints.
Berger Paints Chairman K S Dhingra later told reporters that it remains open to acquisition of small to medium-sized firms.
Roy added that the company was aiming at crossing the Rs 10,000-crore topline figure this fiscal.
In 2021-22, it had clocked revenues of Rs 8,700 crore. PTI BSM RBT RBT
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