The total investment in the plant will be around Rs 1000 crore against earlier of Rs 800 crore and the cost overrun is due to the addition of a few product line and higher construction material prices.
Berger Paints Ltd is looking out to optionalise the fully automated paint manufacturing plant near Lucknow in November. 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 material prices.
“The Sandila factory in Lucknow is nearing completion. We expect to operationalise it by November this year Berger MD & CEO Abhijit Roy, “said. He also said the company will take a 1.5-2 per cent hike from September 1 in the low-end decorative space to offset raw material cost inflation.
Elaborating on the 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 has 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 KS Dhingra said that it remains open to acquisition of small to medium-sized firms. Roy added the company was aiming at crossing the Rs 10,000-crore topline figure the fiscal. In 2021-22 it had clocked the revenue of Rs 8,700 crore.
