[ad_1]
The company has invested Rs 40 crore in this leased facility employing 150 people and plans to create its own unit in the next two to three years, said Friday the CEO of Maestria Paints India Ltd., V Nageswara Rao.
The Cheriyal unit, near Isnapur, Hyderabad, has a capacity of 20,000 tons per year, which can be increased to 40,000 tons per year. The company intends to pump in a total investment of around Rs 200 crore into the Indian market in the future, he added.
"The Indian paint market is valued at around Rs 50,000 and has a CAGR of 12.3%, which suggests a lot of potential and has decided to enter the market. , the paint market is growing at a CAGR of 5.3% In India, growth can be attributed to strong GDP growth and the boom in the real estate market. It is also very low (3.6 kg) compared to world per capita consumption (15 kg), so there is a huge scope and a much faster growth potential, "he explained.
In choosing Hyderabad, Mr. Rao said that it was an ideal location to supply the markets of the south and west of the country, as these two companies represent alone more than 62 to 65% of the activity.
During the first year of operation, the company will market its products in Telangana, Andhra Pradesh, Maharashtra and Karnataka and hope to record a turnover of Rs 50 crore and bring it to Rs 250 crore over the next five to six years.
Speaking of the proposed new facility that the company intends to put in place after two to three years, Rao said that it would take 8-10 acres for which he will tend the hand to the state government in the short term.
The company has expertise in decorative, industrial, flooring and road marking paints and a presence in more than 25 countries.
Source link
