Asian Paints doubled its manufacturing capacity at its Mysuru factory to 600,000 KL annually at an investment of Rs 1,305 crore. The company is now the biggest paint manufacturer in the nation, with a total annual production capacity of 21,50,000 KL as a result of this development.
As to the company’s exchange statement on Monday, the Mysuru plant was set up in 2018 with an annual production capacity of 300,000 KL. Presently, it is functioning at approximately 78% capacity utilization.
“This is the first working day that the intimation has been submitted following the necessary approval for the said increase from the Karnataka State Pollution Control Board, Bengaluru,” the statement said.
Asian Paints emphasized that this growth will assist in fulfilling the organization’s medium-term needs. The company is expanding its production capacity at its Ankleshwar factory in addition to its Mysuru unit, with completion anticipated this year. At Kasna and Khandala, additional capacity expansions are currently in progress. When completed, the total production capacity is anticipated to reach 2,270,000 KL annually.
In addition, Asian Paints is building a new 400,000 KL annual capacity water-based production facility in Madhya Pradesh. It is anticipated that this facility will be finished by 2028.
As per a recent analysis by CRISIL Ratings, it is anticipated that the organized paints sector in India will almost double its production capacity to 7.8 billion liters annually between 2023 and 2027 (April–March).
A significant new entrant is expected to contribute significantly to this expansion, which will require an investment of almost Rs 19,000 crore, as per CRISIL. This year alone, it is expected that over 2.4 billion liters of additional capacity will come online.
The new “Birla Opus” brand was introduced by the Aditya Birla Group to the paint industry in February. Six manufacturing units totaling 1,332 million liters have been developed by the business. The three-year goal of Aditya Birla Group is to turn a profit and become the second-biggest paint company in India.
