Kamdhenu Group plans Rs 200 crore investment to expand paints business
The company’s Chairman and Managing Director (CMD), Satish Kumar Agarwal, said that the Kamdhenu Group, the Buildings material maker, plans to invest Rs 200 crore in expanding its paint business.
He told that, “The group’s objective is to collect a revenue of Rs 1,000 crore from the paints segment in the next five years. The action would be taken after the demerger of the paints division into a separate entity, and the demerger is predicted to be completed by November-December this year.”
Agarwal told, “They are waiting for the approvals. He thinks the paint business demerger will be completed by November-December and that they plan to invest up to Rs 200 crore to expand it further after that.”
The manufacturing plant of Kamdhenu paints is at Chopanki in Rajasthan. It makes stainers, designer paints, waterproofing chemicals, interior and exterior emulsions, colourants, construction chemicals and other water-based speciality products.
Additionally, it outsources medium and low range products such as enamel, distempers and putty from manufacturing units in Uttar Pradesh, Punjab, Rajasthan and Haryana.
The sales of the company were in the range of Rs 200 crore to Rs 225 crore during the last financial year.