Top 10 Paint Companies In India 2021: Paints are an integral part of our daily life as they enhance the visual and even protect our daily life stuffs. With infrastructure improvement, the paint industry is growing rapidly in India. 

Most of the top paint companies are coming with innovative paint products that last longer and take the looks to the next level. So in this article, we are going to list the Top 10 Paints Companies in India in terms of market capitalisation.

1. Asian Paints

Asian Paints Ltd is India’s largest paint company with a market capitalisation of ₹2,40,293 crores and it is also Asia’s third-largest and World’s 9th largest paint company. The company and its subsidiaries are operating in 22 countries globally. It has 27 paint manufacturing facilities and manufactures a wide range of paints for individual and industrial use.

  • Total Sales: ₹20,211 crores
  • Market capitalisation: ₹2,40,293 crores

The company produces automotive decorative paints, interior Wall Finishes, Exterior Wall Finishes, Enamels, Wood Finishes and other industrial paints. Asian Paints Ltd generated a total sales of ₹20,211 crores in the financial year 2019-2020, making it one of the top 10 paint companies in India in 2021. [Data Source]

2. Berger Paints

Headquartered in Kolkata, Berger Paints India Ltd is the second largest paint company in India after Asian Paints. The company offers a variety of innovative painting solutions for decorative or industrial purposes. The company also has a very wide distribution network with about 110 stock points and more than certified 25000 dealers.

  • Total Sales: ₹6,366 crores
  • Market capitalisation: ₹73,808 crores

Berger Paints has manufacturing facilities in West Bengal, Uttar Pradesh, Pondicherry, Goa, and Jammu & Kashmir. The company has a market capitalisation of ₹73,808 crores and total sales stand at ₹6,366 crores, making it one of the top 10 paint companies in India in 2021. [Data Source]

3. Kansai Nerolac

Kansai Nerolac Paints Limited, a subsidiary of Japan-based Kansai Paint Co. Ltd is one of the largest paint company in India. It is the leader in the industrial paint segment. The company has five manufacturing units all over the country with a strong dealer network. The company produces a variety of paints products ranging from decorative paints coatings for homes, offices, and hotels to industrial coatings.

  • Total Sales: ₹5,280 crores
  • Market capitalisation: ₹30,629 crores

The company has a market capitalisation of ₹30,629 crores and annual sales stand at ₹5,280 crores, making it one of the top 10 paint companies in India. [Data Source]

4. Indigo Paints

Indigo Paints Limited is one of the largest paint companies in India and the fastest growing among the top five paint companies in India. The Company sells its paints by the brand of ‘Indigo’ and has a wide distribution network across 27 states and seven union territories of India.

  • Total Sales: ₹625 crores
  • Market capitalisation: ₹10,932 crores

The company recently launched its IPO and was a success. With a market capitalisation of ₹10,932 crores and total sales of ₹625 crores, it is one of the top 10 paint companies in India. [Data Source]

5. Akzo Nobel

Akzo Nobel India Limited, earlier known as ICI India Ltd is a paint and coating company operating in India. The company is a subsidiary of a Dutch multinational company Akzo Nobel N.V. The company sells decorative paint under the brand name Dulux. The company has a very wide distribution and dealer network across the country.

  • Total Sales: ₹2,662 crores
  • Market capitalisation: ₹10,128 crores

The company’s market capitalisation stood at around ₹10,128 crores and generates a total sales of ₹2,662 crores annually, makes it one of the top 10 paint companies in India in 2021. [Data Source]

6. Shalimar Paints

Shalimar Paints is an Indian company involved in manufacturing and marketing decorative paints and industrial coatings. The company was founded back in 1902 by two British entrepreneurs named AN Turner and AC Wright.

  • Total Sales: ₹344 crores
  • Market capitalisation: ₹503 crores

Shalimar Paints has a market capitalisation of ₹503 crores, listed in both NSE and BSE and total sales stand at ₹297.24 crores, makes it one of the top 10 paint companies in India. [Data Source]

7. Nippon Paints

Nippon paints India is a subsidiary of Nippon Paint Holdings Co., Ltd. and it was founded in Japan as Komyosha paints. It is one of the largest paint companies in India and manufactures products like Interior wall coatings, exterior wall coatings, Metal & Wood paints, Protective coating, Undercoats, etc.

  • Total Sales: N/A
  • Market capitalisation: N/A

The company is not listed in Indian stock exchanges, so we do not have its market capitalisation and annual sales figures.

8. Yug Decor

Yug Decor is a paint and other industrial product manufacturer operating in India. The company is listed in Indian stock exchanges and has a market capitalisation of ₹12 crores. The company’s annual sales clocks at ₹17.07 crores, making it one of the top 10 paint companies in India.

  • Total Sales: ₹17.07 crores
  • Market capitalisation: ₹12 crores [Data Source]

9. Hardcastle & Waud Mfg Co Ltd

Hardcastle & Waud Manufacturing Company is a manufacturer of powder paints used in powder coatings varnishes and synthetic resins. The company is listed in both NSE and BSE and its market cap stands at ₹11 crores with annual sales of ₹3.55 crores, making it one of the top 10 paint companies in India.

  • Total Sales: ₹3.55 crores
  • Market capitalisation: ₹11 crores [Data Source]

10. Sheenlac Paints

founded in the year 1962, Sheenlac paints is one of the top paint companies in India and it is headquartered in Chennai, Tamilnadu, India. Sheenlac paints manufacture products like auto finishing, thinner, wood polish products, wood finishing, and other decorative paints.

  • Total Sales: N/A
  • Market capitalisation: N/A

List of Top 10 Paint Companies In India

Paint CompanyMarket CapitalisationSales (2019-2020)
Asian Paints₹2,40,293 Crores₹20,211 Crores
Berger Paints₹73,808 Crores₹6,366 Crores
Kansai Nerolac₹30,629 Crores₹5,280 Crores
Indigo Paints₹10,932 Crores₹625 Crores
Akzo Nobel₹10,128 Crores₹2,662 Crores
Shalimar Paints₹503 Crores₹297.24 Crores
Nippon PaintsN/AN/A
Yug Decor ₹12 Crores₹17.07 Crores
Hardcastle & Waud Mfg Co Ltd₹11 Crores₹3.55 Crores
Sheenlac PaintsN/AN/A

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