Indigo Paints is planning to commission water-based paint plant in Tamil Nadu which is expected to be commissioned in Q3 FY 2022-23

Hemant Jalan, Chairman & Managing Director, Indigo Paints Limited said, "We are progressing well on the construction of our new water-based paint plant in Tamil Nadu with civil construction and now machinery installation in full swing. As mentioned earlier, we expect to commission this plant in Q3 of this fiscal. Our expansion of distribution network and printing machine population continues as before except that it is now targeted more towards tier 1 and tier 2 towns. In the last quarter we have launched a few more products at the budget end of exterior emulsions and distempers, all of which are doing very well."

Talking about volume and value growth, Hemant Jalan said, "We have given our volume and value growth numbers for each of the four major categories of paint products, consistent with our past pattern of transparent disclosure. We are happy to note that the emulsion category, which is the largest segment by value, contributes almost half the value sales for any paint company that segment has registered a volume growth of 34.4% and a value growth of 65.7%. This is the second successive quarter where the emulsion category has registered high volume growth and this augurs well for future growth of the company."

"The category in enamels and wood coatings and the category of powder paints, which is mainly putty, have also registered healthy volume growth. The only minor disappointment for us has been the low volume growth in the primer and distemper category, where we will attempt to accelerate growth by higher promotional activities in the coming quarters," commented Jalan. 

"Now, we had mentioned in our last earnings call that we as a company are disappointed that our topline growth has largely been in the industry band of topline growth and we have not been outperforming the growth rate of the paint industry as was expected of us," added Jalan.