Berger Paints

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Berger Paints India Limited
Berger
Company type Public
ISIN INE463A01038
Industry Chemicals
Founded17 December 1923;100 years ago (1923-12-17)
Headquarters
Kolkata, West Bengal
,
India
Key people
Products
RevenueIncrease2.svg₹11,262 crore (US$1.3 billion) (2024) [1]
Increase2.svg₹1,557 crore (US$190 million) (2024) [2]
Increase2.svg₹1,170 crore (US$140 million) (2024) [3]
Total assets Increase2.svg₹8,369 crore (US$1.0 billion) (2024) [4]
Total equity Increase2.svg₹5,389 crore (US$650 million) (2024) [4]
OwnersDhingra family (75%)
Number of employees
3,600 (2020)
Website bergerpaints.com

Berger Paints India Ltd is an Indian multinational paint company, based in Kolkata. [5] This company has 16 manufacturing units in India, [6] 2 in Nepal, and 1 each in Poland, Russia and Pakistan. [7] It has manufacturing units at Howrah, Rishra, [8] Arinso, Taloja, Naltoli, Goa, Devla, Hindupur, [9] Jejuri, [10] Jammu, [11] Puducherry and Anand. The company has presence in six countries – India, Pakistan,Russia, Poland, Nepal and Bangladesh. It has an employee strength of over 3,600 and a countrywide distribution network of more than 25,000 dealers. [12]

Contents

As per Forbes list of India’s 100 richest tycoons, dated OCTOBER 09, 2024, Kuldip Singh & Gurbachan Singh Dhingra are ranked 38th with a net worth of $7.5 Billion. [13]

History

European

In 1760, Louis Berger started a dye and pigment manufacturing business in England, which later changed to Louis Berger & Sons Limited. In 1770, Louis Steigenberger shifted from Frankfurt to London to sell a Prussian blue colour, which was made using his own formula. He perfected this process & art of the blue colour, which was the colour of most military uniforms of that time. He then changed his name to Lewis Berger. By 1870, Berger Paints was selling 19 different pigments such as black lead, sulphur, sealing wax and mustard. After his death, his sons took over the business. [14] [15] [16] [17] [18] In the UK, the company, which by then was known as Berger, Jenson and Nicholson, was acquired by Hoechst AG in 1970 and by Williams Holdings in 1988. [19]

Indian subcontinent

On 17 December 1923, Mr. Hadfield set up Hadfield's (India) Ltd., a small paint company in Calcutta. [16] Towards the end of 1947, British Paints acquired Hadfield's (India) Ltd and thus British Paints (India) Ltd was incorporated in the State of West Bengal. [20] In 1951, sales offices were opened in Delhi and Bombay and a depot was started in Guwahati. In 1969, Berger Jenson Nicholson Limited, UK bought British Paints (India) Ltd. This marked the beginning of Lewis Berger's legacy in India. [20] In the year 1973, D. Madhukar took over as the managing director. Sales figures reached over ₹16 crore by 1978. [21] The 80s, and the 90s, saw the launch of many new products such as emulsions and distempers. In 1991, UB Group sold the company to Kuldip Singh Dhingra, a shopkeeper from Amritsar, and Gurbachan Singh Dhingra. [22] [23] Subir Bose took over as managing director on 1 July 1994. [24] Bose retired on 30 June 2012, handing over the company to Abhijit Roy, the current managing director. [25]

In March 2013, Berger Paints acquired Mumbai-based architectural paints division of Sherwin-Williams. [26] In 2021, Berger Paints set up their plant in Sandila, Uttar Pradesh. [27]

Pakistan

On 25 March 1950, Berger Paints Pakistan Limited was incorporated in Pakistan. In 1955, the Karachi factory was established. In 1974, Berger Pakistan became a public limited company. In 1974, Berger Pakistan 50.62% shares were held by Jenson & Nicholson Limited (U.K. parent company), 49.38% shares were held by Pakistani investors. In 1991, Slotrapid Limited, a British Virgin Island company, acquired control of Berger Paints Pakistan Limited by purchasing 50.62% shares of the company. [14] [15]

Bangladesh

In the geographical region of Bangladesh, Berger Paints were imported from Berger UK and then from Berger Pakistan. In 1970, the Kalurghat, Chittagong factory was inaugurated. In 1980, the name of the company changed from J&N (Bangladesh) Limited to Berger Paints Bangladesh Limited. [17] [18]

Operations

Apart from operations in Russia and a production facility at the Berger manufacturing unit at Krasnodar, Berger Paints India also has an operational unit in Nepal. They have also acquired Bolix SA of Poland, a provider of External Insulation Finishing Systems (EIFS) in Eastern Europe. [28] [29]

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References

  1. ↑ "Berger Paints India Balance Sheet, Berger Paints India Financial Statement & Accounts". moneycontrol.com.
  2. ↑ "BSE Ltd. (Bombay Stock Exchange) | Live Stock Market updates for S&P BSE SENSEX, Stock Price, Company News & Results". www.bseindia.com.
  3. ↑ "Berger Paints India Consolidated Profit & Loss account, Berger Paints India Financial Statement & Accounts". www.moneycontrol.com.
  4. 1 2 "Berger Paints India Balance Sheet, Berger Paints India Financial Statement & Accounts". moneycontrol.com.
  5. ↑ "Berger Paints India Q3FY16 standalone net profit rises 38% yoy to Rs. 101 crore : Misses Estimates". www.indiainfoline.com. Retrieved 21 April 2020.
  6. ↑ "Berger Paints India Ltd" – via Business Standard.
  7. ↑ "Berger Paints India Stock Price, Share Price, Live BSE/NSE, Berger Paints India Bids Offers. Buy/Sell Berger Paints India news & tips, & F&O Quotes". moneycontrol.com.
  8. ↑ "Berger Paints plans ₹60 cr. for Howrah, Rishra units". The Hindu. 4 August 2017. ISSN   0971-751X . Retrieved 2 March 2018.
  9. ↑ "Berger Paints opens Hindupur plant in Andhra Pradesh". The Economic Times. 2014. Retrieved 2 March 2018.
  10. ↑ "Berger Paints commences production at Jejuri plant". @businessline. Retrieved 2 March 2018.
  11. ↑ "Berger builds paint plant in Jammu & Kashmir" . Retrieved 2 March 2018.
  12. ↑ "Berger Paints unveils new initiative for residential buildings". thehindubusinessline.com. 16 September 2015.
  13. ↑ "India's 100 Richest". India’s 100 Richest. 9 October 2024.
  14. 1 2 "Berger Paints Pakistan Limited".
  15. 1 2 Hussain, Dilawar (26 September 2016). "Painting the future bright". DAWN.COM. Retrieved 2 April 2022.
  16. 1 2 "Berger Paints India Limited".
  17. 1 2 "History and Milestones - Berger Paints Bangladesh". 26 April 2021. Retrieved 2 April 2022.
  18. 1 2 "Berger Paints Bangladesh Limited".
  19. ↑ "Berger, Jenson and Nicholson, Paint Makers Records". National Archives. Retrieved 23 March 2024.
  20. 1 2 "The Economic Times". indiatimes.com.
  21. ↑ "Berger Paints India > Company History > Paints & Varnishes > Company History of Berger Paints India – BSE: 509480, NSE: BERGEPAINT". moneycontrol.com.
  22. ↑ Karmali, Naazneen. "Dhingra Brothers Of Berger Paints Enter Ranks Of India's Richest As Shares Soar". forbes.com.
  23. ↑ Bhasin, Sonu. "How Kuldip Singh Dhingra, a 'shopkeeper' from Amritsar, bought Berger Paints from Vijay Mallya". Scroll.in. Retrieved 22 February 2023.
  24. ↑ "Stocks". bloomberg.com. 20 May 2023.
  25. ↑ indiainfoline.com. "Abhijit Roy, Chief Operating Officer, Berger Paints India Ltd". indiainfoline.com.
  26. ↑ Somvanshi, Kiran Kabtta. "Berger Paints: Sherwin Williams unit buy is a strategic fit". The Economic Times. Retrieved 2 April 2022.
  27. ↑ "Berger's new unit at Sandila to help improve margins, profitability". The Hindu BusinessLine. 7 February 2023. Retrieved 23 March 2024.
  28. ↑ Reporter, B. S. (30 April 2008). "Berger Paints acquires Polish firm for Rs 154 cr" – via Business Standard.
  29. ↑ "Berger Paints India to set up plant in Russia – The Economic Times Video – ET Now". indiatimes.com. 19 February 2015.
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