JSW Paints, the paints arm of Sajjan Jindal-led JSW Group and the latest entrant in the paints industry will set up an integrated unit at Salboni in the next three years as announced by group chairman Sajjan Jindal at the Bengal Global Business Summit earlier. The company will spend Rs 300 crore on the unit. Presently, the company has a plant at Vijayanagar in Karnataka.
JSW has entered the Bengal market as part of its national scale-up. Launched in 2019, JSW Paints has so far established a strong presence in the south and west markets. It is now scaling up operations in the north, central and east regions to become a pan-India player. JSW is aiming at 5% market share with a revenue of Rs 2,000 crore from decorative paints in the next three years. By FY2026, the company is eyeing market share of 10%. Currently, JSW Paints has a 1.5-2 per cent market share in the southern and western parts of the country.
JSW already has a strong presence in industrial oil coating and is a leader in steel coils with 40% market share. The industrial oil coating is a Rs 800 crore market and steel coils is part of that. The company now has a revenue of Rs 700 crore and hopes to reach break-even by 2023-24.
JSW Paints will be focussing on standalone paint stores to expand its distribution and is targeting to double retailer count to 4,000 stores from 2,000 by the end of this year. Further, at the group level, a shoppe model is being worked out, where steel, cement and paint from the JSW stable will be sold, targeted towards individual home builders.