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Best Paint Stocks in India

06 September 20236 mins read by Angel One
The paint industry was never more in the limelight until now, and it’s ready to pick up as home improvement rapidly evolves. Investors can diversify their portfolios with the best paint stocks in India today.
Best Paint Stocks in India
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The paint sector in India is rapidly evolving but is often ignored when it comes to investment. Some of the best paint stocks in India today support the fast-growing industries – home improvement. Recently, the industry has been vibrant and is poised for further expansion due to the real estate sector heating up. Of course, as infrastructure is on the rise, the paint industry is bound to ride on this bandwagon, too. 

Notably, while competition within the paint industry is increasing, Asian Paints held the distinction of having the highest market share as of 2020. It holds a key position even today. The key players in the Indian paint industry today are Asian Paints, Berger, and Kansai Nerolac, among others. According to estimates, the paint and coatings industry of India will be worth USD 8.73 billion in 2023, with expectations to surge by 2028. In 2023, when people in India consider investment, their focus tends to gravitate toward familiar sectors like technology and fintech. Paint, on the other hand, is often overlooked, and it may be time to reconsider.

The Best Paint Stocks in India – 2023

By now, you may have grasped the importance of the paint industry in India, in terms of investment in 2023. Notably, the use of nanotechnology in the coatings and paint industry is predicted to offer many opportunities for growth in the market of paints. So without further ado, here are the top paint stocks to invest in India today.

Name of Company Market Capitalisation 

( in cr.)

Stock P/E  3-Year CAGR 5-Year CAGR
Asian Paints 3,09,408.61 66.43 18% 18%
Berger Paints 68,301.35 72.16 8% 15%
Kansai Nerolac Paints 26,142.69 48.38 0% -1%
AkzoNobel India 12,628.90 34.31 9% 10%
Indigo Paints 7,290.77 50.87 20% 21%
Shalimar Paints 1157.27 28% 10%

Note: The best paint stocks in India listed here are as of August 24th, 2023.

  • Asian Paints

A key player in the paint industry in India, Asian Paints has enjoyed the top slot in the list of best paint companies in India. One of the largest paint companies, with operations that began in 1942, it adopts the latest technologies in the paint industry to stay ahead of the competition. It began with humility when four friends started the company in a small garage. 

  • Berger Paints

With its headquarters in Kolkata, Berger Paints is a leader in India’s dynamic paint industry. The company operates more than 10 plants across the country and shows robust growth potential. 

  • Kansai Nerolac Paints

Previously just called Nerolac Paints, this is one of the oldest and most reputed paint companies in India, beginning its operations as far back as the 1920s. 

  • AkzoNobel India

One of the leaders in the Indian paint Industry, the company has had a strong presence in the Indian market for more than 50 years. Since the company acquired the holding company of ICI India Limited, it has proved to be a stable contender in the Indian paint industry. 

  • Indigo Paints

With relatively small beginnings compared to paint giants like Asian Paints, Indigo Paints saw its entry into the paint industry as recently as 2000. Beginning its journey with the production of affordable cement paints, it has expanded to produce all kinds of paint, primers, and distempers. 

  • Shalimar Paints

Shalimar Paints holds the unique spot of being the oldest Indian paint company, founded in 1902. It has a wide distribution network in the Indian paint industry and is leaping towards growth. 

Pick Your Players in the Paint Industry

Besides the leading paint companies mentioned, there are some more names to take note of, such as JSW Paints, Sirca Paints, and Grasim Industries. Some of these have arisen from flagship companies in other sectors, while some are pure paint businesses with a long-standing reputation. Choosing any company in the paint industry for investment is likely a solid choice in the long run, given their ongoing growth. Use Angel One to open a free demat account and research paint stocks in India in-depth. 

FAQs

Which is the best company in the paint industry to invest in?

The paint industry is an emerging and growing industry in the Indian investment ecosystem. There are leaders in the industry like Berger and Asian Paints, as well as other companies like Sirca Paints you can look into for investment.

What is the future of the paint industry in India?

The future of the paint industry in India, by many industry estimates, is potentially bright, and you can be a part of it by investing in big names like Asian Paints. By 2028, the industry is set to witness significant growth.

Which is the best paint stock to invest in for the long term?

Investment largely depends on your individual investment goals and financial plans. Given this, you may check some stocks like those of Asian Paints, Kansai Nerolac, and more and decide which stocks align with your unique investment objectives. 

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations

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