Techno Paints Ties Up With Italian Co To Set Up New Plant In Hyd

Hyderabad, August 24: City-based Techno Paints announced on Tuesday that it is setting up a new manufacturing plant for super-premium paints near Hyderabad in collaboration with an Italian company.

It will invest Rs 75 crore in the new facility. The company, which offers high-quality painting services apart from manufacturing and selling high-quality paints, is gearing up to celebrate its 20th anniversary on August 25.

Coming up at Cheryal near Patancheru on the Hyderabad outskirts, the fully-automated new plant, the sixth one for the company, will have a total annual capacity of 2 lakh metric tonnes, with phase one accounting for 1.5 lakh MT. It will set up 50,000 MT in the 2nd phase.

The company will raise funds for the plant from banks and also through private equity from reputed funding companies. The plant will generate 200 new jobs.

The types of paints to be manufactured at the new plant include super premium coatings, high-end luxury emulsions, decorative paints, special texture finishes, luxury and ultra-luxury emulsions, and designer finishes. In addition, metal and wood primers, as well as wood finishes, will also be made at the plant.

This new plant marks the entry of the Techno Paints brand into the super-premium segment. It will be the only manufacturer to make such super-premium finishes in India.

Currently, few companies are importing such paints, which cost as much as four times higher than the conventional varieties.

20 Years Of Journey

The company, which provides painting services across India, will complete 20 years in the painting business on August 25.

"On this special occasion of the 20th anniversary of Techno Paints, I really thank each one of our customers who has been associated with us throughout our journey.

You are the reason for where we are today. You are the reason for our success. On this special day of our company anniversary, we want you to know that your support and trust have been the biggest driver of our continued growth.

Giving you the best products and services is what motivates us to continuously improve our services," said Akuri Srinivas Reddy, founder of Fortune Group, which markets its products under the Techno Paints brand.

In the last 20 years, the company has completed 650 painting services contracts. At present, it has 120 projects in hand, with a total order book size of Rs 600 crore. The company, which is the market leader in the painting services segment in Hyderabad, is targeting 50 per cent turnover growth in this financial year 2021-22.

Techno Paints, which till now handled only large projects, will henceforth take up small and medium projects as well, besides re-entering the retail segment. "We are re-entering the retail business in South India and will gradually expand it to pan India," Srinivas Reddy said.

V Nageswara Rao, who has 35 years of experience in the painting industry, recently joined the company as Director-Sales and Marketing. He will spearhead the company's expansion into new segments and geographies across India.