Berger Paints hopes to double its Russian unit's topline in 2018
Buoyed by paint contracts for three World Cup venues and two airports in Russia, Berger Paints is hoping to double its topline in the Russian venture this year, a company official today said. "Berger Paints Russia was not getting much attention. In the last year, the Russian unit's topline was just Rs 7-8 crore. But, the order for the three world cup venues and two airports will help the turnover reach Rs 15-16 crore in the current fiscal," Berger Paints Managing Director Abhijit Roy said here today. He claimed that an in-house silicon based coating technology, developed some four years ago, was behind winning of the latest orders in Russia. "We are in the process of setting up a team for the Russian company and also scouting for acquisitions if the opportunity comes through," Roy said. Berger's overseas business is generated from Nepal, Poland and Russia. With Rs 450 crore, the contribution from its overseas business accounts for about 10 per cent of Berger's total revenues. Berger is open to acquisition of firms in a range of Rs 70-200 crore offering distribution and brand strength, Roy said.
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