sheenlac paints
chennai - based sheenlac will invest rs50 crore into the operations of jenson and nicholson paints pvt. ltd .
chennai - based sheenlac paints is planning to ramp up its presence in the eastern and north eastern markets through its recently formed joint venture with the city - ased jenson & nicolson. in mid - 2016, sheenlac had announced the formation of a special purpose vehicle jenson & nicolson pvt ltd. while j & n holds 51% of the equity of jnipl, the balance is with sheenlac. “j & n is a reputed brand and we will market its decorative paints across eight brands mainly in the eastern and north eastern markets, ” ceo, sheenlac paints, mr. sridhar krishnamoorthy told the hindu adding that j & n’s tagline, “whenever you see colour, think of us, ” still had a vivid recall .
as for the ailing j & n, only one of the units of india’s second oldest paint company is now operational. this unit, located in sikandarabad, will also house the new joint entity. while j & n makes decorative and industrial paints, sheenlac makes decorative paints and wood finishes. the company said that it was the first to introduce thinners in pet bottles .
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chennai: to tap the decorative paint industry, paint manufacturer sheenlac ltd today said it has formed a joint venture with another paint maker jenson and nicholson. sheenlac paints will hold a 49 per cent stake in the newly - formed entity - - jenson and nicholson paints pvt ltd - - while jenson and nicholson will hold the majority 51 per cent stake. the two companies pooled in rs 10 crore to set up the venture in the initial phase. the jv has set a target revenue of rs 100 crore for next year, sheenlac paints ltd ceo sridhar krishnamoorthy told reporters here .
we have held discussions during the last five years and arrived at a structured deal now. the investments in the jv will be rs 50 crore over a five - year period. the target revenue from the new entity will be rs 100 crore ,
he said. jenson and nicholson india ltd president, anant sinha said ,
we are excited with the joint venture. through it, both the companies will sell decorative paints in the domestic market .
noting that the decorative paint industry accounts for about rs 30, 000 crore business in the country, krishnamoorthy said ,
as a group, sheenlac paints and jenson and nicholson pvt ltd, we are looking at target revenues of rs 750 crore .
in this joint venture, jenson and nicholson are bringing their brand, while sheenlac paints is bringing its distribution network
, he added. sheenlac paints has about 15, 000 sales touchpoints across india. the company has three manufacturing facilities in tamil nadu with a total capacity of 1 lakh kilo litres per year. krishnamoorthy said the jv company would serve only the domestic market .
over the next couple of years, chennai - based sheenlac will invest rs50 crore into the operations of jenson and nicholson paints pvt. ltd, while jenson and nicholson will provide intellectual capital, including its brands such as robbialac, decor, rainbow, safeguard and special effects .
kolkata: sheenlac paints ltd, which entered into a 49: 51 joint venture (jv) with jenson and nicholson india ltd last year, may seek to buy out its partner once the jv company scales up its revenue to rs350 crore in five years, chief executive officer sridhar krishnamoorthy said on wednesday .
sheenlac initially wanted an equal stake in the jv, but that did not work out. however, the jv agreement has a provision allowing sheenlac to raise its stake or bring in a strategic partner in five years, krishnamoorthy said .
although a minority partner, sheenlac has management control of the jv. both partners have equal representation on its board .
manoj sood, national head of sales, j & n india, said that brand power of jnil combined with the reach of sheenlac is expected to result in greater momentum for both the companies .
while holding about 35% of the ₹8, 000 - crore paint market in the south, sheenlac is hoping to move three notches up from its present no. 6 position within the next five years. it has four units in the south with a combined capacity of 1 lakh kilo litres annually .
“throughout its five decades of existence, sheenlac has expanded mainly through organic growth. . now it sees alliances as the way forward…. this (the jv) was a strategic move to gain traction in markets which are highly competitive like the north east, ” mr. sridhar said earlier at a press conference .
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mr. sridhar said that the ₹35, 000 - crore indian paint industry is growing between 12% and 13% annually and the low per capita paint consumption at a little over 4 kg had good growth potential .
in its first year of operation, the jv had targeted revenue of rs100 crore. “we have met 70 - 80% of the target, ” krishnamoorthy said.
sheenlac paints is an indian paint company headquartered in chennai , india . it manufactures paints , thinner and wood polish products for decorative and industrial use . it is rated a4 by crisil . sheenlac paints is among top 5 paint companies in india . early history it all began in the year 1960s . in 1962 , mr. john peter ( founder and chairman of sheenlac ) started manufacturing thinner and wood polish products under the brand name " sheenlac “ . in 1970 , mr. paul peter joined the organization , as factory director and was responsible for launching wood polish with a non-alcoholic base for the first time in india . this was followed up in 1973 with the launch of wood polish in hdpe bottles – this small pack was again a first of its kind in the indian market . in 1983 , the same year in which india won the cricket world cup for the very first time , sheenlac struck a hattrick of sorts with the launch of thinners in pet bottles – first of its kind in the indian market ! in 1990 , mr. sudhir peter joined the organization as sales director and he was instrumental in sheenlac receiving many certifications .
sheenlac paints is an indian paint company headquartered in chennai, india. it manufactures paints, thinner and wood polish products for decorative and industrial use. it is rated a4 by crisil. sheenlac paints is among top 5 paint companies in india. early history it all began in the year 1960s. in 1962, mr. john peter (founder and chairman of sheenlac) started manufacturing thinner and wood polish products under the brand name " sheenlac “. in 1970, mr. paul peter joined the organization, as factory director and was responsible for launching wood polish with a non-alcoholic base for the first time in india. this was followed up in 1973 with the launch of wood polish in hdpe bottles – this small pack was again a first of its kind in the indian market. in 1983, the same year in which india won the cricket world cup for the very first time, sheenlac struck a hattrick of sorts with the launch of thinners in pet bottles – first of its kind in the indian market! in 1990, mr. sudhir peter joined the organization as sales director and he was instrumental in sheenlac receiving many certifications.
sheenlac paints is an indian paint company headquartered in chennai, india. it manufactures paints, thinner and wood polish products for decorative and industrial use. it is rated a4 by crisil. sheenlac paints is among top 5 paint companies in india. early history it all began in the year 1960s. in 1962, mr. john peter (founder and chairman of sheenlac) started manufacturing thinner and wood polish products under the brand name " sheenlac “. in 1970, mr. paul peter joined the organization, as factory director and was responsible for launching wood polish with a non-alcoholic base for the first time in india. this was followed up in 1973 with the launch of wood polish in hdpe bottles – this small pack was again a first of its kind in the indian market. in 1983, the same year in which india won the cricket world cup for the very first time, sheenlac struck a hattrick of sorts with the launch of thinners in pet bottles – first of its kind in the indian market! in 1990, mr. sudhir peter joined the organization as sales director and he was instrumental in sheenlac receiving many certifications.