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Asian Paints signs MoU with Gujarat government to invest Rs. 960 crore in Gujarat

News: Asian Paints has signed an MoU with the Gujarat Government to double its paint manufacturing capacity to 2.5 lakh KL in Gujarat in next two to three years. The company plans to invest Rs.960 crore on the said expansion.

Views: Asian Paint’s brownfield expansion in Gujarat will increase its total production capacity by 14% to ~ 2 mn kilolitre. We believe capacity addition by the company is to fuel its long term growth. Alongside, focus on increasing penetration in tier II and tier III cities, undisrupted supply amid pandemic has helped the company to gain its volume market share

Impact: Positive