New Delhi, March 15, 2018:
In order to expand upon its existing legacy in the field of wood coating and paints, Delhi-based Sirca Paints India Ltd. is all set to launch a manufacturing facility in India. The brand is a popular name in the industry, engaged in importing, trading and repacking of polyurethane coatings, water based coatings, melamine and NC products, wood care products, wood fillers, abrasives, buffing compounds, and thinners.
As part of its ambitious plans for the forthcoming year, the company has laid out some major objectives, which include strengthening an effective brand image for Sirca, setting up an IPO and installing an efficient, new manufacturing capacity.
Mr. Sanjay Agarwal, CMD , Sirca Paints India Ltd, explains the idea behind the expansion, saying, “With rapid changes in the lifestyles of discerning Indian consumers, a high global growth rate in the paint and coating industry is anticipated. Wood coatings and paints are an indispensable part of today’s way of life, owing to both protective and decorative attributes. This makes manufacturing of fast-running products all the more imperative. Not only will that help us reap the benefit of economies of scale, but also enable us to offer international quality products at better prices.”
The expansion is being planned in partnership with the company’s Italian counterpart – Sirca Spa. Sirca Paints India Ltd. had recently entered into a manufacturing and technical agreement with Sirca Spa, as a 5.22% shareholder in Sirca Paints India Ltd., through which it gets exclusive sales rights in Sri Lanka, Bangladesh and Nepal, in addition to India.
The proposed manufacturing facility will help the company achieve its objective of broadening its product range . With a production capacity of more than 100 lakh litres / Kgs per annum, Sirca Paints India Ltd. is hoping and aiming to double its sales by the end of the Financial Year 2020-2021. The company has already identified distributors in Nepal and Sri Lanka and with the manufacturing facility set to commence operations by end of March 2019 – this plan is expected to give a big boost to its sales and reach within the Indian sub-continent.
In the wood coatings industry, Sirca enjoys a significant client base of leading OEMs, with which it has developed and sustained strong and stable relationships. The company has a reputation for being a reliable and high quality brand in this niche sector. After enjoying a continuously successful presence in states across North India, the brand is now making inroads in areas across the country, broadening both its horizons and its dealer networks.