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Techno Paints, a Hyderabad-based paints manufacturer, has said it would invest ₹75 crore more on capacity expansion in next year, taking the total investments to ₹150 crore.
Unlike the regular paint manufacturing companies, the company focuses only on bulk projects, taking care of the paint needs of real-estate, infrastructure and government projects.
“We have a capacity of one lakh tonnes. We are currently working at a capacity utilisation of 70 per cent. After achieving full capacity utilisation, we will invest ₹75 crore to add an additional capacity of one lakh tonnes,” Akuri Srinivas Reddy, Founder of Fortune Group has said in a statement.
He said the 20-year-old company registered a turnover of ₹250 crore in 2021-23.
Italian tie-up
He said the company introduced lime-based traditional Italian finishes in the country in association with Italian company Rialto.
The lime-based paints, which are free of chemicals, are gaining traction in the high-end luxury home segment.
Available in 200 colour varieties, lime-based paints cost in the range of ₹150-400 per square feet.
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