Sirca Paints India Limited has shown exceptional growth for the past few years. Could you give us a better insight into the company?
The company was started 13 years ago by myself and Gurjeet Singh Bains, with a fairly simple business model of importing PU products from Italy and Korea, repacking it and then selling it through our own dealer network. Since then, we have come a long way to becoming one of the leaders in northern India for wood coatings. Alongside, we have also expanded our network to southern and western India. To add to our current product offerings, we have recently ventured into setting up an in-house manufacturing unit for melamine, NC products, and economical PU, which will be functional by July of this year. Besides this, our manufacturing unit for the wall paint segment will be operational by mid-June.
Understanding your current set-up with Sirca Italy, would there be any alteration in the same, given your recent shift to in-house manufacturing?
Well, the relationship that we share with Sirca Italy is more than two decades old and our shift to in-house manufacturing will not affect it in any way. On the contrary, we have collaborated with them for the provision of technical know-how at our upcoming manufacturing unit. To validate the same, Sirca Italy is one of the leading Italian companies in the wood coating market with a turnover of more than 120 million euros. Its strong focus on R&D and widespread network of specialized distributors in more than 40 countries (covering America, Asia, Europe, Africa, and Australia) only make this set-up more meaningful for us. To sum it up, we have also struck an exclusivity contract with Sirca Italy for Bangladesh, Nepal, Sri Lanka, and India for the manufacturing and distribution rights.
Considering the fact that quite a few bigger players have recently entered the coatings market, has it affected Sirca India’s position in the market? If yes, how?
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