At present, Asian Paints is the leading player in the sector with a substantial share in the decorative paints market.
Addressing shareholders, Jindal said India remains one of the world’s most attractive long-term growth markets, and the outlook for the paints and coatings industry is positive.
“With trusted brands, strong technical capabilities, an expanding distribution footprint and the institutional strength of the JSW Group, JSW Dulux is well positioned to disproportionately capture the opportunities ahead,” he said.
Jindal said investments in infrastructure and housing, expansion in manufacturing supported by PLI schemes, enabling policy measures, rapid urbanisation, growing disposable incomes, and premiumisation trends are collectively strengthening long-term growth prospects for the sector.
However, “at the same time, competitive intensity has increased meaningfully – from a market once dominated by a few organised players to more than fourteen today”, he added.
In such a landscape, sustainable value creation will increasingly favour companies with strong manufacturing capabilities, efficient execution, brand strength, and the ability to scale with discipline, he said.According to Jindal, as the industry enters its next phase of consolidation and premiumisation, we believe scale, capability, and brand trust will define long-term leadership.
“In this backdrop, our acquisition of JSW Dulux Limited (formerly Akzo Nobel India) is a transformative step forward,” he added.
The transaction combines globally-recognised brands, technical expertise, manufacturing capabilities and an established distribution network with the JSW Group’s entrepreneurial approach and execution capabilities, he added.
Highlighting the group’s ambitions in the sector, Jindal said JSW Dulux plans to compete aggressively across all segments of decorative paints and industrial coatings, while also expanding into adjacent categories to unlock new growth opportunities.
“Across sectors, JSW Group has consistently built category-leading businesses, with several of our companies already holding leadership or near-leadership positions in their respective industries. Our ambition in this industry is no different, and we aim for an eventual top-two position in decorative paints and industrial paints,” he said.
Jindal said the Dulux brand, trusted by millions of Indian households, would remain at the centre of the company’s strategy, with disproportionate investments planned to strengthen its premium positioning and deepen consumer trust.
The company will continue to focus on innovation, manufacturing excellence and digital capabilities to improve competitiveness and operational efficiencies, he added.
Expanding distribution across urban, semi-urban and emerging markets will also remain a priority to enhance market reach, service levels and customer engagement, Jindal said.
“With trusted brands, strong technical capabilities, an expanding distribution footprint and the institutional strength of the JSW Group, JSW Dulux is well positioned to disproportionately capture the opportunities ahead,” he added.