₹45,296 crore of revenue reported in the latest year (mostly FY25) by the 36 of Maharashtra's 418 paint manufacturers with accounts on file. The ten largest produce 99% of it; the typical filer earns ₹20.9 crore.
Active companies
418
paint manufacturers on the register
Reported revenue
₹45,296 crore
36 companies with accounts
Profitable
86%
of filers · India 87%
Secured loans
41.6%
of companies have one on record
What stands out about Maharashtra's paint manufacturers
01
Revenue
₹45,296 crore
of revenue reported in the latest year (mostly FY25) by the 36 of Maharashtra's 418 paint manufacturers with accounts on file. The ten largest produce 99% of it; the typical filer earns ₹20.9 crore.
02
Profitability
86%
of filers reported a profit (India, same segment: 87%); the median net margin is 4.1% against 2.3% nationally.
03
Growth
+3%
median revenue growth across 36 companies with two consecutive years on file (India: +1%); 0 grew by more than half and 16 shrank. Only companies still filing are counted.
04
Labour cost
8%
of revenue goes on employee cost for the median filer (8% nationally), about the same labour intensity as across India.
05
Lending
41.6%
of Maharashtra paint manufacturers have a secured loan on record (India: 38.7%). Most frequent lenders: State Bank Of India (31), HDFC Bank (20), Bank Of Maharashtra (18). Open borrowings against company assets total ₹2,026 crore.
06
Where the money is
99%
of reported revenue comes from Mumbai, which holds 48% of Maharashtra's paint manufacturers.
Where Maharashtra's paint manufacturers are
Companies by the city or district of their registered address.
City
Companies
Share
Reported revenue
Share of revenue
Mumbai
201
48.1%
₹45,023 crore
99%
Pune
81
19.4%
₹102 crore
0%
Thane
55
13.2%
₹4.7 crore
0%
Nashik
15
3.6%
₹104 crore
0%
Nagpur
15
3.6%
₹12.4 crore
0%
Aurangabad
12
2.9%
₹1.9 crore
0%
Satara
7
1.7%
–
–
Raigarh(mh)
7
1.7%
–
–
Kolhapur
5
1.2%
–
–
Nanded
3
0.7%
₹47.9 crore
0%
Paint Manufacturers in Maharashtra by size
From the latest accounts each company has filed, split by annual revenue. Growth compares with the year before; net margin is profit after tax over revenue.
Manufacturer of industrial and decorative paints. It offers a wide range of decorative and industrial paints, coatings, and home decor products. It provides interior and exterior wall paints, waterproofing solutions, wood and metal finishes, adhesives, and specialty items. The paints include enamel, oil, emulsion, synthetic rubber, bituminous, and more. It also provides services such as personalized interior designs and wall painting.
Asian Paints Limited is a public company incorporated in 1945, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. In FY25 it reported revenue of ₹33,906 crore, down 4% on the year before, with a net margin of 10.9%.
Manufacturer of industrial and decorative paints. It offers wide range of products, including wall paints, aluminium paints, cement paints, metal enamel paints, wood paints, and ancillary products. It provides wide range of interior and exterior paint solutions to transform any space.
Kansai Nerolac Paints Limited is a public company incorporated in 1920, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. In FY24 it reported revenue of ₹7,393 crore, down 2% on the year before, with a net margin of 16.0%.
It is a chemical manufacturing company that specializes in automotive OEM coatings, automotive refinish, industrial coatings, and marine coatings. They offer a wide range of paint colours and waterproofing solutions for both interior and exterior applications.
Ppg Asian Paints Private Limited is a private company incorporated in 1997, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. In FY25 it reported revenue of ₹2,082 crore, up 6% on the year before, with a net margin of 13.4%.
Revenue (FY25)₹2,082 crore
Growth vs prior year+6%
Net margin13.4%
Net worth₹1,207 crore
Paid-up capital₹57 crore
AreaMumbai
Incorporated1997 · Private company
Secured loans1 open
Key peopleJitendra Kalra (CEO)
OffersVOC compliant refinishes, Aesthetic protection of beverage, food,…, Superior coating for industrial…, Cutting edge protective marine coatings
ProfileFaculty of Management Studies - University of Delhi MBA 1998
EducationFMS
ProductsEnvironment Health And…, Purified Drinking Water… +46 products
Product 01 / 06
Environment Health And Safety
CategoryCar Paints
PriceOn request
Range15 products listed by PPG Asian Paints
Product 02 / 06
Purified Drinking Water Facility
CategoryCar Paints
PriceOn request
Range15 products listed by PPG Asian Paints
Product 03 / 06
Automotive OEM Coatings
CategoryCar Paints
PriceOn request
Range15 products listed by PPG Asian Paints
Product 04 / 06
Automotive Refinish
CategoryCar Paints
PriceOn request
Range15 products listed by PPG Asian Paints
Product 05 / 06
Industrial Coatings
CategoryCar Paints
PriceOn request
Range15 products listed by PPG Asian Paints
Product 06 / 06
Marine Coatings Service
PriceOn request
Range15 products listed by PPG Asian Paints
1 / 6
04 · FY25 accounts · Mumbai
E
Esdee Paints Limited
Esdee Paints Ltd. is a leading based in Mumbai.we are committed to delivering quality products and services.
Esdee Paints Limited is a public company incorporated in 1979, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated1979 · Public company
Secured loans1 open
OffersWood Finish, Wall putty, SEALER EXTERIOR / INTERIOR, Acrylic Primer
Manufacturer of coatings, emulsions, resins, and additives located in Mumbai, India. Specializes in production and manufacturing.
Speciality Industrial Polymers And Coatings Private Limited is a private company incorporated in 2004, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated2004 · Private company
Brand founded2000
Secured loans2 open
Directors on recordAshok Parshuram Bhogan, Sandhya Ashok Bhogan2 directors
Ashok Parshuram BhoganManaging Director · since 2004
Trikaya Coatings Private Limited is a private company incorporated in 1996, with its registered office in Nashik, Maharashtra, classified under fabricated metal products. In FY25 it reported revenue of ₹84.4 crore, down 4% on the year before, with a net margin of 2.0%.
Ramchandra Krishnarao JorapurkarDirector · since 1996
Indira Ramchandra JorapurkarDirector · since 2004
Tejaswini Ramchandra JorapurkarDirector · since 2012
02 · FY25 accounts · Mumbai
S
Sunanda Speciality Coatings Pvt Ltd
Sunanda Speciality Coatings Private Limited is a leading Authorized Wholesale Dealer based in Pune.we are committed to delivering quality products and services.
Sunanda Speciality Coatings Pvt Ltd is a private company incorporated in 1982, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. In FY25 it reported revenue of ₹80.2 crore, down 9% on the year before, with a net margin of 8.3%.
Revenue (FY25)₹80.2 crore
Growth vs prior year−9%
Net margin8.3%
Net worth₹78.7 crore
Paid-up capital₹3.5 crore
AreaMumbai
Incorporated1982 · Private company
OffersSunanda Chemicals Polyalk Wp, Sunanda Hack Aid Plast, Plaster Admixtures
Manufacturer of heat-resistant paints and powder coatings for industrial applications. The company provides solutions for areas exposed to high temperatures. Products include liquid heat-resistant paints and powder coatings designed to withstand specific temperature ranges. The company also offers epoxy, polyurethane, and polyester-based coatings.
Orbit Coatings Pvt Ltd is a private company incorporated in 1987, with its registered office in Pune, Maharashtra, classified under IT & computer services. In FY25 it reported revenue of ₹55.4 crore, up 7% on the year before, with a net margin of 5.4%.
ProfilePioneer with innovation in the field of Heat Resistance Coatings.I have rich experience, as I have worked with different type of businesses,and extensively travelled in india and internationally.
This makes me a great guy,to be with and enjoy with.
EducationDepartment Of Technology, Savitribai Phule Pune University
LinkedIn6K followers · Pune, Maharashtra, India
AboutPioneer with innovation in the field of Heat Resistance Coatings.I have rich experience
ProductsOrbits Support, Heat Guard 600 System +24 products
Product 01 / 04
Orbits Support
CategorySolar Water Heater
PriceOn request
Range4 products listed by Orbit Coatings
Product 02 / 04
Heat Guard 600 System
CategorySolar Water Heater
PriceOn request
Range4 products listed by Orbit Coatings
Product 03 / 04
ORBIT - SCB
CategorySolar Water Heater
PriceOn request
Range4 products listed by Orbit Coatings
Product 04 / 04
Orbit Heat Guard 600 System
CategorySolar Water Heater
PriceOn request
Range4 products listed by Orbit Coatings
1 / 4
04 · FY25 accounts · Mumbai
A
Advance Paints Private Limited
Exporter of paints items and wood coating.
Advance Paints Private Limited is a private company incorporated in 1941, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated1941 · Private company
Secured loans1 open
OffersWall Finish Paint, Wood Paint, Paints, Epoxy Range
Provider of a broad range of products based on renewable biomass that serve diverse fields of applications, including coatings, adhesives, composites, and construction chemicals. Paladin Paints & Chemicals focuses on offering innovative and technologically advanced solutions for various industries.
Paladin Paints & Chemicals Private Limited is a private company incorporated in 2007, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated2007 · Private company
Brand founded1985
Secured loans4 open
Key peopleSantosh More (CEO)
Founders & leadershipSSantosh More1 person
SM
Santosh More
CEO
ProfileCEO-Paladin Paints & Chemicals
06 · FY25 accounts · Mumbai
Metcon Coatings And Chemicals (india) Private Limited
Manufacturer & supplier of industrial coatings and paints
Metcon Coatings And Chemicals (india) Private Limited is a private company incorporated in 1998, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaMumbai
Incorporated1998 · Private company
Brand founded2004
Secured loans3 open
Directors on recordSuryanarayanan Mahadevan, Satish Suryanarayanan2 directors
Manufacturer of epoxy concrete primers, finish paints, and floor coatings. They provide epoxy high build monocoat, zinc-rich primers, and zinc phosphate primers. The company also offers epoxy MIO intermediate paints and coatings. Their product line includes epoxy screed self-leveling and self-leveling top coatings. They manufacture polyurethane finish paints, HB zinc phosphate primers, and HB monocoat DTM coatings. Quick-drying finish paints, industrial enamel paints, and high-build grey red primers are also available.
Vintalac Paints India Private Limited is a private company incorporated in 2021, with its registered office in Pune, Maharashtra, classified under chemicals & pharmaceuticals. In FY25 it reported revenue of ₹9.7 crore, up 10% on the year before, with a net margin of 2.3%.
Incepted in 2014, ITS Coatings is a specialist manufacturer of traffic markings focussed on manufacturing of water based solvent based paints & primers, promoters of glass beads and road marking equipments. Our products and processes involve the highest quality standards evolved from our global experience in manufacturing thermoplastic and liquid markings for traffic safety. We focus on critical application areas such as Airports, Seaports, Highways (Kerbs & Temporary markings), PWD roads, etc.
Its Coatings Private Limited is a private company incorporated in 2012, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. In FY25 it reported revenue of ₹9.6 crore, down 13% on the year before, with a net margin of 7.9%.
Revenue (FY25)₹9.6 crore
Growth vs prior year−13%
Net margin7.9%
Net worth₹4.5 crore
Paid-up capital₹4.5 lakh
AreaMumbai
Incorporated2012 · Private company
OffersGraco Spray Painting Equipment, Thermoplastic Road Marking Machine, LXD 1050 Thermoplastic Paint removal…, Hofmann 2K50A / 2K60A for two component…
Directors on recordShyamsunder Gaurishanker Tibrewala, Amit Shyamsunder Tibrewala2 directors
Shyamsunder Gaurishanker TibrewalaDirector · since 2012
Vencer Paints is a Mumbai-based paint manufacturer offering products like Paint, Distemper, Primer, Emulsion, Putty, etc. Led by a dynamic woman entrepreneur, Vencer Paints aims to empower excellence in home decor with its weather guard color and waterproof formula interior emulsion.
Vencer Paints & Adhesives Private Limited is a private company incorporated in 2021, with its registered office in Mumbai, Maharashtra, classified under chemicals & pharmaceuticals. In FY24 it reported revenue of ₹5.3 crore, up 14% on the year before, with a net margin of 0.3%.
Provider of bio-based polyurethane concrete flooring systems that offer exceptional resistance to aggressive chemicals, mechanical, and thermal shock. Specializing in industrial flooring solutions such as epoxy flooring, concrete polishing, and quartz flooring systems.
Strongard Paints Private Limited is a private company incorporated in 2022, with its registered office in Thane, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
It is a paint manufacturer that has been committed to providing high-performing quality products to Indian consumers for over 25 years. They offer a wide range of eco-friendly paint products, including water-based PU emulsion and PU-based paints.
Tulsi Paints Private Limited is a private company incorporated in 1997, with its registered office in Nanded, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaNanded
Incorporated1997 · Private company
Brand founded2000
Secured loans1 open
Offerswallpapers, curtains, fabrics
Directors on recordKalpana Kailash Rathi, Sumeet Suresh Dhoot2 directors
Kalpana Kailash RathiDirector · since 1997
Sumeet Suresh DhootDirector · since 2021
ProductsMetallic Paint, Polymer Base Putty +35 products
Manufacturer of PTFE, PFA, FEP based coatings for industrial applications. These coatings are used in diverse sectors, including food processing, pharmaceuticals, and automotive manufacturing. The company also produces non-stick, heat-resistant, and chemically resistant coatings. Their offerings encompass epoxy and polyurethane coatings for various applications requiring heat and corrosion resistance. The coatings are designed for use on a wide variety of substrates, including molds, hardware, and machinery components.
Bhogale Coating And Paints Private Limited is a private company incorporated in 2004, with its registered office in Aurangabad, Maharashtra, classified under chemicals & pharmaceuticals. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaAurangabad
Incorporated2004 · Private company
Brand founded2000
Secured loans4 open
Directors on recordShyamala Ramchandra Bhogale, Rajani Bhogale Mukund2 directors
Secured loans registered against company assets. The median open loan is ₹30 lakh.
Lender
Companies
Loans
Open borrowings
State Bank Of India
31
51
₹346 crore
HDFC Bank
20
31
₹113 crore
Bank Of Maharashtra
18
51
₹41.1 crore
Bank Of Baroda
15
36
₹67 crore
Union Bank Of India
14
55
₹128 crore
Bank Of India
13
44
₹24.2 crore
Kotak Mahindra Bank
11
16
₹143 crore
Yes Bank
9
10
₹12.2 crore
Frequently asked questions
How many paint manufacturers are there in Maharashtra?
The register lists 418 active paint manufacturers in Maharashtra; 36 have filed accounts and 28 are tracked in Radar.
What is the biggest of the paint manufacturers in Maharashtra?
By latest revenue: Asian Paints Limited (₹33,906 crore, FY25); Kansai Nerolac Paints Limited (₹7,393 crore, FY24); Ppg Asian Paints Private Limited (₹2,082 crore, FY25).
How much revenue do paint manufacturers in Maharashtra generate?
The 36 companies with accounts on file reported ₹45,296 crore in their latest year; the median is ₹20.9 crore and the top ten make up 99%.
Are paint manufacturers in Maharashtra profitable?
86% of filers reported a profit and the median net margin is 4.1%; median revenue growth is +3%.
Which city in Maharashtra has the most paint manufacturers?
Mumbai (201); Pune (81); Thane (55).
Which banks lend to paint manufacturers in Maharashtra?
State Bank Of India (31 companies); HDFC Bank (20 companies); Bank Of Maharashtra (18 companies); Bank Of Baroda (15 companies).
Companies come from the Ministry of Corporate Affairs register (active companies; incorporations through 2022). Revenue, profit and net worth are the latest statutory accounts on file for companies that file them, standalone where available; companies without accounts are not in revenue figures. Secured loans are charges registered against company assets. Hiring is from Fliar Radar job tracking. Directory figures come from business-directory listings collected in 2026 (reviews to 2021). Counts are a floor: some incorporation years are only partly covered.
Backyard Story Paint, Magic Mermaid Paint +46 products
