Pidilite Paints: Cautious Expansion Fuels Growth

Pidilite Industries, known for its Fevicol and Fevikwik brands, is quietly but steadily expanding its paints venture, Haisha. Initially launched in southern India two years ago, the brand is now moving into eastern markets like Odisha, with a planned phased national rollout. The company's strategy deliberately targets rural and semi-urban areas, aiming for sustainable growth in a competitive decorative paints sector.

Managing Director Sudhanshu Vats highlighted that the paints business is demonstrating consistent growth, validating their entry. However, he stressed a cautious approach, intentionally delaying a full national rollout to refine the business model and ensure a competitive edge. This measured expansion comes amid increased competition from established players and new entrants in the decorative paints market.

Pidilite continues to explore inorganic growth opportunities, focusing on specialized, high-margin segments. This aligns with their financial performance, which showed robust growth in FY25 and the first half of FY26. The company anticipates double-digit volume growth in the latter half of FY26, driven by product innovation and home improvement trends in both urban and rural areas.