| Decorative Paints | Interior and exterior paints, premium wood finishes, construction chemicals, waterproofing solutions, tile adhesives. | Strong brand equity, innovative products with Paint+ promise, extensive retail reach. | B2C homeowners, painters, architects, builders, and project developers. | Premium emulsions, waterproofing, wood finishes, and value-added services. | 4500 | 60 | Product sales through extensive dealer networks and contractor services. | Retail pricing, dealer margins, value-added services subscription in select segments. | Urbanization, housing growth, premiumization, eco-friendly demand, expansion of service network. | Nerolac, Nerolac Paint+ |
| Automotive Coatings | Paints and coatings for 2W, 3W, PVs, CVs, electric vehicles, underbody and alloy wheel coatings. | Strong technical partnerships, market leadership, in-house R&D, Japanese technology tie-ups. | Automotive manufacturers, auto body shops, EV manufacturers. | High-performance coatings, EV coatings, proprietary low-bake and eco-friendly products. | 1800 | 24 | B2B sales to OEMs and auto refinish market with licensing, contracts, and product sales. | Contractual supply agreements with OEMs, service contracts. | Growth in automotive production, EV adoption, new model launches, technological innovation. | Nerolac Automotive Coatings |
| Industrial & Performance Coatings | Powder coatings, liquid coatings, coil coatings, oil & gas protective paints, auto refinish products. | Technical expertise, proprietary product portfolio, broad industrial client base, global collaborations. | Industrial manufacturing, infrastructure, oil & gas, railways, consumer durables sectors. | Powder coatings, high-performance protective coatings, auto refinish premium segment. | 1200 | 16 | Sales to industrial customers, licensing, and service support contracts. | Project-based sales, bulk contracts, tiered pricing. | Infrastructure development, industrial growth, premium coating demand, sustainability trends. | Marpol Powder Coatings, Nerolac High Performance Coatings |
