Mysore Paints Eyes Growth with Diversification Plans

Bengaluru, Karnataka – The Karnataka government-owned Mysore Paints and Varnish Limited (MPVL) is set for a significant expansion, aiming to double its annual revenue this year. This ambitious target was announced by Heavy Industries Minister MB Patil following a board meeting yesterday.

Currently generating a turnover of Rs. 34-35 crores, MPVL projects reaching Rs. 77 crores in 2024. The primary driver for this growth is expected to be the upcoming Lok Sabha elections, leading to an increased demand for printing ink, one of MPVL’s core products.

However, the expansion plans go beyond a temporary boost. The board, with inputs from Minister Patil, has greenlit the exploration of household wall paints as a new product line. This would allow MPVL to compete directly in the consumer market alongside established brands.

Furthermore, the company will consider manufacturing paints and emulsions specifically for government buildings, schools, colleges, and hostels. This move could see MPVL secure lucrative contracts and establish itself as a reliable supplier to the public sector.

To ensure a smooth implementation of these diversification plans, MPVL will appoint an expert consultant from the paint industry. This aligns with the broader vision of transforming MPVL, also known as MPVL, into a prominent brand and increasing its competitiveness in the market.

The meeting, which included key figures like Principal Secretary of the Industrial Department S Selvakumar and MPVL Managing Director Mohammed Irfan, highlighted the government’s commitment to propelling MPVL to new heights.