1. Kuldip Singh Dhingra was interested in the family business. His grandfather had started a small paints import shop – Rajdoot Paints in Amritsar(1898). The shop was carried off wonderfully by Niranjan(Kuldip’s father) until it came crashing down. 👇
2. Niranjan passed away after a stroke in 1957, and the ten-year-old Kuldip was left shocked. He came to Delhi to operate from a 15ft x 30 ft shed as he could not afford to pay the rent. Slowly and steadily, the business picked up, and Rajdoot needed Working capital.
3. No bank was willing to give a loan to a paint shop, let alone a teenager running it. So, Kuldip asked dealers to give money as “Deposits” and earn two percentage points higher than the bank. A 19-year-old had seen alternative financing, which many adults failed to see. 🙌
4. The idea worked, and Rajdoot was grossing Rs 10 lakh sales in 1970. Kuldip bought a mansion in Delhi and became the new talk of the town. The business became so popular that it exported 20,000 tonnes to the Soviet Union. It even supplied White Enamel paints for the 1980 Olympics. Kuldip had everything right, but it all came crashing down again.👇
5. By 1993, the Soviet Union disintegrated. The domestic business also suffered as the government increased excise on paints to 45% and import duties to 110%. Kuldip needed the hand of a big player. While searching for names, Vijay Mallya of UB Group came up.
6. Mallya had just bought the 200-year-old Lewis Berger Group. Although loss-making, the business was present in over four continents. Mallya wanted to exit to focus on airlines and spirits, and Kuldeep bought the brand for an estimated 150 CR. In 1991, Rajdoot Ltd became Berger Paints. 🚀
7. With new head office in Kolkata, Kuldip launched “Color bank tinting”, allowing customers to choose from over 5000 colours. He also expanded to industrial paints and automotive coatings. As the paint market revived, new players like Tata’s Nerolac and 100-year-old Shalimar Paints coloured the scene.
8. Kuldip had to step up ⏩ On 14 March 1996 – Berger India was listed on the stock market. Later, Nerolac went big with the “Shah Rukh Khan Nerolac” campaign in 2010, and Shalimar grew massively after its acquisition by the OP Jindal group. The battle wasn’t over yet.
9. Berger Paints signed Kareena Kapoor, Katrina Kaif and Akshay Kumar in a campaign, “No Dhaag. No Dhaba. Only beautiful walls.” The campaign became massively successful, and Berger Paints touched revenues of 4000 CR. It gained 2nd spot in India, after Asian Paints. 👑
10. In 2022, Berger Paints grew to a sales of 9000 CR, market cap of 65,00 CR and profit of 832 CR. It has over 50,000 dealers, 3500+ employees and a presence in 16 countries. It became the 2nd largest paint company in India and 4th largest in Asia. 💪
Story of Kuldip Singh Dhingra – The Paint Man of India 🇮🇳