Asian Paints Nepal is setting up its third manufacturing plant in the country with an investment of around Rs3 billion. The new plant is expected to come into operation within one and a half years.

Speaking at the launch of Asian Paints Nepal’s premium multi-category décor showroom, ‘Beautiful Home Boutique’, Amit Syngle, managing director and CEO of Asian Paints said that the plant will be established in the Hetuada Industrial Area.

Established in 1983, Asian Paints Nepal is one of the largest multinational companies in the paint manufacturing category. Asian Paints Nepal is currently operating two manufacturing plants in Hetuada and Makwanpur.

“The two manufacturing units are operating at 75 percent capacity,” said Syngle.

According to Investment Information and Credit Rating Agency (ICRA) Nepal, the first credit rating agency of Nepal, Asian Paints has retained a major chunk of its profits over the years, leading to a sizeable net worth base of Rs5.8 billion as of mid-July 2022. The company posted a healthy revenue growth of 47 percent during the fiscal year 2022 mainly supported by better sales realisation (32 percent year-on-year growth) and a relatively liberal credit period to customers.

The company is producing 100,800 tonnes of paints per annum.

“The liquidity crisis and inflation troubled the country economically. But inflation is decreasing and bank interest rates are also gradually declining. We are hopeful the economic situation will improve in the coming days,” said Syngle.

Asian Paints Nepal produces cement primer, emulsion, distemper, knifing paste, solvent and prime undercoat under 44 different brands registered in the name of its parent company. The company has also added a manufacturing plant for the assembly of chrome-plated bathroom fittings from fiscal year 2022.

On Saturday, the company launched its luxury home décor showroom ‘Beautiful Home Boutique’ at Apurva International, Gatthagar, Kathmandu. The Beautiful Home Boutique will cater for all décor needs of customers including bespoke design for fabrics and wallpapers, engineering excellence and pioneering technology. With both physical and digital visualization customer can experience products and finishes in their own home spaces.