Bengaluru: Karnataka Minister for Large and Medium Industries M.B. Patil on Monday chaired a board meeting of the State-owned Mysore Paints and Varnish Limited (MPVL) to discuss the strategies needed to be adopted to increase its production capacity and financial turnover and added that the aim is to develop ‘Mysore Paints’ as a brand to enable it to compete with private players.
Speaking after the meeting, the Minister in a statement said that the enterprise which is one of the prestigious factories set up during the Mysore Maharaja’s regime currently has an annual turnover of around Rs. 34 crore to Rs. 35 crore. However, now, there is a requirement for indelible ink due to the upcoming Lok Sabha elections and the turnover this year is expected to touch Rs. 77 crore, he added.
Emphasising that the enterprise will be upgraded to align with the competitive market, he informed that the factory will enter into manufacturing of home paints soon. Further, Patil stated that there is a thought to manufacture paints, emulsions etc., required for Government buildings including schools, colleges and hostels in the factory.
Considering this, permission has been given to appoint an expert from the paint industry as the consultant. The aim is to develop, ‘Mysore Paints’ as a brand to enable competing with the private players. The market will also be expanded rationally and paints will be made available at competitive prices, Patil explained.
Principal Secretary of Industries Department S. Selvakumar and Managing Director of Mysore Paints and Varnish Limited Mohammad Irfan were present.
This post was published on March 13, 2024 7:42 pm