Sirca Paints India launches OIKOS Paints in India

The company has executed a definitive and exclusive distribution agreement with OIKOS S.P.A.

Exclusive Launch of OIKOS Paints  

Sirca Paints India (SPIL) has executed a definitive and exclusive distribution agreement with OIKOS S.P.A. (OIKOS) - Italy’s leading decorative finishes and solid colour finishes (textured paints) brand that stands for sustainable, eco-friendly, paints & colours and fine Italian craftsmanship. This exclusive distribution agreement for the Indian markets also has a provision to manufacture these products in India in the future. The company will immediately start with the distribution and marketing of OIKOS through its extensive and growing distribution network of 2,400+ nodes across India.

OIKOS Paints product range primarily spans over decorative surface coatings & textured paints for interior and exterior wall surfaces including dry walls of MDF, HDF and Gypsum. These technologically superior products exhibit features such as being water-repellent, resistant to atmospheric pollution, resistant to abrasion, easily cleanable, anti-algae, and anti-mould. These products will be available at premium and luxury price points in the Indian markets.

Stock price movement  

On Monday, the shares of SIRCA Paints India closed at Rs 650, up by 5.80 points or 0.90% from its previous closing of Rs 644.20 on the BSE. The stock opened at Rs 649.90 and touched a high and low of Rs 658.50 and Rs. 646, respectively. The BSE group 'B' stock of face value of Rs 10 has touched a 52-week high and low of Rs 800 and Rs 598.85, respectively. Last one week high and low of the scrip stood at Rs 666.55 and Rs 635.30 respectively. The current market cap of the company is Rs 1,781.29 crore.

The promoters holding in the company stood at 67.55%, while Institutions and Non-Institutions held 10.01% and 22.44% respectively.

Company Profile 

Sirca Paints India Ltd is one of the leading brands of wood coating products in India, with over two decades of experience in the industry. The company is engaged in the manufacturing and sales of wood coatings and other decorative paints, under its owned or exclusively licensed brands such as Sirca, Unico, San Marco and DuranteVivan, and is also geared to begin exporting its products in some of the South Asian countries shortly. The company is significantly expanding its domestic footprint by setting up additional manufacturing facilities & infrastructure to strengthen its position in the East, West and South Indian markets.