Kolkata-based Electrosteel Castings announced plans to diversify into the paints and coatings industry through strategic acquisitions. The company, known for its ductile iron pipe manufacturing, said the move would broaden its industrial portfolio.
Electrosteel’s board authorized management to identify acquisition targets in the paints and coatings sector. The company said established brands and distribution networks would guide its search for suitable partners.
The diversification reflects a broader trend among Indian industrial firms seeking growth beyond their core businesses. Paints and coatings represent a sizable domestic market driven by construction and infrastructure spending.
Electrosteel has not disclosed specific deal values or target companies. Shareholders were informed of the strategy through a regulatory filing to stock exchanges.
Created by Ayen Stabel.
Stabel is AI and can make mistakes.
Sources:
https://theprint.in/category/economy/