One of India’s largest paintmakers, Berger Paints is a case study in business acumen and the inspiring success story of a duo who went from ordinary storekeepers to become one of India’s richest brothers.
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With a market cap of over Rs 68,000 crore, Berger Paints is controlled by Kuldip Singh Dhingra and Gurbachan Singh Dhingra.
Kuldip serves as the chairperson while Gurbachan serves as the vice chairperson. The brothers belong to a business family from Punjab’s Amritsar. The story of the Dhingra family began from a small shop in the city started by their grandfather 125 years ago, back in 1898.
Kuldip and Gurbachan graduated from the Delhi University and began careers with the Amritsar shop, counting a turnover of Rs 10 lakh annually by the 1970s.
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By the 1980s, they were the country’s biggest paint exporters to the erstwhile Soviet Union.
They realised that the next big step is building a brand with a multinational corporation. Kuldip Singh Dhingra set his sights on the small-time player under the Vijay Mallya-led UB Group’s umbrella. The Amritsar businessman was able to get hold of a meeting with the beverage baron set up through an acquaintance.
The duo bought one of the country’s smallest players in the paint manufacturing segment from erstwhile business tycoon Vijay Mallya’s UB Group in the 1990s.
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The company is today India’s second largest paint maker. Both command net worth of over Rs 29,700 crore ($3.6 billion) each from their stakes in the company.
