Nerolac reviews Rs 6-7-cr wood finish portfolio

Nerolac reviews Rs 6-7-cr wood finish portfolio

Author | Anushree Madan Mohan | Thursday, Dec 02,2004 7:59 AM

Nerolac reviews Rs 6-7-cr wood finish portfolio

Goodlass Nerolac, India’s second largest paint manufacturer is reviewing its wood finish portfolio. The account is estimated approximately in the region of Rs 6-7 crore. Currently, Nerolac’s creative business is spaced out between Interface and Ambience. While the wood finish portfolio is being serviced by Interface, Nerolac Allscape and Nerolac Suraksha fall under Ambience’s custody.

Till date, the wood finish portfolio has occupied a very small part in Nerolac’s overall communication, gracing just print ads and PoP advertising. But as a part of its new communication strategy, the paints major is looking to build a niche for its wood finish products by taking on a more aggressive stance in order to counter competition. The presentations would gear up towards mid-December. However, the media mandate for the account remains untouched by the oscillations and continues to remain under Lodestar’s purview.

Goodlass Nerolac Paints has with full intention stopped its corporate advertising and embarked on a strategy of building individual brands. This was initiated with the launch of the company’s premium exterior paint brand ‘Nerolac Excel’ and continued with ‘Nerolac Allscapes – 24-karat’ interior emulsion and the economy exterior paint ‘Nerolac Suraksha’ – all of which have been success stories in their respective categories. In fact, the current review could have well occurred on account of this new strategy.

The company has been at the forefront of paint manufacturing for more than 80 years pioneering a wide spectrum of quality paints. With a group turnover of more than Rs 1,000 crore, Goodlass Nerolac claims to be the second largest paint manufacturing company in India. The company recorded growth in profits of over 55 per cent in the second business quarter ended September 30. While the profit before tax increased by 52.17 per cent and stood at Rs 42.76 crore, the net profit of the company for the quarter increased by 55.76 per cent over the corresponding period last year and stood at Rs 29.22 crore.

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