India is currently experiencing one of the largest housing booms. The government’s affordable housing schemes, like PM Awas Yojana, urbanisation, and the growth of middle-class income, are fuelling the demand for new homes and renovations, which have provided a strong tailwind to companies that produce the raw materials used in home interiors.
India’s top paint and adhesive companies are the major beneficiaries of this growth, as their products are not only used once, but over and over again, in the life of a home. In this blog, we will look at some Indian paint and adhesive manufacturers.
India’s Housing Boom
The Ministry of Housing and Urban Affairs predicts that by 2031, India’s urban population will reach 600 million. With the increasing migration of people from rural to urban areas in search of better opportunities and a better quality of life, the demand for paints is increasing in both rural and urban markets. The paints and adhesives suppliers often enjoy strong brand loyalty and consumer inertia.
This is because, in these markets, consumers are likely to continue using a product that they are satisfied with due to the risk of not achieving the desired results if they switch brands, leading to a sticky market share in these sectors. Here are some of the top paints and adhesives stocks in India.
Asian Paints
Asia’s largest decorative paints company, Asian Paints, operates in more than 15 countries. Established in the year 1942, it offers a wide portfolio including decorative paints, industrial and automotive coatings, wood finishes, and waterproofing products.
In Q3 FY 2025-26, the consolidated profit of the company was ₹1,045.6 crores, whereas it had ₹8,819.72 crores as revenue from operations. This company has a strong cash flow in terms of providing dividends to its stakeholders, as its 5-year Dividend Per Share growth is 38.87%. With the rise of the Indian housing market, Asian Paint share price is poised to grow with every new house that requires a new look to be painted.
Berger Paints
Berger Paints India Ltd, India’s second-largest paint company, was set up in 1923. The company announced that it registered ₹2,984.0 crore in consolidated revenue from operations with an increase of 0.3% on a year-on-year basis and ₹271.3 crore in consolidated net profit in Q3 of the financial year 2025-26. The company has a strong presence in Eastern India.
To capture the faster growth being witnessed in Tier 2 and Tier 3 cities, and given that house demand is increasingly shifting away from metros, Berger Paints is looking to expand its distributor network aggressively in these towns and cities. Further highlighting its optimistic outlook for the sector, Berger Paints plans to invest over ₹2,000 crore to augment its manufacturing capacity in India by the year 2027.
Pidilite Industries
Pidilite Industries is the largest producer of adhesives and sealants, construction chemicals, and DIY products in India. Its Fevicol brand is India’s most popular brand of adhesives and one of the most trusted brands. Its other brands, M-Seal, Dr Fixit, Fevikwik, and Roff, are essential products for home improvement and construction.
The Pidilite Industries share price has grown by 56.32% in the past five years (as of 7th May 2026), as the company has grown its business during the Indian construction boom. It has a 5-year dividend per share growth rate of 23.36%, making it a compelling stock in the adhesive industry.
The bottom line
The housing boom in India is boosting the demand for paints and adhesive products. The above-listed stocks have high brand visibility, extensive distribution channels, and cyclical demand characteristics, along with consistent dividend payouts, making them a lucrative investment choice for investors seeking steady income from investments.
