Tiles, sanitaryware, paints, plywood, MDF panels and architectural glass.
Asian PaintsDirect supplier · HighListed
Berger Paints IndiaDirect supplier · HighListed
Kajaria CeramicsDirect supplier · HighListed
Cera SanitarywareDirect supplier · HighListed
Century Plyboards (India)Direct supplier · HighListed
Greenpanel IndustriesDirect supplier · HighListed
Asahi India GlassDirect supplier · LowListed
JK CementDirect supplier · LowListed
AstralEmerging entrant · LowListed
Where it fits
Supplies the visible finish of a home or office - floors, bathrooms, walls, doors, wardrobes and glass - mostly through dealers, contractors and carpenters.
Why it matters
Finishes are bought at handover and again on every renovation, so they depend on both new housing and the much larger existing housing stock. Brands matter because buyers see and choose these products.
Where the value pool sits
Paints have historically been the richest pool (~18-22% EBITDA for the leader), followed by sanitaryware and branded tiles; MDF and plywood are more cyclical. New capacity (Birla Opus in paints, MDF additions) has compressed margins since 2024.