Country's second largest paint maker Berger Paints India Ltd Monday said it aims to grow in Russia and was also evaluating inorganic growth in the country while continues to pump in capital in the domestic market.
The company had earmarked Rs 200 crore in the current fiscal toward modernisation in the existing units and greenfield units in the domestic market.
Berger is also constructing its first colourant facility at Rishra in the home state of West Bengal.
"We are looking at opportunities to grow in Russia. Growth through inorganic route is also been evaluated," Berger chairman Kuldip Singh Dhingra told reporters on the sidelines of the 95th AGM.
When asked about details of the target and funding plans, he did not wish to elaborate saying "we will cross the bridge when it comes."
Replying to the shareholders at the AGM, Berger managing director Abhijit Roy said, "The Russian operation is currently making losses, but we hope to make a turnaround in the next two years."