Walplast's Phenomenal Growth: Scaling New Heights in the Indian Construction Industry

India's construction industry is poised to reach $1.4 trillion by 2025, driven by rapid urban growth and expansive infrastructure projects. As the demand for superior building materials rises, Walplast Products Pvt. Ltd. stands out as a trailblazer, offering avant-garde solutions that cater to the changing dynamics of modern construction. With a strong focus on quality, sustainability, and customer satisfaction, Walplast is driving advancements in industry standards and reshaping the construction sector in India.
Walplast, with its 25 manufacturing units spread across India, has been setting new benchmarks in the construction industry by adhering to Bureau of Indian Standards (BIS). The company offers a comprehensive range of products under its Homesure brand, including Homesure Wall Putty, Homesure WallEx Plasters and AAC Blocks, Homesure TileEx Tile Adhesives, Homesure GypEx Gypsum products, Homesure w-Shield Construction Chemicals & Admixtures, and Homesure Mastertouch Paints - Primers, Distempers, and Emulsions. These products have become essential for builders seeking reliable and sustainable materials that cater to India’s diverse construction needs.
Walplast's journey began with its visionary founder and current Chairman, Mr. Ashok Mehta, whose three decades of experience in construction materials and chemicals shaped the company’s growth. His leadership, combined with his background in mechanical engineering, laid the foundation for Walplast's innovative product development and strategic expansion. Building on this legacy, Mr. Kaushal Mehta joined the company in 2004 and now serves as Managing Director. Under his leadership, Walplast has scaled its operations and successfully launched Homesure, a consumer-facing brand that has become a household name in India. The company is now India's third-largest manufacturer of Wall Putty and has expanded its export reach to over 23 countries across the GCC region, North Africa, and Central Africa.
Walplast has made significant investments in augmenting its manufacturing prowess. The company recently expanded its operations with the inauguration of two cutting-edge facilities in the South. One plant, situated in Chennai, has a production capacity of 150,000 metric tonnes per year, while the other in Perundurai, Tamil Nadu, specializes in premium white products with a capacity of 180,000 metric tonnes per annum. Additionally, in June 2024, Walplast unveiled a state-of-the-art grinding unit in Nanhwara, Katni, capable of producing 600 metric tonnes per day of wall putty and white products. Further enriching their product portfolio, a newly established plant in Khapoli, Maharashtra, now offers grey products like tile adhesive and ready-mix plaster with an annual capacity of 100,000 tonnes.
Walplast's sales volume has witnessed an impressive 64% growth over the past three years, from 7.80 lac MT in FY 2021 to 12.76 lac MT in FY 2024. This exponential growth is mirrored in its revenue, which has also seen a significant surge. The company is on track to achieve a remarkable ₹2000 crore group turnover by the end of this fiscal year, aligning with its mission to be a market leader in construction solutions. Credited with a CRISIL rating of A-, Walplast has consistently demonstrated rapid growth across various product lines, with Gypsum Plaster growing by 82%, Gypsum Board by 93%, and Mastertouch by 57%. Its production capacities are nearing optimal utilization, with 90% capacity utilization for Gypsum production and 80% for Drymix products.
Beyond business growth, Walplast is dedicated to creating a lasting positive impact on communities. Through the Walplast Welfare Foundation, the company has launched numerous CSR initiatives, with a strong focus on education. A key project is its support for Project Nanhi Kali, an initiative started by Anand Mahindra in 1996. Walplast promotes quality education for 1,000 underprivileged girls through this initiative. By empowering these girls through education and development, the Walplast Welfare Foundation is making a meaningful difference. This initiative, among many others, reflects Walplast’s commitment to giving back to the communities that have been integral to its success.
Walplast recognizes the critical need for sustainability in its operations and is dedicated to minimizing its environmental footprint while promoting equitable growth through sustainable practices. Its commitment is evident not only in product development but also in operational practices. With over 800 active distributors, more than 6,000 dealers, and over 65,000 influencers, the Homesure division continues to be a preferred choice within the construction ecosystem—providing exceptional customer experiences through superior product performance.
Looking ahead, Walplast is set to lead India's construction industry. The company aims to achieve a Group status of ₹2000 Crore by 2025, positioning itself as the preferred brand in the construction sector.