Two years after announcing the idea, the JSW Group on Thursday formally announced its foray into the paints business through JSW Paints.

The company has two plants in Vijayanagar and Vasind with a total capacity of 1,25,000 kilolitres per annum, said Parth Jindal, managing director of the company. The first product line of JSW Paints will be rolled out in South and West India by September this year.

The company is aiming to achieve Rs 2,000 crore revenue mark by 2022, following which both plants will double their capacity, said Jindal.

JSW will initially bank on its synergies in the South and West markets to roll out its product line before setting up new manufacturing units in the East and North.

India’s near-Rs 50,000 crore paint market has been growing at 15 percent every year, and nearly 75 percent of the market belongs to organised players. Asian Paints is the biggest player in the segment with a current capacity of over a million kilolitres per annum, but Jindal is confident that his company’s innovative disruptions will distinguish it from competitors.

JSW Paints is offering a unified price across colours, as well as a buddy system to provide consumers with assistance along the entire journey -- from selecting and visualising colour to even being able to apply it themselves.

It’s not just the consumer market that the company is targeting. It is looking to tie up with steel producers like Arcelor Mittal and Uttam Galva to provide paint solutions for coil-coating products. Group bellwether JSW Steel will also source paints from JSW Paints for its colour coated line.

This year, JSW Paints expects the B2B segment to contribute up to 30 percent of its revenue, which will eventually fall to 20 percent by 2022.

The group’s announcement comes two months after it announced its entry into the steel furniture business with its brand Forma. Jindal said that the journey of the company’s consumer-facing products is now complete. “When a customer thinks of a house, he should think of JSW’s products," he said.