How is the market for wall putty shaping up in India?
The Wall Putty market in India is highly commoditized. However, with the increasing focus on development and Smart City infrastructure, there is a growing demand for wall putty products. The rise in urbanization, real estate projects, hi-rise buildings and renovation activities further contribute to the growing market. Customers are becoming more discerning and are seeking high-quality products that offer durability and a smooth and aesthetic finish.
Which wall putty products do you offer? Which is your largest selling wall putty? Why?
Walplast offers a range of Skim coat and Putty product solutions, including our flagship product, viz,HomeSure Wall Putty. Besides, we also offer Colour Putty, Coarse Putty for textured finishes and Premium Putty for highly durable solutions. Our HomeSure Wall Putty is the largest-selling wall putty due to its high-quality formulation, excellent adhesion, smooth finish, shiny white surface and high durability. Customers trust the brand and appreciate the consistent performance of this product. Another very prominent Wall Putty product is the HomeSure Premium Putty as it has waterproofing capabilities.
In India a major chunk of the wall putty market is taken by the unorganized players. What are your plans to increase your market share in India?
Walplast, as one of the largest and most reputable producers of building materials and the 3rd largest manufacturer of Wall Putty in India, is steadfast in its commitment to expanding its market share in the country. Our approach to achieving this involves a comprehensive and multi-faceted strategy. Our foremost priority is to ensure delivery of consistent high-quality product. We firmly believe that this commitment to quality forms the very foundation of our success. All our products adhere to stringent quality standards, and we continuously strive to improve and innovate. Paramount in our strategy is Customer Satisfaction. We invest significantly in marketing and promotional activities to create awareness about the superior quality of our wall putty products. Through these efforts, we aim to educate consumers about the numerous benefits of choosing the HomeSure Brand. Our recent digital campaign showcasing our unique product qualities, is best exemplified by our commitment to our proposition "Suraksha – ChikniChamaktiDeewaron Ki,"
Recognizing the importance of a strong brand in building relevance, credibility and trust with customers, we invest in our Brand branding initiatives. Our HomeSure Wall Putty communicates its 3S Advantage - Super Smooth, Super Shine and Super Safe. Our brand, HomeSure Wall Putty, stands as a symbol of these attributes. Our recent digital campaign “Suraksha - ChikniChamaktiDeewaronki” serves as a testament to our efforts in this regard. Our Distribution Channel is an indispensable part of our success story. We place great emphasis on building and nurturing strong relationships with our dealers. We provide them with the necessary support as we understand their success is intertwined with ours, and we ensure they have the tools and knowledge required to thrive in this competitive market. We have a strong presence in multiple states across India as part of our growth plan, we actively explore opportunities in untapped regions where there is a growing demand for construction and renovation activities. We recognize the immense potential of both urban and rural markets and continuously assess the best approaches to expand our presence.
Which are the markets you serve? Are there plans to expand your market for newer territories?
Walplast has established a strong presence in multiple regions across India, including Maharashtra, Gujarat, Madhya Pradesh, Rajasthan, Uttar Pradesh, Chhattisgarh, Jharkhand, Odisha, and Bihar. We are now expanding rapidly in the Southern states as well. Our commitment to serving diverse markets within India remains robust. However, our vision extends beyond the borders of India. In 2010, we embarked on our journey to build a global presence by commencing exports to the United Arab Emirates (UAE). Subsequently, we expanded our reach to include several other countries. Today, we proudly export and market our products in a multiple nations, including the UAE, Oman, Nepal, Maldives, Fiji, Kenya, Nigeria, Yemen, Somalia, Tanzania, Mozambique, Rwanda, Jordan, South Africa, Democratic Republic of Congo, Republic of Congo, Philippines, Mauritius, Sri Lanka, Jamaica, Kuwait, Bahrain, and more. Walplast is widely recognized as one of the most preferred manufacturers and exporters of dry mix products. Looking ahead, we continuously evaluate and assess these opportunities to expand our footprint, ensuring that our products and expertise reach customers in diverse regions.
Dealers are an important link between the organization and the end-users. Please share with us your dealers’ network and the various education and retention programs you conduct for them?
At Walplast, we recognize the invaluable role of our Dealers as a crucial bridge between our organization and the end-users. To support and empower our dealers, we have implemented a comprehensive range of initiatives aimed at enhancing their knowledge, improving customer service and engagement, and fostering a long-term, mutually beneficial relationship. We conduct thorough product training sessions for our dealers to provide in-depth insights into our product range, their applications, and the benefits they offer. By equipping our dealers with this knowledge, we ensure that they can effectively communicate the value of our products to our customers, applicators and end-users.
In addition to product training, we offer technical support to our dealers for various projects. This assistance includes guidance on product usage, application techniques, and troubleshooting. It ensures that our dealers can address technical queries and challenges with confidence, further enhancing customer satisfaction. Communication is key to maintaining strong relationships. We maintain regular contact with our dealers, not only through our Salesforce but also through modern communication channels like WhatsApp. We keep them informed about company news, updates, and new developments. We also provide regular updates through our Sales newsletter - "HomeSure Ki Duniya" to keep them abreast of the latest market trends and product knowledge. We support our dealers in enhancing their market visibility. This is achieved by providing branding materials at their counters, ensuring that our products are prominently showcased. This not only promotes our brand but also helps our dealers attract more customers.
We believe in offering personalized support tailored to the unique needs and challenges faced by our dealers. This approach strengthens our partnership and demonstrates our commitment to their success. To encourage long-term partnerships, we offer incentive programs that reward dealers for their loyalty and outstanding performance. These programs are designed to motivate our dealers to excel in customer service and product promotion.
There is paucity of skilled manpower to apply putty plastering. What are the skill nurturing trainings you conduct?
Recognizing the paucity of skilled manpower for applying putty plastering, Walplast conducts skill nurturing trainings. These trainings focus on imparting the necessary skills and techniques to applicators and workers. By enhancing their capabilities, the company aims to ensure high-quality application of our wall solution products.
What are the steps you have taken to safeguard your products against counterfeiting? Walplast takes counterfeiting seriously and has implemented measures to safeguard its products. We have our brand name registered and implemented unique and differentiated packaging identifiers. Additionally, we educate our dealers about identifying genuine products and provide them with the necessary authentication features like QR codes.
With the focus increasingly becoming environment centric with ‘Sustainability’ as the buzz word, where do you see your offerings placed in this wave?
Walplast recognizes the importance of sustainability and environmental consciousness. Our offerings are aligned with this wave by incorporating eco-friendly and sustainable practices. We strive to develop products that are low in VOC (volatile organic compounds), have minimal environmental impact, and contribute to energy efficiency in buildings.
What are the policy and regulatory changes you expect from the government to propel the wall putty market in India?
The company anticipates government support in terms of favourable tax policies, financial impetus to infrastructure development, and incentives for the construction and real estate sectors. These measures would positively impact the building solutions and wall putty market in India. Providing incentives for research and development in the construction industry can also encourage innovation and improve product standards.
Product development is a continuous process. What R&D efforts are you taking in this regard?
At Walplast, product development is a dynamic and ongoing endeavour. We are committed to staying at the forefront of innovation in the construction materials industry. To achieve this, we have established a dedicated Research and Development (R&D) wing that plays a pivotal role in driving our progress. Our R&D efforts encompass:
Innovation and upgradation: We allocate significant resources to research and development with the aim of continuously innovating and upgrading our product offerings. Our R&D team is at the forefront of exploring cutting-edge formulations, additives, and technologies that can enhance the performance, durability, and eco-friendliness of our wall putty products.
NABL Accredited Labs: We take quality control and assurance seriously. To ensure the highest product quality, we operate NABL (National Accreditation Board for Testing and Calibration Laboratories) accredited labs. These labs conduct rigorous quality checks and tests to ensure that our products meet or exceed industry standards.
Performance enhancement: Our R&D team focuses on optimizing the performance of our wall putty products. This includes improving attributes such as adhesion, smoothness, quick drying time, and resistance to environmental factors. We are committed to delivering wall putty solutions that not only meet but surpass customer expectations.
Sustainability: Recognizing the growing emphasis on sustainability, our R&D efforts also extend to developing eco-friendly formulations with reduced environmental impact. We are dedicated to aligning our products with eco-conscious practices and regulations.
Continuous learning: Our R&D team stays up to date with the latest industry trends, materials, and technologies. This commitment to continuous learning ensures that we remain at the forefront of innovation in the construction materials sector.
What are your plans for the growth of your organization for the next three years? Are there plans to launch new products or set up a manufacturing plant in the offing?
Over the next three years, we have a comprehensive plan in place to further strengthen our position in existing markets and explore new territories. Our strategic focus includes Market consolidation: We will concentrate on consolidating our presence in our current markets. This involves deepening our relationships with customers, expanding our distribution networks, and enhancing brand visibility.
Expansion into new territories: We are actively exploring opportunities to enter new territories. Our expansion strategy is driven by identifying regions with a growing demand for construction and renovation activities, both within India and internationally.
Innovation: To stay ahead in the market and cater to evolving customer needs, we are investing in research and development. Our strong R&D team, supported by a NABAL-accredited lab, is continually working to upgrade existing products and launch innovative and sustainable products and solutions. These efforts ensure that we provide products that meet the highest quality standards and align with the latest industry trends.
Manufacturing plants: In response to the increasing demand for our products, we are in the process of setting up new manufacturing plants. Recently, we launched a state-of-the-art manufacturing facility in Gujarat. Furthermore, we have additional plants in the pipeline, which are under consideration. These strategic investments are aimed at meeting the growing demand efficiently and sustainably.
At Walplast, our commitment goes beyond business growth. We are dedicated to delivering high-quality wall putty solutions that contribute to the growth and sustainability of the construction industry in India. Our mission is not only to meet customer expectations but to exceed them by consistently delivering excellence in our products and services. We believe that by aligning our goals with the evolving needs of the industry and our customers, we can make a meaningful contribution to the success of the building materials sector in India and beyond.
