JSW Paints has set aside an investment of about Rs 900 crore for the next two years, even as it is readying for an initial public offering (IPO) in the next 3-5 years.

The company, which has posted its first full year of operating profits in FY24 after five years of launch, expects to be net profit positive in FY25.

“So far, we have invested about Rs 800-900 crore in the last five years, and we are looking to invest a similar amount in the next couple of years. The capex would be to increase our capacity by about 50% at our existing locations,” JSW Paints joint managing director and CEO AS Sundaresan told FE.

JSW Paints has two plants  — one making decorative in Vijayanagar, Karnataka and an industrial coatings plant in Vasind, Maharashtra — with a total manufacturing capacity of 170,000 kilolitres.

The firm is also setting up another facility in Madhya Pradesh, which would be operational in three years.