Nirbhay Colours India Share Price

Nirbhay Colours India Limited, formerly known as Parth Industries Limited was incorporated on 22 June, 1993. The name of the Company was changed to Nirbhay Colours India Limited on October 13, 2020. The Company is engaged in the Professional/ Consultancy Services in Multimedia Advertisement Space or Time. With the opening up of economy, the top, and not only premium products, Company has entered the market while high priced ones are being sold in small, unassuming wayside stores. These include designer and status symbol pens, be it Parker, Cross, Mont Blanc or Cartier. The market for writing pens is estimated at 1600 to 2400 million pieces a year. By value, the total market for writing instruments is estimated at Rs 22 billion and is growing at around 8 to 9% annually. The informal sectors contribution to the market is placed at over Rs 6.6 billion or 30% of the total market by value and 65% by quantum. While by numbers the lowend market accounts for 90%, the premium and topend segment accounts for less than a percent. The balance is accounted for by the moderately priced midpriced products.The Indian market consists of around 15 large scale, 100 midsize and 900 small scale manufacturing units. These units have a combined production capacity of over 10 million pieces a day. The market is segmented broadly into products required by young students (many of whom depend only on pencils and ball point pens), frequent users (in offices, commercial and public establishments), occasional users (like housewives and literate manual workers). While Indias literacy rate is low, all literates do not use ball or fountain pens, if at all, only occasionally. Obviously, the per person usage is limited mainly to young students and frequent users segments. The usage norms differ from function to function even as it does from one person to another and certainly from one segment to another. The existing scenario gives an indication that the market in being dominated by the ball point pens, which accounts for 70% of the total demand for pens in India, followed by gel pens (20%), fountain pens (4%). The rest accounts for only 6% of the market. A majority of users, 85%, use blue ink, while black, red and other color inks are used by about 15%. Many of the engineers, project consultant industrial consultancy firms in India and worldwide use companys project reports as one of the input in doing their analysis. The Company has been planning to venture into the chemical sector very soon.