What began as one man’s leap of faith from a small village in Haryana’s Hisar district has grown into a diversified, multi-vertical industrial group worth an estimated ₹2,000 crore. The Neelgiri Group – formerly known as Sur Minimum Chemicals – is the story of Founder & CMD Mr. Bajrang Goyal, who moved to Delhi in 2004 while still completing his graduation and built a business from scratch through sheer persistence. Today, the group supplies over 300 products spanning raw materials, specialty chemicals, machinery, and even electric vehicles, and has emerged as one of the most closely watched names in India’s road-marking and industrial coatings supply chain.
The One-Stop Solution That Built the Business
Neelgiri’s core competitive edge is its integrated “One-Stop Solution” model, an idea that took shape in 2010 when Goyal spotted a glaring inefficiency in the road-marking industry: manufacturers were sourcing 12 different raw materials from eight separate suppliers, each with its own lead times, minimum order quantities, and freight costs.
Neelgiri’s answer was to bundle everything a road-marking manufacturer needs into a single, ready-to-use package, including:
- C5 resins – the primary binder system used in thermoplastic road marking
- Glass beads – for retroreflectivity on road surfaces
- EVA (Ethylene Vinyl Acetate) – for elasticity and crack resistance
- Titanium Dioxide – for opacity and high whiteness
The group’s involvement doesn’t stop at raw materials. Neelgiri also offers plant setup services, technical formulation support, and machinery supply, and has helped establish 70 to 80 road-marking plants across India and international markets. It further supports clients in building NABL-accredited laboratories equipped with skid resistance testers, pendulum friction testers, and thickness gauges, while guiding them through ISO, BIS, and IRC certification processes.
Neelgiri Group at a Glance
- Group turnover: ₹2,000 crore (FY26)
- IPO target: ₹12,000–13,000 crore by 2029–30
- Plants set up: 70–80 road-marking plants, in India and internationally
- Product range: 300+ SKUs across paints, chemicals, and machinery
- Warehouses: Delhi, Mundra, Kolkata, Chennai, Mumbai, and Rajasthan
Strategic Diversification Into High-Growth Verticals
Wary of over-relying on any single business line, Neelgiri has steadily built out a portfolio of adjacent ventures:
- Neelgiri Machinery Global – manufactures injection moulding machines used to produce paint buckets, automotive components, and home appliance parts, directly serving the packaging needs of the paint industry.
- Neelgiri Polyplast & Pack Craft – focused on plastic compounding using PP, HDPE, and ABS grades, along with PP hollow sheets used in advertising hoardings and agricultural applications.
- Neelgiri Motocorp – launched in 2026, this vertical marks the group’s entry into the premium electric scooter market, positioning it at the intersection of mobility and sustainability.
- Strategic logistics network – warehouses positioned near major seaports (Mundra, Kolkata, Chennai, Mumbai) cut freight costs and enable rapid delivery across manufacturing clusters.
Social Purpose at the Heart of Scale
Even as it chases exponential growth, the group has stayed rooted in its social commitments. The Neelgiri Gau Seva Dham, a 14-acre sanctuary in Kharkhoda, Haryana, currently shelters more than 550 cows – funded entirely through group revenues rather than external donations. The long-term plan is to expand the sanctuary to house 5,000 cows, built as a self-sustaining model integrated with biogas and organic fertiliser production.
For a business built on chemicals and machinery, this enduring commitment to land and animal welfare reflects a simple organisational philosophy: growth and service aren’t competing priorities – they’re part of the same journey.
Leave a comment