JSW Paints, an unlisted entity of diversified conglomerate JSW Group, said its revenues touched Rs 1,500 crore in the first nine months of FY24 and is confident of turning profitable in the current fiscal. The company is aiming to close FY24 with a topline of over Rs 2,000 crore, as per an official statement.

JSW Paints also added that it is confident of turning profitable in FY24. It had closed FY22 with a Rs 1,000 crore revenue. The paints category has seen mega investments by conglomerates including the Sajjan Jindal-led JSW and also the Aditya Birla Group. The sector has been long dominated by companies such as Asian Paints.

In the statement issued on Tuesday, the company said it is confident of achieving the next Rs 1,000 crore of revenue in a shorter time period.

Managing director Parth Jindal said the company has achieved the Rs 2,000 crore yearly revenue run rate quickly after launching water-based offerings. The company said it is adding 2,000 retailers every year.