Grasim Industries, the flagship company of the Aditya Birla Group, declared that it would be launching its paints business, which will be known as Birla Opus, in the fourth quarter of FY24. The company stated that this move marks their entry into the decorative paints segment.
Kumar Mangalam Birla, the chairman of the Aditya Birla Group, expressed that their decision to venture into decorative paints is a strategic choice within their portfolio. He mentioned that this strategic move will allow them to tap into a high-growth market and expand their presence in the dynamic Indian consumer landscape. He also added that their goal is to become a profitable player ranked second in the industry in the upcoming years.
Previously, Grasim had committed to investing approximately Rs 100 billion to establish its presence in the paints business. In this endeavour, they plan to compete with established manufacturers such as Asian Paints, Berger Paints, Kansai Nerolac Paints, and Akzo Nobel India, among others.
In the meantime, the company reported that it had successfully conducted pilot runs of its painting services in major metropolitan areas and introduced a variety of imported wood finishes to the market.
Grasim proudly revealed the locations of its manufacturing plants, which are situated in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal. These plants will collectively have a total capacity of 1,332 million litres per annum (MLPA). Additionally, they have established a research and development (R&D) facility in Maharashtra.
The current valuation of India's decorative paints industry stands at Rs 700 billion.
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