Grasim Industries ventures into paint business with Birla Opus, eyes second-largest position in the sector
Grasim Industries, the flagship company of the Aditya Birla Group, has made its foray into the paint business with the launch of their highly anticipated brand, Birla Opus.
This move intensifies competition in the decorative paints sector, currently dominated by major players like Asian Paints and Berger. The Mumbai-headquartered group aims to become a profitable No. 2 player in the coming years.
«The launch of our paints business mirrors our zest for innovation. The booming construction sector is a major reason for this venture,» said Chairman Kumar Mangalam Birla at the launch event.
«Our scale of ambition is being matched with scope of India's industrial revolution. Journey in the paints business is a strategic expansion,» he said. He added that the potential for growth in this business was immense.
Birla had expressed the group's ambition to secure a profitable second position in the paints market in the coming years during the company's AGM.
In FY23, Grasim doubled its planned investment to Rs 10,000 crore for establishing its presence in the paints industry. With manufacturing facilities already operational in Haryana, Grasim aims for a total capacity of 1,332 million litres per annum (MLPA). Additionally, the company has established a research and development facility in Maharashtra.
Companies engaged in the paints business have high hopes, with one company executive pegging the size of Indian paints & coatings industry to grow to Rs 1 lakh crore in the next five years from the present Rs 62,000 crore.
