Grasim enters paint segment with Birla Opus, aims Rs. 10,000 cr revenue in 3 years

Grasim Industries, a leading firm within the Aditya Birla Group conglomerate, has made a significant advance by venturing into India’s decorative paint sector with the introduction of its latest brand, “Birla Opus.” Under the guidance of Chairman Kumar Mangalam Birla, the company has set ambitious targets, aiming to achieve a revenue milestone of Rs 10,000 crore within three years of commencing full-scale operations.

The paint industry size in India is currently 60,000 crores which is expected to grow to 3,00,000 crores by 2034. This huge potential is attracting a lot of companies to enter this segment.

The inauguration of three state-of-the-art Birla Opus plants in strategic locations—Panipat (Haryana), Ludhiana (Punjab), and Cheyyar (Tamil Nadu)—marks a decisive move towards realizing this vision. Initial product availability is slated for March 2024 across these regions, with a rapid expansion plan aiming to cover all cities boasting populations exceeding 100,000 by July 2024.

Further bolstering its manufacturing footprint, Grasim Industries has outlined plans for three additional plants in Chamarajanagar (Karnataka), Mahad (Maharashtra), and Kharagpur (West Bengal), slated to commence operations throughout the fiscal year 2024-25.

Also Read: Government plans to completely change KYC process. Read more…

In line with its commitment to extensive market penetration, the company endeavors to extend its distribution network to encompass over 6,000 towns by the end of the fiscal year. Birla Opus boasts an extensive product portfolio comprising over 145 items and 1200 SKUs, spanning water-based paints, enamel paints, wood finishes, waterproofing solutions, and wallpapers.

Positioning itself to cater to diverse consumer segments, Birla Opus promises offerings across various tiers, including economy, premium, luxury, designer finishes, and institutional clients. Notably, the brand introduces a comprehensive selection of over 2,300 tintable color choices, featuring 216 iconic Indian hues.

In a bid to set industry benchmarks, Birla Opus pioneers warranty provisions on enamels and wood finish products, emphasizing its customer-centric approach. Chief Executive Officer Rakshit Hargave underscores the company’s commitment to customer satisfaction, hinting at an upcoming innovative customer assurance program.

Also Read: Juniper Hotels IPO Review – GMP, Financials & Allotment Status

The launch event witnessed an inclusive invitation extended to over 100,000 paint dealers nationwide, signaling a transformative shift in consumer engagement. Despite the groundbreaking announcement, Grasim Industries’ shares experienced a marginal downturn on Thursday, trading at Rs 2,147.9 apiece on the Bombay Stock Exchange, reflecting a decrease of over 2 percent as of 1:25 pm.

Sharing Is Caring: