Grasim launches paints business: KM Birla foresees profitability, ₹10,000 crore revenue in 3 years

Aditya Birla Group Chairman Kumar Mangalam Birla said that the group's company Grasim's paints business will turn profitable in the third year of operations and will cross the topline figure of ₹10,000 crore.

Birla made these remarks at the launch of Grasim's paint business, called Birla Opus.

Birla also said that the paints business will have 120 depots, reach all cities, cover one lakh people by July and an additional 50,000 by the end of 2024. He intends to replicate the distribution reach of its cement business UltraTech in the paints business.

Grasim's paints business has already enrolled three lakh painters and contractors before the launch. Birla further said that another group company, Aditya Birla Capital, will provide preferred financing to the group's paint business dealers.

Birla Opus' portfolio comprises of over 145 products and has the width which is already at par in some segments ahead of the market leader, Birla said at the launch event in Panipat.

Grasim launched its much-awaited paints business today with the commissioning of the Panipat, Ludhiana and Cheyyar plants. The fourth plant will begin in the first quarter of financial year 2025, fifth in the second quarter and the sixth plant will launch in the fourth quarter of the next financial year.

The paints business will feature a range of products across categories like interior, exterior, waterproofing, enamel paints, wood finishes and wallpapers. Birla Opus Paints also said that it is well positioned to be amongst the market leaders in the decorative paints category.

Shares of Grasim are trading 2.4% lower at ₹2,140.