NEW DELHI: Grasim Industries Limited, a flagship company of the Aditya Birla Group, on Thursday unveiled the brand name of its paints business, ‘Birla Opus’. The market launch of Birla Opus is scheduled for the fourth quarter of FY24.
Grasim said that it will offer a full suite of high-quality products in the decorative paints segment. It had previously committed an investment of Rs 10,000 crore towards setting up the paints business.
The company’s state-of-the-art manufacturing plants located in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal, will have a total capacity of 1,332 million litres per annum and will serve demand centres across the country.
The current estimated value of India’s decorative paints industry is Rs 70,000 crore. The paints industry is witnessing double-digit growth year-on-year driven by rising consumer aspirations and the government’s push towards ‘Housing for All’.
At present, Mumbai-based Asian Paints is the country’s largest player in the decorative paint business. Berger Paints, JSW paints, and Nippon Paints are other strong players in the highly competitive space. Kumar Mangalam Birla, Chairman, of Aditya Birla Group said, “Our foray into decorative paints is a strategic portfolio choice that enables us to tap into a high-growth market and expand our presence in the vibrant Indian consumer landscape.”
“The company has over the last couple of years built a strong foundation to enable a successful business launch. We endeavour to become a profitable No. 2 player in the coming years and announcing our brand name is the first of many steps that will follow in this direction.” Grasim is a diversified company of the Aditya Birla Group and ranks amongst the top publicly listed firms.