On Thursday, Grasim Industries unveiled the brand name “Birla Opus” for its paints division. The flagship company of the Aditya Birla Group intends to invest Rs 10,000 crore in this division.
According to a statement from the Aditya Birla group company Grasim Industries, Birla Opus will be introduced in Q4FY24 and will compete with other decorative paints market players. In order to compete with the current producers, such as Asian Paints, Berger Paints, Kansai Nerolac Paints, and Akzo Nobel India, among others, Grasim had doubled its planned investment to Rs 10,000 crore last year.
Six locations in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal are home to the company’s manufacturing facilities. It will supply demand centers all over the nation and have a total capacity of 1,332 million liters per annum (MLPA), according to the statement.
The decorative paints venture, according to Kumar Mangalam Birla, chairman of the Aditya Birla Group, is a strategic portfolio decision that allows them to enter a rapidly expanding market.
“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,” he said.
The current estimated value of India’s decorative paints industry stood at Rs 70,000 crore and it is witnessing double-digit growth year-on-year driven by rising consumer aspirations and the government’s push towards ‘Housing for All’. Grasim is a diversified company of the Aditya Birla Group and ranks amongst the top publicly listed companies in India. For the financial year ended on March 31, 2023, Grasim Industries had a growth of 23 per cent in consolidated revenues from operations, reaching an all-time high of Rs 1.17 lakh crore.
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