Grasim Industries Limited, a flagship firm of the Aditya Birla Group, announced the ‘Birla Opus’ brand name for its paints business on Thursday. Birla Opus is expected to hit the market in the fourth quarter of FY24.
Birla Opus: Aditya Birla Group’s Grasim Upcomming Paints Business
Grasim stated that it will provide a complete line of high-quality decorative paints. It has earlier committed Rs 10,000 crore to the paints business.
The company’s cutting-edge manufacturing units in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal will have a combined capacity of 1,332 million litres per year and would serve demand centers across the country.
The decorative paints industry in India is currently estimated to be around Rs 70,000 crore. The paints business is growing by double digits year on year, spurred by rising consumer ambitions and the government’s campaign for “Housing for All.”
Asian Paints, situated in Mumbai, is currently the country’s leading decorative paint player. Berger Paints, JSW Paints, and Nippon Paints are among significant competitors in the extremely competitive market. “Our foray into decorative paints is a strategic portfolio choice that allows us to tap into a high-growth market and expand our presence in the vibrant Indian consumer landscape,” said Kumar Mangalam Birla, Chairman of Aditya Birla Group.
“Over the last couple of years, the company has laid a solid foundation for a successful business launch.” We hope to become a lucrative No. 2 player in the future years, and introducing our brand name is the first of many steps in that direction.” Grasim is a diverse Aditya Birla Group company that ranks among the top publicly traded firms.