Grasim Industries Limited, a flagship company of the Aditya Birla Group, today unveiled the brand name of its paints business, 'Birla Opus'. The market launch of Birla Opus is scheduled for Q4FY24. Grasim will offer a full suite of high-quality products in the decorative paints segment.
Mr Kumar Mangalam Birla, Chairman, 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. Our paints business will build on the power and trust associated with the Aditya Birla brand. 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."
Ahead of the launch, Grasim has successfully piloted the first-of-its-kind painting services in key metros and introduced a range of imported wood finishes. A cutting-edge R&D facility has already been set up in Maharashtra.
Grasim 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 (MLPA), 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 yearon-year driven by rising consumer aspirations and the government's push towards 'Housing for All'.
Shares of Grasim Industries Limited was last trading in BSE at Rs. 1933.65 as compared to the previous close of Rs. 1870.80. The total number of shares traded during the day was 61595 in over 4063 trades.
The stock hit an intraday high of Rs. 1947.75 and intraday low of 1858.65. The net turnover during the day was Rs. 117835920.00.