Birla Pivot, Aditya Birla Group's B2B e-commerce platform for building materials, has hit a remarkable milestone of achieving Rs. 1,000 crore revenue in its first year of operations - FY24. This achievement has placed Birla Pivot, the business unit of Grasim Industries, as one of the fastest-growing entities to achieve such a milestone in the B2B e-commerce space.
Birla Pivot offers a wide range of products, now encompassing more than 35 product categories and over 18,000 SKUs sourced from 150+ Indian and international brands. These categories include essential construction materials like cement, steel, plywood, sanitaryware, tiles, among others. Additionally, in response to the increasing demand for superior yet cost-effective products, the Company has introduced its private label for Plywood and Tiles.
Birla Pivot's customer base spans top-tier EPC companies, civil contractors, real estate developers, OEMs, fabricators, dealers, and retailers. With successful deliveries to over 200 cities across 25 states, the Company has established a robust network of suppliers and logistics providers, facilitating seamless operations, and ensuring a pan-India reach. The Company's intelligent Transport Management System (TMS) digitizes processes, providing real-time updates on orders and enhancing operational efficiency across the supply chain.
On achieving this milestone, Mr. Sandeep Komaravelly, CEO, Birla Pivot, said, "India's construction industry is undergoing exponential growth and is projected to reach USD 1.4 trillion by 2025. With less than 2% digital penetration, the construction industry faces many challenges - from fragmented supplier networks, and logistical bottlenecks to access to credit. Birla Pivot's vision is to leverage technology to create smarter and more efficient solutions across the value chain for buyers and sellers. The aspiration is to reach a $1 billion revenue in the next three years."
The B2B e-commerce platform was launched in August 2023 by the Chairman of Aditya Birla Group, Mr. Kumar Mangalam Birla. Birla Pivot reinforces Mr. Birla's vision to create a new-age, high-growth digital platform that catalyses the growth of small businesses in India and provides an impetus to the government's vision of 'Digital India'.
Shares of Grasim Industries Limited was last trading in BSE at Rs. 2280.50 as compared to the previous close of Rs. 2237.55. The total number of shares traded during the day was 13192 in over 1587 trades.
The stock hit an intraday high of Rs. 2286.35 and intraday low of 2235.00. The net turnover during the day was Rs. 29881171.00. |
