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, the company on Thursday announced through an exchange filing.
“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," said Kumar Mangalam Birla, Chairman, Aditya Birla Group.
Grasim Investments in paint business
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).
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’.
Grasim Industries Limited shares
The shares of Grasim Industries Limited on Thurday at 11:17 am IST were trading at Rs 1,948.35, up by 0.79 perecnt.