 "Grasim enters paint biz with Birla Opus, aims Rs 10k cr revenue in 3 years")
Grasim Industries, the flagship firm of Aditya Birla Group, announced its entry into the decorative paint business in India on Thursday with the launch of the new brand "Birla Opus". Kumar Mangalam Birla, the group's chairman, said that the company is aiming for revenue of Rs 10,000 crore in three years of full-scale operations.
The company has also inaugurated three Birla Opus plants at Panipat (Haryana), Ludhiana (Punjab), and Cheyyar (Tamil Nadu). In the announcement, it said that the products would be available to the people of these three states by March 2024. By July 2024, its products will be available in all cities with a population of over 100,000.
Moreover, the company will also have three more plants at Chamarajanagar (Karnataka), Mahad (Maharashtra) and Kharagpur (West Bengal), which will commence production throughout 2024-25.
"The company aims to expeditiously expand its distribution to over 6,000 towns by the fiscal year-end," it said.
Birla Opus will have over 145 products and 1200 SKUs across water-based paints, enamel paints, wood finishes, waterproofing and wallpapers.
"The products offered will be across consumer segments – economy, premium, luxury, designer finishes and institutional clients. In addition, Birla Opus will present the largest range of over 2,300 tintable colour choices, including 216 iconic Indian colours," the announcement said.
"Birla Opus is also setting a benchmark by offering a first-time warranty on enamels and wood finish products. As a customer-centric organisation, Birla Opus is poised to introduce a unique and pathbreaking customer assurance program shortly," said Rakshit Hargave, chief executive officer at Birla Opus.
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At the launch event, Birla invited "the entire spectrum of over 100,000 paint dealers pan India to participate in this industry revolution and transform consumer experience".
On Thursday, Grasim Industries' shares were trading in the red. As of 1:25 pm, they were down over 2 per cent and were trading at Rs 2,147.9 apiece on BSE.