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Aditya Birla Group Enters Paint Market with 'Birla Opus' Brand

26 Mar 2024 , 03:16 PM

As per Grasim Industries, today marks the debut of the 'Birla Opus Paints' business and the inauguration of three plants by the company's chairman, Kumar Mangalam Birla.

The paint manufacturing facilities owned by the Birla Group are situated at Cheyyar (Tamil Nadu), Panipat (Haryana), and Ludhiana (Punjab).

Grasim's arrival, according to reports, may change the dynamics of market share and profitability in a sector that has historically expanded with significantly fewer fluctuations. 

A little more than three years ago, Grasim reportedly declared its intention to enter the paint industry. It initially invested ₹5,000 Crore, which it then doubled to ₹10,000 Crore.

According to media estimates, the paint industry's overall profit pool may somewhat decline as a result of players having to increase their advertising expenditures in order to maintain market share. 

According to the sources, tier-2 and tier-3 players—from whom Grasim hopes to gain market share—will be more negatively impacted by increased advertising spending.

The Aditya Birla Group's flagship business, Grasim Industries, is a well-known, diversified player with a strong presence in numerous industries. It is the biggest manufacturer of innovative materials, linen yarn, textiles, and chlor-alkali in India. It is also a major global producer of viscose filament yarn and staple fibre. The corporation has joined the paint industry, establishing six factories around India.

Consolidated net profit for the Aditya Birla Group companies fell 39.8% to ₹1,514.44 Crore in Q3 FY24 from ₹2,515.78 Crore in Q3 FY23. Nonetheless, during the quarter that ended on December 31, 2023, revenue from operations increased 11.62% YoY to ₹31,965.48 Crore.

The stock increased by 0.27% and is now trading at ₹2200 on the BSE.

For feedback and suggestions, write to us at editorial@iifl.com

Grasim Industries - Wikipedia

Related Tags

  • Birla
  • Grasim Industries
  • Paint
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