Grasim Industries Ltd, an Aditya Birla Group company, has announced the launch of its paint business under the brand name Birla Opus. The company has said that it aims to gross ₹10,000 crore in revenue within three years of its full-scale operations.
Announcing the launch, Aditya Birla Group Chairman Kumar Mangalam Birla, said, “Birla Opus is poised to transform the paint industry with a 40% addition to current capacity. No paint company globally has ever launched in one shot— factories, operations, products, and services, at the scale that we are about to undertake.”
“Birla Opus should be seen as a scale start-up incubated by the Aditya Birla Group,” he added.
Rakshit Hargave, CEO, Birla Opus, said, “As part of the inaugural offer, consumers will get an additional 10% volume on water-based products and contractors will get loyalty benefits across most of our products.”
Birla Opus has six manufacturing plants with a total commercial capacity of 1,332 MLPA (million litres per annum).
Birla Opus products will be available in Punjab, Haryana, and Tamil Nadu from mid-March 2024 and across all cities covering 1 lakh population of towns in India by July 2024.
Chamarajanagar (Karnataka), Mahad (Maharashtra), and Kharagpur (West Bengal) units will commence production throughout FY25.
Grasim Industries stock closed at ₹2,200 on the NSE, up by 0.27 per cent on Thursday. The stock also hit a 52-week high today at ₹2,244.