JSW Paints turns EBITDA-positive; plans to invest ₹900 cr over 3 years

JSW Paints plans to invest ₹800-900 crore over the next three years as it registered its first ever operating profit in the last five years amid intense competition from new entrants.

The company has registered an EBITDA of ₹67 crore in the financial year ended March 2024 and emerged profitable for the first time in the five years of its operations. Its revenue was up 30 per cent at ₹2,100 crore against ₹1,616 crore a year ago.

AS Sundaresan, Joint MD and CEO, JSW Paints, told businessline that the company’s move to invest ahead of the curve and disrupt the market through its ‘any colour, one price’ offer had helped in achieving the industry-beating growth.

In the last five years, the company invested ₹800-900 crore in capacity building and marketing, and will invest a similar amount over the next three years, he said.

• Read: JSW Paints to clock ₹2,000 cr turnover this fiscal

“Given the response from the market and growth prospects, we are confident of turning profitable this fiscal,” he said.

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JSW Paints to clock ₹2,000 cr turnover this fiscal

JSW Paints targets a topline of ₹5,000 crore in the next two years by expanding its retail presence in the home decorative business and adding more products in the industrial coating business.

The company has appointed Ashish Rai as Chief Business Officer–Decorative.

Parth Jindal, Managing Director, JSW Paints, said it has been an exciting and eventful five years for JSW Paints as it went on to become the youngest paints company to turn profitable in the shortest time.

“We are now determined to capitalise on new opportunities as Indian consumers evolve their preferences towards purposeful living and environment-friendly products,” he said.

JSW Paints recently launched a waterproofing product, iBlok. Aquaglo is a water-based enamel for both wood and metal application.