Grasim set to enter paints biz with ₹5,000 crore investment
Kumar Mangalam Birla, Chairman, Aditya Birla Group
(Mint)
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The Aditya Birla group’s flagship company Grasim has approved an initial infusion of ₹5,000 crore over three years to enter the paints segment, the company said.
“The foray into paints is a strategic portfolio choice for Grasim as it looks to identify new growth engines. Grasim’s strong balance sheet will facilitate this entry, which will add size, scale, and diversity to its existing portfolio of established standalone businesses, Kumar Mangalam Birla, chairman, Aditya Birla Group, said.
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Grasim Industries, an Aditya Birla Group company, has entered the paints business with an investment of ₹5,000 crore over the next three years.
Given the high margins, many large corporates that enjoy a quick brand recall are entering the ₹50,000-crore paints business in India.
Decorative paints used mainly for exterior and interior walls and wood finishes in buildings account for over 75 per cent of the market. Industrial paints used for protective coatings for varied substrates such as iron, galvanised iron, mild steel, aluminium and chimneys in automotive, marine and packaging account for the rest.
Kumar Mangalam Birla, Chairman, Aditya Birla Group, said paint is a strategic portfolio choice for Grasim as it looks to identify new growth engines.
Grasim To Enter Paints Business With Initial Investment Of Rs 5,000 Crore moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Kumar Mangalam Birla says markets are too euphoric and the economists are too pessimistic
Sanchita DashJan 25, 2021, 18:09 IST
BCCL
One of India’s biggest billionaires, referring to the bull run in the markets, said economists are now searching for alphabets that will adequately describe this trend of cautious optimism.
The Reserve Bank of India in its financial stability report pointed out that the ‘disconnect’ between India’s
stock market and economy definitely poses risks to financial stability.
Birla said that several indicators like GST collections, electricity demand, railway freight movement and passenger vehicle sales have shown positive growth numbers in the recent months.Kumar Mangalam Birla, one of India’s biggest business leaders and the owner of the over $48 billion