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Grasim Industries to enter paints business, invest Rs 5,000 crore in 3 years
Grasim says its entry in the paints sector will add size, scale, diversity and stability to cash flows of the existing business portfolio of the company
BusinessToday.In | January 22, 2021 | Updated 23:35 IST
Grasim Industries to enter into the paints business
Grasim Industries, a part of Aditya Birla Group, on Friday announced it has entered into the paints business, which is currently dominated by established players like Asian Paints and Nerolac. The company will make an initial investment of 5,000 crore over the next 3 years, primarily towards capital expenditure.
The textile manufacturer says that its entry in the paints sector will add size, scale, diversity and stability to cash flows of the existing business portfolio of the company. The Aditya Birla Group flagship company believes that this sector is likely to be value accretive to its shareholders.