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Grasim Industries, part of the Aditya Birla Group, enters the paint business with the launch of Birla Opus, intensifying competition in the decorative paints sector. Grasim aims to become a profitable No. 2 player, doubling its planned investment to Rs 10,000 crore for paints in FY23. The Indian paints and coatings industry is expected to grow to Rs 1 lakh crore in the next five years. ....
Kaustubh Pawaskar of Sharekhan says "Grasim Paints poses a threat to smaller players in the paint industry, while Asian Paints market share remains stable. Pricing competition and distribution expansion is going to impact margins. ITC s potential acquisition of Prataap Snacks aligns with its FMCG growth strategy, leveraging distribution and manufacturing capabilities." ....
Grasim Industries net consolidated total income stood at Rs 30,505.27 crore in Q2 FY24, a growth of 9.98 per cent from Rs 27,737.58 crore it recorded in the similar quarter last year. ....