Sikkim News Update

Aditya Birla Group expects its paint company “Birla Opus” to generate Rs 10,000 crore in revenue in three years

<p>Aditya Birla Group, a Mumbai-based cement-to-aluminum conglomerate, announced on Thursday the launch of goods and services under its new decorative paints brand “Birla Opus” in Panipat, Haryana. The company hopes to generate Rs 10,000 crore in gross revenue from its paint business within three years of full-scale operations.</p>
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<p>With an initial investment of Rs 10,000 crore, this statement signifies the Aditya Birla Group’s entrance into the fast growing Rs. 80,000 billion Indian decorative paints industry. Grasim Industries Ltd., the group flagship firm, is setting up the Birla Opus business.</p>
<p>“The extensive knowledge of the construction materials ecosystem that the Aditya Birla Group has amassed over the years gives us a distinct advantage. Therefore, Birla Opus, with a 40% increase in its present capacity, is well-positioned to revolutionize the paint business. According to Kumar Mangalam Birla, Chairman of the Aditya Birla Group, “no paint company in the world has ever launched factories, operations, products, and services—at the scale that we are about to undertake in one shot.”</p>
<p>He went on, “Birla Opus might be seen as a large-scale start-up that the Aditya Birla Group has fostered. It blends the power, dependability, and brand strength of a venerable and active conglomerate with the agility, vigor, and thrift of a start-up.”</p>
<p>By July 2024, Birla Opus goods would be accessible in all 1 lakh Indian towns as well as in Punjab, Haryana, and Tamil Nadu starting in mid-March 2024. By the conclusion of the fiscal year, the firm hopes to have quickly expanded its distribution to more than 6,000 communities. According to the corporation, this would be the most rapid and extensive paint brand launch in India.</p>
<p>In the areas of water-based paints, enamel paints, wood finishes, waterproofing, and wallpaper, Birla Opus will provide more than 145 items and more than 1200 SKUs.</p>
<p>Products in the following consumer sectors will be available: economy, premium, luxury, designer finishes, and institutional customers. Furthermore, Birla Opus will provide more than 2,300 tintable color options, including 216 “iconic” Indian hues.</p>
<p>“On the strength of strong in-house R&D and extensive field validations, Birla Opus is committing to a higher product warranty than the leading players across most water-based products,” said Rakshit Hargave, CEO of Birla Opus. By providing a first-time guarantee on enamels and wood finish products, Birla Opus is also breaking new ground. Being a customer-focused company, Birla Opus is about to launch a revolutionary and one-of-a-kind client assurance program. Customers will get an extra 10% volume on water-based goods as part of the launch offer, and contractors will receive loyalty advantages on the majority of our product line.”</p>
<p>With six production facilities and 1,332 MLPA (million litres per year) of total commercial capacity, Birla Opus has significantly increased industry capacity by 40%. As of Thursday, the Birla Opus factories in Cheyyar (Tamil Nadu), Ludhiana (Punjab), and Panipat (Haryana) were operating. During FY 25, production will start at the plants in Mahad (Maharashtra), Kharagpur (West Bengal), and Chamarajanagar (Karnataka).</p>
<p>By 2034, the Indian economy is predicted to grow to a GDP of 10 trillion US dollars, and the paint industry is estimated to have crossed the Rs 3,00,000 crore threshold. According to the firm, Birla Opus is in a unique position to benefit from this changing environment.</p>
<p>Since formally entering the decorative paint industry, Birla will have to contend with fierce rivalry from established firms, particularly Asian Paints, which currently holds the top spot in the industry. Other players include Nerolac, Berger Paints, and Kansai in addition to Asian Paints.</p>