Grasim Industries, the largest company of the Aditya Birla Group with Market cap of 1.12 L crore, has entered into Indian paint industry by launching its paint services under the brand name 'Sparkle'.
They are currently testing the services in Mumbai, Pune, and Bengaluru, and it is available only for Aditya Birla Group employees, their friends, and family.
As of now, Grasim Industries doesn't have its own paint manufacturing unit, so they are using paint products from authorized dealers of different paint companies. They have set up a team of designers, paint and color experts, and product specialists to ensure quality. Each project is supervised by a dedicated project-in-charge.
According to a Jefferies report, Grasim Industries plans to start its own paint production by March 2024 and aims to become the second-largest paint company in India. Another company, JSW Paints, also aims to capture 10% of the Indian paint market by the financial year 2025-26.
The paint industry in India is expected to grow significantly in the next few years, adding about 2.4 million kL capacity, which is about 25% of the current industry capacity. Grasim Industries is expected to contribute almost 50% of this capacity expansion, which would require an investment of approximately Rs 220 billion.
By entering the painting industry, Grasim Industries hopes to become a major player in the market. They plan to establish their own paint manufacturing unit and contribute to the growth of the industry in India.
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