Grasim Industries to invest Rs 10,000 cr in paint sector in next 3 years

27 May 2022 CW Team

The company announced that the market dynamics of the decorative paints industry had altered, with new capacity and strong growth and outlook.

The firm revealed that they advanced the execution of their 1,332 MLPA paint capacity, with plant commissioning expected to begin in the March quarter of the fiscal year (FY) 2024.

Grasim Industries announced its entry into the paints market last year, with a Rs 5,000 crore investment. As the industry's need for decorative paints grows, the business has chosen to double its expenditure.

Civil building for the North Indian market has already begun at two of its plant sites, Panipat and Ludhiana. The construction of new plants in Chamarajanagar, India, will start soon.

According to the firm, the remaining three facilities are in various stages of government approval.

In the FY that ended in March of this year, the business spent Rs 2,437 crore on capital expenditure (CapEx). Grasim alone spent Rs 579 crore in the paint industry.

The analysts revealed that the paint demand is likely to be strong in the medium term due to lower penetration and chances in new areas and services, and the Birla group expects significant growth opportunities.

The firm has zero net debt in the FY that ended in March this year, with net cash of Rs 553 crore. Grasim's consolidated revenue for the year increased by 25% year-on-year (Y-o-Y) to Rs 95,701 crore, while its consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 13% to Rs 17,772 crore.

Grasim, which owns investments in important Birla firms such as Ultratech and Aditya Birla Capital, said its consolidated earnings after tax increased by 75% Y-o-Y to Rs 7,550 crore, despite the business interruption caused by the second wave of Covid-19 in the Q12021.

In FY22, the business also announced the successful commissioning of expansion projects, including the expansion of VSF at its Vilayat facility.

Grasim shares closed 3.7% down at Rs 1,402 a share, giving the company a total value of Rs 92,335 crore.

Image Source

Grasim Industries, part of the Aditya Birla group, plans to invest Rs 10,000 crore in the paints sector over the next three years to compete with current market leader Asian Paints and new entrants such as JSW. The company announced that the market dynamics of the decorative paints industry had altered, with new capacity and strong growth and outlook. The firm revealed that they advanced the execution of their 1,332 MLPA paint capacity, with plant commissioning expected to begin in the March quarter of the fiscal year (FY) 2024. Grasim Industries announced its entry into the paints market last year, with a Rs 5,000 crore investment. As the industry's need for decorative paints grows, the business has chosen to double its expenditure. Civil building for the North Indian market has already begun at two of its plant sites, Panipat and Ludhiana. The construction of new plants in Chamarajanagar, India, will start soon. According to the firm, the remaining three facilities are in various stages of government approval. In the FY that ended in March of this year, the business spent Rs 2,437 crore on capital expenditure (CapEx). Grasim alone spent Rs 579 crore in the paint industry. The analysts revealed that the paint demand is likely to be strong in the medium term due to lower penetration and chances in new areas and services, and the Birla group expects significant growth opportunities. The firm has zero net debt in the FY that ended in March this year, with net cash of Rs 553 crore. Grasim's consolidated revenue for the year increased by 25% year-on-year (Y-o-Y) to Rs 95,701 crore, while its consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 13% to Rs 17,772 crore. Grasim, which owns investments in important Birla firms such as Ultratech and Aditya Birla Capital, said its consolidated earnings after tax increased by 75% Y-o-Y to Rs 7,550 crore, despite the business interruption caused by the second wave of Covid-19 in the Q12021. In FY22, the business also announced the successful commissioning of expansion projects, including the expansion of VSF at its Vilayat facility. Grasim shares closed 3.7% down at Rs 1,402 a share, giving the company a total value of Rs 92,335 crore. Image Source

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