Birla Opus Paints gaining market share amid industry slowdown: CEO

Birla Opus Paints, the paint business of Aditya Birla Group, is steadily increasing its market share despite a slowdown in the decorative paint industry. Rakshit Hargave, CEO of Birla Opus Paints, stated that the company is on track to achieve a “high single-digit” market share by the end of FY25 and aims to become the second-largest player in the decorative paint market within the next 3-4 years.

“We will close this fiscal year with a high single-digit market share and plan to continue gaining share next year. By reaching Rs 10,000 crore in revenue over the next 3-4 years, we aim to secure the number 2 position,” Hargave told The New Indian Express.

Asian Paints, with a share of more than 50%, is the largest player in the domestic paints market, followed by Berger Paints and Kansai Nerolac.

Birla Opus on Thursday launched its first company-owned and operated Birla Opus Paint Studio in Gurugram, focusing on experiential retail. The company plans to open similar experience centres in major cities like Mumbai, Delhi, Bangalore, Hyderabad and Kolkata in the coming months.

Entering the paint market in February 2024 with an initial investment of Rs 10,000 crore, Birla Opus has aggressively expanded its presence. The brand is now available in nearly 6,000 towns and expects to have 50,000 dealers by FY25-end.