Grasim within striking distance of ₹2 lakh crore m-cap on B2B e-commerce, paints pivot: Kumar Mangalam Birla

Grasim Industries is on the cusp of achieving a market capitalisation of ₹2 lakh crore, with its m-cap reaching about ₹1.95 lakh crore—an all-time high for the company—helped by its pivot into two ‘high-potential areas’ of B2B e-commerce in the building materials space and the paints industry, Chairman Kumar Mangalam Birla said in his address at the company’s 78th Annual General Meeting.

The pivot is reflective of Grasim Industries’ legacy of dynamism, according to Birla. “Grasim Industries has, over the past 18 months, ventured into two new high-potential areas, Birla Pivot, a next-generation B2B e-commerce platform in the building materials space, and Birla Opus, a bold entry into the paints industry. These new ventures, alongside Ultratech Cement, our flagship in the infrastructure space, significantly deepen our presence in the building materials ecosystem,” explained Birla.

Birla also highlighted that the building materials segment of Grasim Industries is poised to play a pivotal role in shaping the physical and economic contours of India’s current national transformation of charting its course from a $5 trillion to $10 trillion economy. “Today, construction accounts for 8–9% of India’s GDP,” he said. Birla also expressed optimism in the construction sector, aided by increased focus on infrastructure projects through Gati Shakti, higher allocation for affordable housing schemes, and asset monetisation plans aimed at unlocking infrastructure funds.

FY25 was also a landmark year for Grasim Industries, clocking its highest-ever consolidated revenue of ₹1.48 lakh crore. Standalone revenue also reached a record high of ₹31,563 crore, a 22% year-on-year growth. Out of the total ₹17,000 crore earmarked for capital expenditure, ₹13,000 crore has been directed towards growth incentives.

Birla Opus has been able to commission five state-of-the-art manufacturing facilities in under 18 months, with a sixth facility to go live next month. “Once fully operational, Birla Opus will command approximately 24% of the installed capacity in India’s decorative paints industry, a staggering entry for a new player in an industry that has been around for more than five decades,” he added.

Within six months of the pan-India portfolio launch of Birla Opus, it has emerged as the third-largest player in the decorative paints industry. “When combined with our putty business, as is standard in industry benchmarks, our market share has already crossed the double-digit threshold,” Birla said. Birla Opus is on track to align the revenue share of its installed capacity of about 24% and to achieve the near-term revenue aspiration of ₹10,000 crore by the third year of its full-scale operations.

Kumar Mangalam Birla also shared updates on Birla Pivot, which has reached a revenue run rate of more than ₹5,500 crore. “The business revenue continues to grow in line with the plan and remains on track to cross ₹8,500 crore in annualised revenue by FY27, the $1 billion guidance given by the company earlier.”