Aditya Birla group's A Grasim Industries is planning to invest ₹10,000 crore in the paints business in the next three years. Grasim's competitors include current market leader Asian Paints and new entrants like JSW.
Soon after its board meeting on Tuesday, the company announced that the market dynamics of the decorative paints sector has changed with capacities new being announced, backed by strong growth and outlook.
"We have accelerated the execution of our paint's capacity of 1,332 MLPA (million litres per annum) with the commissioning of plants to start by March quarter of the financial year 2024," said the company.
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