Grasim paints fresh coat, drains market colour from rivals

Firm's mcap surges 84% in 4 years; combined mcap of rivals slips 23%

- KRISHNA KANT

Aditya Birla group's flagship firm, Grasim Industries, has quickly gained market confidence — at the expense of established rivals — since its foray into the domestic decorative paints space in 2021.

Over the past four years, the company's rising market capitalisation (mcap) has almost mirrored the erosion in value seen by the country's top four listed paint makers — Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel.

The collective mcap of these firms, alongside Grasim's, has hovered around ₹5 trillion, but Grasim's share in this pie has grown significantly.

Since June 2021, the combined mcap of the top four paint players has declined to ₹94,000 crore, or 23 per cent.