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JSW Paints reached ₹2000 crore in revenue in FY24 and recorded its first operating profit. It aims to hit ₹5000 crore in revenue by FY26, expanding its retail and industrial coatings presence, with 2,000-2,500 retailers added annually.
JSW Paints, a subsidiary of the JSW Group, announced ₹2000 crore in revenue for FY24, marking its first operating profit since its inception five years ago. Joint Managing Director & CEO Sundaresan AS emphasised the company's rapid growth and strategic objectives.
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JSW Paints aims to achieve ₹5000 crore in revenue within two years by expanding its retail presence in the home decorative sector and introducing new products in industrial coatings. Sundaresan expressed confidence in this target, highlighting the company's systematic approach and market potential.
With a current network of 6,000 retailers, JSW Paints plans to add 2,000 to 2,500 retailers annually. The company has invested ₹900 crore in its decorative and industrial coating businesses, growing ten times faster than the industry in FY24.
The Indian paints industry has experienced robust double-digit growth, with new entrants like Aditya Birla Group and Pidilite enhancing competition. Sundaresan believes this will improve industry quality and offerings, and JSW Paints is well-prepared to face existing and new competitors.
Market Dynamics and Competition
JSW Paints aims for industry-level profitability by increasing volumes and improving efficiencies within three to four years. Sundaresan projected annual profitability growth of 3-4%, aiming for 15-18% operating margins. The company reported over 3% operating margins in FY24 and expects net profitability this fiscal year.
Despite new competitors like Birla Opus, JSW Paints is confident in its growth strategy and market position. Sundaresan emphasised the company's ability to compete with larger players through continuous innovation and expansion.
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