Grasim Industries Ltd, the flagship of the Aditya Birla Group, announced on June 25 that it has commenced commercial production at the resin manufacturing block of its Birla Opus Paints plant in Mahad, Maharashtra. The facility, with an installed capacity of 22 million litres per annum (MLPA), began operations on June 24, 2025. This in-house production will support the resin requirements for the company’s paints, ensuring better control over quality and supply. Resins are essential for paint formulations, serving as binders that provide adhesion, durability, and film formation.
Mahad Plant Expands Capabilities to Support Paint Business
The launch of resin production follows the plant’s earlier commissioning in March 2025, when Grasim started commercial operations for its water-based (180 MLPA), distemper (20 MLPA), and solvent-based (30 MLPA) paint lines. The Mahad facility plays a central role in the company’s strategy to build a fully integrated paint manufacturing ecosystem under the Birla Opus brand.
Grasim’s continued investments in manufacturing capacity have been well received by the market. On June 10, Morgan Stanley upgraded its rating on Grasim from “equal-weight” to “overweight,” citing strong growth potential. The investment bank also raised its price target for the Aditya Birla Group company.
Strong Financials and Ongoing Industry Challenges
For the fourth quarter of FY25, Grasim reported a 31.9% year-on-year revenue increase to ₹8,926 crore, surpassing analyst estimates of ₹8,675 crore. The performance was driven by healthy growth across both its established and new businesses.
In parallel, Grasim has taken a firm stance on industry practices, filing a complaint with the Competition Commission of India last November. The company alleged that Asian Paints engaged in anti-competitive behavior by restricting supply and limiting dealer access to tinting machines. A formal investigation by the regulator is expected soon.
Grasim shares are trading slightly lower at ₹2,805 on the BSE but have gained 15% so far this year.
