JSW Paints sees revenueat~2.2kcr by end of FY24

JSW Paints’ revenue has reached ~2,000 crore in 202324 (FY24), and the conglomerate anticipates that its paint business revenue will touch ~2,200 crore by the end of FY24.

In 2022-23, its revenue stood at ~1,616 crore. The company has already achieved break-even at the operating level during the year, and its earnings before interest, tax, depreciation, and amortisation margins are expected to be in single digits. A S Sundaresan, joint managing director and chief executive officer of JSW Paints, said that the company’s turnover is projected to grow by an additional ~1,000 crore in 2024-25.

“We expect our revenues to reach ~5,000 crore by 202526,” Sundaresan told Business Standard in an interview.

He also added that the firm currently operates two plants with a capacity of 210,000 kilolitres. Although there are plans to start another plant, the plan remains on the drawing board. Presently, 60 per cent of its revenue comes from the decorative paint business.

Sundaresan said, “The decorative (paint) segment will grow at a faster pace, and over time, it will contribute to 75 per cent of the revenue, allowing us to grow faster than the industry.”

Currently, the firm also sees 15 per cent of its sales coming from new products, and it expects the ratio of new product contributions to remain in the 10-15 per cent range in the years to come as it plans to launch new products.

“Our pioneering efforts to build a strong, holistic waterbased paint portfolio have placed us in a commanding position to service the fastevolving preferences of Indian consumers. It’s a moment of great pride that JSW Group’s first true consumer-facing business has been so wellreceived across the country, enabling us to cross the ~2,000 crore revenue mark so quickly from when we entered the market,” Parth Jindal, managing director of JSW Paints, said in the company’s release.