JSW Paints, an unlisted subsidiary of diversified conglomerate JSW Group, said on Tuesday that its revenues reached Rs 1,500 crore in the first nine months of FY24 and that it expects to become profitable in the current fiscal year. According to an official release, the business expects to complete FY24 with a topline of more than Rs 2,000 crore.
JSW Paints has stated that the company is hopeful of earning a profit in FY24. It ended FY22 with a revenue of Rs 1,000 crore.
Conglomerates such as the Aditya Birla Group and Sajjan Jindal-led JSW have made significant investments in the paints area. Asian Paints has long been the sector’s dominant player.
In a statement made on Tuesday, the firm stated that it is sure of earning the next Rs 1,000 crore in sales in a shorter period.
Parth Jindal, managing director, stated that the business soon established an annual revenue run rate of Rs 2,000 crore after releasing water-based solutions.
The firm stated that it adds 2,000 stores each year.
