JSW Paints posts its first operating profits within five years of business launch

03 June 2024

JSW Paints, one of India’s leading environment-friendly paint company and part of the US$24bn JSW Group, posted its first full year operating profits at an EBITDA margin of more than 3% (approx. Rs 67 crores) for the fiscal year ended March 31, 2024. This makes JSW Paints the first and youngest Indian paint company to post operating profits in the shortest span of five years from its business launch. The company’s gross revenues crossed the targeted Rs 2,000 crore milestone registering more than 10x industry growth rate. The scale-up in gross revenues was supported by a significant ramp-up in both its Decorative Paints and Industrial Coatings businesses.

The current growth rate puts JSW Paints firmly on track to pursue its target of achieving Rs 5,000 crore within the next two years (i.e. by FY26). This will be supported by significant business transformation initiatives in the decorative paints segment. The company has appointed Mr Ashish Rai as Chief Business Officer – Decorative to lead the transformation & growth in its Decorative Paints Business.

With over two decades of experience in global organisations like Unilever, where he led Distributive Trade Transformation, Ashish will be leading the Decorative Paints Business at JSW Paints to continuously deliver profitable top line growth.


Architectural coatings in Bangladesh and Nepal

According to Parth Jindal, Managing Director of JSW Paints, “It has been an exciting and eventful five years for JSW Paints to achieve our guidance of being the youngest paints company to turn profitable in the shortest span of time. We are now determined to capitalise on the new opportunities as Indian consumers evolve their preferences towards purposeful living and environment-friendly products. As we navigate the next phase of growth in our manufacturing and marketing investments, I am happy to welcome Ashish Rai to transform and lead the next phase of growth in our decorative paints business.”

JSW Paints remains committed to building its business with the youngest, most gender diverse and dynamic team in the industry with an average working age of 29 years. According to Mr. Sundaresan AS, Joint Managing Director & CEO of JSW Paints, “We are a young team and aspire to do things never done before. We are delighted that the difference we seek to make is well received, fueling our fast- paced growth. We promise to continue bringing world class products and services to the doorstep of our consumers and make their homes truly beautiful.”

Ashish Rai, Chief Business Officer – Decoratives at JSW Paints said, “I am thrilled to join JSW Paints at a pivotal juncture where the business is clearly ready to accelerate its growth momentum. The Decorative Paints category is closely tied to the joy Indian consumers feel in transforming their homes. The next phase of growth in our decorative paints business is supported by strong tailwinds of digital advancements, elevated consumer aspirations and our own commitment to exceed the ordinary by offering innovative and environment-friendly products that will delight our consumers.”

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