JSW Paints Posts Operating Profits, Records Over Rs 2k cr gross revenues in FY24

Mumbai, May 23, 2024: JSW Paints 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. The company’s gross revenues crossed Rs 2,000 crore. The scale-up in gross revenues was supported by a significant ramp-up in both 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), mentions a press release issued by the company. The company has appointed 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 organizations 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.

Parth Jindal, Managing Director of JSW Paints said, “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 capitalize 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.”

Sundaresan AS, Joint Managing Director & CEO of JSW Paints quoted, “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.”