The Business Bytes
TBB BUREAU
MUMBAI, NOV 11, 2021
Driven by economic recovery, healthy demand growth and increasing consumer preference for environment-friendly products, JSW Paints, part of the USD 13 billion JSW Group, aims to achieve its goal of a Rs 1,000 crore revenue in the current financial year (FY2021-22).
The company has crossed monthly sales of Rs 100 crore in October this year, a company statement said.
”The Rs 100-crore monthly sales milestone puts JSW Paints firmly on track to achieve its goal of crossing Rs 1,000 crore revenue in FY22,” said JSW Paints.
According to the company, this is an important milestone and JSW Paints has become the fastest Indian paints company to achieve this feat.
”In the first half of FY22, the company has grown approximately 120 per cent on a year-on-year basis. During this period, its decorative business has trebled in size,” it said.
JSW Paints has also completed its national roll-out to become the only Indian paints company to achieve a pan-India presence within 100 weeks of business operations.
The company is also granting stock options to all employees. JSW Group has already rolled out stock options to all its employees in the Steel & Energy businesses.
”Our family-friendly products, ‘any colour one price’ offerings and our simple, sure and swift solutions are truly making JSW Paints the preferred choice in the market.
”The achievement of Rs 100 crore monthly sales within 100 weeks of our business operations is a testimony to the entire team’s commitment to go beyond the call of duty,” JSW Paints Managing Director Parth Jindal said.
“Our growth trajectory in the last 100 weeks, despite challenges posed by the pandemic, validates our customers’ acceptance of our thoughtful disruptions like ‘Any Colour One Price’. With an average age below 30, our young team working with a start-up mindset has achieved100 crore monthly sales in such a short time. JSW Paints Kshitij ESOP 2021 appreciates their efforts and encourages them to continue making a thoughtful difference everyday,” said AS Sundaresan, Joint MD & CEO of JSW Paints.
JSW had entered into the paint segment in May 2019.
