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Informist, Wednesday, Nov. 5, 2025

 

--Grasim: Birla Opus Paints CEO Rakshit Hargave resigned

--Grasim: Birla Opus CEO Hargave resigned to pursue opportunities outside co

--Grasim: MD Himanshu Kapania to oversee paints ops till new CEO is named 

 

MUMBAI – Grasim Industries Ltd. Wednesday said Rakshit Hargave, chief executive officer of the company's decorative paints business Birla Opus Paints, has resigned effective Wednesday, to pursue opportunities outside the company. Grasim's Managing Director Himanshu Kapania will directly oversee the paints business till a new CEO is appointed, the company said in an exchange filing.

 

Hargave joined Grasim in November 2021 and played a significant role at the start-up stage of Birla Opus Paints and scaling up of the business. He established six integrated manufacturing facilities, scaled distribution, and supply chain networks nationwide, the company said. Grasim forayed into the paints business in February 2024, following which shares of industry leader Asian Paints Ltd. tanked on apprehensions about slow growth due to competition from the debutant.

 

The Birla group company offered multiple schemes and discounts to attract both dealers and customers, which helped it rapidly gain market share and give a tough competition to established players such as Asian Paints and Berger Paints. In July, Grasim had filed a complaint against Asian Paints, alleging anti-competitive practices. The Competition Commission of India had said in an order that Asian Paints appeared to have restrained its dealers from dealing with competitors by enforcing exclusivity upon them. Mid-October, the Supreme Court rejected a plea by Asian Paints against the competition commission's order.

 

For the quarter ended September, Grasim reported a near 12% on-year growth in its net profit to INR 8.05 billion and 26% rise in revenue to INR 96.10 billion. Both the bottom line and top line beat the Street's estimates. On Tuesday, the company's shares closed 0.6% lower at INR 2,882 on the National Stock Exchange. Indian financial markets are shut Wednesday for Guru Nanak Jayanti.  End

 

Reported by Anjana Therese Antony

Edited by Ashish Shirke

 

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