Grasim Industries has appointed Sachin Sahay as the chief executive officer of its paints business, Birla Opus, following the resignation of Rakshit Hargave, the company disclosed in a regulatory filing on Thursday.
Sahay will take charge as CEO of Birla Opus and as a senior management personnel of Grasim Industries with effect from February 16, 2026.
Earlier, Sahay served as executive vice president–sales at FMCG and cigarette major, ITC. He brings over three decades of experience across sales and marketing roles, and has played a key role in building and scaling ITC’s FMCG distribution network across urban and rural markets.
Hargave moves to Britannia
The appointment follows the departure of Rakshit Hargave, who stepped down as CEO of Birla Opus earlier this month. Hargave has moved to Britannia Industries, where he will take over as chief executive officer.
Hargave tendered his resignation to the Grasim board on November 1, 2025, with immediate effect, stating that he was leaving “to pursue career opportunities outside the company”. He had been associated with the Aditya Birla Group for around four years and was appointed CEO of Birla Opus in March this year.
Birla Opus itself is an 18-month-old business, marking Grasim’s entry into India’s competitive decorative paints market.
Aggressive build-out, capex-heavy strategy
Since launch, Birla Opus has pursued rapid scale-up backed by heavy capital expenditure, as per an earlier report by financialexpress.com. Grasim Industries had announced a Rs 10,000-crore capex plan for the paints business, of which nearly the entire amount has been invested over the last 1.5 years.
Investor presentations show that the company spent Rs 375 crore in the first two quarters of FY26 and around Rs 9,727 crore cumulatively since inception. The business has set up five manufacturing plants, with a sixth expected to be commissioned soon.
Leveraging UltraTech Cement’s existing dealer network, Birla Opus expanded rapidly across major markets. As per the company, its distribution now covers over 10,000 towns, with a dealer network of about 50,000 outlets and 45,000 tinting machines installed nationwide.
Growth moderates after early disruption
While Birla Opus disrupted the paints market soon after launch, recent quarters have seen growth normalise. According to a Nomura report, although competitive intensity in the sector remains high, Birla Opus’s sales and dealer expansion are no longer accelerating at the pace seen in its first year.
The company reported revenue of Rs 1,107 crore in the first quarter of FY26, posting a 20.5% quarter-on-quarter growth. However, Nomura flagged concerns around sales momentum and market share expansion, even as sector-wide margin pressures persist, an earlier report by financialexpress.com said.
Birla Opus entered the market in February 2024 and gained a 5.7% market share by the end of that year. By the end of Q4 FY25, its share stood at 6%, rising to 6.6% in Q1 FY26
Premium focus, margin pressure
The company is currently stronger in the premium segment, which accounts for about 65% of its sales. In contrast, Birla Opus continues to face challenges in the economy segment, where competition is intense, and discounting is widespread.
Management has indicated that while it is present across price points, the company’s strategic focus is likely to remain on luxury and premium paints. Utilisation levels at its manufacturing facilities are still ramping up, with current capacity at about 1,096 million litres, projected to rise to 1,332 million litres once the sixth plant comes on stream.
Birla Opus has set an ambitious target of achieving Rs 10,000 crore in sales over the next three fiscal years, including FY26. Nomura said that given the scale of its dealer network, the plan appears achievable, though margins and market share traction will remain key variables to watch.