Mumbai: Driven by economic recovery, healthy demand growth and increasing consumer preference for environment-friendly products, JSW Paints crossed Rs 100 crore monthly sales in October 2021 (JSW Paints 100 On 100 Milestone).
This is an important business milestone and JSW Paints has become the fastest Indian paints company to achieve this feat. 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.
In the first half of FY22, the Company has grown approximately 120 percent on a year-on-year basis. During this period, its decorative business has trebled in size.
JSW Paints 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.
As a national player, JSW Paints is taking forward the spirit of the Start-up India program by the Government of India by rolling-out its Employee Stock Options Plan called JSW Paints Kshitij ESOP 2021 for allits employees. This is the first time an Indian Paints company is implementing an ESOP plan where every employee will receive equity shares of the Company.
The Kshitij ESOP 2021 Planrecognizes the efforts made by each employee and empowers them to create further value for themselves and for JSW Paints by shaping the future growth of the business.
Commenting on its business growth & ESOP roll-out, Parth Jindal, Managing Director of JSW Paints said, “Our business recorded healthy revenue and margin growth during the first half of this fiscal year. It’s a moment of great pride that JSW Group’s first true consumer-facing business has been accepted so well across the country. Our product launches across the country have been tremendously well received and the future of JSW Paints looks very bright. 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 theentire team’s commitment to go beyond the call of duty. Together, we are building JSW Paints as the paints company of the future. The stock options granted under JSW Paints Kshitij ESOP 2021will empower each member of the team to equitably participate in the next phase of our growth journey. We are granting these stock options to all our employees across rank & file. This is just the beginning for JSW Paints and we are committed to creating a company that will be the envy of the industry.”
According to AS Sundaresan, Joint MD & CEO of JSW Paints, “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 2021appreciates their efforts and encourages them to continue making a thoughtful difference everyday.”
JSW Group has been rolling out stock options across its businesses to share the fruits of business success with every employee. It introduced a comprehensive ESOP Plan to reward employees with wealth creation opportunities, encourage high-growth performance and reinforce employee pride to be part of the JSW family.
The Group has already rolled out stock options to all its employees in Steel & Energy businesses. It is now rolling out the stock options in the Paints business as well.Through this wealth-creation opportunity, JSW Paints aims to foster a long-lasting association with its employees who will recognise themselves as a crucial cog in the company’s wheel since they will be invested in it.