Copyright indiatimes
ReutersRepresentative image Mumbai: BirlaNu, the flagship company of the CKA Birla Group, is targeting a tenfold growth in its construction chemicals portfolio to ₹1,000 crore over the next four-five years, aided by the acquisition of Clean Coats, a coatings and specialised construction chemicals company. BirlaNu is acquiring 100% stake in Clean Coats for ₹120 crore through a combination of internal accruals and borrowings. The buyout is expected to be completed by the end of this month.The home and building solutions company, which was earlier known as HIL, also has a roofs, walls and floors segment."Obviously, this acquisition is a part of the thousand crores that we are aiming at, but we will also be growing our existing portfolio," said Avanti Birla, the president of the company. BirlaNu had a revenue of ₹155 crore, and made an operating loss of ₹13 crore in its pipes and construction chemicals segment in the September quarter.Mumbai-based Clean Coats, which manufactures specialty coatings, epoxy, polyurethane flooring and water proofing systems, reported revenue of ₹52 crore for 2024-25,.Live EventsBirlaNu had a total debt of ₹678 crore at the end of the June quarter."What this acquisition does for our vision on the construction chemical side is helps us leapfrog almost a five-to-seven year development journey," Akshat Seth, chief executive officer of the company, told ET. Another advantage would be that these products have higher margins, and will be accretive to the profitability of the company right from its inception, Seth said.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onbirlanuBirlaNuconstruction chemicalsClean CoatsacquisitionCKA Birla Grouprevenue growthspecialty coatingsprofitabilitymarket expansion (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onbirlanuBirlaNuconstruction chemicalsClean CoatsacquisitionCKA Birla Grouprevenue growthspecialty coatingsprofitabilitymarket expansion(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
