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Despite its claims and market expectations, Grasim’s domination of the decorative paint industry may not be inevitable. The market would do well to not play into the conglomerate’s hands.

Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
Telecom and retail, which account for half the conglomerate’s revenue and most of its valuation, aren’t accelerating fast enough to justify their price tags.
The company’s Q2 results show a belated revival in fortunes, suggesting an aggressive growth path in an industry shaken up by Grasim. The latter is feeling the pressure for the first time ever since it launched its paints business in 2024.