Birla Opus Paints CEO Rakshit Hargave Resigns

Birla Opus Paints, a Grasim Industries Ltd. arm, announced the resignation of chief executive officer Rakshit Hargave on Wednesday.

"(Hargave) has decided to pursue opportunities outside the Company and the Nomination & Remuneration Committee and subsequently the Board of Directors of the Company, at their respective meetings held today, have accepted his resignation and approved his request to exit the organisation from the close of business hours on Dec. 5, 2025," the exchange filing from the firm said.

Managing Director Himanshu Kapania will take over as CEO during the interim period while the board of directors finalises Hargave's successor.

Rakshit Hargave joined the company in November 2021 and was credited with having a significant role in the start-up stage of the Decorative Paints for Birla Opus and the initial scaling up of the business.

"He has helped build a high-performing team and in this four year phase, established six integrated manufacturing facilities, scaled distribution and supply chain networks nationwide," the filing said.

The board also approved the acquisition of 26% of equity stake in special purpose vehicles to be formed as a captive user for renewable energy projects.

• For Vilayat Plant, Gujarat: SPV formed with Prozeal Green Energy Limited (“Prozeal”), namely Pro-Zeal Green Power Eighteen Pvt.

• For Balabhadrapuram Plant, Andhra Pradesh: SPV to be formed with Prozeal Green Energy Ltd.

• For Ganjam Plant, Odisha: SPV to be formed with GMR Energy Ltd.

Grasim Industries Q2 Results (YoY)

• Net Profit up 11.7% At Rs 804 Cr Vs Rs 720 Cr

• Revenue up 26% At Rs 9,610 Cr Vs Rs 7,623 Cr

• Ebitda up 12.6% At Rs 366 Cr Vs Rs 325 Cr

• Margin At 3.8% Vs 4.3%

Shares of Grasim Industries Ltd. went down 0.74% to Rs 2,882 compared to a 0.64% downturn on the NSE Nifty 50.