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Shareholding Info
  • Promoters
    52.63 %
  • Foreign institutions-FII
    17.48 %
  • Other domestic institutions
    6.49 %
  • Retail and other
    19.85 %
  • Mutual Funds
    3.55 %

About Asian Paints

Established in 1942 by 4 friends, Asian Paints reached an industry-leading position in its first 25 years, and since 1967, reports claim it to be the market leader in the paints sector. In fact, estimates place it as twice the size of its immediate competitors. With a market cap of over ₹ 3.23 Lakh Crores and revenue for FY 2022 standing at ₹ 25,002.1 Cr, Asian Paints is a highly reputed and valued Indian blue-chip company. The Asian Paints group has set up several subsidiaries that operate around multiple geographies globally. These are Asian Paints Berger, Apco Coatings, SCIB Paints, Taubmans, Asian Paints Causeway and Kadisco Asian Paints.
  • In the 80 years of the company’s existence, Asian Paints has achieved milestones. Some keys facts and figures include:
  • No. 1 paint company in India, consistently
  • No. 3 paint company in Asia
  • No. 9 paint company in the world
  • 15 countries operated in
  • 60 countries served
  • 26 manufacturing plants, globally
  • 1.45 Lakh retail touchpoints in India
  • Over 12,000 employees

Core Activities & Products

From a product portfolio and services perspective, the core operations of Asian Paints is the manufacturing of paints for residential, commercial and industrial use. It also provides adhesives, wall coverings, lightings, furnishings, furniture, and bath and kitchen products, as well as home improvement and planned decor as services. It also operates in the health and hygiene sector by offering sanitisers and surface disinfectants. In recent news, Asian Paints agreed to acquire a 51% stake in Weatherseal Fenestration to provide professional large-scale interior decoration services, furnishing, and manufacturing of hybrid door security systems and uPVC windows. Another agreement with Obgenix Software (White Teak) for a 49% stake will see Asian Paints expand its product portfolio to include decorative lighting fixtures and fans.

Board of Directors

Asian Paints is helmed by a vast and diversely experienced board of directors whose responsibilities include governing various committees for audit, remuneration, stakeholder and shareholder relationship management, risk management, investments and corporate social responsibility.
  • Mr. Deepak Satwalekar: Non-Executive Chairman / Independent Director
  • Mr. Manish Choksi: Non-Executive Vice Chairman
  • Mr. Amit Syngle: Managing Director & CEO
  • Mr. Ashwin Dani: Non-Executive Director
  • Mr. Malav Dani: Non-Executive Director
  • Ms. Amrita Vakil: Non-Executive Director
  • Mr. Jigish Choksi: Non-Executive Director
  • Ms. Nehal Vakil: Non-Executive Director
  • Ms. Vibha Paul Rishi: Independent Director
  • Mr. R Seshasayee: Independent Director
  • Mr. Suresh Narayanan: Independent Director
  • Ms. Pallavi Shroff: Independent Director
  • Mr. Milind Sarwate: Independent Director


Asian Paints operates in 15 countries through 7 brands. across 4 regions, including the Middle East, Africa, Asia, and South Pacific. It has 11 paint manufacturing plants in India for decorative coatings, industrial coatings, and chemicals; and a total of 26 in the world that allowing them to serve consumers in over 60 countries.
The operating brands in each country are:
  1. Asian Paints (India, Bangladesh, Nepal and Indonesia)
  2. Asian Paints Causeway (Sri Lanka)
    Middle East:
  1. Asian Paints Berger (the UAE, Bahrain, Oman and Qatar)
  1. SCIB Paints (Egypt)
  2. Kadisco Asian Paints (Ethiopia)
    South Pacific:
  1. Apco Coatings (Fiji, Solomon Islands and Vanuatu)
  2. Taubmans (Fiji and Samoa)

Registered Office

Asian Paints6A, Shantinagar,Santacruz (East), Mumbai – 400 055
Phone No.: (022) 6218 1000


Asian Paints has been a market leader year-on-year for decades. Let us examine the key strengths of the group that give it a competitive advantage in the market.
  1. Undisputed leadership position in India with over 50% market share in the paints industry
  2. A recognised regional (3rd in Asia) and global (9th in the world) giant
  3. Wide domestic network with over 1.45 Lakh retail touchpoints
  4. Global presence with brands operating in 16 countries and serving customers in 60 countries
  5. Massive installed decorative paint production capacity of 1,730,000 Kilo Litres/annum
  6. 26 global production facilities
  7. Strong financials with ₹ 25,002.1 Cr in revenue and ₹ 3,134.7 Cr profit after tax
  8. Low debts and liabilities
  9. High brand recall and media presence
  10. Experienced global workforce of 12,000+ employees and 200+ scientists

CSR and Sustainability

Being a stalwart of the Indian economy, Asian Paints has regularly been at the forefront of leading corporate social responsibility initiatives across the nation and spent a reported ₹ 70.8 Cr as CSR expenditure. The group has a 4-layered structure approach towards tackling social concerns in the areas of:
  1. Education: An estimated 28,500 beneficiaries across 144 schools and educational centres through Asian Paints initiatives such as Gyan Shakti programme for primary school children, Naya Savera for school dropouts and those who were unable to get access to educational resources, Project Udaan to make dropouts become job-ready by teaching them basic IT and other life skills, TABLABS to introduce technology and innovation to early school goers.
  2. Health and Hygiene: Over 1.6 Lakh lives are touched through the means of various programmes such as Static Clinics built around manufacturing plants to cater to not just the employees and their families but also the medical needs of rural areas around them. 6 Mobile Medical Units to provide discounted medical attention to those remote areas where people are unable to access medical resources easily. Safar is a pan-India programme from the Asian paints group aimed at improving health awareness and helping people better their physical and mental lifestyles. Project Drishyam is another vital initiative that is dedicated to catering to the eye and eyesight-related diseases across 8 villages. Apart from this, Asian Paints employees have volunteered to bring relief to the impacted people through natural disasters such as Cyclone Fani and the floods in Karnataka, Bihar and Assam.
  3. Water: Approximately 64,530 people have benefited from pond restoration, phytoremediation, and dam restoration sponsored by Asian Paints and carried out with the active participation of its employees across Gujarat, Maharashtra and Karnataka.
  4. Enhancing Vocational Skills: Close to 1.5 Lakh participants have attended the various vocational skills enhancement programmes and other employability improvement training programmes conducted by Asian Paints in association with various NGOs under the umbrella of the Colour Academy, over 50 of which are operational across India.

COVID-19 Impact

The last financial year (21-22) started with the widespread second wave of Covid-19. This caused a big dent in the decorative business in India and hampered the recovery being attempted by the group. Apprehensions were rising regarding the year, seeing a drop in urban and rural demand as low as the 1st year of Covid. However, the end of the second wave saw a rise in optimism in consumers and a rise in market demands. This was evident in the annual officials which showed a volume growth of 31% and a value growth of 36% for the year.

Future Prospects

Not satisfied with its market domination in the paints sector in India and strong presence in several other markets, Asian Paints is diversifying into several other product and service areas. Some of the actions being taken for enhanced future prospects include:
  1. Promoting its Safe Painting Service and Beautiful Homes Service for direct consumers. The presence has already enhanced to 11 cities with plans to add up to another dozen cities in the coming 2 years.
  2. Hygiene and Health have also become a profitable business for the group with the company manufacturing sanitisers and surface disinfectants.
  3. Apart from just painting, Asian Paints is aggressively marketing its home decor, renovation and makeover services and sees it as a lucrative potential market to tap into.
  4. Its recent acquisitions will help its foray into spaces such as furnishings, lightings, door security systems, etc.
  5. With lessons learnt from the slowdown and social restrictions that were imposed in the recent 2 years, Asian Paints is also focussing on establishing a leaner yet more efficient supply chain. Since the logistics function directly feeds into their India and overseas business, its smooth operations are vital for future business revenues.
  6. Finally, the company has seen encouraging signs to flex its muscle in the international markets. The annual report for the recently conclude FY also hinted at enhanced operations in existing countries with expansion plans to include newer geographies to supplement the revenue from the Indian market.

Did You Know!

  1. The company was incorporated as Asian Oil and Paint Company Pvt. Ltd., but the name was changed to Asian Paints (India) Pvt. Ltd. in 1965.
  2. Asian Paints employs over 200 scientists to help the company keep innovating in the areas of paints, chemicals, adhesives, and lacquers.
  3. In 2021 alone, the company received 17 patent grants while launching 29 new products.
  4. It is a highly environmentally conscious company with a 61.1% share of renewable energy in its annual energy consumption across offices and manufacturing facilities.
  5. Its in-house water replenishment level stood at an outstanding 282%.
  6. It also reported 3,647 tonnes of recycled plastic packaging content for the year 2021-2022.

Initial Public Offering

Asian Paints was established in 1942, incorporated in 1945, and converted into a public limited company in 1973. It launched a public issue in 1982 and has 6 rounds of bonus issues and a stock split in 2013. Since its IPO in 1982, the 40-year CAGR has been close to 30%.

Equity Shares

Asian Paints has, historically, been a much-in-demand stock with fairly high volumes and ample liquidity. Even during the global slowdown in the post-pandemic era, it has maintained healthy levels of 58.6% dividend payout ratio (FY 2021-2022), an earnings per share (EPS) of ₹ 32.7 and a return on capital employed (ROCE) of 33.5%. The 1-year range of the stock has been ₹2,560.00 - ₹3,590.00, with a P/E ratio of 91.71.
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