Asian Paints Ltd
Asian Paints Ltd (ASIANPAINT)

Asian Paints Ltd (ASIANPAINT)


Key Stats

Day's Price Range
52-Week Price Range
1 Month Return2.18 %
3 Month Return24.45 %
1 Year Return3.47 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

Rank 15
Rank 9
Rank 11
Dividend Yield
Rank 8
Rank 4
Price To Book Ratio
Rank 16
Debt To Asset
Rank 9

Company Information

Asian Paints Ltd is Indias largest Asias third largest and Worlds 9th largest paint company. The company along with their subsidiaries has operations in 22 countries globally with 27 paint manufacturing facilities servicing consumers in 65 countries through Berger International SCIB Paints Apco Coatings and Taubmans. Asian Paints manufactures a wide range of paints for decorative and industrial use. The products of the company include ancilliaries automotive decorative paints and industrial paints. The company has manufacturing plants in Maharashtra Gujarat Andhra Pradesh Uttar Pradesh Tamil Nadu and Haryana.In Decorative paints the company is present in all the four segments namely Interior Wall Finishes Exterior Wall Finishes Enamels and Wood Finishes. They have also introduced many innovative concepts in the Indian paint industry like Colour Worlds Dealer Tinting Systems Home Solutions painting solutions Service Kids World painting solutions for kids room Colour Next Prediction of Colour Trends through indepth research and Royale Play Special Effect Paints just to name a few.Asian Paints Ltd was incorporated in the year 1945. In the year 1965 the name of the company was changed to Asian Paints India Pvt Ltd. In the year 1973 the company was converted into a public limited company. In the year 1972 they undertook a major modernization programme to streamline the paint production facilities by improving the layout of machines addition to balancing equipment and replacement of old machinery to meet the demand. In the year 1985 the Company had set up a third paint unit at Patancheru a notified backward area near Hyderabad for the manufacture of 15000 MT of paints and enamels. Also they entered into a collaboration agreement with Nippon Paints Company Ltd Japan to obtain technical knowhow to manufacture powder coating and coil coatings. In the year 1987 the company commissioned a plant for the manufacture of synthetic rubbers lattices with a capacity of 1200 tonnes per annum. Also the company in association with Tamil Nadu Industrial Development Corporation TIDCO promoted a joint sector company under the name of Pentasia Chemicals Ltd PCL for the purpose of manufacture 3000 TPA of pentaerythritol and 1800 TPA of sodium formate.In the year 1990 the company promoted two joint venture companies namely Asian Paints South Pacific Ltd in Fiji and Asian Paints Tonga Ltd. Apart from this the company formulated two more joint ventures under the names and styles of Asian Paints Nepal Pvt Ltd and Asian Paints S.I. Ltd. In May 1991 the company acquired 1910000 equity shares of Pentasia Chemicals Ltd from TIDCO and thus PCL became a subsidiary of the company.During the year 199293 the company installed and commissioned the manufacturing facilities for the powder coatings with a capacity of 300 MT at Kasna plant. In the year 1993 they set up a joint venture unit along with their overseas subsidiaries in Queens land Australia for manufacture of paints enamels and varnishes. In the year 1994 Pentasia Chemicals Ltd was amalgamated with the company with effect from October 1 1994. In the year 1995 the company set up a joint venture unit for the manufacture of paints enamels and varnishes in the Republic of Mauritius. In the year 1996 the company and PPG Industries Inc. of USA set up a joint venture company namely Asian PPG Industries Pvt Ltd to market and/or manufacture automotive paints and certain Industrial products. In the year 1998 they introduced three new products NC range of wood finishes ACE Exterior Emulsion and Asian wall putty. Also they launched a new marketing thrust with the introduction of a onestop Colour shop for paints complete with software for consumers to choose and select their different shade combinations. They launched their first exclusive showroom in Mumbai. In the year 1999 the company acquired 76 of equity stake in Sri Lankabased Delmege Forsyth Co Paints Ltd. In the year 2000 they launched two variants in polyurethane PU wood finish under the brand name Opal. They opened a manufacturing plant in Oman in partnership with a local company. Also they acquired the entire paints business of Pacific Paints Company based in Australia for over of Rs. 1 crore. In the year 2001 the company introduced Utsav Enamel for the festival season.In 2002 the company revamped their international operations and transferred shares in their subsidiaries in Fiji Tonga Solomon Island Vanuata Australia and the Sultanate of Oman to the Mauritius based subsidiary Asian Paints International. Also they acquired controlling stake of 50.1 in Berger International Singapore for the consideration of Rs. 58 crore. In the year 2003 the company through their Singaporebased subsidiary Berger International signed a technology and brand licensing agreement with PT Abadi Coatings Solusi an Indonesian paint company. Also they acquired Taubmans Paints Fiji Ltd through their subsidiary Asian Paints South Pacific Ltd in Fiji. During the year 200304 Pentasia Investments Ltd a wholly owned subsidiary of the company was amalgamated with the company. In the year 2004 the company launched paint solutions for kids. In January 2005 they set up a new paint plant at Sriperumbudur in Tamil Nadu and commenced commercial production. In the year 2006 the company commissioned a manufacturing facility for powder coatings at Baddi Himachal Pradesh. In September 2007 the company tailored their first exclusive industrial coatings manufacturing facility at Taloja in Maharashtra with an installed capacity of 14000 KL per annum. During the year 200708 the company commissioned the polymer plant in Sriperumbudur. Also they commenced expansion of the Sriperumbudur plant. Also Asian Paints International Ltd the companys direct subsidiary divested their entire stake in Asian Paints Queensland Pty Ltd Australia.During the year 200809 the company made a tie up with Dupont USA to cobrand the Royale range of Emulsions with Teflon the product synonymous with toughness and durability. The company commenced introducing a new chain of Colour ideas where retail outlets have been modified to offer slice of the Signature Store thereby providing the same inspiration to consumers in process of designing their homes. The first two stores have been inaugurated at Hyderabad and Chennai.During the year the company increased the capacity of the Sriperumbudur Plant to 100000 KL per annum. Also they commissioned the Distribution Centres at Kasna Plant and Ankleshwar Plant. Asian Paints International Ltd the companys direct subsidiary purchased the balance 49 stake in Asian Paints Tonga Ltd for a consideration of TOP 646800 approx. USD 314000 making it a wholly owned subsidiary.During the year 200910 the company increased the capacity of Sriperumbudur Plant in Tamil Nadu to 140000 KL per annum. They procured land for setting up a manufacturing facility for Decorative Paint in Kesurdi Maharashtra. As per the scheme of amalgamation Technical Instruments Manufacturers India Ltd TIM a 100 subsidiary of the company was amalgamated with the company with effect from April 1 2009. In April 12 2010 the company commissioned the first phase of sixth Decorative paint plat at Rohtak Haryana as a cost of approx. Rs 500 crore with an initial capacity of 150000 KL per annum. During the year 201011 the company augmented the synthetic resins and polymer capacity by 50000 MT. The company launched a number of new products. Water based wood finishes launched in North India would be launched across the country in a phased manner. New textured finishes for the exteriors Duracast Pebbletex and Crosstex were launched and met with good response from builders/ contractors for large projects.During the year the company approved the plans to enhance its 14 year relationship with PPG Industries Inc. PPG to accelerate growth of their nondecorative coatings businesses in India. As part of this arrangement the company and PPG will expand their existing nondecorative coatings presence in India by expanding their current 5050 joint venture relationship Asian PPG Industries Ltd APPG and also establish a second 5050 joint venture.The company decides to increase the installed capacity at the Rohtak Plant from 150000 KL per annum to 200000 KL per annum. The company commenced the construction at Khandala near Pune in Maharashtra for the seventh Decorative Paints plant with an initial capacity of 300000 KL per annum of paints with an investment of around Rs. 1000 crore. The plant will be commissioned sometime around the last quarter of FY 201213. The Khandala plant can be expanded to 400000 KL per annum later.Asian Paints with its intent to enter the Home Improvement and Decor space in India acquired 51 stake in Sleek International Private Limited Sleek a kitchen solutions provider in August 2013. Mumbaibased Sleek Group is a major organised player in the modern kitchen space and is engaged in the business of manufacturing selling and distributing kitchens kitchen components including wire baskets cabinets appliances accessories etc with pan India presence.In June 2014 Asian Paints acquired the entire front and sales business including Brands Network and Sales Infrastructure of Ess Ess Bathroom products Pvt Ltd. Ess Ess is a prominent player in the bath fittings business.On 3 April 2017 Berger International Private Limited BIPL Singapore an indirect subsidiary of Asian Paints completed the acquisition of 100 controlling stake in Causeway Paints Lanka Private Limited Sri Lanka CPLPL a key player in the Sri Lanka coatings market.On 5 September 2017 PT Asian Paints Indonesia Indonesia PT API a wholly owned subsidiary of Berger International Private Limited Singapore an indirect subsidiary of the Asian Paints commenced manufacturing operations with a capacity of 5000 tons per annum on a single shift basis in Jawa Barat region in Indonesia.On 11 December 2017 Asian Paints acquired the entire remaining 49 stake in kitchen solution provider company Sleek International Private Limited from the Ahuja family thereby making it a whollyowned subsidiary of the company.During the year 2018 under review in order to consolidate the Companys investments in overseas subsidiary companies Asian Paints International Limited Mauritius wholly owned subsidiary was amalgamated with the Company pursuant to an Order dated 29th November 2017 passed by the Mumbai Bench of the Honble National Company Law Tribunal pursuant to Sections 230 to 232 and 234 other applicable provisions of the Companies Act 2013 and any other applicable Regulations. The appointed date for the Scheme of amalgamation was 1st January 2017.The merger was effective 15th January 2018 after obtaining necessary approvals including approval from the Registrar of Companies Mauritius.The company acquired the balance 49 of the paid up share capital of Sleek International Private Limited Sleek from the Ahuja family for a consideration of Rs 50 Crore. Sleek became a wholly owned subsidiary of the Company.The Company also acquired 100 stake in Reno Chemicals Pharmaceuticals Cosmetics Private Limited Reno for an amount of Rs 159.52 crore with an objective of using the land and building of Reno to meet the Companys growing infrastructure requirements.The Company also fully exited from its operations in the Caribbean region carried on through Lewis Berger Overseas Holdings Limited LBOH United Kingdom indirect subsidiary of the Company for a consideration of Rs 189.16 crore approx. The divestment was with an objective to focus on its international presence in growing geographies across the continents of Asia and Africa.During the year 2018 the Company resolved to expand the existing paint manufacturing capacity at its unit situated at Ankleshwar Gujarat from 130000 KL to 300000 KL per annum and to augment the manufacturing capacity of synthetic resins and emulsions from existing 32000 MT to 85000 MT approx. over a span of the next 3 4 years. The said expansion and augmentation would involve phasing out the current Phthalic Anhydride and its allied products manufactured at this facility. The Company is awaiting necessary approvals from statutory authorities and will thereafter work on this project in a phased manner.During the Year 2019 under review the Board of Directors at their meeting held on 9th May 2019 have inter alia approved the following investments approximately in accordance with the applicable provisions of law: i Rs 300 crore by way of subscription of equity shares of Asian Paints International Private Limited APIPL Singapore wholly owned subsidiary of the Company for the purpose of meeting funding requirements of its step down operating subsidiaries and ii Rs 80 crore by way of subscription of equity shares of Sleek International Private Limited Sleek wholly owned subsidiary of the Company to meet its requirements towards capital expenditure and working capital.During 2019 the Company commenced commercial production of water based paints and intermediaries at Mysuru Plant situated in the state of Karnataka with an initial capacity of 3 three lakh KL p.a. having ultimate capacity of 6six lakh KL p.a. and at Vishakhapatnam Plant situated in the state of Andhra Pradesh with an initial capacity of 3 three lakh KL p.a. having ultimate capacity of 5five lakh KL p.a. During the year 2020 under review The Board of Directors of the Company at their meeing held on 22nd January 2020 approved the Scheme of Amalgamation of Reno Chemicals Pharmaceuticals Cosmetics Private Limited Reno wholly owned subsidiary of the Company with the Company subject to necessary statutory and regulatory approvals including approval of the National Company Law Tribunal Mumbai. The proposed Amalgamation is inter alia to maintain a simple corporate structure eliminate duplicate corporate procedures and reduce multiplicity of legal and regulatory compliances between both the companies. There is no consideration involved as the entire share capital of Reno is held by the Company along with its nominees. The appointed date for the Scheme of Amalgamation is 1st April 2019 or such other date as may be approved by the National Company Law Tribunal NCLT and the Scheme shall be effective from the last date of receipt of all approvals permissions as may be required or filing of necessary certified copies of Orders under the applicable sections of the Act with the Registrar of Companies Maharashtra at Mumbai. The NCLT vide its Orders dated 22nd April 2020 and 27th April 2020 inter alia admitted the Scheme of Amalgamation.Asian Paints International Private Limited Singapore APIPL wholly owned subsidiary of the Company divested its entire stake in Berger Paints Singapore Pte Limited Singapore BPS wholly owned subsidiary of APIPL to Omega Property Investments Pty Ltd Australia for a consideration of approx Rs 20.81 crore on 17th September 2019. BPS had a limited presence in the Singapore coatings market and was not material in overall Companys international operations.The company also continued to focus on building capacity across units to support our growth ambitions. The expansion project of the existing plant in Indonesia progressed on schedule. Work also commenced on the companies second plant in Bangladesh. Capacity expansion was completed in Sri Lanka Nepal and the UAE. The Company has also completed a blueprint for future expansion in Nepal.The Company has 23 subsidiaries and 2 jointventure companies as on 31 March 2021.The Company Petition filed for amalgamation of Reno Chemicals Pharmaceuticals Cosmetics Private Limited Companys wholly owned subsidiary with the Company was admitted on 26 April 2021 by Honble National Company Law Tribunal Mumbai NCLT.With effect from 01 April 2021 indirect subsidiary of the Company Asian Paints Lanka Limited amalgamated with Causeway Paints Lanka Private Limited.Asian Paints Tonga Limited has ceased its business operations w.e.f. 10 December 2020 and liquidated all its assets liabilities. The name of the Company was struck off from the Business Registries Office Kingdom of Tonga on 29 January 2021.On 02 September 2021 the National Company Law Tribunal Mumbai approved the scheme of amalgamation of Reno Chemicals Pharmaceuticals and Cosmetics Private Limited wholly owned subsidiary of the Company with the Company. Pursuant to the necessary filings with the Registrars of Companies Mumbai the scheme has become effective from 17 September 2021 with the appointed date of 01 April 2019.During the quarter ended 30 September 2021 the Company made additional equity investment of Rs 79.99 crore in Sleek International Private Limited a wholly owned subsidiary of the Company.
OrganisationAsian Paints Ltd