COMPANY PROFILE
Asian Paints is India's largest paint company in India and Asia's third largest paint company with a turnover of Rs54.63 billion. The company operates in 20 countries and has 28 paint manufacturing facilities in the world servicing consumers in over 65 countries. Besides Asian Paints, the group operates around the world through its subsidiaries Berger International Limited, Apco Coatings, SCIB Paints and Taubmans. Forbes Global magazine USA ranked Asian Paints among the 200 Best Small Companies in the World for 2002 and 2003 and presented the 'Best under a Billion' award, to the company. The present MD & CEO of the company is P.M. Murty.
HISTORY
The company has come a long way since its small beginnings in 1942. Four friends who were willing to take on the world's biggest, most famous paint companies operating in India at that time set it up as a partnership firm. Chimanlal Choksi,Champaklal Choksey,Suryakant Dani and Arvind Vakil were the four friends who started the company. Suryakant Dani owned a garage where he did the painting work for Machines & vehicles.The same garage is where Asian Paints started off its operations. Over the course of 25 years Asian Paints became a corporate force and India's leading paints company. Driven by its strong consumer-focus and innovative spirit, the company has been the market leader in paints since 1968. Today it is double the size of any other paint company in India. Asian Paints manufactures a wide range of paints for Decorative and Industrial use.
OPERATIONS
The company at present has vertically integrated in diversed products such as Phthalic Anhydride and Pentaerythritol, which are used in the paint manufacturing process.Asian Paints along with PPG Inc, USA, one of the largest automotive coatings manufacturer in the world has begun a 50:50 joint venture, Asian PPG Industries to service the increasing requirements of the Indian automotive coatings market. Another wholly owned subsidiary, Asian Paints Industrial Coatings Limited has been set up to cater to the powder coatings market which is one of the fastest growing segments in the industrial coatings market.
Asian Paints operates in 22 countries across the world. It has manufacturing facilities in each of these countries and is the largest paint company in ten overseas markets. Asian Paints operates in five regions across the world viz.South Asia, Southeast Asia, South Pacific, Middle East and Caribbean region through the five corporate brands viz. Asian Paints, Berger International, SCIB Paints, Apco Coatings and Taubmans. In ten markets, it operates through its subsidiary, Berger International Limited; in Egypt through SCIB Paints; in five markets in the South Pacific it operates through Apco Coatings and in Fiji and Samoa it also operates through Taubmans.
In October 2008 the company acquired Sri Lanka's second largest paint company, spending nearly about Rs 360 million ($8 million) for this deal. With the acquisition of Delmege Forsyth& Co, ended two years of inertia caused by a split within Asian Paints’ four founding families. With that chapter closed, India’s biggest paints maker can now focus on challenging Sherwin-Williams Co, whose ‘Dutch Boy’ brand is the world market leader.
AWARDS AND RECOGNITION
- Awarded the "Sword of Honour" by the British Safety Council for all the paint plants in India. This award is considered as the pinnacle of achievement in safety across the world.
- Forbes Global magazine, USA ranked Asian Paints amongst the 200 'Best Small Companies of the world' in 2002 and 2003 and amongst the top 200 'Under a Billion Firms' of Asia in 2005.
- Ranked 24th amongst the top paint companies in the world by Coatings World - Top Companies Report 2006.
- The Asset - one of Asia's leading financial magazine ranked Asian Paints amongst the leading Indian companies in Corporate Governance in 2002 and 2005.
- Received the Ernst & Young "Entrepreneur of the Year - Manufacturing" award in 2003.
FINANCIAL RESULTS
Consolidated Results: Q1-FY’10:
For the quarter ended June 30, 2009 , on consolidation of accounts of the subsidiaries and joint venture of Asian Paints – Net Profit of the Group has increased by 65.8 % to Rs. 176 crores from Rs. 106 crores over the previous corresponding quarter. Sales & Operating Income has risen by 17.5 % to Rs. 1460.2 crores from Rs. 1242.6 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 59.6% to Rs. 275.8 crore from Rs. 172.8 crores. Profit before Tax has increased by 64.3 % to Rs. 264.4 crores from Rs. 161 crores.
Standalone Results: Q1-FY’10:
For the quarter ended
The above mentioned informations are subject to change please visit the official website of the company to keep your self updated: www.asianpaints.com
Sources:
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