imported>Joppa Chong at 17:13, 2 September 2021

2021-09-02T17:13:29Z

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{{Short description|Indian multinational paint company}}
{{Use Indian English|date=December 2016}}
{{Use dmy dates|date=October 2020}}
{{Infobox company
| name = Asian Paints Ltd.
| logo = Asian paints logo.svg
| logo_size = 250px
| type = [[Public company|Public]]
| traded_as = {{plainlist|
*{{BSE|500820}}
*{{NSE|ASIANPAINT}}
*[[BSE SENSEX|BSE SENSEX Constituent]]
*[[NIFTY 50|NSE NIFTY 50 Constituent]]}}
| founders = {{plainlist| *Champaklal Choksey
*Chimanlal Choksi
*Suryakant Dani
*Arvind Vakil}}
| foundation = {{start date and age|df=yes|1942|02|01}}
| location_city = [[Mumbai]], [[Maharashtra]]
| location_country = India
| area_served = Worldwide
| key_people = {{plainlist|
*[[Ashwin Dani]] ([[Chairman]])
*Manish Choksi ([[Vice Chairman]])
*Amit Syngle ([[CEO]])
*[[Abhay Vakil]] (Non Executive Director)}}
| ISIN = INE021A01026
| industry = [[Chemical industry|Chemicals]]
| products = {{plainlist|
*[[Chemical substance|Chemicals]]
*[[Paints|Decorative paints]]
*[[automotive restoration|Industrial finishing products]]
*[[Industrial coating|Coatings]]}}
| revenue = {{increase}} {{INRConvert|20515|c}} (2020)<ref name="AR2015">{{cite web |url=https://www.asianpaints.com/content/dam/asianpaints/website/secondary-navigation/investors/annual-reports/Asian%20Paints%20Annual%20Report_Web.pdf|title=Asian Paints Limited Financial Statements |access-date=23 February 2020 |publisher= Asian Paints }}</ref>
| operating_income = {{increase}} {{INRConvert|3685|c}} (2020)<ref name="AR2015" />
| net_income = {{increase}} {{INRConvert|2728|c}} (2020)<ref name="AR2015" />
| assets = {{increase}} {{INRConvert|16154|c}} (2020)<ref name="AR2015" />
| equity = {{increase}} {{INRConvert|10034|c}} (2020)<ref name="AR2015" />
| owner =
| num_employees = 7,600+ (2020)<ref name="AR2015" />
| parent =
| divisions =
| subsid =
| homepage = {{URL|https://www.asianpaints.com/|asianpaints.com}}
}}

'''Asian Paints Ltd''' is an Indian [[Multinational corporation|multinational]] [[paint]] company, headquartered in [[Mumbai]].<ref name="Business Insider">{{cite web |url=http://www.businessinsider.in/Independence-Day-Special-Started-by-four-Mumbaikers-how-Asian-Paints-is-today-one-of-Indias-most-valued-companies/articleshow/53634906.cms |title=Started by four Mumbaikers, how Asian Paints is today one of India's most valued companies |newspaper=Businessinsider.in |access-date= 18 November 2016}}</ref> The company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. Asian Paints is India's largest and Asia's third largest paints corporation.<ref name="IBTimes">{{cite web |url=http://www.ibtimes.co.in/asian-paints-hindustan-unilever-top-innovative-indian-firms-forbes-list-691157 |title=Asian Paints, Hindustan Unilever top innovative Indian firms on Forbes' list |newspaper=Ibtimes.co.in |access-date= 18 November 2016}}</ref><ref name="Ecot">{{cite web |url=http://economictimes.indiatimes.com/markets/stocks/news/shares-of-asian-paints-jump-7-on-good-q1-results/articleshow/53427210.cms |title=Shares of Asian Paints jump 7% on good Q1 results |newspaper=The Economic Times |access-date= 18 November 2016}}</ref><ref name="Hindu">{{cite web |url=http://www.thehindu.com/news/cities/Visakhapatnam/local-people-demand-jobs-in-asian-paints-proposed-plant/article8791029.ece |title=Local people demand jobs in Asian Paints' proposed plant |newspaper=The Hindu |access-date= 18 November 2016}}</ref> Asian Paints is the holding company of [[Berger Paints|Berger International]].<ref name="Ecot2">{{cite web |url=http://economictimes.indiatimes.com/markets/stocks/news/asian-paints-acquires-96-48-stake-in-berger-open-offer-ends/articleshow/25600460.cms |title=Asian Paints acquires 96.48% stake in Berger; open offer ends |newspaper=The Economic Times |access-date= 18 November 2016}}</ref> The company generated a revenue of ₹17,194.1 [[Crore|crores]] in the financial year 2019-20 and a profit of ₹2,654 crores. The company's manufacturing operations encompass 15 countries of the world including India, with considerable presence in the [[Indian subcontinent]] and the Middle East.<ref>{{Cite web|title=Annual report 2019-20|url=https://www.asianpaints.com/content/dam/asianpaints/website/secondary-navigation/investors/annual-reports/Asian%20Paints%20Annual%20Report_Web.pdf|url-status=live}}</ref>

== History ==
The company was started in a garage in Gaiwadi, [[Girgaum]], [[Mumbai]] by four friends Champaklal Choksey, Chimanlal Choksi, Suryakant Dani and Arvind Vakil. They all belong to [[Jain]] families, and founded the company in February 1945. During [[World War II]] and the [[Quit India Movement]] of 1942, a temporary ban on paint imports left only foreign companies and [[Shalimar Paints]] in the market. Asian Paints took up the market and reported an annual turnover of {{INR}}23 [[crore]] in 1952 but with only 2% [[Profit Before Tax|PBT]] margin. By 1967, it became the leading paints manufacturer in the country.<ref name="Unusual">{{cite book|url=https://books.google.com/books?id=UL3BDAAAQBAJ |title= The Unusual Billionaires |first= Saurabh |last= Mukherjea |publisher=Penguin UK |year=2016 |isbn=9789386057679}}{{page needed|date=May 2020}}</ref><ref name="Club"/>

The four families together held the majority shares of the company. But disputes started over the global rights in 1990s when the company expanded beyond India. The disputes resulted in Choksey selling their 13.7% shares and exiting in 1997. Champaklal died in July 1997 and his son Atul took over. After failed collaboration talks with the British company [[Imperial Chemical Industries]], Choksey's shares were mutually bought by the remaining three families and [[Unit Trust of India]]. {{As of|2008}}, the Choksi, Dani and Vakil families hold a share of 47.81%.<ref name="Club">{{cite book|url= https://books.google.com/books?id=YiLBD_IpgIkC |title= India's Global Wealth Club: The Stunning Rise of Its Billionaires and Their Secrets of Success |publisher= John Wiley & Sons |pages=211 |first=Geoff |last=Hiscock |year= 2008 |isbn= 9780470822388 }}</ref>

== Manufacturing locations<ref>{{Cite web|title=https://www.asianpaints.com/content/ap/en/home/about-us.html|url=https://www.asianpaints.com/content/ap/en/home/about-us.html|access-date=2021-06-07|website=www.asianpaints.com|language=en}}</ref> ==
The company along with its subsidiaries have 26 manufacturing facilities across 15 countries serving customer globally in over 60 countries.
{| class="wikitable"
|+
!S.No.
!Countries
!Number of Manufacturing plants
!Location/operating Brand
|-
|1
|India
|10
|[[Ankleshwar]] & [[Sarigam]] ([[Gujarat]]), [[Patancheru]] ([[Telangana]]), [[Kasna]] ([[Uttar Pradesh]]), [[Sriperumbudur]] ([[Tamil Nadu]]), [[Rohtak]] ([[Haryana]]), [[Khandala, Satara|Khandala]] & Taloja ([[Maharashtra]]), [[Mysore|Mysuru]] ([[Karnataka]]), [[Visakhapatnam|Visakhapatam]] ([[Andhra Pradesh]])
|-
|2
|[[Sri Lanka]]
|2
|Asian Paints Causeway(2)
|-
|3
|[[Nepal]]
|2
|Asian Paints
|-
|4
|[[Bangladesh]]
|1
|Asian Paints
|-
|5
|[[Indonesia]]
|1
|Asian Paints
|-
|6
|[[Fiji]]
|1
|Apco Coatings & Taubmans
|-
|7
|[[Samoan Islands|Samoa Islands]]
|1
|Taubmans
|-
|8
|[[Vanuatu]]
|
|Apco Coatings
|-
|9
|[[Solomon Islands]]
|
|Apco Coatings
|-
|10
|[[Oman]]
|1
|Asian Paints Berger
|-
|11
|[[Bahrain]]
|1
|Asian Paints Berger
|-
|12
|[[Dubai]]
|1
|Asian Paints Berger
|-
|13
|[[Egypt]]
|2
|SCIB Paints
|-
|14
|[[Ethiopia]]
|3
|Kadisco Asian Paints
|-
| colspan="2" |Total
|26
|
|}

== Ownership structure ==
The company has 12 institutional owners and shareholders that are investing through [[Securities Exchange Commission]] (SEC). Largest stakeholders include Bridge Builder International Equity Fund, and Touchstone Sands Capital Emerging Markets Growth Fund.<ref>{{cite news|last1=Stuff|first1=Publication|title=ASIANPAINT Institutional Ownership - ASIAN PAINTS LTD. Stock|language=en|work=fintel.io|url=https://fintel.io/so/in/asianpaint|access-date=2 May 2020}}</ref>

== Leadership Team ==
K.B.S. Anand is currently the managing director and CEO of Asian paints while Amit Syngle is the Chief Operating Officer. Jayesh Merchant is the CFO & Company Secretary.<ref>{{Cite web|title=Company's website|url=https://www.asianpaints.com/content/dam/annual-report/pdf/leadershipteam.pdf|url-status=live}}</ref>

== Marketing and advertising ==
In 1950s, the company launched a "washable [[Distemper (paint)|distemper]]", which was a balance between the cheap dry distemper that peeled easily and the more expensive plastic emulsions. Promoting their brand Tractor Distemper, the company used "Don't lose your temper, use Tractor Distemper" in their advertisings.<ref name="Unusual"/> In 1954, "Gattu" – a mischievous boy with a paint bucket in his hand – was launched as mascot. Created by [[R. K. Laxman]], the mascot found appeal with the middle-classes.<ref name="Gattu"/>

He was used only in print advertisements and packaging till 1970s and by 1990s, was also seen on television advertisements. Gattu helped in bringing the commodity-led business of painters to the actual end users of home-owners.<ref name="Gattu">{{Cite web |url=http://www.business-standard.com/article/management/40-years-ago-and-now-gattu-s-antics-coloured-asian-paints-future-115021201710_1.html |title=40 years ago...And now: Gattu's antics coloured Asian Paints' future |last=Pinto |first=Viveat |date=12 February 2015 |work=Business Standard |access-date=19 November 2016}}</ref> [[Ogilvy & Mather]], the advertising agency associated with Asian Paints, launched marketing strategy by focusing on festive occasions in 1980s with their tag line "Har Ghar Kucch Kehta Hai" (Every home says something). Relating with [[List of festivals in India|festivals]] and important life events like marriages and child birth, the company advertised it as an occasion to paint homes by connecting on emotional level. In 1990s, the advertisements focused on the home exteriors, focusing on how the paints could keep the exteriors timeless.<ref name="Gattu" /> The company revamped its corporate identity in 2000s and axed Gattu as their mascot, and later changed its "Asian Paints" logo to the shorter "AP" mnemonic.<ref name="Gattu" />

== Shareholding pattern ==
''As of 31 March 2021''
{| class="wikitable"
|+
!Category of Shareholder
!No of Shareholders
!Shareholding
|-
|Promoter & Promoter Group
|81
|52.7925%
|-
|Public
|4,99,104
|47.2075%
|-
|Total
|4,99,185
|100%
|}
<ref>{{Cite web|title=Company's website|url=https://www.asianpaints.com/content/dam/asianpaints/website/secondary-navigation/investors/shareholding-pattern/2020/Shareholding%20Pattern%20-%2031.03.2021(W).pdf|url-status=live}}</ref>

== References ==
{{Reflist|30em}}

==External links==
* {{Official website|http://www.asianpaints.com/}}

{{Nifty 200 companies}}
{{S&P CNX Nifty companies}}
{{BSE Sensex}}
{{Authority control}}

[[Category:Chemical companies of India]]
[[Category:NIFTY 50]]
[[Category:Indian brands]]
[[Category:Paint companies of India]]
[[Category:Indian companies established in 1941]]
[[Category:BSE SENSEX]]
[[Category:Asian Paints]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Asian Paints - Revision history

imported>Joppa Chong at 17:13, 2 September 2021