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Asian Paints
| File:Asian paints logo.svg | |
| Traded as | |
|---|---|
| ISIN | INE021A01026 |
| Industry | Chemicals |
| Founded | 1 February 1942 |
| Founder(s)s |
|
| Headquarters | , India |
Area served | Worldwide |
Key people |
|
| Products | |
| Revenue |  ₹20,515 crore (US$2.9 billion) (2020)[1] |
| ₹3,685 crore (US$520 million) (2020)[1] | |
| ₹2,728 crore (US$380 million) (2020)[1] | |
| Total assets | ₹16,154 crore (US$2.3 billion) (2020)[1] |
| Total equity | ₹10,034 crore (US$1.4 billion) (2020)[1] |
Number of employees | 7,600+ (2020)[1] |
| Website | asianpaints.com |
Asian Paints Ltd is an Indian multinational paint company, headquartered in Mumbai.[2] 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.[3][4][5] Asian Paints is the holding company of Berger International.[6] The company generated a revenue of ₹17,194.1 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.[7]
History[edit]
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 ₹23 crore in 1952 but with only 2% PBT margin. By 1967, it became the leading paints manufacturer in the country.[8][9]
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[update], the Choksi, Dani and Vakil families hold a share of 47.81%.[9]
Manufacturing locations[10][edit]
The company along with its subsidiaries have 26 manufacturing facilities across 15 countries serving customer globally in over 60 countries.
| 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 & Taloja (Maharashtra), Mysuru (Karnataka), 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 | 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 |
| Total | 26 | ||
Ownership structure[edit]
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.[11]
Leadership Team[edit]
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.[12]
Marketing and advertising[edit]
In 1950s, the company launched a "washable 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.[8] 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.[13]
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.[13] 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 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.[13] 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.[13]
[edit]
As of 31 March 2021
| Category of Shareholder | No of Shareholders | Shareholding |
|---|---|---|
| Promoter & Promoter Group | 81 | 52.7925% |
| Public | 4,99,104 | 47.2075% |
| Total | 4,99,185 | 100% |
References[edit]
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Asian Paints Limited Financial Statements" (PDF). Asian Paints. Retrieved 23 February 2020.
- ↑ "Started by four Mumbaikers, how Asian Paints is today one of India's most valued companies". Businessinsider.in. Retrieved 18 November 2016.
- ↑ "Asian Paints, Hindustan Unilever top innovative Indian firms on Forbes' list". Ibtimes.co.in. Retrieved 18 November 2016.
- ↑ "Shares of Asian Paints jump 7% on good Q1 results". The Economic Times. Retrieved 18 November 2016.
- ↑ "Local people demand jobs in Asian Paints' proposed plant". The Hindu. Retrieved 18 November 2016.
- ↑ "Asian Paints acquires 96.48% stake in Berger; open offer ends". The Economic Times. Retrieved 18 November 2016.
- ↑ "Annual report 2019-20" (PDF).
{{cite web}}: CS1 maint: url-status (link) - ↑ 8.0 8.1 Mukherjea, Saurabh (2016). The Unusual Billionaires. Penguin UK. ISBN 9789386057679.[page needed]
- ↑ 9.0 9.1 Hiscock, Geoff (2008). India's Global Wealth Club: The Stunning Rise of Its Billionaires and Their Secrets of Success. John Wiley & Sons. p. 211. ISBN 9780470822388.
- ↑ "https://www.asianpaints.com/content/ap/en/home/about-us.html". www.asianpaints.com. Retrieved 7 June 2021.
{{cite web}}: External link in|title= - ↑ Stuff, Publication. "ASIANPAINT Institutional Ownership - ASIAN PAINTS LTD. Stock". fintel.io. Retrieved 2 May 2020.
- ↑ "Company's website" (PDF).
{{cite web}}: CS1 maint: url-status (link) - ↑ 13.0 13.1 13.2 13.3 Pinto, Viveat (12 February 2015). "40 years ago...And now: Gattu's antics coloured Asian Paints' future". Business Standard. Retrieved 19 November 2016.
- ↑ "Company's website" (PDF).
{{cite web}}: CS1 maint: url-status (link)