10. Asian Paints Limited
Mumbai, India
www.asianpaints.com
PUBLIC COMPANY; YEAR ESTABLISHED: 1942
REVENUE: $2.60 billion s (2015: $2.3 billion)
MARKETS SERVED
Architectural coatings; Industrial coatings; Automotive coatings
KEY EXECUTIVES
K.B.S. Anand, MD and CEO; Amit Syngle, president architectural coatings, India; Jayesh
Merchant, CFO and company secretary, president, industrial JVs India.
Asian Paints had sales of $2.60 billion for 2016. Architec- tural/decorative coatings comprised 90 percent of sales and industrial and automotive coatings comprised the rest.
Asian Paints is one of the leading paint companies in India.
Along with its subsidiaries, it has operations in 19 countries with
26 paint manufacturing facilities, serving consumers in more than
65 countries.
Key brands in India include for exterior walls: Apex, Ace, Apex
Ultima, Apex Ultima Protek and Apex Duracast; interior walls:
Royale, Royale Aspira, Royale Play, Tractor, Premium Emulsion,
Apcolite and Utsav; metal surface: Utsav, Premium Enamel and
wood: PU, Touchwood and Polyester.
“The decorative business segment in India registered a low
double digit growth in the current quarter after witnessing some
recovery from the impact of demonetization,” said K.B.S. Anand,
managing director and CEO, Asian Paints. “Raw material prices
have moved up over the last two quarters necessitating price in-
creases to protect margins. Good demand conditions in the auto
OEM and general industrial business segment led to improved per-
formance of the automotive coatings JV (PPG-AP). In the industrial
coatings JV (AP-PPG), industrial liquid paints, road marking paints
and powder coatings segment registered good growth.”
He noted that the company’s international business performed
well aided by strong performance in markets like Nepal, Jamaica,
Fiji, Oman and Bahrain. “Egypt was impacted by the devaluation
of the local currency; whereas shortage of raw materials on account
of unavailability of foreign exchange affected Ethiopia operations,”
Anand stated. “Both the segments in the Home Improvement cat-
egory viz. the Kitchen (Sleek) and Bath (ESS ESS) business, delivered
good topline growth in the quarter.”
Asian Paints has launched its new painting service called Ezycolour
Home Solutions with the intention of taking the pain out of painting.
In the form of a musical satire, the brand changes the perception
of a home-owner who expects the painting team of Ezycolour to
miss their deadline. The film aims to change viewers perceptions on
how a company can deliver on-time service.
Amit Syngle, presiden, Asian Paints said, “The consumer
proposition of “On-time painting” solves a perennial issue of
delays in home décor and creates an instant connect. The use of
mechanized tools from Asian Paints ensure we always finish the
work on time. This has been brought to life brilliantly in the film
by the creative team.”
Asian Paints Names Intense Ocean
Color of the Year
Asian Paints announced Intense Ocean as it 2017 color of the year.
The color is described as greener than blue, bluer than grey. The
green, stable and enduring like the color of the Anahata Chakra
(the heart chakra in yogic tradition); the blue, deep and calm; and
the grey undertone, mature — brightening the soft and softening
the harsh. “If the pursuit of balance had a hue, it would be this.
Reflecting the mood of a people waiting to exhale, Colour of the
year paints the hope and resolve of the times we live in, in one fluid
stroke,” Asian Paints stated.
