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Process Industries

Asian Paints Ltd.

Company Background

Asian Paints, India's biggest paint producer, offers both household- and industrial-use products. Founded in 1942 by four partners, the company has held the largest share of the domestic paint market since 1967. It does business in South Asia, Africa, the Middle East and elsewhere through group units; all told, it supplies paint to more than 60 countries.

 

The company's growth is partly attributable to its active adoption of new technologies. Over the years, it enhanced its lineup of high-end paint for homes. Asian Paints' showrooms in Delhi and Mumbai are designed to present a broad range of products to customers.

 

In the automobile paint market, Asian Paints has a joint venture with major U.S. company PPG Industries.

 

The founders' families and affiliated companies own nearly 50% of Asian Paints shares. The board is also dominated by founding family members. The company is eager to expand abroad: In early 2015, it decided to acquire Ethiopia's Kadisco Paint.

 

Business Summary

Asian Paints Ltd. manufactures and markets paints and coating products. It operates through the Paints and Home Improvement segments. The Paints segment manufactures and trades paints and related services. The Home Improvement segment engages in the manufacture and trade of bath fitting products and related services. The company was founded by Champaklal H. Choksey, Chimanlal N.Choksi, Suryakant C. Dani and Arvind R. Vakil on February 1, 1942 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2020 INRUSD
Revenue200,946M2,833.97M
Gross Profit61,562.20M868.22M
Operating income33,578.20M473.55M
Income before tax35,832.50M505.35M
Net income27,101.20M382.21M
EBITDA41,383.20M583.63M
Diluted EPS28.220.39
Dividends Per Share120.16
Total Assets161,547.70M2,135.42M
Total liabilities56,164.40M742.41M
Total equity101,301.60M1,339.06M
Operating cash flow26,234.50M369.98M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 141,358M 150,307.10M 166,804.70M 191,067.20M 200,946M
Gross Profit 45,124.20M 50,381.40M 52,128.10M 55,964.90M 61,562.20M
Operating income 25,373.80M 25,718.70M 27,276.10M 30,751M 33,578.20M
Income before tax 26,138.50M 29,336.80M 30,684.80M 32,711.70M 35,832.50M
Net income 17,451.60M 19,135.70M 19,689.30M 21,617.20M 27,101.20M
EBITDA 28,129.60M 29,066.60M 30,880.80M 36,972.40M 41,383.20M
Diluted EPS 18.19 20.22 20.55 22.47 28.22
Dividends Per Share 7.50 8.30 8.70 10.50 12
Total Assets 105,608.60M 124,213.50M 137,830.80M 162,781M 161,547.70M
Total liabilities 36,532.20M 44,457.80M 50,463.60M 64,447.80M 56,164.40M
Total equity 65,239.50M 76,001.20M 84,090.70M 94,705.50M 101,301.60M
Operating cash flow 22,864.50M 15,975.60M 21,550.20M 24,431.50M 26,234.50M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 2,159.09M 2,241.48M 2,587.48M 2,731.76M 2,833.97M
Gross Profit 689.22M 751.32M 808.61M 800.15M 868.22M
Operating income 387.55M 383.53M 423.10M 439.65M 473.55M
Income before tax 399.23M 437.49M 475.98M 467.69M 505.35M
Net income 266.55M 285.36M 305.42M 309.07M 382.21M
EBITDA 429.65M 433.46M 479.02M 528.60M 583.63M
Diluted EPS 0.27 0.30 0.31 0.32 0.39
Dividends Per Share 0.11 0.12 0.13 0.15 0.16
Total Assets 1,594.75M 1,912.88M 2,113.26M 2,349.77M 2,135.42M
Total liabilities 551.65M 684.65M 773.72M 930.31M 742.41M
Total equity 985.15M 1,170.41M 1,289.30M 1,367.09M 1,339.06M
Operating cash flow 349.23M 238.23M 334.28M 349.30M 369.98M

Valuation Measures

Mar 2020
PER59.04
ROA16.71%
ROE27.65%
Operating margin16.71%
Profit margin13.48%

Key executives

  • Chief Executive Officer, MD & Director: Amit Syngle
  • Secretary, Chief Financial & Compliance Officer: R. J. Jeyamurugan
  • Manager-Customer Centricity: Varun Amar Vakil
  • General Manager-Internal Audit & Risk: Aniruddha P. Deshmukh
  • General Manager-Corporate Accounts: P. Sriram

Shareholders

  • Geetanjali Trading & Investments Pvt Ltd. (16.3%)
  • Teesta Retail Pvt Ltd. (4.8%)
  • Elcid Investments Ltd. (2.9%)
  • VAKIL ABHAY ARVIND (2.4%)
  • Gujarat Organics Ltd. (2.4%)
  • Life Insurance Corp of India (2.3%)
  • Sudhanava Investment & Trading Co. Pvt Ltd. (1.9%)
  • Rupen Investment & Industries Ltd. (1.9%)
  • Satyadharma Investments & Trading Co. Pvt Ltd. (1.9%)
  • Castle Investment & Industries Ltd. (1.6%)

Contact Details

Related Companies

  • Asian Paints (S.I.) Ltd.
  • PT Asian Paints Color Indonesia
  • PT Asian Paints Indonesia
  • Universal Paints Ltd.
  • Reno Chemicals Pharmaceuticals & Cosmetics Pvt Ltd.
  • Asian Paints (Nepal) Pvt Ltd.
  • SCIB Paints
  • ESS ESS Bathroom Products Pvt Ltd. /Front End Sales Bus/
  • Asian Paints (Tonga) Ltd.
  • Sleek International Pvt Ltd.
  • Samoa Paints Ltd.
  • Asian Paints (International) Ltd.
  • Asian Paints Industrial Coatings Ltd.
  • Maxbhumi Developers Ltd.
  • Howcoplast Chemicals
  • Scib Chemical SAE
  • Asian Paints Queensland Pty Ltd.
  • Asian Paints (South Pacific) Ltd.
  • Asian Paints International Private Limited

Competitors

  • Sherwin-Williams Company
  • Akzo Nobel N.V.
  • Berkshire Hathaway Inc. Class B
  • Berger Paints India Limited
  • RPM International Inc.
  • NIPPON PAINT HOLDINGS CO.LTD.
  • BASF SE
  • Masco Corporation
  • PPG Industries, Inc.
  • Kansai Paint Co., Ltd.
  • Axalta Coating Systems Ltd.
Last Updated on 27 Oct, 2020

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