people’s lives®
Asian Paints is India’s leading paint and décor company and ranks among the top 10 Decorative Coating companies globally. In financial year 2023-24, we continued to uplift spaces, transcend the boundaries of colour and design, creating a positive impact in the lives of our customers. At Asian Paints, our legacy is not just about paints; we make enduring impressions with a focus on:
Empathising
Our ability to understand customer’s emotions and perspective guides us in crafting spaces that are unique to them. We offer them comfort and vibrancy, enhancing their lives with our thoughtful approach.
Propelling
We empower our customers to dream, create, and celebrate through colour and design. We fuel inspiration by providing personalised solutions and pushing the boundaries of innovation to create better homes sustainably.
Celebrating
Embracing the significance of various occasions, milestones, and festivities, we deliver a range of solutions that enable our customers to create lasting, memorable experiences, enriching their lives and the spaces they inhabit.
We prioritise long-term
sustainability, and we know that
attaining this objective requires
robust and
steady ESG performance.
By maintaining a consistent emphasis
on Environmental, Social, and
Governance aspects, we strive
to guarantee that our endeavors
provide favorable outcomes.
Environment
Sustainable operations
As we grow our business, we remain committed to having a positive impact on nature through integrating sustainability into our operations and product portfolio.
Social
Synergising relationships
Our mission is to promote societal well-being by upholding human rights, implementing fair labour practices, promoting diversity and inclusion, and developing communities.
Governance
We remain committed to transparency. Our robust governance principles empower our Board and management team to provide effective oversight and facilitate informed decision-making.
at a glance
At Asian Paints, vibrant colours meet innovative solutions. Our rich heritage and commitment to excellence has led to the creation of extraordinary masterpieces. As India’s most trusted brand, we pride ourselves on delivering exceptional quality products and services that enhances the joy of everyday living.
Paint company
in India
Integrated Home
Décor player
in Decorative
lighting
in Fabric and
Furnishing
Stature
Paint company in Asia
Paint company in the world
Scale
In-house paint manufacturing facilities worldwide
Countries served
Installed in-house decorative paint manufacturing capacity in India (KL/annum)^
Reach
Beautiful Homes stores across India
Retail touchpoints across India
Beautifulhomes.com visitors during the year
People
Employees globally
Scientists driving innovation
^Over and above, our Company has also
tied up with outside processing centres
(OPCs) for manufacture and purchase of
certain products
Decorative Business
India’s leading paint and décor company offering wide range of products and services along with largest-of-its-kind painting service in the world.
Revenue
Contribution of revenue from sale of products and services (Decorative and Home décor business): 88.2%
*Includes Obgenix Software Private Limited(‘White Teak’) revenues from the date it became subsidiary
Home décor Business
Expansive offering to provide a complete one-stop home décor solution to customers.
International Business
Taking forward the legacy of Asian Paints to cater to a wide cross-section of customers across geographies and bring delight to millions of households.
Revenue
Contribution to revenue from sale of products and services : 8.7%
Industrial Business
Provider of high-quality custom-formulated products for the automotive and industrial business.
Revenue
Contribution of revenue from sale of product and services: 3.1%
^Excluding PPG-AP revenues as it is an Associate Company
services
We have been at the forefront of innovation, offering traditional paints and comprehensive décor solutions. Our product range includes Decorative and Industrial paints that fulfill the diverse requirements of interior and exterior wall applications.
-
Paints
-
Wall Coverings
-
Textures and Painting Aid
-
Waterproofing
-
Mechanised Tools
-
Adhesives
-
Modular Kitchens and Wardrobes
-
Bath fittings and Sanitaryware
-
Decorative Lightings
-
uPVC Windows and Door Systems
-
Fabric, Furnishings & Rugs
performance
Revenue from sale of products and services
2.6 %Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
23.9 %Free Cash Flow
18.5 %Return on Capital Employed (RoCE)
8.4%
Participants trained at Asian Paints Colour Academy
Total Recordable Frequency Rate (TRFR)
Employee engagement score
Net Promoter Score (NPS)
A legacy of performance and excellence
"ESG has consistently been at the core of all our business objectives and operations. We firmly believe that a persistent focus on ESG is fundamental for long-term success and resilient value creation"
R Seshasayee
Chairman
Delivering on the promise of growth
"We continued to drive volumes across all segments registering a near double-digit volume growth for the year. This has been our commitment for the last many quarters and we have grown at strong CAGR volume growth over 4 years"
Amit Syngle
Managing Director & CEO
Bringing joy to people’s lives
*Environmental performance pertains to decorative paint manufacturing units
Our robust ESG framework that is deeply tied to our core values guides us towards sustainable value creation. Through responsible business practices across our ESG focus areas, we fulfill our commitment towards our People, Planet and Profit objectives.
Sustainability is an integral part of our decision-making process, enabling us to mitigate risks, seize opportunities, and build long-lasting operating models that align with our ESG agenda. We intend to continue this journey towards achieving operational and product sustainability as part of our ESG agenda.
Download this sectionElectricity from renewable sources at decorative paint manufacturing units
Freshwater replenished
Recycled plastic used in packaging
At Asian Paints, we have consistently prioritised building long-lasting relationships with our employees, customers and the communities we operate in. Adhering to this guiding philosophy, we have effectively generated transformative value for all our stakeholders.
Download this sectionTotal on-roll employees
Employee training hours
Lives touched through healthcare initiatives
Our corporate governance philosophy is the bedrock of our ethical and resilient Company, enabling our continued leadership. Through good governance, we arrive at effective decision-making that are aligned with our values.
Download this sectionCommittees chaired by Independent Director
Directors as of 31st March 2024 were Independent
Time spent by the Board of Directors on matters of strategic importance
Of our new suppliers are screened based on our Environmental and Social criteria
Stakeholder
engagement
Establishing strong relationship with stakeholders across the value chain drives informed decision-making. By consistently engaging with them and prioritising their requirements, we foster an environment of growth, transformation, and innovation.
Materiality
Our sustainability strategy is built on materiality, allowing us to concentrate our efforts and resources effectively to achieve our goals.
Innovation
Our state-of-art manufacturing facilities coupled with strong research-backed process improvement drives our growth. Consistently refining both products and processes allows us to fully utilise the capabilities of our manufacturing facilities, ensuring timely delivery of products.
- Energy conservation
- Water neutrality
- Product stewardship
- Nature positive
- Safe workplace
- Sustainable supply chain
Brief analysis and description of the macro-economic landscape we operate in. It covers the global and Indian economic scenario, along with the outlook.
review
Analysis and description of
- Decorative business in India
- Home Décor
- Kitchen business
- Bath fittings and sanitaryware
- International business
- Industrial business in India
review
Key indicators and analysis of our balance sheet, profit and loss statement, and cash flow statement.
