Integrated Annual Report 2024-25
Asian Paints is India’s leading paint and décor brand and is among the top ten decorative coatings companies globally.
In FY 2024-25, we continued to elevate our benchmarks, evolve with our consumers’ changing lifestyles, and engrave our mark across millions of homes and hearts.
From reimagining living spaces to expanding our footprint in the home décor ecosystem, our journey remains rooted in purposeful growth, guided by a passion for creating beauty that lasts and bringing joy to people’s lives.
Know moreWe emphasise long-term sustainability, and we know that attaining this objective
requires robust and steady ESG performance. By upholding a consistent emphasis on
Environmental, Social, and Governance aspects, we strive to guarantee that our
endeavours provide favourable outcomes.
ENVIRONMENT
SUSTAINABLE OPERATIONS
As we grow our business, we remain committed to making 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
STRONG
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.
Asian Paints at a glance
innovative solutions. Our rich heritage
and commitment to excellence has led
to the creation of extraordinary
masterpieces.
Of Consistent
Progress
Segments
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.
Products & Services
- Interior wall finishes
- Exterior wall finishes
- Waterproofing
- Wood finishes
- Enamels
- Adhesives
- Tools
- Undercoats
Contribution of revenue from sale of products and services (Decorative and Home Décor business)
Expansive offering to provide a complete one-stop home décor solution to customers.
Products & Services
- Modular kitchens and wardrobes
- Bath fittings and sanitaryware
- Decorative lightings
- uPVC windows and doors
- Wall coverings
- Furniture
- Fabric & Furnishings
- Rugs
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.
Regions
- Asia
- Middle East
- Africa
- South Pacific
Contribution of revenue from sale of products and services
Provider of high-quality custom‑formulated products for the automotive and industrial business.
Entities with product category and related services.
PPG Asian Paints Pvt. Ltd. (PPG-AP)
- Automotive (OEM & refinish), General industrial, Packaging & Marine
Asian Paints PPG Pvt. Ltd. (AP-PPG)
- Industrial protective coatings, powder coatings and road markings
Contribution of revenue from sale of products and services
^Excluding PPGAP revenues as it is an Associate Company.
Our products and services
Our product portfolio encompasses both Decorative and Industrial paints, each meticulously formulated to meet the diverse requirements of all interior and exterior wall applications and a wide range of home décor solution.
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Paints
Wall Coverings
Waterproofing
Adhesives
Bath fittings and Sanitaryware
Modular Kitchens and Wardrobes
Fabric, Furnishings & Rugs
Decorative Lightings
uPVC Windows and Door Systems
Furnitures
Textures and Painting Aid
Mechanised Tools
Chairman’s Letter
PURPOSE, POWERED BY
CONFIDENCE
Dear Shareholders,
It is a privilege to address you once again this year, as the Chairman of the Board of Directors of this esteemed organisation. In a year when my engagement with the Company increased, I have come to admire even more the organisation’s strong legacy, its undiminished potential for continued leadership of the industry as well as the unfailing support of our stakeholders.
R. Seshasayee
Chairman Know more
MD & CEO’S Message
CANVAS
Dear Shareholders,
As I pen this letter to you all, one word that comes to my mind to aptly describe the year, 2024-25 is ‘Challenging’.
It has been a challenging and rigorous year for the entire domestic coatings industry despite the steady levels of overall economic activity in the country. The year saw further tapering of demand, continuing from a similar trend in the previous year. As a result, the coatings industry recorded a revenue decline, ranging from low single-digit degrowth to a flat performance for the year.
Amit Syngle
Managing Director & CEO Know more
Amit Syngle, MD and CEO
Amit Syngle, MD & CEO
Review
Progress that lasts is built with intention. We are embedding environmental responsibility, social impact and governance rigour into the way we operate, keeping us future-ready, accountable and in sync with a world that expects more.
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At Asian Paints, sustainable operations are a key pillar of our ESG strategy, guiding our efforts to reimagine processes with a strong focus on environmental responsibility. We are dedicated to optimising resource consumption, improving energy and water efficiency, minimising waste, and embracing circularity across our manufacturing processes. Continuous innovation and a deep-rooted culture of environmental stewardship enable us to build operations that are both resilient and future-ready.
FY 2024-25 HIGHLIGHTS
ESG STRATEGY
Energy conservation
Product stewardship
Water neutrality
Nature positive
UN SDGS IMPACTED
At Asian Paints, we view relationships - whether with our people, our customers, or the communities we serve - as the foundation of sustained impact. We remain deeply attuned to customer aspirations, delivering thoughtful innovation and seamless experiences. Within the organisation, we foster a culture of inclusion, well-being, and continuous learning that empowers individuals to grow with purpose. In our communities, we drive meaningful change through focused efforts in water stewardship, healthcare, and skilling, underpinned by strong partnerships and measurable outcomes.
FY 2024-25 HIGHLIGHTS
ESG STRATEGY
Customer Celebrations
Community Ownership
Water Stewardship
Energising, Equitable & Inclusive Workplace
Safe workplace
UN SDGS IMPACTED
Our governance philosophy reflects a proactive, future-focused approach rooted in ethical conduct and transparency. At Asian Paints, we view governance not merely as a regulatory requirement, but as an essential enabler of sustained leadership and trust. We remain fully compliant with all applicable laws and consistently aim to exceed traditional benchmarks, ensuring we are counted among India’s most well-governed companies.
FY 2024-25 HIGHLIGHTS
ESG STRATEGY
World-class governance
Ethics, transparency, quality and accountability
Sustainable supply chain management
UN SDGS IMPACTED
Engagement
We believe that building strong, collaborative relationships with stakeholders across the value chain is key to informed and effective decision-making. Through continuous engagement and a clear focus on their priorities, we create a dynamic environment that drives growth, innovation and transformative progress.
Know moreOur materiality assessment is a strategic lens through which we prioritise what matters most to our business and to those we serve.
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Discussion And
Analysis
Sharper focus. Stronger footing. As markets evolve and ambitions rise, we stay attuned to the signals - reading between the lines, scaling with intent, and shaping outcomes that matter.
