YEAR ESTABLISHED: 1942
REVENUE: $2.60 billion
(2015: $2.3 billion)
Architectural coatings; Industrial coatings; Automotive coatings
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. Architectural/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 increases to protect margins.
Good demand conditions in the auto OEM and general industrial business segment led to improved performance 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 category 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.