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BW Businessworld

Asian Paints: Vibrant Colours

Asian Paints’ social initiatives extend from education to hygiene and health and from water management to skill development

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Asian Paints is not only India’s leading paint company, it ranks among the top ten decorative coatings companies in the world, with a consolidated turnover of Rs 16,843.76 crore (168.43 billion) in FY18.

The group has an enviable reputation in the corporate world for its professionalism, fast track growth, and for building shareholder equity. Asian Paints and its subsidiaries have operations in 16 countries across the world with 26 paint manufacturing facilities, servicing consumers in over 65 countries. Asian Paints is present in the Home Improvement and Décor space in India through Sleek (Kitchens) and Ess Ess (Bath Fittings).

The company is the sectoral leader in BW Businessworld’s list of Most Respected Companies of 2018. Asian Paints’ overall rank in the list is 25.

Asian Paints had a humble beginning in 1942, when four friends dreamt of a company. After 1967, the venture never looked back. A quarter of a century later, Asian Paints emerged as the market leader in manufacturing paints.

The company has had a long tradition of rewriting its own best records. Thinking ahead of its times has always played a critical role in its success story. Asian Paints has created a seven-member Technology Council to brainstorm on its technology requirements and to be able to pinpoint its business opportunities, based on its technological prowess. Since numbers ring out louder than words, we quote figures.

In the six months ended September 30, 2018, Asian Paints’ group revenue from operations increased by 11.8 per cent to Rs 9,037.64 crore from Rs 8,083.97 crore. Profit before depreciation, interest and tax (PBDIT) of the group increased by 13.1 per cent to Rs 1,658.59 crore from Rs 1,466.50 crore. Profit before tax (PBT) increased by 12 per cent to Rs 1,596.95 crore from Rs 1,426.32 crore. Net Profit increased by 12.6 per cent to Rs 1,050.78 crore from Rs 933.60 crore in the previous corresponding period.

Announcing the Quarter 2 results for FY19, the company’s Managing Director & CEO, K. B. S. Anand said, “The decorative business segment in India registered a low double digit volume growth. Raw material prices continued to move up further which has led us to take a price increase from October 2018.” According to K. B. S. Anand, both the Home Improvement categories, namely Kitchen (Sleek) and Bath (ESS ESS), performed well during the quarter. In international operations, the company’s business conditions continued to remain challenging because of a crunch in forex, high inflation and difficult economic conditions in the world market.

In the financial year ended March 31, Asian Paints’ revenue from operations had been 11.2 per cent higher at Rs 14,153.71, with a 7.6 per cent increase in EBITDA to Rs 3,198 crores and a 5.2 per cent jump in profit after tax (PAT) to Rs 1,894.80 crore.

Asian Paints’ social initiatives extend from education to hygiene and health and from water management to skill development. Asian Paints has partnered with the National Skills Development Corporation (NSDC) to strengthen the programme for both unskilled and semi-skilled job aspirants. While Asian Paints provides technical know-how, prepares training content and delivers training modules, NSDC monitors, evaluates and certifies participants who complete the training programme.

On successful completion, participants are awarded an NSDC certification based on National Occupation Standards set by NSDC’s Construction Sector Skills Council. Collaborating for ‘public art gallery of the everyman’ is another Asian Paints initiative.

Asian Paints is an admired employer headed by a man who seems to live only for paints. The grapevine though, suggests that Anand is equally adept at defeating fellow corporate brass at a game of bridge.

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