The 2019 Global Top 10: No. 9 Asian Paints Ltd.
9. Asian Paints Ltd.
Managing Director/CEO: K.B.S. Anand
Coatings Sales: Approx. $2.4 billion for sales ended March 31, 2019
Founded in 1942, Asian Paints was set up as a partnership between four friends. The company is now India’s leading paint company and ranked among the top decorative coatings companies in the world. Asian Paints produces a range of decorative and industrial coatings. In decorative coatings, the company operates in four segments: Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wood Finishes. In the industrial sector, the company operates through PPG Asian Paints Pvt. Ltd. (a 50:50 joint venture with PPG), which serves the Indian automotive coatings market. The company has another joint venture with PPG, Asian Paints PPG Pvt. Ltd., which serves the Indian protective coatings, powder coatings, floor coatings and road markings markets. The company and its subsidiaries have operations in 16 countries across the world with 27 paint manufacturing facilities serving consumers in 65 countries. Subsidiaries include Berger International, SCIB Paints – Egypt, Asian Paints, Apco Coatings, and Taubmans and Kadisco.
For the reporting period, revenue from international operations was distributed as follows: Asia (Bangladesh, Nepal, Sri Lanka, Singapore and Indonesia) – 48%, Africa (Egypt and Ethiopia) – 20%, Middle East (Oman, Bahrain and UAE) – 26%, and South Pacific (Fiji, Solomon Islands, Samoa, Tonga and Vanuatu) – 6%.
Source: 2018-19 Annual Report, company website
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