The 2020 Global Top 10: No. 9 Asian Paints Limited
9. Asian Paints Limited
Managing Director/CEO: Amit Syngle
Coatings Sales: Approx. $2.45 billion for sales ended Dec. 31, 2019
Founded in 1942, Asian Paints 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 market. The company and its subsidiaries have operations in 15 countries across the world with 26 paint manufacturing facilities serving consumers in 60 countries. Subsidiaries include Berger International, SCIB Paints – Egypt, Causeway, Apco Coatings, and Taubmans and Kadisco.
Source: Financial reports, company website
Notes: In September 2019, Asian Paints International Private Limited Singapore, a subsidiary of the company, entered into a share purchase agreement with Omega Property Investments Pty Ltd., Australia for divestment of its entire stake in Berger Paints Singapore Pte Limited.
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