2026 Global Top 10: No. 8, Asian Paints Limited
Founded in 1942, Asian Paints is India’s largest paint company and one of the leading coatings manufacturers globally. Asian Paints and its subsidiaries operate across 14 countries and serve customers in more than 60 markets under brands including Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints.
For the fiscal year ending March 31, 2026, the company reported consolidated net sales of ₹35,516.4 crore, an increase of 5.1% from ₹33,797.4 crore in the prior year. PBDIT increased 11.5% to ₹6,695.9 crore, while profit before exceptional items and tax increased 12.7% to ₹6,161.1 crore. Net profit after minority interest increased 17.9% to ₹4,325.4 crore.
8. Asian Paints Limited
2025 Coatings Sales: Approx. $4.08 billion USD (₹35,516.4 crore) for the fiscal year ending March 31, 2026
Headquarters: Mumbai, India
Managing Director/CEO: Amit Syngle
The company’s decorative business in India delivered stronger momentum in the fourth quarter, with double-digit volume and value growth. Asian Paints said overall domestic coatings growth was supported by strong performance in industrial coatings. International business also improved during the year, with FY2026 net sales rising 8.9%. Fourth-quarter growth was led by units in Sri Lanka, Egypt and the UAE.
Asian Paints continues to report that it is primarily engaged in the business of paints and home décor and that there is no separate reportable segment under Ind AS 108. As a result, this listing uses consolidated net sales as the coatings sales figure, consistent with the absence of a separately reported coatings-only total.
Notes: In June 2025, Asian Paints acquired the remaining 40% stake in Obgenix Software Private Limited, the parent company of White Teak, for ₹188 crore. The acquisition made White Teak, which operates in decorative and architectural lighting and home décor accessories, a wholly owned Asian Paints subsidiary.
In August 2025, Asian Paints and PPG renewed their India joint venture agreements for an additional 15 years, extending the partnership through 2041. The two joint ventures serve automotive, refinish, marine, packaging, protective and powder coatings markets in India.
In October 2025, Asian Paints’ white cement business began commercial production at its Fujairah, United Arab Emirates, facility. The plant produces white cement and white cement clinker and supports the company’s backward-integration strategy.
In November 2025, Berger Paints Emirates Ltd. Co., an Asian Paints step-down subsidiary, announced plans to establish its second paint manufacturing facility in the United Arab Emirates. The AED 140 million project will be located in Khalifa Economic Zones Abu Dhabi and have an initial capacity of 55,800 KL per year.
In February 2026, Asian Paints introduced its ColourNext 2026 forecast and named Moonlit Silk its Color of the Year. The forecast also included four broader design directions examining how material, culture and changing consumer preferences are influencing interiors.
Source: Annual Report, company website, company disclosures, press releases
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