Asian Paints: History, Latest Updates, Milestones, Subsidiaries & Share Price
Introduction
Asian Paints manufactures a wide range of paints for decoration and industrial use. It offers products for wall coverings, water proofing, adhesives and services too. It also offers interior designing, along with decors for bath and kitchen rooms. It has also included lightnings, furnishings and furniture in its portfolio. Asian Paints has entered into an agreement with Weatherseal Fenestration for engaging in the business of interior decoration / furnishing. The company has also entered into an agreement with White Teak firm to involve in business of decorative lightning products and fans
Asian Paints Moves In 2023-2024:
Asian Paints has made an announcement of their financial results for the Q1, Q2 and Q3 quarter for the financial year 2024. Asian Paints share price today (23.01.2024) is Rs. 3061.65. Asian Paints share price is also trading at a bearish price change of -2.61%.
Evolution Of Asian Paints: From Past to Present:
|
Year |
Evolution |
|
1942 |
Founding of Asian Paints in Bombay (now Mumbai) by four visionary friends. |
|
1945 |
Establishment of the company under the name Asian Oil and Paint Company Pvt. Ltd., with a focus on surface coatings and latex for rubber tires. |
|
1965 |
Change of the company's name to Asian Paints (India) Pvt. Ltd. |
|
1973 |
Conversion of Asian Paints into a Public Limited Company. |
|
1975 |
Issuance of bonus equity shares to shareholders. |
|
1985 |
Expansion with new paint units in Patancheru and collaboration with Nippon Paints for powder coatings. |
|
1987 |
Entry into synthetic rubber lattices production and receipt of a letter of intent for phthalic anhydride manufacturing. |
|
1988 |
Issuance of secured non-convertible debentures to financial institutions. |
|
1990 |
Expansion to Fiji, Tonga, Australia, and collaborations in Nepal and Sri Lanka. |
|
1991 |
Pentasia Chemicals Ltd. became a subsidiary and later merge into Asian Paints. |
|
1993 |
Operations expanded to Australia, and a joint venture with Mauritius was established. |
|
1995 |
Expansion of manufacturing capacities in Visakhapatnam, and collaboration with PT Abadi Coating Solusi, Indonesia. |
|
1996 |
Formation of a joint venture with PPG Industries, USA, for automotive paints. |
|
1999 |
Acquisition of a majority stake in Delmege Forsyth & Co (Paints) Ltd., Sri Lanka. |
|
2000 |
Commencement of manufacturing in Oman. |
|
2001 |
Introduction of Utsav Enamel and initiation of collaboration with the Maharashtra Government. |
|
2002 |
Establishment of joint ventures in Bangladesh and the Pacific Islands, and acquisition of a controlling stake in Berger International, Singapore. |
|
2003 |
Commencement of commercial production at the Rohtak plant, with a proposal for issuing bonus shares. |
|
2004 |
Launch of paint solutions for kids. |
|
2010 |
Expansion of production capacity at the Rohtak, Haryana, manufacturing plant. |
|
2011 |
Formation of a second joint venture with PPG Industries. |
|
2012 |
Acquisition of a majority stake in SCIB Chemicals S.A.E., Egypt. |
|
2013 |
Completion of the acquisition of Sleek Group. |
|
2014 |
Entry into agreements with Ess Ess by Asian Paints Ltd. |
|
2015 |
Signing of a Memorandum of Understanding with the Government of Andhra Pradesh. |
|
2017 |
Announcement of expansion plans in Gujarat and completion of the acquisition of Causeway Paints in Sri Lanka. |
|
2018 |
Ranking of Asian Paints 9th among the top paint companies globally. |
|
2019 |
Inclusion in Forbes List of World’s Best Regarded Companies. |
|
2020 |
Approval of the Scheme of Amalgamation with Reno Chemicals Pharmaceuticals & Cosmetics Private Limited. |
|
2021 |
Signing of a Memorandum of Understanding for manufacturing expansion in Vishakhapatnam. |
|
2022 |
Acquired majority stake in Aapex Power and Industries Private Ltd. and Harind Chemicals & Pharmaceuticals Private Ltd. |
|
Company Information |
|
|
Name |
Asian Paints Limited |
|
Founded year |
1st February, 1942 |
|
Founding chairman |
Champaklal Choksey Chimanlal Choksi Suryakant Dani Arvind Vakil |
|
Headquarters |
Mumbai, India |
|
Industry |
Chemicals |
|
Current chairman |
Manish Choksi (Vice Chairman) Amit Syngle (CEO |
|
Major subsidiaries |
APCO SCIB Paints PPG Asian Paints Asian Paints PPG Taubmans Sleek Ess Kadisco Asian Paints Asian Paints Berger Asian Paints Causeway |
|
Revenue |
INR 34,875 crore (2023) |
|
Geography served |
Worldwide |
|
NSE code |
NSE: ASIANPAINT NSE NIFTY 50 Constituent |
|
BSE code |
BSE: 50082 BSE SENSEX Constituent |
Timeline Of Asian Paints:
|
Year |
Fact |
Time Line |
|
1942 |
Founded |
Asian Paints |
|
1945 |
Establishment |
Asian Oil and Paint Company Pvt. Ltd |
|
1965 |
Change of Name |
Asian Paints (India) Pvt. Ltd. |
|
1973 |
Conversion |
Asian Paints Public Limited Company. |
|
1985 |
Collaboration |
With Nippon Paints |
|
1990 |
Expansion |
To Fiji, Tonga, Australia, and collaborations in Nepal and Sri Lanka |
|
1991 |
Subsidiary & Merger |
Pentasia Chemicals Ltd. |
|
1993 |
Operation Expansion |
Queensland, Australia |
|
1993 |
Joint Venture |
Mauritius |
|
1996 |
Joint Venture |
PPG Industries, USA |
|
1999 |
Acquisition |
Delmege Forsyth & Co (Paints) Ltd., Sri Lanka. |
|
2000 |
Commencement of Operation |
Oman |
|
2002 |
Joint Venture |
Bangladesh and the Pacific Islands |
|
2002 |
Acquisition |
Berger International, Singapore. |
|
2003 |
Commercial Production |
Rohtak plant |
|
2012 |
Acquisition |
SCIB Chemicals S.A.E. Egypt |
|
2013 |
Acquisition |
Sleek Group |
|
2014 |
Agreement |
With Ess Ess by Asian Paints Ltd. |
|
2015 |
MoU |
Andhra Pradesh Government |
|
2020 |
Approval |
Approval of the Scheme of Amalgamation with Reno Chemicals Pharmaceuticals & Cosmetics Private Limited. |
|
2021 |
MoU |
for manufacturing expansion in Vishakhapatnam |
|
2022 |
Acquisition |
Aapex Power and Industries Private Ltd |
Inside Asian Paints:
Corporate Actions/ Main News:
Asian Paints reported consolidated net sales of Rs. 9,154 crores in Q1 FY'24, reflecting a growth of 6.7% compared to the previous period. In Q2 FY'24, both consolidated and standalone net sales remained flat, with figures of Rs. 8,452 crores and Rs.7,316 crores, respectively. Moving to Q3 FY'24, there was a positive trend with consolidated net sales reaching Rs.9,075 crores, up by 5.4%, while standalone net sales stood at Rs.7,883 crores, reflecting a 5.2% increase. Stay tuned for further insights and analysis on Asian Paints' performance in the evolving market.
Current Asian Paints Share Price NSE/BSE
|
COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
Asian Paints |
Chemicals |
Achievements & Milestone:
|
Year |
Achievements |
|
2023 |
One among the top 2000 world’s largest public companies as of Forbes 2023 |
|
2022 |
Ranked as the '2nd Best Company to Work For' in the Manufacturing sector by Business Today in April 2022. Achieved the 'Golden Peacock Award for Excellence in Corporate Governance' for the third consecutive year in March 2022. Acknowledged as one of the Top 30 Most Sustainable Companies in India for 2021-22 by Business World magazine in collaboration with Sustain Labs Paris in March 2022. |
|
Year |
Milestones |
|
1942 |
Founded Asian Paints |
|
1973 |
Asian Paints Public Limited Company. |
|
1985 |
Collaboration with Nippon Paints |
|
1991 |
Merger of Pentasia Chemicals Ltd. |
|
1993 |
Expansion to Queensland, Australia |
|
1996 |
Joint Venture with PPG Industries, USA |
|
1999 |
Acquisition of Delmege Forsyth & Co (Paints) Ltd., Sri Lanka. |
|
2002 |
Acquisition of Berger International, Singapore. |
|
2012 |
Acquisition of SCIB Chemicals S.A.E. Egypt |
|
2013 |
Acquisition of Sleek Group |
|
2015 |
MoU with Andhra Pradesh Government |
|
2018 |
9th among top paint companies |
|
2019 |
In Forbes List of World’s Best Regarded Companies. |
|
2022 |
Acquisition of Aapex Power and Industries Private Ltd |
Conclusion
Asian Paints Ltd. serves as a remarkable example of entrepreneurial success and innovation in India. Since its humble inception in 1942, the company has grown into a global leader in the paints and coatings industry. Asian Paints not only upholds its reputation for exceptional products but also sets a standard for others. Each colour choice becomes a narrative, capturing moments, emotions, and aspirations. With a rich history, a vision for sustainable growth, and a commitment to quality, Asian Paints is not just a choice but a cherished partner in creating memories for homes and offices across India. Whether you're redecorating your home, safeguarding industrial assets, or seeking state-of-the-art kitchen and bath solutions, Asian Paints Ltd. remains the trusted name that has coloured the aspirations of generations.
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Frequently Asked Questions:
What is the history of Asian Paints Limited?
Asian Paints Limited was founded in 1942 by Champaklal H. Choksey, Chimanlal N. Choksi, Suryakant C. Dani, and Arvind R. Vakil. It started as a small paint company in Mumbai and has since grown into a global leader in the paints and coatings industry.
Where can you find the Asian Paints Share Price?
You can check the Asian Paints share price page on Enrich Money's stock analysis page.
Where can I find financial and technical information related to Asian Paints?
You can check for all financial, technical, shareholding patterns, corporate action, news , and also on Asian Paints Share Price information at Asian Paints Share Price page on Enrich Money's .
What is the market capitalization of Asian Paints?
Asian Paints Market Cap is 2.94 trillion INR.
What are Asian Paints’ 52 week high / low share price?
Asian Paints share price reached a 52-week high of Rs 3,582.90.
Asian Paints share price tumbled to a 52-week low of Rs 2,560.00.
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