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Asian Paints Ltd is an Indian multinational
paint Paint is any pigmented liquid, liquefiable, or solid mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture. Paint can be made in many ...
company, headquartered in
Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
,
Maharashtra Maharashtra (; , abbr. MH or Maha) is a states and union territories of India, state in the western India, western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the List of states and union te ...
,
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
. The company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, bath fittings and providing of related services. Asian Paints is India's largest and Asia's second largest paints corporation. Asian Paints is the holding company of Berger International. The company's manufacturing operations encompass 15 countries of the world including India, with considerable presence in the
Indian subcontinent The Indian subcontinent is a list of the physiographic regions of the world, physiographical region in United Nations geoscheme for Asia#Southern Asia, Southern Asia. It is situated on the Indian Plate, projecting southwards into the Indian O ...
and the
Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...
.


History

The company was started in a garage in Gaiwadi,
Girgaon Girgaon, or Girgaum, is an area in southern Mumbai in Maharashtra, India. It is near the coast. A section of Marine Drive is located here. See also *Girgaum Chowpatti *Tanks of Bombay Although the tanks have long vanished, the city of Bom ...
,
Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
by four friends Champaklal Choksey, Chimanlal Choksi, Suryakant Dani and Arvind Vakil. They all belong to
Jain Jainism ( ), also known as Jain Dharma, is an Indian religion. Jainism traces its spiritual ideas and history through the succession of twenty-four tirthankaras (supreme preachers of ''Dharma''), with the first in the current time cycle being ...
families, and founded the company in February 1942. During
World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
and the
Quit India Movement The Quit India Movement, also known as the August Kranti Movement, was a movement launched at the Bombay session of the All India Congress Committee by Mahatma Gandhi on 8th August 1942, during World War II, demanding an end to British rule in ...
of 1942, a temporary ban on paint imports left only foreign companies and
Shalimar Paints Shalimar Paints is an Indian paints manufacturing company. The company is engaged in manufacturing and marketing of decorative paints and industrial coatings. Some of India’s buildings and structures such as the Howrah Bridge, Rashtrapati Bh ...
in the market. Asian Paints took up the market and reported an annual turnover of 23
crore A crore (; abbreviated cr) denotes ten million (10,000,000 or 107 in scientific notation) and is equal to 100 lakh in the Indian numbering system. It is written as 1,00,00,000 with the local 2,2,3 style of digit group separators (one lakh is e ...
in 1952 but with only 2% PBT margin. By 1967, it became the leading paints manufacturer in the country. The four families together held the majority shares of the company. But disputes started over the global rights in 1990s when the company expanded beyond India. The disputes resulted in Choksey selling their 13.7% shares and exiting in 1997. Champaklal died in July 1997 and his son Atul took over. After failed collaboration talks with the British company
Imperial Chemical Industries Imperial Chemical Industries (ICI) was a British chemical company. It was, for much of its history, the largest manufacturer in Britain. It was formed by the merger of four leading British chemical companies in 1926. Its headquarters were at M ...
, Choksey's shares were mutually bought by the remaining three families and
Unit Trust of India UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a Securities and Exchange Board of India (SEBI) registered mutual fund from 1 February 2003. The Unit Trust of India Act 1963 was repealed, paving way for the bifurcati ...
. , the Choksi, Dani and Vakil families hold a share of 47.81%.


Manufacturing locations

The company along with its subsidiaries have 26 manufacturing facilities across 16 countries serving customer globally in over 65 countries.


Ownership structure

The company has 12 institutional owners and shareholders that are investing through
Securities Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...
(SEC). Largest stakeholders include Bridge Builder International Equity Fund, and Touchstone Sands Capital Emerging Markets Growth Fund.


Marketing and advertising

In 1950s, the company launched a "washable distemper", which was a balance between the cheap dry distemper that peeled easily and the more expensive plastic emulsions. Promoting their brand Tractor Distemper, the company used "''Don't lose your temper, use Tractor Distemper''" in their advertisings. In 1954, "Gattu" – a mischievous boy with a paint bucket in his hand – was launched as mascot. Created by
R. K. Laxman Rasipuram Krishnaswami Laxman ''Pg. 11 in the source says that Laxman & his brother Narayan were Tamil Iyer Brahmins.'' (24 October 1921 – 26 January 2015) was an Indian cartoonist, illustrator, and humorist. He is best known for his creation ...
, the mascot found appeal with the middle-classes. He was used only in print advertisements and packaging till 1970s and by 1990s, was also seen on television advertisements. Gattu helped in bringing the commodity-led business of painters to the actual end users of home-owners.
Ogilvy & Mather Ogilvy is a New York City-based British advertising, marketing, and public relations agency. It was founded in 1850 by Edmund Mather as a London-based agency. In 1964, the firm became known as Ogilvy & Mather after merging with a New York City a ...
, the advertising agency associated with Asian Paints, launched marketing strategy by focusing on festive occasions in 1980s with their tag line "''Har Ghar Kucch Kehta Hai''" (Every home says something). Relating with
festivals A festival is an event ordinarily celebrated by a community and centering on some characteristic aspect or aspects of that community and its religion or cultures. It is often marked as a local or national holiday, mela, or eid. A festival co ...
and important life events like marriages and child birth, the company advertised it as an occasion to paint homes by connecting on emotional level. In 1990s, the advertisements focused on the home exteriors, focusing on how the paints could keep the exteriors timeless. The company revamped its corporate identity in 2000s and axed Gattu as their mascot, and later changed its "Asian Paints" logo to the shorter "AP" mnemonic.


Shareholding pattern

''As of 31 March 2021'' In 2022, Asian Paints Q1 net profit up 79% to ₹1,017 crore; revenue up 55%.


References


External links

* {{Authority control Chemical companies of India NIFTY 50 Indian brands Paint companies of India Indian companies established in 1942 BSE SENSEX Asian Paints Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange