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asian paints price list 2014 pdf
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16-03-2017, 09:23 AM
Asian Paints Limited (BSE: 500820, NSE: ASIANPAINT) is a multinational paint company based in Mumbai, Maharashtra. The company is engaged in the business of manufacturing, selling and distributing paints, coatings, products related to home decoration, bathroom accessories and the provision of related services. Asian Paints is the largest painting corporation in Asia and the third largest in Asia. As of 2015, it has the largest market share with 54.1% in the Indian paint industry. Asian Paints is the holding company of Berger International.
History
The company was installed in a garage in Mumbai by four friends Champaklal Choksey, Chimanlal Choksi, Suryakant Dani and Arvind Vakil in February 1942. During World War II and Quit India Movement of 1942, a temporary ban on paint imports left only To foreign companies and Shalimar Paints in the market. Asian Paints took the market and reported an annual turnover of ₹ 23 crore in 1952, but with a PBT margin of 2%. In 1967 it became the main manufacturer of paints in the country.
The four families together held the majority of the company's shares. But disputes began over global rights in the 1990s when the company expanded beyond India. The disputes resulted in Choksey selling his shares of 13.7% and coming out in 1997. Champaklal died in July 1997 and his son Atul took over. Following the failure of the collaborative talks with the British company Imperial Chemical Industries, Choksey shares were purchased by the rest of the three families and Unit Trust of India. As of 2008, the Choksi, Dani and Vakil families have a 47.81% share.
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