Asian Paints Ltd - Company Profile
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Business Description
Asian Paints Ltd (Asian Paints) is a paint manufacturing company. It offers a range of waterproofing and painting solutions for offices and homes. The company serves customers in Asia, the Middle East, South Pacific and Africa through Asian Paints, Berger, SCIB Paints, Causeway, Apco Coatings, Taubmans and Kadisco brands. The company operates through single reportable segment, Paints and Home Decor.
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R&D Overview
The company’s research and development (R&D) activities are focused towards developing new products and processes. It operates three research & technology center and test sites in India. The company has more than 240 scientists in its research and technology center. As of March 2023, the company had 49 granted patents and 10 patents added during the FY2022-23 and filed 25 patents. In FY2022-23, it spent INR1,080 million on R&D, which was 0.3% of its revenue and increased 16.7% YoY. Among its R&D expenditure the company has spent around INR832 million on information technology.
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