Chairman'sletter

Chairman’s letter
Dear Shareholders, I must acknowledge the tremendous efforts of the entire

In my letter in last year’s Integrated Annual Report, management team at Asian Paints which continued to
I alluded to the challenging times ahead amid economic execute the business plans against the backdrop of a very
uncertainty, multi-decade high inflation, and geopolitical dynamic business environment and made progress on the
tensions. These factors had the potential to dampen priority of driving sustainable growth. Their dedication,
demand across industries and only organisations staying resilience and focus on results helped drive the Company
true to their core vision while seizing the opportunities to forward as we navigated through a challenging external
reinvent themselves, would thrive. environment, excelling the Asian Paints Way.
As we conclude the year and take stock, I am enormously Innovation is the backbone of our Company and the key to
proud of what your Company has achieved in this period. our sustained leadership position and success. As markets
Amidst an uncertain economic and demand environment, evolve, aspirations shift, and customer requirements
we have continued to grow and evolve the business change, our innovation engine keeps churning out new
and your Company has delivered yet another year of value propositions. We continued to bring innovative ideas
stellar performance despite the many challenges. In to life for our consumers all through this year. These new
this journey, we have remained true to the Asian Paints value propositions kept the growth energised and also
Charter of bringing joy to people’s lives, curating dreams, contributed to a substantial part of the topline revenue.
and weaving a pioneering and energising world for The Company has taken a quantum leap in the area of
our customers. services, and we have been able to leverage our Safe
Painting Service to accomplish the dreams of lakhs of
Delivering on the promise of performance customers across the length and breadth of this country.
Against the backdrop of record-high input cost inflation
Our foray in home décor has been performing well.
and demand conditions in the process of normalisation,
We have been able to take the initiative of ‘Beautiful
the agile leadership team at Asian Paints delivered on their
Homes‘ forward - through digital, service, and physical
promise of a strong performance.
stores so that we are able to offer our customers their
dream homes. We have extended our offerings through
our recently formulated partnerships with both White Teak
and Weatherseal - in the decorative and designer lighting
and uPVC windows and door systems space, respectively.
We remain focused on delivering a truly seamless and
interconnected experience to all our customers.
On the international front, we continued to work on

creating unique product and service offerings for our
customers, improving our performance in the process.
We have continued to make big strides in the industrial
coatings segment in India delivering a strong revenue
growth with enhanced profitability for the year.
I must acknowledge the tremendous efforts of
the entire management team at Asian Paints
which continued to execute the business plans
against the backdrop of a very dynamic business
environment and made progress on the priority
of driving sustainable growth."
Committed to sustainability Throughout your Company’s rich legacy, we have seen

Responsible business practices remain at the core of all many changes and overcome several challenges treating
that we do at Asian Paints. Sustainability has long been each challenge as an opportunity to evolve. We have
integrated into our decision-making process across the always emerged stronger and better, always enhancing
board to mitigate risks, maximise opportunities, create the brand ‘Asian Paints’ saliency pushing ourselves to stay
long-lasting operating models, and effect positive relevant to the evolving customer needs.
change thereby creating value for all our stakeholders. This financial year will bring out its own set of unique
In recent years, we have seen a significant increase in challenges, but I firmly believe that the Company is
the inclusion of Environmental, Social, and Governance well‑positioned strategically to continue being the partner
(ESG) aspects in businesses globally as well as in of choice for customers. We will continue to leverage
India. Our key focus has been providing consumers our distinct competitive advantages to capitalise on
with environmentally sustainable products, resource compelling growth opportunities and deliver a unique
conservation and replenishment and taking initiatives value proposition in the market.
on community outreach in the areas of health As we look ahead, your Company is committed to creating
and livelihood. unprecedented value for the customers and ensuring that
Strong corporate governance has been a hallmark of we enrich our leadership by staying ahead in the market
our organisation and we hold ourselves to account to across segments and new forays. I am proud of what we
continuously strengthen this area further. We subject have accomplished together and even more excited about
each and every business process through a stringent what is still to come. Asian Paints remains steadfast in
review procedure and strive to raise the bar. its commitment towards sustained value creation for all
stakeholders. Our future is bright, and the spectrum of
Road ahead possibilities is immense!
The challenges of the past few years have made us

a better and stronger company. We have grown and Warm regards,
evolved across many facets and have now initiated a
slew of strategic steps to further push your Company’s Deepak Satwalekar
performance trajectory. However, a sound strategy Chairman
does not by itself underwrite success. The arduous and
equally important task of putting strategies into action
and thus creating brilliant performances out of bright
ideas demands an organisation that is responsive and
full of energy. Our people and their unbridled passion for
customer-centricity give us an unparalleled competitive
advantage here.

Chairman'sletter

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Chairman'sletter

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Chairman’s letter

Dear Shareholders, I must acknowledge the tremendous efforts of the entire

On the international front, we continued to work on

Committed to sustainability Throughout your Company’s rich legacy, we have seen

The challenges of the past few years have made us

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