ASIAN PAINTS INTRODUCTION

Asian Paints is India's largest and Asia's third largest paint company today, with a turnover of Rs 44.04 billion (around USD 1.1 billion). The company has an enviable reputation in the corporate world for professionalism, fast track growth and building shareholder equity. Asian Paints operates in 20 countries and has 28 paint manufacturing facilities in the world servicing consumers in over 65 countries. Besides Asian Paints, the group operates around the world through its subsidiaries, Berger International Limited, Apco Coatings, SCIB Paints and Taubmans. The history of AP dates back to 1942. It was started by four entrepreneurs, Champaklal Choksey, Chimanlal Choksi, Suryakant Dani andArvind Vakil, as a partnership firm for manufacturing paints. Asian Paints hasthe largest range of colors in the market (e.g. Over 127 shades of green,206 shades of blue, 118 shades of yellow and many others) and the outlet allows the consumer to choose any among a vast range of colors with the help of a computer. Asian Paints is the market leader in the highly fragmented and highly competitive Rs 7750 cr ore ($1.73 Bn) Indian paint Industry. The organized sector constitutes around Rs 5400crore ( $1.2 Bn). Asian Paints operates in 22 countries across the world. It has manufacturing facilities in each of these countries and is the largest paint company in ten overseas markets. Asian Paints operates in five regions across the world viz. South Asia, Southeast Asia, South Pacific, Middle East and Caribbean region through the five corporate brands viz. Asian Paints, Berger International, SCIB Paints, Apco Coatings and Taubmans. In ten markets, it operates through its subsidiary, Berger International Limited; in Egypt through SCIB Paints; in five markets in the South Pacific it operates through Apco Coatings and in Fiji and Samoa it also operates through Taubmans.The countries that Asian Paints has presence are as follows: South Asia : Bangladesh, Nepal, and Sri Lanka South East Asia : China, Malaysia, Singapore and Thailand

Advertising Strategy Suggestions and Recommendations for bringing any necessary changes in the Asian paints The customer today is much more involved with the process of painting and is looking at the whole experience of interior decoration as well as painting as an expression of their personalities. They are buying into a product thats promising self-expression, sophistication, technology and even services. APILs advertising evolve itself to remain continuously relevant to these customers APIL, as a market leader in decorative paint category, upgrade its customers to value-added/ superior-quality/ high-margin products As Asian Paints is already a leader in decorative paints market, it can persuade its customers to value-added/ superior-quality/ high-margin products by formulating and implementing the following strategies Changing Focus: Asian Paints should emphasize more on technology and marketing that would enable them to come up with more revolutionary products that can cater the demand of customers. It hence can implement Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) solutions for streamlining its processes and supply chain. New Product Launches: Asian Paints can launch new products into the market to satisfy the value-added/ superiorquality/ high-margin demanding customers. Launching various new products into the market will also increase its market presence and penetration into the segments where itspresence was small.

 Customer Service Solutions: Asian Paints should realize that distribution and service are the keys tosuccess in the paints industry. Right from the start, apart from the urban markets, Asian Paints should focus on small towns, and on rural markets.

Changing Image: Along with the customer relationship building initiatives, Asian Paints should also focus on its communication and brand strategy. Communication would help the company to reach out to the customer and create an attractive public image. Indian consumers are not brand conscious with regard to paints; usually the painter purchased paintsfor consumers according to the allocated budget. In order to change itsimage Asian Paints need to extensively work to change its image.

COMPANYS PROFILE
Asian Paints is India's largest paint company and ranks among the top ten decorative coatings companies in the world today, with a turnover of Rs.30.2 billion (USD 680 million). It was formed as a partnership firm by four friends in 1942. The company has an enviable reputation in the corporate world for professionalism, fast track growth, and building shareholder equity. Driven by its strong consumer-focus and innovative spirit, the company has been the market leader in paints since 1968. Today it is double the size of any other paint company in India. Asian Paints operates in five regions across the world viz. South Asia, South East Asia, South Pacific, Middle East and Caribbean region through the four corporate brands viz. Asian Paints, Berger International, SCIB Paints and Apco Coatings. Asian Paints has 30 paint manufacturing facilities in 22 countries with a combined total manufacturing capacity of around 370 million liters per annum. The company operates in 10 markets through Berger International Limited and in five markets in the South Pacific through Apco Coatings. In Australia it also owns the Pacific Paints brand, in Fiji & Samoa Islands it also operates through Taubmans, and in 6 countries through Asian Paints. A talent pool of over 4700 employees employed across twenty-three countries brings in a unique blend of mindsets and skills. The Group's principal activities are to manufacture and market paints.

COMPANY TAG LINE

Apex Weatherproof Exterior Emulsion is a water-based 100% acrylic, exterior wall finish. A high performance, long-lasting exterior paint specially formulated to withstand extreme tropical conditions of high rainfall, humidity and heat, Apex provides excellent resistance against the growth of algae and fungi on the walls. It offers excellent protection against alkali and UV degradation too. Premium Emulsion provides a rich and matt finish to interior walls due to its superacrylic quality. Its composition imparts excellent durability to the paint film, giving your walls that just painted. It washable and most stains can be removed easily by sponging with a mild soap solution. The paint film is also fungus and mildew resistant. Apcolite Premium Satin Enamel is a solvent-based finish. Low gloss enamel with the gentle, soothing sheen of Satin fabric, it is just as tough and durable as premium high gloss enamels and gives a long lasting washable finish. It can be used on interior and exterior surfaces. Utsav Royal Tractor emulsion

History of company
The company has come a long way since its small beginnings in 1942. It was set up as a partnership firm by four friends who were willing to take on the world's biggest, most famous paint companies operating in India at that time. Over the course of 25 years, Asian Paints became a corporate force and India's leading paints company. Driven by its strong consumer-focus and innovative spirit, the company has been the market leader in paints since 1968. Today, it is double the size of any other paint company in India. Asian Paints manufactures a wide range of paints for decorative and industrial use Asian Paints was founded in 1942 as a small partnership firm & now is India's largest paint company. It ranks amongst the top ten decorative coatings companies in the world today, with a turnover of Rs.25.6 billion. Asian Paints operates in 22 countries and has 28 paint manufacturing facilities in the world servicing consumers in over 65 countries. Asian Paints product range includes Decorative Paints, Industrial Paints & Automotive Paints. The company has five manufacturing units which are located at Mumbai, Ankleshwar, Patancheru, Kasna and Sriperambdur. Each plant is headed by the Factory Manager. Bhandup plant is the oldest plant with an installed capacity of 30000 Tonnes per anum. All plants are also awarded with ISO 9000 & ISO 14000 certification. Asian paints has won many awards & recognitions which includes rating under 200 best under a billion by Forbes global in 2002, Best small company in India by Asia Money in 2002, Golden peacock national quality award by union labour ministry, Best supply chain award by i2 solutions, Golden peacock environment management award, Five star rating by British safety council in 2003 & 2005.

Major Products and Services Asian Paints manufactures and markets industrial and decorative coatings. Along with that the company also provides home painting services and solutions. The company's key products and brands include the following: Decorative paints: Interior wall paints, Exterior wall paints, Wood surface paints, Metals surface paints.[4] Industrial coatings: Protective coatings, Floor coatings, Road markings. Ancillaries: Wall primer, Acrylic Wall Putty, Exterior Wall Putty, Wood Primer. Asian paints made a foray in automotive paints in the year 1997 with a joint venture with PPG Industries. The joint venture is called PPG Asian paints. The company manufactures body coatings and plastic coatings. Paint brands owned by the company are: Ace & Apex, Apcolite, Apex, Apex Ultima, Asian Paints, Colour Next, Premium Gloss Enamel, Royale, Royale Play, Touchwood, Tractor Emulsion, Utsav.

OBJECTIVE
The learning objective for the industry analysis is to determine the opportunities and threats that exist for firms within a competitive environment. The learning objective for the firm analysis is to determine the strengths and weaknesses of a firm and to determine the core competence that can be built on to establish a competitive advantage. The final step is to develop a sound business plan to ensure the survival of their chosen firm within its competitive environment.

STRATEGIC MANTRAS OF ASIAN PAINTS LIMITED Audacious in vision. Focus on what know best. Trim flab to achieve operational excellence.
Good governance made the business sense Forge stronger partnerships with supplier base.

Pursue quality with zeal.

Innovate to create valu

Asian Paints Limited(APL) is the market leader in the Indian paint industry, commanding a market share of 38 per cent in decorative paints and 33 per cent overall in the organised sector. Its annual sales turnover exceeds Rs. 1,300 crore, way ahead of all the competitors in the industry. In profits too, Asian Paints is far ahead. Asian paints market leadership in the decorative paints segments can be grasped correctly when we take note of the relative position of the various players in the industry. Whereas Asian Paints has a market share of 38 per cent, its nearest rival, Goodlass Nerolac, commands a share of just 14 per cent. All others have only less than 10 per cent. Such an achievement by a company that is wholly Indian in capital, management and technology and in an industry historically dominated by multinationals is certainly a commendable feat

MISSION
To provide paints as per market demand, ensuring desired level and quality of customer (dealer) service, continued availability of the right product mix of right quality at the right time. With a track record of technical innovation and products designed for improved productivity and reduced material usage, Nexa Autocolor implements repairm processes that reduce cycle times and increase profits. Quick and Accurate Colour Matching With over 100 years of experience in the paint industry, Nexa Autocolor satisfies the number one need of the collision center - quick and accurate colour matching - with the right colour, the first time, every time. High-Quality, High-Performance Products The Nexa Autocolor 2K Product System is a complete line of high-quality products designed to bring profit to a collision center. Simple and easy-to-use, it delivers fast processes, reduced material consumption and outstanding results, every time.

VISION
Asian Paints aims to become one of the top five Decorative coatings companies worldwide by leveraging its expertise in the higher growth emerging markets. Simultaneously, the company intends to build long term value in the Industrial coatings business through alliances with established global partners. Asian Paints aims to become one of the top five Decorative coatings companies world-wide by leveraging its expertise in the higher growth emerging markets. Simultaneously, the company intends to build long term value in the Industrial coatings business through alliances with established global partners.

ACHIEVEMENTS
Use of TAGUCHI Screening Techniques for Gloss Optimization of Appliance Powder

Coatings: 1st Prize in Research section Modeling of Molecular Weight of Acrylic Resins using Full Factorial Techniques: 3rd Prize in Research section Self Polishing Coatings : 3rd Prize in Review section Asian Paints was included in Forbes Magazine's - Asia's Fab 50 List of companies in 2011 and 2012. Asian Paints was ranked 13th amongst the top paint companies in the world by Coatings World - Top Companies Report 2012 (July 2012 Issue). In March 2012, Asian Paints was presented the Asian Centre for Corporate Governance & Sustainability Award for the Best Governed Company in 2011. Mr. P M Murty, the then MD & CEO, Asian Paints received the 'CEO of the Year' award from Business Standard, one of India's leading business dailies (March 2011). Asian Paints receives the Best Audit Committee Award from the Asian Centre for Corporate Governance & Sustainability (Feb 2011). Awarded the "Sword of Honour" by the British Safety Council for all the paint plants in India. This award is considered as the pinnacle of achievement in safety across the world. Forbes Global Magazine, USA ranked Asian Paints amongst the 200 'Best Small Companies of the world' in 2002 and 2003 and amongst the top 200 'Under a Billion Firms' of Asia in 2005. The Asset - one of Asia's leading financial magazines ranked Asian Paints amongst the leading Indian companies in Corporate Governance in 2002 and 2005. Asian Paints received the Ernst & Young Entrepreneur of the Year Manufacturing award in 2003.

Management - Asian Paints

Name Ashwin Choksi K B S Anand Mahendra Choksi Ina Dani Mahendra Shah R A Shah S Ramadorai Name Ashwin Dani Abhay Vakil Amar Vakil Dipankar Basu Deepak Satwalekar S Sivaram M K Sharma Designation Chairman Managing Director & CEO Director Director Director Director Director Designation Vice Chairman Director Director Director Director Director Additional Director

Balance sheet

Particular
Source of Funds Share Capital Reserves & Surplus Shareholders Funds Secured Loans Unsecured Loans Total Debt Total Liabilities Application of Funds Fixed Assets Gross Block Less : Accumulated Depreciation Provision for impairment of Assets Net Fixed Assets Capital Work In Progress Total Fixed Assets Investments Current Assets Inventories Sundry Debtors Cash & Bank Balances Loans & Advances Total Current Assets Current Liabilities & Provisions Current Liabilities Provisions Total Current Liabilities & Provision Net Current Assets Miscellaneous Expenditure written off Total Assets

201103

201003

200903

200803

200703

95.92 1879.40 1975.32 23.43 41.43 64.86 2040.18

95.92 1461.30 1557.22 25.59 43.00 68.59 1625.81

95.92 998.55 1094.47 24.59 49.94 74.53 1169.00

95.92 832.58 928.50 36.70 58.00 94.70 1023.20

95.92 648.16 744.08 66.90 58.77 125.67 869.75

1611.22 543.78 10.25 1057.19 39.67 1096.86 1034.76

1194.39 473.65 13.28 707.46 380.72 1088.18 703.69

1116.93 466.82 27.20 622.91 88.86 711.77 234.77

937.89 469.41 39.65 428.83 110.39 539.22 422.88

806.20 430.92 40.37 334.91 11.62 346.53 334.39

1071.76 366.68 20.47 2076.45 3535.36

763.14 331.43 28.60 1678.86 2802.03

546.71 311.02 128.26 1397.24 2383.23

538.97 251.90 41.35 1199.07 2031.29

434.07 235.96 42.49 146.71 859.23

1407.73 2143.57 3551.30 -15.94 0.00 2040.18

1156.27 1763.92 2920.19 -118.16 0.00 1625.81

771.90 1340.96 2112.86 270.37 0.00 1169.00

784.56 1154.11 1938.67 92.62 0.00 1023.20

594.10 54.15 648.25 210.98 0.00 869.75

Asian Paints Profit And Loss Statement

Mar '12 12 mths Income Sales Turnover Excise Duty Net Sales Other Income Stock Adjustments Total Income Expenditure Raw Materials Power & Fuel Cost Employee Cost Other Manufacturing Expenses Selling and Admin Expenses Miscellaneous Expenses Preoperative Exp Capitalised Total Expenses 10,875.1 7 873.07 10,002.1 0 68.83 206.25 10,277.1 8

Mar '11 12 mths

Mar '10 12 mths

Mar '09 12 mths

Mar '08 12 mths

8,671.1 3 673.12 7,998.0 1 79.62 169.33 8,246.9 6 4,653.9 3 74.56 455.88 76.88 1,504.1 0 83.85 0 6,849.2 0 Mar '11 12 mths

7,393.3 0 449 6,944.3 0 137.03 124.9 7,206.2 3 3,882.4 7 56.48 438.17 54.92 1,306.6 8 92.23 0 5,830.9 5 Mar '10 12 mths

6,301.4 6 561.81 5,739.6 5 22.09 -12.69 5,749.0 5 3,403.1 9 54.01 372.39 44.03 1,082.3 4 70.67 0 5,026.6 3 Mar '09 12 mths

5,123.52 532.68 4,590.84 51.86 37.02 4,679.72

5,977.01 84.74 527.85 97.16 1,879.41 97.65 0 8,663.82 Mar '12 12 mths

2,638.09 41.23 307.53 35.24 866.06 73.45 0 3,961.60 Mar '08 12 mths

Operating Profit PBDIT Interest PBDT Depreciation Other Written Off

1,544.53 1,613.36 38.15 1,575.21 121.13 0

1,318.1 4 1,397.7 6 25 1,372.7 6 113.13 0

1,238.2 5 1,375.2 8 36.75 1,338.5 3 83.56 0

700.33 722.42 32.46 689.96 74.38 0

666.26 718.12 26.37 691.75 59.17 0

Profit Before Tax Extra-ordinary items PBT (Post Extra-ord Items) Tax Reported Net Profit Minority Interest Share Of P/L Of Associates Net P/L After Minority Interest & Share Of Associates Total Value Addition Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualised) Shares in issue (lakhs) Earning Per Share (Rs) Equity Dividend (%) Book Value (Rs)

1,454.08 1.96 1,456.04 435.46 1,020.58 31.85 0 986.77 2,686.81 0 383.69 62.24 959.2 106.4 0 286.54

1,259.6 3 5.37 1,265.0 0 383.65 881.35 38.11 0 837.87 2,195.2 7 0 306.94 50.11 959.2 91.88 0 228.05

1,254.9 7 7.66 1,262.6 3 378.72 883.91 48.27 0 826.83 1,948.4 8 0 258.98 43.33 959.2 92.15 0 178.27

615.58 6.92 622.5 203.02 419.48 21.64 0 392.16 1,623.4 4 0 167.86 28.88 959.2 43.73 0 125.44

632.58 -2.75 629.83 201.78 428.05 18.87 0 418.77 1,323.51 0 163.05 27.72 959.2 44.63 0 102.42

Asian Paints Share Holding Pattern

Particular
Promoter Holding Indian Promoters Foreign Promoters Non-Promoter holdings (Other than Public) Financial Institutions/Banks FII/Foreign Fin Inst/Foreign Banks Corporate Bodies 7068699 17206834 5395906 7.37 17.94 5.63 50636679 0 52.79 0.00

No.Of Shares

Percent Shares(%)

Government Holdings OCB NRI Mutual Funds Other Foreign Holdings General Public Individual Holding Upto Rs. 1 lakh Individual Holding Excess of Rs. 1 lakh Others Total

0 0 0 1223023 1539037

0.00 0.00 0.00 1.28 1.60

11961807 887794 0 95919779

12.47 0.93 0.00 100.01

Products & Services Unit Product Name Paints/Enamels/Varnish.& Black Traded Goods Others Processing Charges Revenue from Home % of Stock % Cap. Util. 0.0 0.0 0.0 0.0 0.0 Inst. Sales Prod. Prodn Qty Cap 0 0 0 0 0 0 0 0 0 0 Sales (Cr.) Sales (Rs.) / Unit -

MT NA NA NA NA

95.4 2.6 1.4 0.4 0.2

0 8,702.30 0 0 0 0 232.68 129.31 34.64 15.17

Solutions Other Operating Revenues Resins-Synthetic Unspecified Lease Rent Pentaerythritol Formaldehyde Sodium Formate Maleic Acid Phthalic Anhydride

NA MT NA NA MT MT MT MT MT

0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0

4.82 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

SWOT ANALYSIS
Strength. The largest paint company in India and third largest company in Asia 2. They have over 50% of market share and are clear leaders decorative paints and are strong competitors to Kansai Nerolac to be leaders in Industrial paints and coatings. 3. They operate in 17 countries and have 24 manufacturing facilities providing service to 65 countries all over the world.

4. Asian paints has strong international presence with its four 4 subsidiaries; Berger International Limited, Apco Coatings, SCIB Paints and Taubmans. 5. Most renowned brand in Indian Paint Industry & its strong customer focus and innovativespirit has made it market leader since 1968. 6. Superior technologies deployed to achieve maintain the competitive edge for eg. Supply chain management system that integrates plants, regional distribution centers, outside processing centers etc. hence they have strongest supply chain system with 7. They have maintained their brand name and increased awareness by unique ways of advertising and roping in celebrities like Saif Ali Khan. 8. The company has strong financials.

WEAKNESS 1. Limited market share in industrial paints segment with Kansai Nerolac and Akzonobel giving stiff competition. 2. In decorative paints Industry Customer tastes and perceptions change very fast and products may become obsolete with change in trends, hence production planning and inventory problem. Opportunity

1. Limited market share in industrial paints segment with Kansai Nerolac and Akzonobel giving stiff competition. 2. In decorative paints Industry Customer tastes and perceptions change very fast and products may become obsolete with change in trends, hence production planning and inventory problem. Opportunity 1. Big an international standard paint company it should look for more opportunities abroad 2. There is a good scope for growth especially in industrial paints category 3. Needs to have more focus on Automobile industry in industrial paints segment 4. Competitors are going for Hi-tech process and Asian paints with good financial and intellectual capital can go for hi-tech.

Threats 1. Growth prone to slowdown effects 2. Stringent Government rules and regulations regarding the quality of products and manufacturing facilities as Environment policies are given more emphasis 3.Raw material scarcity and volatlility in prices. Competitors

1. Jenson & Nicolson India Limited. 2. Kansai Nerolac 3.Akzonobel 4. Sherwin-Williams Co. 5. Nippon Paints Co.

DATA INTERPRETATION Dividends Declared

Announcement Date 09-05-13 04-10-12 08-05-12 Effective Date Dividend Type Dividend (%) Remarks

06-06-13 29-10-12 07-06-12

Final Interim Final

365.00 95.00 305.00

Rs.36.5000 per share(365%)Final Dividend Rs.9.5000 per share(95%)Interim Dividend -

03-10-11 10-05-11 12-10-10 28-05-10 30-09-09 12-05-09 07-10-08 09-05-08

25-10-11 09-06-11 29-10-10 30-06-10 26-10-09 17-06-09 29-10-08 12-06-08

Interim Final Interim Final Interim Final Interim Final

95.00 235.00 85.00 185.00 85.00 110.00 65.00 105.00

PROFIT
Mar '12 12 mths 10,875.17 873.07 10,002.10 68.83 206.25 10,277.18 5,977.01 84.74 527.85 Mar '11 12 mths 8,671.13 673.12 7,998.01 79.62 169.33 8,246.96 4,653.93 74.56 455.88

97.16 1,879.41 97.65 0 8,663.82 Mar '12 12 mths 1,544.53 1,613.36 38.15 1,575.21 121.13 0 1,454.08 1.96 1,456.04 435.46 1,020.58 31.85 986.77 2,686.81 0 383.69 62.24 959.2 106.4 0 286.54

76.88 1,504.10 83.85 0 6,849.20 Mar '11 12 mths 1,318.14 1,397.76 25 1,372.76 113.13 0 1,259.63 5.37 1,265.00 383.65 881.35 38.11 837.87 2,195.27 0 306.94 50.11 959.2 91.88 0 228.05

Assets
Net Current Assets Miscellaneou s Expenses Total Assets 277.44 0 -119.82 0 -168.36 0 137.44 0 17.94 0

2,656.00 2,039.45 1,623.51 1,159.76 1,005.90

EPS (Rs crore) Mar ' Mar ' Mar ' Mar ' Mar '

12 Per share ratios Adjusted EPS (Rs) Adjusted cash EPS (Rs) Reported EPS (Rs) Reported cash EPS (Rs) Dividend per share Operating profit per share (Rs) Book value (excl rev res) per share EPS (Rs) Book value (incl rev res) per share EPS (Rs) Net operating income per share EPS (Rs) Free reserves per share EPS (Rs) Profitability ratios Operating margin (%) Gross profit margin (%) Net profit margin (%) Adjusted cash margin (%) Adjusted return on net worth (%) Reported return on net worth (%) Return on long term funds (%) Leverage ratios Long term debt / Equity Total debt/equity Owners fund as % of total source Fixed assets turnover ratio Liquidity ratios Current ratio Current ratio (inc. st loans) Quick ratio Inventory turnover ratio Payout ratios Dividend payout ratio (net profit) Dividend payout ratio (cash profit) Earning retention ratio Cash earnings retention ratio Coverage ratios Adjusted cash flow time total debt Financial charges coverage ratio Fin. charges cov.ratio (post tax) Component ratios 99.34 109.72 99.92 110.29 40 145.94 259.36 259.36 868.13 249.31 16.81 15.61 11.38 12.5 38.3 38.52 54.51 0.02 0.06 93.66 3.55 1.12 1.07 0.56 7.56 46.52 42.15 53.21 57.63 0.15 53.34 38.94

11 80.11 89.96 80.81 90.66 32 121.07 205.93 205.93 688.7 195.88 17.57 16.14 11.61 12.92 38.9 39.24 55.79 0.03 0.03 96.85 4.25 0.93 0.93 0.34 7.08 46.06 41.05 53.54 58.63 0.07 75.34 54.22

10 69.47 75.8 80.74 87.08 27 107.69 162.35 162.35 559.61 152.29 19.24 18.11 14.29 13.42 42.79 49.73 62.95 0.04 0.04 95.91 4.68 0.89 0.88 0.37 7.95 39.03 36.19 54.64 58.43 0.09 56.68 44.73

09 38.63 44.59 37.78 43.74 17.5 61.92 114.1 114.1 470.2 104.05 13.16 11.9 7.97 9.4 33.85 33.1 49.35 0.05 0.05 94.37 4.17 1.13 1.13 0.58 9.8 54.19 46.81 47 54.09 0.15 39.57 27.37

08 39.25 43.82 39.12 43.68 17 59.37 96.8 96.8 374.85 86.75 15.83 14.62 10.28 11.52 40.55 40.4 58.11 0.06 0.08 92.3 3.97 1.02 0.99 0.47 8.03 50.84 45.53 49.34 54.61 0.18 46.09 32.13

Material cost component (% earnings) Selling cost Component Exports as percent of total sales Import comp. in raw mat. consumed Long term assets / total Assets Bonus component in equity capital (%)

58.44 17.11 0.5 25.57 0.46 97.98

57.71 17.08 0.66 23.86 0.54 97.98

55.26 17.51 0.64 20.74 0.56 97.98

58.55 17.27 0.64 19.49 0.45 97.98

55.71 17.98 0.67 21.04 0.47 97.98

CONCLUSION
An independent survey named Asian paints to be one of the best companies in Asia in paint industry and other. Business today showed that the company was one of the most transparent and a leader on the issue of innovative methods. Excellent management system effective operational management good number of suppliers and distributors. Lots of awards no.1 Paint Company in paint industry playing leader role in paint industry. giving more impotence for human power. Highly innovated in technology.

BIBLIOGRAPHY
www.google.co.in www.rediffmoney.com www.wikipedia.com www.moneycontrol.com