Asian Paints has been a cult favourite for Indians for decades. It is one of the leading players in the paint business. It is a multinational paint company with reach in over 15 countries. Asian Paints expertise in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, and providing other services that can transform your house. The man who has held the helm of this massive business is the CEO and MD, Amit Syngle.
Amit Syngle has been associated with Asian Paints for over 29 years and has worked in different sectors across sales, marketing and manufacturing. He was appointed as the CEO and MD on April 1, 2020 for a period of three years.
His first experience with handing the work at Asian Paints factory was in 1999 when he managed a factory with 1000 workers in Greater Noida, Amit mentioned in an exclusive interview with Afaqs.com. The plant was almost on the verge of closing down, due to various factors but Amit took charge and declared a six months lockout. They spend the next two years in revamping the place and making it the most efficient plants.
In comparison to the same quarter in the prior fiscal year, Asian Paints’ consolidated net profit for the June quarter of FY24 was Rs 1,574.84 crore, up by 52%. In comparison to the prior quarter, the company reported a 24% increase in profit. The total income climbed by 4.49 percent from the prior quarter and 6.68 percent from the prior quarter to reach Rs 9,182.31 crore as Business Today reported.
“Our domestic decorative business registered double-digit volume growth and relatively healthy value growth, coming on a high base of the previous year. Both the Auto OE and the General Industrial coating businesses achieved strong double‐digit revenue growth, led by growth in the Protective & Powder Coatings segment,” the CEO stated as per Fortune.
As per Fortune India reports, Asian Paints is ranked among the top 7 companies in the world with a consolidated turnover of Rs 34,489 crores, and a market capital of around Rs 3.4 lakh crore.