asian paints lt1

Asian Paints Ltd.

Industry

: Paints/VarnishesBSE Code : 500820 NSE Code: ASIANPAINTEQ

The Profile page of the company captures the details in brief on Company's Address, Top management, Listings, Latest financial results in detail.

Registered Office

6 A, Shantinagar, Santacruz (East), , Mumbai, Maharashtra - 400055

Tel: 39818000, , , Fax: 39818888, Email: [email protected] Website: www.asianpaints.com

Registrar & Share Transfer Agent

Sharepro Services Ltd. Satam Estate, 3rd Floor, Cardinal Gracious Road, Above Bank Of Baroda, Mumbai - 400099, Maharashtra.

Tel: 28215168, 28329828, 28215991, 28347719

Key Officials

Name Designation

Ashwin Choksi Chairman / Chair Person

Abhay Vakil Managing Director

Jayesh Merchant CFO & Company Secretary & Compl.Officer

Other Details

Business Group Listings ISIN Code IncorporationPublic Issue

DateChoksi Group BSE , NSE INE021A01018 -- --

Recent News And Analysis

Headline Date

Asian Paints - Results Press Release 10/25/2008

Asian Paints Board declares interim dividend 10/25/2008

Asian Paints Board declares interim dividend 10/25/2008

Asian Paints announces Consolidated Q2 results 10/25/2008

Asian Paints announces Q2 results 10/25/2008

more...

Asian Paints Ltd.Industry : Paints/Varnishes

BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the latest three shareholding patterns for the company under two broad categories (Promoter & Non Promters)

Shareholding as on : 30/09/2008 30/06/2008 31/03/2008

Face Value 10.00 10.00 10.00

No. Of Shares

% Holding

No. Of Shares

% Holding

No. Of Shares

% Holding

PROMOTER'S HOLDING

http://www.smcindiaonline.com/smc/fundamental/companyNews.asp?Companycode=11580001&CompanyName=Asian%20Paints%20Ltd.&MajorSector=1&Ticker=Asian%20Paints

http://www.asianpaints.com/

mailto:[email protected]

Indian Promoters 48099230 50.15 47466930 49.49 47454162 49.47

Sub Total 48099230 50.15 47466930 49.49 47454162 49.47

NON PROMOTER'S HOLDING

Institutional Investors

Mutual Funds and UTI 1393327 1.45 1444892 1.51 1876625 1.96Banks Fin. Inst. and Insurance

10197218 10.63 10081864 10.51 8696979 9.07

FII's 14636787 15.26 14478790 15.09 14430168 15.04

Sub Total 26227332 27.34 26005546 27.11 25003772 26.07

Other Investors

Private Corporate Bodies 5926424 6.18 6100639 6.36 6814169 7.10NRI's/OCB's/Foreign Others

1872699 1.95 1895605 1.98 1944112 2.03

Others 3028 0.00 0 0.00 0 0.00

Sub Total 7802151 8.13 7996244 8.34 8758281 9.13

General Public 13791066 14.38 14451059 15.07 14703564 15.33

GRAND TOTAL 95919779 100.00 95919779 100.00 95919779 100.00


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view latest Board of Directors of the company.

S.No Name Designation

1 Mr. Ashwin Choksi Chairman / Chair Person

2 Mr. Mahendra Shah Director

3 Mr. Dipankar Basu Director

4 Mr. Deepak Satwalekar Director

5 Mr. Hasit Dani Director

6 Mr. Mahendra Choksi Director

7 Ms. Tarjani Vakil Director

8 Mr. R A Shah Director

9 Mr. Amar Vakil Director

10 Dr. S Sivaram Director

11 Mr. Abhay Vakil Managing Director

12 Mr. Ashwin Dani Vice Chairman & Mng.Director


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view latest Key Executives of the company.

S.No Name Designation

1 Mr.Jayesh Merchant CFO & Company Secretary & Compl.Officer


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the entire list of various company locations such as Registered office, Plants, etc with details

S.No.

Location Type Address

1 Registered Office

6 A, Shantinagar Santacruz (East) Mumbai , Maharashtra - IndiaPinCode :400055Phone :39818000,,,Fax :39818888,

2Investor Service Centre

Das Chambers 25, Dalal Street 1st Floor Mumbai , Maharashtra - IndiaPinCode :400023Phone :22670516,,,Fax :22674570,

3 Factory/plant

SIPCOT Industrial Park Plot No. E6 - F13 Sriperumbudur Kancheepuram Dist. , Tamil Nadu - IndiaPinCode :602105Phone :,,,Fax :,

4 Factory/plant

Pthalic Plant: Plot No. 2702 GIDC Industrial Area Ankleshwar , Gujarat - IndiaPinCode :393002Phone :,,,Fax :,

5 Factory/plant

Taloja Plant: Plot No. 3/2, MIDC, Taloja, Raigad , Maharashtra - IndiaPinCode :410208Phone :,,,Fax :,

6 Factory/plant

Plot No 50-55 Industrial Development Area Phase II, Patancheru Patancheru , Andhra Pradesh - IndiaPinCode :502309Phone :,,,Fax :,

7 Factory/plant

Lal Bahadur Shastri Marg Bhandup Mumbai , Maharashtra - IndiaPinCode :400078Phone :,,,Fax :,

8 Factory/plant

A-1 UPSIDC Industrial Area Kasna-II Kasna Village Tehsil Sikandarabad Bulandshahar Dist , Uttar Pradesh - IndiaPinCode :203207Phone :,,,Fax :,

9 Factory/plant

Plot No 2602 GIDC Industrial Area Ankleshwar , Gujarat - IndiaPinCode :393002Phone :,,,Fax :,

10 Factory/plant

Penta Plant B5-B10 Sipcot Industrial Complex Cuddalore , Tamil Nadu - IndiaPinCode :607005Phone :,,,Fax :,

11 Divisonal Office

Penta Division Office TNF Estate 1/103 P H Road Chennai (Madras) , Tamil Nadu - IndiaPinCode :600066Phone :,,,Fax :,

12 Corporate Office Plot No. 5, Galwadi industrial Estate S V Road Goregaon Mumbai , Maharashtra - IndiaPinCode :400062

Phone :22024544,28751228,1232,Fax :28744777,


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the break up of the capital of the company

From Year

To Year Class Of Share

Authorised Capital(Rs.Cr)

Issued Capital(Rs.Cr)

Paid Up Shares in (Nos)

Paid Up Face Value

Paid Up Capital(Rs.Cr)

2007 2008 Equity Share 99.50 95.92 95919779 10.00 95.92

2006 2007 Equity Share 99.50 95.92 95919779 10.00 95.92

2005 2006 Equity Share 99.50 95.92 95919779 10.00 95.92

2004 2005 Equity Share 99.50 95.92 95919779 10.00 95.92

2003 2004 Equity Share 99.50 95.92 95919779 10.00 95.92

2002 2003 Equity Share 99.50 64.19 64185952 10.00 64.19

2001 2002 Equity Share 99.50 64.19 64185952 10.00 64.19

2000 2001 Equity Share 99.50 64.19 64185952 10.00 64.19

1994 1995 Equity Share 34.50 19.91 19911110 10.00 19.91

1993 1994 Equity Share 34.50 19.91 19911110 10.00 19.91

1992 1993 Equity Share 34.50 19.91 19911110 10.00 19.91

1990 1992 Equity Share 19.50 12.44 12444444 10.00 12.44

1987 1990 Equity Share 19.50 12.44 12444444 10.00 12.44

1985 1987 Equity Share 9.50 8.30 8296296 10.00 8.30

1984 1985 Equity Share 7.50 5.19 5185185 10.00 5.19

1983 1984 Equity Share 7.50 5.19 5185185 10.00 5.19

1980 1983 Equity Share 2.50 2.50 250000 100.00 2.50

1978 1980 Equity Share 2.50 2.50 250000 100.00 2.50

1975 1978 Equity Share 2.50 1.50 150000 100.00 1.50


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the entire product mix with Product names, Sales quantity & Value along with percentage contribution from each individual product.

Product Name Year MonthSales

QuantityUOM

Sales Value (Cr.)

Product Mix

Paints, Enamels, Varnishes & Black

2008 12 433318Metric Tonnes

3906.22 95.67

Phthalic Anhydride 2008 12 12783Metric Tonnes

86.59 2.12

Others 2008 12 0 32.19 0.78

Penta Erythritol 2008 12 2642Metric Tonnes

27.30 0.66

Processing Charges 2008 12 0 12.38 0.30

Other Services 2008 12 0 9.79 0.23

Sodium Formate 2008 12 3166Metric Tonnes

6.42 0.15

Formaldehyde 2008 12 368Metric Tonnes

1.21 0.02

Lease Rentals 2008 12 0 0.59 0.01


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the entire Raw material mix with Raw material names, quantity & Value along with percentage contribution from each individual raw material.

Product NameYear/Month

Sales Quantity

UOMSales Value

(Cr.)Product

MixPigments, Extenders & Minerals

0803 207,832Metric Tonnes

501.10 31.44

Solvents 0803 65,828 Kilolitres 241.93 15.18

Additives 0803 26,062Metric Tonnes

220.12 13.81

Oils 0803 29,239Metric Tonnes

150.58 9.44

Resins 0803 26,105Metric Tonnes

135.70 8.51

Orthoxylene 0803 27,487Metric Tonnes

133.92 8.40

Monomers 0803 13,750Metric Tonnes

107.78 6.76

Others 0803 19,617Metric Tonnes

80.75 5.06

Methanol 0803 7,386Metric Tonnes

14.33 0.89

Acetaldehyde 0803 1,990Metric Tonnes

7.46 0.46

Solvents 0803 7,562Metric Tonnes

0.00 0.00

Bankers / AuditorAsian Paints Ltd.

Industry : Paints/VarnishesBSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the Bankers, Auditors,Registrars names and their addresses

Bankers Not Reported

Auditors Shah & Co. BSR & Associates

Registrar Sharepro Services Ltd. Sharepro Services Ltd.

Announcements

Asian Paints Ltd.

Industry

: Paints/VarnishesBSE Code : 500820NSE Code: ASIANPAINTEQ

http://www.smcindiaonline.com/smc/fundamental/Bankers.asp?companycode=11580001&companyname=Asian+Paints+Ltd.&ticker=Asian+Paints&majorsector=1&industryname=Paints%2FVarnishes&bsecode=500820&nsecode=ASIANPAINTEQ

You can view Purticular company's Board Meetings and AGM/EGM Details.

Board Meetings

Date of Meeting Purpose

24/10/2008 Quarterly Results & Interim Dividend

22/07/2008 Quarterly Results

09/05/2008 Audited Results & Final Dividend


19/10/2007 Quarterly Results & Interim Dividend


10/05/2007 Audited Results & Final Dividend

13/03/2007 Second Interim Dividend


30/10/2006 Qtr, Half Yearly Results & Int. Dividend


10/05/2006 Accounts & Final Dividend


26/10/2005 Interim Dividend & Quarterly Results



11/05/2005 Accounts & Dividend

30/03/2005 Change of name of the Company


03/12/2004 Others



11/05/2004 Final Dividend & Accounts




28/05/2003 Accounts, Bonus issue & Final Dividend


AGM/EGM

Announcement

Purpose

Date FromDate ToDate Remarks

09/05/2008 AGM 24/06/2008 14/06/2008 24/06/2008 105% Final Dividend


10/05/2006 AGM 26/06/2006 19/06/2006 26/06/200655% Final Dividend & 25% Special Dividend



28/05/2003 AGM 18/07/2003 11/07/2003 18/07/2003 Bookclsoure

Latest results….


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the latest 5 yearly unaudited results.

(Rs in Cr.)

Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05 Mar ' 04

Sales 3,416.16 2,821.29 2,319.16 1,941.52 1,742.46Other Income 62.58 40.45 35.93 31.61 21.68Stock Adjustment -33.99 -52.02 0.51 -70.20 -3.51Raw Material 1,934.06 1,712.73 1,351.22 1,185.61 993.47Power And Fuel 0.00 0.00 0.00 0.00 Employee Expenses 194.67 154.96 128.98 117.93 101.56Excise 0.00 0.00 0.00 0.00 Admin And Selling Expenses 0.00 0.00 0.00 0.00 Research And Devlopment Expenses 0.00 0.00 0.00 0.00 Expenses Capitalised 0.00 0.00 0.00 0.00 Other Expeses 767.41 583.87 486.52 414.41 381.40Provisions Made 0.00 0.00 0.00 0.00 Operating Profit 554.01 421.76 351.92 293.78 269.54Interest 8.27 6.87 3.83 2.75 5.27Gross Profit 608.32 455.33 384.02 322.64 285.95Depreciation 43.77 45.42 45.53 47.61 48.01Taxation 186.66 139.99 117.08 96.98 83.55Net Profit / Loss 377.89 269.93 187.81 173.82 147.58Extra Ordinary Item 0.00 0.00 -33.60 -4.23 -6.81Prior Year Adjustments -2.69 2.12 -1.03 -0.33 0.21 Equity Capital 95.92 95.92 95.92 95.92 95.92Equity Dividend Rate 0.00 0.00 45.00 95.00 50.00Agg.Of Non-Prom. Shares (in Lacs) 484.66 500.49 506.18 548.08 547.83Agg.Of Non PromotoHolding(%) 50.53 52.18 52.77 57.14 57.11OPM(%) 16.21 14.94 15.17 15.13 15.46GPM(%) 17.48 15.91 16.30 16.35 16.20NPM(%) 10.86 9.43 7.97 8.80 8.36EPS (in Rs.) 39.40 28.14 19.58 18.12 15.39

Balance sheet


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view Balance Sheet for the last 5 years.

(Rs in Cr.)

Mar ' 08 Mar '

07 Mar '

06 Mar '

05 Mar '

04

SOURCES OF FUNDS

Owner's Fund Equity Share Capital 95.92 95.92 95.92 95.92 95.92Share Application Money 0.00 0.00 0.00 0.00 0.00Preference Share Capital 0.00 0.00 0.00 0.00 0.00Reserves & Surplus 832.58 648.16 526.36 476.30 435.62Loan Funds Secured Loans 36.70 66.90 31.88 28.37 22.92Unsecured Loans 40.70 40.70 40.70 36.68 28.54Total 1,005.90 851.68 694.86 637.27 583.00

USES OF FUNDS Fixed Assets Gross Block 937.89 806.20 736.14 712.70 651.19Less : Revaluation Reserve 0.00 0.00 0.00 0.00 0.00Less : Accumulated Depreciation 509.06 471.29 435.71 401.47 310.65Net Block 428.83 334.91 300.43 311.23 340.54Capital Work-in-progress 136.25 16.31 5.87 12.53 9.92 Investments 422.88 334.39 274.55 258.43 242.48 Net Current Assets Current Assets, Loans & Advances 1,035.22 869.21 686.15 597.47 464.62Less : Current Liabilities & Provisions 1,017.28 703.15 596.40 542.38 474.56Total Net Current Assets 17.94 166.06 89.75 55.08 -9.94Miscellaneous expenses not written 0.00 0.00 24.26 0.00 0.00Total 1,005.90 851.67 694.86 637.27 583.00Note : Book Value of Unquoted Investments 345.50 257.01 197.17 163.91 161.10Market Value of Quoted Investments 254.26 183.02 158.25 92.50 74.81Contingent liabilities 222.05 180.22 187.26 148.83 170.76Number of Equity shares outstanding (in Lacs)

959.20 959.20 959.20 959.20 959.20

P & L


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the Income statement for the last 5 years.

(Rs in Cr.)

Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05 Mar ' 04

Income :

Operating Income 3,595.53 2,953.38 2,447.78 2,052.28 1,800.63 Expenditure Material Consumed 1,969.47 1,661.78 1,365.30 1,125.40 955.34Manufacturing Expenses 75.12 64.82 53.05 49.34 47.96Personnel Expenses 195.54 155.60 129.43 118.35 101.87Selling Expenses 646.58 508.88 423.76 352.83 319.02Adminstrative Expenses 139.33 126.00 110.20 101.62 100.45Expenses Capitalised 0.00 0.00 0.00 0.00 0.00 Cost Of Sales 3,026.04 2,517.09 2,081.74 1,747.55 1,524.64 Operating Profit 569.49 436.29 366.04 304.73 276.00 Other Recurring Income 50.93 32.32 25.12 21.50 13.12 Adjusted PBDIT 620.42 468.61 391.16 326.23 289.12 Financial Expenses 13.46 15.34 8.16 6.58 8.70Depreciation 43.77 45.42 45.53 47.61 48.01Other Write offs 0.00 0.00 0.00 2.29 0.00 Adjusted PBT 563.19 407.86 337.47 269.76 232.41 Tax Charges 186.66 139.99 117.08 96.98 83.55

Adjusted PAT 376.53 267.86 220.39 172.77 148.85Non Recurring Items 1.36 2.06 -34.52 1.04 -6.03Other Non Cash adjustments -2.69 2.12 0.91 -0.33 4.96 Reported Net Profit 375.20 272.05 187.81 173.48 147.79 Earnigs Before Appropriation 525.20 382.05 286.78 255.48 220.63 Equity Dividend 163.06 124.70 119.90 91.13 81.53Preference Dividend 0.00 0.00 0.00 0.00 0.00Dividend Tax 27.72 17.77 16.82 12.54 10.45Retained Earnings 334.42 239.58 150.06 151.82 128.65

Ratio


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the most widely used ratios such as Per share, Profitability, Leverage, Liquidity, Coverage ratios etc. Besides the ratios can be viewed for a period of 5 years

Mar '

08 Mar '

07 Mar '

06 Mar '

05 Mar '

04

PER SHARE RATIOS

Adjusted E P S (Rs.) 39.25 27.93 22.98 18.01 15.52Adjusted Cash EPS (Rs.) 43.82 32.66 27.72 23.21 20.52Reported EPS (Rs.) 39.12 28.36 19.58 18.09 15.41Reported Cash EPS (Rs.) 43.68 33.10 24.33 23.29 20.41Dividend Per Share 17.00 13.00 12.50 9.50 8.50Operating Profit Per Share (Rs.) 59.37 45.48 38.16 31.77 28.77Book Value (Excl Rev Res) Per Share (Rs.) 96.80 77.57 62.35 59.66 55.42Book Value (Incl Rev Res) Per Share (Rs.) 96.80 77.57 62.35 59.66 55.42Net Operating Income Per Share (Rs.) 374.85 307.90 255.19 213.96 187.72Free Reserves Per Share (Rs.) 86.75 67.52 52.29 49.60 44.92 PROFITABILITY RATIOS Operating Margin (%) 15.83 14.77 14.95 14.84 15.32Gross Profit Margin (%) 14.62 13.23 13.09 12.52 12.66Net Profit Margin (%) 10.28 9.11 7.59 8.36 8.14Adjusted Cash Margin (%) 11.52 10.49 10.75 10.73 10.85Adjusted Return On Net Worth (%) 40.55 35.99 36.85 30.19 28.00Reported Return On Net Worth (%) 40.40 36.56 31.40 30.31 27.80Return On long Term Funds (%) 58.11 52.70 51.08 44.60 42.01 LEVERAGE RATIOS Long Term Debt / Equity 0.06 0.07 0.08 0.08 0.07Total Debt/Equity 0.08 0.14 0.11 0.11 0.09Owners fund as % of total Source 92.30 87.36 89.55 89.79 91.17Fixed Assets Turnover Ratio 3.97 3.81 3.46 2.99 2.88 LIQUIDITY RATIOS Current Ratio 1.02 1.24 1.15 1.10 0.97

Current Ratio (Inc. ST Loans) 0.99 1.09 1.08 1.03 0.92Quick Ratio 0.47 0.59 0.55 0.47 0.51Inventory Turnover Ratio 8.03 8.27 8.80 8.00 10.82 PAYOUT RATIOS Dividend payout Ratio (Net Profit) 50.84 52.36 72.79 59.75 62.23Dividend payout Ratio (Cash Profit) 45.53 44.87 58.59 46.40 46.97Earning Retention Ratio 49.34 46.82 37.97 40.01 38.21Cash Earnings Retention Ratio 54.61 54.53 48.59 53.45 53.28 COVERAGE RATIOS Adjusted Cash Flow Time Total Debt 0.18 0.34 0.27 0.29 0.26Financial Charges Coverage Ratio 46.09 30.56 47.92 49.60 33.23Fin. Charges Cov.Ratio (Post Tax) 32.13 21.70 29.59 34.96 23.51 COMPONENT RATIOS Material Cost Component(% earnings) 55.71 58.68 55.71 58.48 53.38Selling Cost Component 17.98 17.23 17.31 17.19 17.71Exports as percent of Total Sales 0.67 0.81 0.83 0.66 0.56Import Comp. in Raw Mat. Consumed 21.04 17.96 20.81 18.41 18.28Long term assets / Total Assets 0.47 0.42 0.44 0.48 0.54Bonus Component In Equity Capital (%) 97.98 97.98 97.98 97.98 97.98

Auditors report


BSE Code

: 500820NSE Code

: ASIANPAINTEQ

You can view the entire text of Auditor's Report of the company for the latest year.

Year End : 200803We have audited the attached Balance Sheet of ASIAN PAINTS LIMITED (the Company) as at 31 March, 2008, and also the Profit and Loss Account and the Cash Flow Statement of the Company for the year ended on that date, annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis of our opinion.

As required by the Companies (Auditors Report) Order, 2003, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956 (the Act), we enclose in the Annexure a statement on the matters specified -in paragraphs 4 and 5 of the said order to the extent applicable.

Further to our comments in the Annexure referred to above, we report that:

(a) We have obtained all the information and explanations, which to the best of our knowledge

and belief were necessary for the purpose of our audit;

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;

(c) The Balance Sheet, Profit and Loss Account and Cash Flow Statement referred toJn this report are in agreement with the books of account;

(d) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in Section 211 (3C) of the Act.

(e) On the basis of the written representations received from the Directors of the Company as at 31 March, 2008, and taken on record by the Board of Directors, we report that none of the Directors of the Company is disqualified as on 31 March, 2008 from being appointed as a Director in terms of clause (g) of sub-section (1) of Section 274 of the Act; and

(f) In our opinion, and to the best of our information and according to the explanations given to us, the said financial statements give the information required by the Act, in the prescribed manner and give a true and fair view in conformity with the accounting principles generally accepted in India:

(i) in the case of the Balance Sheet, of the state of affairs of the Company as on 31 March, 2008;

(ii) in the case of the Profit and Loss Account, of the profit of the Company for the year ended on that date; and

(iii) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Annexure to the Auditors Report - 31 March, 2008 (Referred to in our report of even date)

1. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of the fixed assets.

(b) The Company has a regular programme of physical verification of fixed assets in a phased manner, over a period of three years. In our opinion, this periodicity of physical verification is reasonable, having regard to the size of the Company and the nature of fixed assets. No material discrepancies have been noticed in respect of the assets physically verified during the year.

(c) The Company has not disposed off substantial part of the fixed assets during the year.

2. (a) The inveptories, except goods-in-transit and stock lying with third parties, have been physically verified by the Companys management during the year. In our opinion, the frequency of verification is reasonable. For stocks lying with third parties written confirmations at the year end, have been obtained.

(b) The procedures of physical verification of stocks followed by the Companys management are adequate in relation to the size of the Company and the nature of its business.

(c) The Company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and book records were not material and have been properly dealt with in the books of account.

3. The Company has neither granted nor taken any loans, secured or unsecured, to or from companies, firms or other parties covered in the register required to be maintained under

Section 301 of the Act.

4. In our opinion, and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the Company and the nature of its business with regard to purchase of inventories and fixed assets and with regard to sale of goods and services. There is no major weakness in the internal control procedures.

5. (a) According to the information and explanations given to us, the particulars of all contracts and arrangements referred to in Section 301 of the Act, have been properly entered in the register maintained under that Section.

(b) In our opinion, and according to the information and explanations given to us, the transactions made in pursuance of contracts and arrangements referred to in (a) above and exceeding the value of Rs. 5 lakhs with any party during the year have been made at prices which are reasonable having regard to the prevailing market prices at the relevant time.

6. In our opinion and according to the information and explanations given to us, the Company has complied with the directives issued by the Reserve Bank of India and the provisions of Section 58A and - 58AA or any other relevant provisions of the Act and the rules framed there under.

7. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business.

8. We have broadly reviewed the books of accounts maintained by the Company pursuant to the rules prescribed by the Central Government for the maintenance of cost records under Section 209(1 )(d) of the Act in respect of paints, resins and pentaerythritol and are of the opinion that prima facie, the prescribed accounts and records have been made and maintained. However, we have not made a detailed examination of the records.

9. (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, amounts deducted/accrued in the books of account in respect of undisputed statutory dues including Provident Fund, Employees State Insurance, Investor Education and Protection Fund, Income-Tax, Sales-Tax, Wealth Tax, Service Tax, Customs Duty, Excise Duty, Cess and other material statutory dues have been generally regularly deposited during the year by the Company with the appropriate authorities and no undisputed amounts were in arrears as at 31 March, 2008 for a period of more than six months from the date they became payable. "

There were no dues on account of Cess under Section 441A of the Act, since the date from which the aforesaid section comes into force has not yet been notified by the Central Government.

(b) According to the information and explanations given to us, The following dues have not been deposited by the Company on account of disputes.

Name of the Nature of dues Financial Year Statute

Sales Tax Assessment F.Y. 1993-94 to 1995^967f.Y. 1997-98 to dues 1999-2000, F.Y. 2001-02, 2003-04, 2004 -05 & 2007-08 F.Y. 1999-2000 to 2003-04 F.Y. 1992-93/1993-94 F.Y. 1991 -92, F.Y. 1993-94, F.Y. 1996-97, F.Y. 1997-98 to 1998-99, F.Y. 2000-01 to

2001-02 & F.Y. 2003-04Total (A)ExciseCentral Excise Dispute F.Y. 2006-07 & Oct, 99Act, 1944 relating to Cenvat Credit F.Y. 1980-81 to 1990-91, F.Y. 1992-93 to 1995-1996, F.Y. 1997-98 to 1999-00 F.Y. 2002-03, 2004-05 & 2007-08 F.Y. 1985-86, F.Y. 1994-95 to 1995-96, F.Y. 2007-08Amount Forum where(Rs. in Crores) dispute is pending5.09 First Appellate level0.97 Second Appellate level0.16 Supreme Court2.95 Tribunal9.17 0.03 Adjudication level8.04 First Appellate0.30 Second AppellateName of the Nature of dues Financial YearStatute 1969-70 to 1972-73, F.Y. 2000-01 to 2001-02 Dispute F.Y. 1978 to 1997-98, F.Y. 2003-04 to relating to 2004-05, F.Y. 2006-07 Excise Duty F.Y. 1984-85 to 1988-89, F.Y. 1993-94 F.Y. 1995-96 to 1999-2000, F.Y. 2003-04, F.Y. 2005-06 & 2007-08 F.Y. 1994-95, F.Y. 2000-01, F.Y. 2005-06 to 2007-08 F.Y. 1986-87 to 1999-2000 Dispute F.Y. 1998-99 to 2003-04, F.Y. 2005-06 to relating to 2006-07 Service Tax F.Y. 2007-08Tota Income Tax IT matters A.Y71999-2OO0 & 2004-05under dispute A.Y. 2003-04 A.Y. 1986-87, A.Y. 1996-97 to 2004-05Total (C Grand Total

Amount Forum where (Rs. In Crores) dispute is pending

0.18 High Court4.80 Adjudication level0.73 First Appellate0.57 Second Appellate0.16 Tribunal

0.76 Adjudication level0.10 First Appellate& Second Appellate15.67 1.07 First Appellate1.20 High Court4.88 Tribunal7.15

31.99

10. The Company does, not have any accumulated losses at the end of the financial year and has not incurred cash losses in the current financial year and in the immediately preceding financial year.

11. In our opinion,"and according to the information and explanations given to us, the Company has not defaulted-during the year in repayment of dues to its bankers. The Company did not have any outstanding debentures or any outstanding loans from financial institutions during the year.

12. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities.

13. In our opinion, and according to the information and explanations given to us, the Company is not a chit fund, nidhi, mutual benefit fund or society and the provisibns of Clause 4(xiii) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company.

14. In our opinion, and according to the information and explanations given to us, the Company is not dealing or trading in shares, securities, debentures and other investments and the provisions of Clause 4(xiv) of the Companies (Auditors Report) Order, 2003 is not applicable to the Company.

15. The Company has given certain guarantees on behalf of its dealers and subsidiaries as mentioned in Note B - 3 of Schedule M of the accounts. In our opinion, based on the information and explanations received, the terms and conditions of these guarantees are not prejudicial to the interest of the Company.

16. The Company has not taken any term loans during the year.

17. According to the information and explanations given to us, and on an overall examination of the Balance Sheet of the Company, we are of the opinion that funds raised on short term basis have not been used for long term investment.

18. The Company has not made any preferential allotment of shares during the year.

19. The Company has not issued any debentures during the year.

20. The Company has not raised any money by public issues during the year.

21. As per the information and explanation given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit.

For Shah & Co. For BSR & Associates Chartered Accountants Chartered Accountants Ashish Shah Natrajan Ramkrishna Partner Partner

Membership No. 103750 Membership No. 32815Mumbai 9th May, 2008

Paint IndustryHundreds of billions of rupees in infrastructure investment, over 60% of the population aged under 30, falling interest rates, rising consumer markets growing at double-digit percentages and the promise of a strong manufacturing base for exports - the list of attractions for a coatings presence in India is by no means short.

The above are just some of the findings of IRL's new and second Profile of the Indian Paint Industry which provides up-to-date statistics and information on the following:

Availability of paint raw materials

Paint production

Paint imports and exports

Paint consumption and per capita use

Market segmentation by paint type and end-use sector

Information on paint producers

Trends in major end-user industries

Market forecasts and growth rates

The report also includes a five-year market forecast based on estimates of the various paint sector sizes for the year 2004 to 2009. More information on the contents of the report is given on the right.

Research for this title has included a comprehensive programme of desk and internet research, a review of all available published sources, some 50 interviews with senior industry executives across the organised and small-scale sectors and research and discussion taken from attendance at the 22nd Indian Paint Conference held in Mumbai in January 2005.

This report will serve as a valuable tool to strategic planners, business analysts and marketing managers involved in the manufacture, distribution and marketing of paints and coatings and their raw materials

Development of the Indian Paint Industry

IN a recent article entitled "Some Lines of Development of the Indian Paint Industry" (Current Science, November 1935), N. Srinivasan deals with the possibilities of developing the paint and certain allied industries in India. There is, of course, already quite a considerable paint-manufacturing industry in India, partly Indian owned and partly in the hands of branch English firms, but it is contended that insufficient use is made of the raw materials available in India, notably barytes (in Madras and Alwar), lead and zinc ore (in Burma), titaniferous ore (in Travancore) and earth colours.

Introduction asian Paint

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.

R & D

At Asian Paints, Research and Development (R&D) plays an important role in developing new products and innovations, and reducing costs by value re-engineering of formulations. In India, the company's 140 strong R&D team consisting of 7 doctorates and around 115 qualified scientists, has always backed the company's business plan and demands of the market place. Right from the company's inception, all its decorative products for the Indian market and also in the overseas market have been developed in-house. In the last few years, our R&D efforts have been focused on developing new exterior finishes, economy emulsions and distempers. Asian Paints' R&D team has successfully managed to develop High-end exterior finished and wood finishes in-house, which was earlier imported into the country. These products are currently marketed under Asian Paints Elastomeric Hi-Stretch Exterior paint and Asian Paints PU wood finish respectively. The R&D team also provide technological support and develop customised products for the company's international operations spanning across 19 countries. The company is also in the process of setting up new a new R&D centre near Mumbai (India).

Capital History

Type of issue Year of issue Ratio No. of sharesTotal

cumulative shares (No.)

Paid up Capital (Pre-IPO) 1982 – – 35,00,000

IPO 1982 – 16,85,185 51,85,185

Bonus issue 1985 3:5 31,11,111 82,96,296

Bonus issue 1987 1:2 41,48,148 1,24,44,444

Bonus issue 1992 3:5 74,66,666 1,99,11,110

Bonus issue 1996 1:1 1,99,11,110 3,98,22,220

Issue of shares pursuant to merger with Pentasia Chemicals Limited

1996 1:25 2,94,000 4,01,16,220

Bonus issue 2000 3:5 2,40,69,732 6,41,85,952

Bonus issue 2003 1:2 3,20,92,976 9,62,78,928

Cancellation of shares pursuant to merger of Pentasia Investments Limited with the Company

2003 – 3,59,149 9,59,19,779

Total paid up capital as on 31st March, 2007 9,59,19,779

asian paints lt1

Documents

maharashtra india pincode

gujarat india pincode

nse code

officer asian paints

investors asian paints

tamil nadu india pincode

paintsvarnishes bse

uttar pradesh india