Summary

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97	97	Apart from the surge in aspirational spending in the bath fittings segment, the governmentʼs drive towards improved infrastructure, affordable housing and the Swachh Bharat initiative are expected to be key drivers which will provide a sustainable growth platform for the industry.
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	99	+= Business review =
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100		-Business review
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103	103	In FY2018-19, the company provided over 8 lakh in-store colour consultancies (through its Colour Idea stores), painted over 40,000 homes through Paint Total, Paint Rite and Home Solutions services; provided full Décor services through its five AP Homes launched a new series of wallpaper through Nilaya, many problem solving products like Royale Healthshield, Apcolite Rust Shield, Ultima Proteck Lamino, Economy Sheen products- Tractor Emulsion Shyne and Ace Shyne and a whole new range of waterproofing products.
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106	106	FY2018-19 was a good year for Asian Paints. All the businesses in India grew well above the market growth rates, thereby gaining share across all areas of operation. Although profitability was hit (due to the sharp increase in raw material prices), growth in demand due to an extended Diwali season and reduction of GST rates ensured a satisfactory performance for the year.
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109	109	On the channel front, the company opened more than 3,000 new outlets bringin its total strength to over 60,000. The company increased its Colour Idea stores to over 400 and its Colourworld network exceeded 46,000.
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112	112	The Home Improvement businessesSleek kitchens and Ess Ess bath fittings did exceptionally well growing by over 20% and Asian Paints is now confident that they would be growth drivers of the future.
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114	114	The Company commissioned 2 large paint manufacturing units of 300,000 KL /annum each at Mysuru and Visakhapatnam during the year. This additional production capacity would be sufficient to provide for the growth the company expect over the next few years.
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117	117	The Industrial Coating businesses were severely hit by the sharp increase in raw material prices. PPG-AP was also affected by the slowdown in the automotive sector. AP-PPG (protective coatings) grew exceptionally well by over 20%, making significant competitive gains across markets.
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120	120	The International business did not perform well. High inflation (including currency depreciation), rising raw material costs and poor economic growth affected the performance of units. Ethiopia (currency restrictions), Egypt (economic downturn) and Bangladesh fared badly while Nepal and the Middle East units of Oman, UAE and Bahrain did well. The international business should do much better in FY2019-20.
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	115	+== Transformation through technology ==
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123		-Transformation through technology
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125	125	Asian Paints has continued to develop its creative edge in a highly competitive industry by investing in cutting-edge technology for research and development of products in accordance with global trends. The company employ design thinking to connect with its consumers’ evolving tastes.
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127	127	During FY2018-19, the company added a range of value-added features to its existing products and successfully created differentiation for its products in the market.
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131	131	The company's futuristic, high-quality products have garnered international product certifications, helping to grow the credibility of its products as well as its brand value. FY2018-19 witnessed the launch of 23 new products in the architectural paints segment and 15 in the Industrial paints segment.
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	125	+== Enhancing product quality ==
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134		-Enhancing product quality
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136	136	The company's robust quality standards translate into sustained and committed efforts to ensure product viability and stability. The company's application research helps to establish product stability, the process for which includes testing for performance across various environmental conditions. An exterior paint testing facility is in place in Kochi. Testing for product validation involves the use of laboratory simulation techniques; a dedicated site for this was constructed during FY2018-19 in Mahabaleshwar, Maharashtra.
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	129	+== Digital way ==
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139		-Digital way
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141	141	The company's digital channels are enabling it to transform from being a brick-and-mortar business into a click-and-mortar business. Winning in a digital world is all about how you weave and create an ecosystem that is digitally connected.
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	133	+**Digital Touchpoints**
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144		-Digital Touchpoints
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146	146	The company's touchpoints (website, apps store, services, stores and call centre among others) capture data from consumers which in turn helps businesses to gain insights and provide better customer experience.
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	137	+**Social media presence**
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149		-Social media presence
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151	151	Asian Paints has run quite a few successful campaigns on social media to inspire, educate and help its customers make better choices on colours.
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	141	+= Financial highlights =
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154		-Financial highlights
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156	156	For the Nine months ended December 31, 2019, Asian Paints Group Revenue from operations has increased by 9.2 % to 15,575.66 crores from 14,256.95 crores. PBDIT for the group has increased by 14.7 % to 3,302.15 crores from 2,879.13 crores. Profit before tax (PBT) increased by 14.2 % to 2,934.77 crores from 2,570.55 crores. Net Profit after non-controlling interest increased by 33.2% to 2,243.28 crores as compared to 1,684.27 crores in the previous corresponding period.
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158		-References
	145	+= References =
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