Message from the MD & CEO

Dear Readers,

Globally, FY 2022-23 has been a year of significant challenges amidst geopolitical tensions to the lingering impact of COVID-19 and mounting inflation. Amid this volatility and inflationary environment, we delivered a double-digit volume and value growth in the Decorative business in India, taking multiple steps to expand the market and gain from the organised and unorganised segments through our distinct product and service offerings. The results delivered for the year bears testimony to this phenomenal work done by Team Asian Paints.

The Integrated Annual Report for FY 2022-23 gives detailed insights into the Company’s performance on financial as well as non-financial aspects. I urge you to read it.

We have always looked at integrating our sustainability agenda into the Company’s business objectives and considered it as a key driver of long-term value creation for all our stakeholders. We have been publishing our Sustainability Report since 2014-15, and our 9th Sustainability Report provides greater details of the various elements being pursued by the Company and the milestones achieved under environmental and social stewardship in this decade of focussed action in Sustainability.

Our climate change strategy involves mitigation through our decarbonisation strategy as well as increasing resiliency through our adaptation efforts. Our mitigation efforts within our operations, over the years, have resulted in an impressive 74% reduction in Scope 1 and Scope 2 emission intensity over 2013-14, primarily driven by energy efficiency initiatives and augmentation of renewable energy, which now stands at over 62%. During the year, we inventoried our Scope 3 emissions and have formulated our strategy towards reducing the value chain emissions. We support Task Force on Climate-related Financial Disclosures (TCFD) and during the year, we conducted a climate risk assessment as per its recommendations. This now guides our climate change adaptation and sharpens our mitigation efforts.

Our on-site and off-site harvesting and recharging projects have helped us replenish 382% of the freshwater consumed within our 8 paint manufacturing facilities. When it comes to specific hazardous waste, there has been a 21% reduction over the previous FY representing a 71% overall improvement over 2013-14. Under plastic Extended Producer Responsibility (EPR), we have collected over 54,000 MT of flexible plastics and rigid plastics across 23 states and ensured its safe disposal.

For our customers, we are providing best-in-class safe and eco-friendly products through the green-certified low VOC product range, high-durability products, and higher renewable content. We have formulated Nilaya Naturals, first-of-its-kind paint with over 90% natural ingredients. As we move forward, we will continue to develop safe and sustainable products. One of our latest projects involves backward integration to manufacture environment-friendly low VOC Vinyl Acetate Ethylene Emulsion (VAE), which represents a significant step toward strengthening our position in this area.

This year, our factories at Kasna, Khandala and Patancheru have been awarded the prestigious British Safety Council ‘Sword of Honour’ in Occupational Health and Safety assessment. Our Colour Academy offers the best training facilities and works towards enhancing productivity as well as the financial well-being of the people in the paint application trade as well as carpenters and plumbers, covering over 5.1 lakh participants. We continued our programmes centred around the key areas of Health and Hygiene touching more than 3.65 lakh lives, Water Management creating water harvesting potential of 195% and continued to stand with our communities in their time of need through our disaster relief support.

Our recently adopted ESG strategy incorporates sustainable operations and product offerings, upholds highest standards of social responsibility and world-class governance, and sets ambitious commitments till 2030. During the year, we rolled out the Company’s sustainable supply chain framework which is a strong step towards establishing the ESG agenda in our value chain. Our ESG approach propels us to steer the business strategy to deliver our purpose of bringing joy to people’s lives.

For any feedback or queries, do write to us at

Happy Reading!


Amit Syngle

Managing Director & CEO,
Asian Paints Limited