ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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ASIAN PAINTS-Mixed Performance

EPW Research Foundation ASIAN PAINTS Mixed Performance RECENTLY in the news because of the run- in among the promoters the Chokseys on the one hand and the Danis and Vakils on the other Asian Paints saw a mixed performance during 1996-97, While net sales and value of production rose by 4.6 per cent and 2 per cent, respectively, the company's operating profit increased by 19,1 per cent over the previous year. However, steep rise in interest charges (up 53 per cent) and depreciation provision (up 34.3 per cent) resulted in the company's bottomline falling by 1.6 per cent. The payment of Rs 4.9 crore towards the voluntary retirement scheme for employees at its Mumbai plant also affected the company's net profit.

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