ASIAN PAINTS Expanded Capacity ASIAN PAINTS, which has a strong presence in the decorative paints segment, notched a 11.5 per cent increase in net sales in 1998-99. However, a sharp increase in operating expenses resulted in operating profit rising by a mere 2.3 per cent. The main culprit was the sharp rise in costs of raw material such as titanium dioxide and vegetable oils and firm prices in other materials during the first nine months of the year. Titanium dioxide accounts for 30-35 per cent of the company