APL/SEC/26/2026-27/18

Nature of the Disclosure

This is a regulatory filing to inform the stock exchanges that the video recording and transcript of the proceedings of the 80th Annual General Meeting (AGM) of Asian Paints Limited, held on Thursday, 9th July 2026, have been uploaded on the company's website (www.asianpaints.com).

The AGM was conducted through Video Conference in accordance with the provisions of the Companies Act, 2013, and relevant circulars from the Ministry of Corporate Affairs and SEBI. The meeting was chaired by Mr. R Seshasayee, Independent Director and Chairman.

Key Quantitative Figures & Financial Performance (FY 2025-26)

  • Consolidated Net Sales: ₹35,516 crores (growth of 5.1%)
  • Consolidated Operating Margins (PBDIT): 18.9% (expanded from 17.8% in the previous year)
  • Net Profit after minority interest: ₹4,325 crores (growth of 17.9%)
  • Final Dividend Recommended: ₹23 per equity share
  • Interim Dividend Paid (Nov 2025): ₹4.50 per equity share
  • Total Dividend for FY26: ₹27.50 per equity share (compared to ₹24.80 in the previous year, an 11% increase)
  • Dividend Payout Ratio: 60%
  • New Products Contribution: ~16% of overall revenues
  • Water Replenishment Rate: 589% of freshwater consumption
  • Renewable Energy Usage: 56.5% of factory electricity requirements
  • Cumulative GHG Reduction: Over 139,000 tonnes
  • Employee Engagement Score: 82%
  • Bad Debts Written Off: ₹121.95 crores (compared to ₹6.06 crores in the prior period)

Strategic & Operational Highlights

  • Innovation: Launched new products including SmartCare Damp Secure, Apcolite All Protek, and WoodTech PU Gold with termite repellent technology. Established the ColourNext Lab for research.
  • Service Platforms: Strengthened service-led platforms like Beautiful Homes Painting Service, Total Assure (AI for project monitoring), Metacare (industrial asset preservation), and SmartAssure (waterproofing).
  • Distribution: Expanded the retail network by adding nearly 6,000 new touchpoints.
  • Backward Integration: Progress on India's first integrated VAM-VAE manufacturing ecosystem at Dahej with an annual capacity of 150,000 MT of VAE and 100,000 MT of VAM. This is aimed at supply chain resilience and reducing import dependence.
  • International Operations: Commissioned the white cement facility in Fujairah, UAE.
  • Joint Venture: Formally extended the industrial joint venture partnership with the PPG Group for another 15 years.
  • Subsidiary Performance: The industrial JVs delivered strong full-year performance with double-digit growth. The bath and sanitary business revenue de-grew by 2.5% to ₹347 crores, attributed to brass price volatility.
  • Acquisition: On 27-06-25, the Company acquired the remaining 40% stake in White Teak for ₹188 crores.
  • IT & Digital Investment: Invested ₹158.2 crores into IT, driving AI integration, digital visualization tools, and intelligent recommendation engines.
  • CSR & Training: Through Beautiful Homes Academy, trained over 945,000 participants. Healthcare interventions reached over 259,000 beneficiaries.

Governance & Board Matters

  • The appointment of Mr. Sudhir Sitapati as an Additional Director in the capacity of an Independent Director was noted.
  • The proposed re-appointment of Mr. Milind Sarwate as an Independent Director was noted.
  • Mr. Manish Choksi and Ms. Amrita Vakil, Non-Executive Promoter Directors retiring by rotation, offered themselves for reappointment.
  • All Directors of the Company were present at the meeting.
  • The Statutory Auditors (Deloitte Haskins & Sells LLP), Secretarial Auditor representative, and Cost Auditors (Joshi Apte & Associates) were also present.
  • The remote e-Voting period was from 9:00 a.m. IST on Sunday, 5th July 2026, to 5:00 p.m. IST on Wednesday, 8th July 2026. Mr. Makarand Joshi was the Scrutinizer.

Outlook & Commentary

  • The external environment is expected to remain dynamic, with recent West Asia escalation creating significant inflationary pressures in raw materials, particularly crude oil-linked inputs.
  • The Company has implemented measured price increases of approximately 12% to mitigate these headwinds but remains conscious of balancing pricing actions with protecting underlying consumer demand.
  • Recent signs of de-escalation in the West Asia conflict were noted, though the situation remains fluid.
  • Opportunities in India's housing, infrastructure, and consumption story were highlighted as compelling.
  • The Company steps into the new financial year with a focus on innovation, execution, and its purpose of beautifying, preserving, and transforming spaces.

Shareholder Q&A Key Themes

Shareholders raised numerous questions and suggestions during the meeting. The Chairman addressed key themes in his closing remarks:

  • Geopolitical Impact & Pricing: Addressed inflationary pressures from the West Asia conflict and the Company's calibrated price increase response.
  • Competition: Acknowledged increased intensity but expressed confidence in holding and enhancing market presence through customer connect, innovation, and network strength.
  • Per Capita Consumption & Demand: Noted the structurally attractive low per capita paint penetration in India, supported by drivers like urbanization and infrastructure spending. Improvement in both rural and urban demand was noted.
  • Backward Integration (Dahej VAM-VAE): Confirmed this strategic investment will support next-gen emulsions and provide cost competitiveness. The first phase is expected to be commissioned in the next quarter.
  • ESG & Patents: Stated the Company has applied for 181 patents, with 91 granted.
  • Home Décor (White Teak, Bath): Acknowledged performance below expectations and an impairment loss recognized on White Teak investment, but reaffirmed belief in the long-term integrated home strategy.
  • MD & CEO Remuneration: Clarified the increase included variable pay linked to performance parameters.
  • Bonus Issue: Noted the Board will consider a bonus issue as a means of rewarding shareholders at an appropriate time in the future.
  • Factory Visits: Noted the request and stated the need to assess feasibility with safety precautions.

Voting and Conclusion

  • The AGM concluded at 12:57 p.m. IST.
  • The resolutions set forth in the notice were deemed to be passed subject to the receipt of the requisite number of votes.
  • Over 160 members participated in the AGM.
  • Shareholders with unanswered queries were advised to email the Company Secretary for a response.