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Asian Paints Limited on Thursday (March 27) said it has announced key leadership changes in its senior management, effective April 21, 2025. Joseph Eapen, Associate Vice President at Asian Paints International Private Limited (APIPL) at present, has been appointed as chief executive of the subsidiary. Eapen, who joined Asian Paints in 2000, has extensive experience in supply chain and international business operations.
Rahul Bhatnagar, President – Project Sales, Research & Technology (R&T), Industrial Joint Ventures, and Home Improvement, will take on additional responsibility for the supply chain function. With this change, Harish Lade, Senior Vice President – Supply Chain, will cease to be a senior management personnel (SMP) and will report to Bhatnagar. Also Read: Asian Paints promoter pledges shares as collateral for business loan Pragyan Kumar, Chief Executive – APIPL currently, will transition to the role of senior vice president – retail sales, marketing, and commercial.
As part of this shift, Ashish Rae, Vice President – Retail Sales & Marketing, will no longer be classified as an SMP and will report to Kumar. Dull Q3 For the third quarter, the company's net profit fell 23.5% from last year to ₹1,128 crore, which was marginally below expectations of ₹1,150 crore.
Asian Paints reported a 6% decline in its revenue for the quarter compared to the year-ago period. The revenue of ₹8,549 crore was lower than the CNBC-TV18 poll of ₹8,830 crore. Muted demand conditions coupled with downtrading and a weak festive season impacted the revenue performance.
The company's decorative business registered a volume growth of 1.6% during the quarter, while the street was anticipating flat volume growth. Also Read: A sian Paints shares fall to the lowest since April 2021 after two top executives depart Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter declined by 20% from last year to ₹1,637 crore, which was in line with expectations of ₹1,645 crore, while margins narrowed by 310 basis points to 19.
5%. while a CNBC-TV18 poll had pegged the figure at 18.6%.
Shares of Asian Paints Ltd ended at ₹2,338.20, up by ₹12, or 0.52%, on the BSE.
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