“It is now informed that the company has, today, acquired the balance 40% of the equity share capital of White Teak for a consideration of ₹188 crores from the promoters of White Teak. Accordingly, the company now holds 100% of the equity share capital of White Teak, by virtue of which White Teak has become a wholly owned subsidiary of the company,” according to a stock exchange filing.
The stake was purchased from the company’s promoters, Pawan Mehta and Gagan Mehta. With this acquisition of 1,60,400 equity shares, Asian Paints now holds 100% of White Teak’s equity share capital, making it a wholly owned subsidiary.
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Asian Paints initially acquired a 49% stake in April 2022, followed by an additional 11% in June 2023. The company said the acquisition aligns with its strategy to offer end-to-end home décor solutions, expanding beyond paints into decorative lighting and accessories through White Teak.
Fourth Quarter Results
For the March quarter, Asian Paints’ volume growth for the decorative business stood at 1.8%, which is below the CNBC-TV18 poll, which was expecting the volume growth to be between 4% and 5%. Net profit for the quarter fell 45% from last year to ₹700.8 crore, while the CNBC-TV18 poll was working with a figure of ₹1,105 crore.
The net profit is also dragged lower by an exceptional item of ₹179.81 crore during the quarter, out of which there is an impairment loss in its subsidiary worth ₹101.3 crore and a fair valuation loss of ₹78.51 crore towards derivative contracts for future stake purchases in White Teak.
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Revenue for the quarter declined by 4.3% on a year-on-year basis to ₹8,359 crore, which is lower than the CNBC-TV18 estimate of ₹8,730 crore. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter fell 15% on a year-on-year basis to ₹1,407 crore, below the CNBC-TV18 poll of ₹1,575 crore.
Shares of Asian Paints Ltd ended at ₹2,359.25, up by ₹70.05, or 3.06%, on the BSE.
First Published: Jun 28, 2025 1:03 AM IST
