The acquisition of the remaining stake in White Teak would be a next step forward in the company’s foray of being a complete home décor solution provider and in accordance with the definitive agreements entered into by the company with White Teak and the promoters of White Teak.
Post-acquisition of 40% of the equity share capital, White Teak has become a wholly owned subsidiary of the company.
The company had initially acquired 49% stake in April 2022 from the White Teak’s promoters, Pawan Mehta and Gagan Mehta under share purchase agreement and other definitive agreements. In June 2023, it further increased shareholding by acquiring an 11% stake.
Asian Paints is India's leading paint company and ranked among the top eight decorative coatings companies in the world. Asian Paints is engaged in the business of manufacturing, selling, and distributing paints, coatings, and products related to home décor and bath fittings and providing related services.
The company’s consolidated net profit tumbled 44.92% to Rs 1,256.72 crore on 4.27% decline in revenue from operations to Rs 8,329.59 crore in Q4 FY25 over Q4 FY24.
The scrip rallied 3.06% to settle at Rs 2,359.25 on the BSE.