Asian Paints slides after two senior executives resign

Asian Paints declined 2.12% to Rs 2296 following resignation of two senior management executives, Shyam Swamy and Vishu Goel.

Vishu Goel, associate vice president, retail sales, commercial & marketing and Shyam Swamy, vice president, home improvement, dor, services & retailing has resigned from the services of the company.

The companys board has approved the appointment of Ashish Rae, currently associate vice president - project sales as associate vice president - retail sales, marketing & commercial with effect from 2nd January 2025.

Furthermore, Gagandeep Singh Kalsi, associate vice president - strategy, business development will also handle Dor and Services with effect from 23rd December 2024.

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 distribution of paints, coatings, products related to home dor, bath fittings and providing related services.

The company reported 42.37% decline in consolidated net profit to Rs 694.64 crore in Q2 FY25 as against Rs 1,205.42 crore reported in Q2 FY24. Revenue from operations stood at Rs 8,003.02 crore in Q2 FY25, down 5.31% from Rs 8,451.93 crore recorded in the corresponding quarter previous year.

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