Asian Paints Now Owns 100% of White Teak After Rs. 188 Crore Buyout; Stock Jumps 3%

Asian Paints, India's leading paint manufacturer, has completed its acquisition of White Teak, a premium lighting and home décor brand, by purchasing the remaining 40% equity stake for Rs. 188 crore.

Full Ownership Achieved Through Strategic Phased Acquisition

The official announcement was made through a stock exchange filing on Friday, June 27, where the company announced that it now owns 100% of Obgenix Software Private Limited, the parent company of White Teak, making it a wholly-owned subsidiary.
"It is now confirmed that the company has, today, acquired the remaining 40% of the equity share capital of White Teak for a consideration of Rs. 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," the exchange filing stated.

As per the data, Asian Paints had previously acquired a 49% stake in White Teak back in April 2022, followed by another 11% in June 2023. The final tranche of 160,400 equity shares was purchased from the brand's co-founders, Pawan Mehta and Gagan Mehta. With this, Asian Paints has completed its end-to-end acquisition of the lighting brand.

Asian Paints Share Price Movement lately

The acquisition was announced post-market hours, and the shares will be in focus on Monday. Asian Paints shares on Friday closed at Rs.2,359.25 on the BSE, rising 3.06% for the day. Asian Paints shares have gained 4.68% in the past 5 days while posting a 2.55% increase over the past month. On a year-to-date (YTD) basis, the stock has risen 2.49%.

Citi has maintained a 'Sell' rating on Asian Paints, setting a target price of Rs. 2,100, suggesting a downside from current levels.
Asian Paints Q4 Results

The company's fourth-quarter financial results showed some weakness. For the March 2025 quarter, net profit came in at Rs 700.8 crore, a sharp 45% drop compared to last year. Asian Paints' Q4 revenue declined 4.3% year-on-year to Rs. 8,359 crore. The company also reported a 15% YoY decline in EBITDA at Rs. 1,407 crore. Volume growth in the core decorative paints business stood at just 1.8%.

About Asian Paints

Asian Paints Limited is India's largest paint company and one of the leading players in the global coatings industry. Founded in 1942, the company is headquartered in Mumbai and operates in over 15 countries, serving consumers in more than 60 markets worldwide. It specialises in a wide range of decorative paints, industrial coatings, home décor products, and waterproofing solutions. Asian Paints is listed on both the BSE and NSE and is a top performer in the Indian consumer and construction materials sector.

Over the years, Asian Paints has expanded beyond its core paint business into bathroom fittings, lighting, and furniture segments, with brands like Royale, Berger, Sleek Kitchens, and now White Teak under its umbrella.

Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial, investment, or credit advice. The views and recommendations mentioned are based on publicly available data and expert opinions at the time of writing. Neither the author nor GoodReturns endorses any specific product or financial decision. GoodReturns.in and its affiliates are not responsible for any loss or damage resulting from reliance on the information presented.