Asian Paints Acquires Full Ownership of White Teak for ₹188 Crore

On June 30, 2025, Asian Paints shares are on investors’ radar, as India’s leading paint manufacturer, announced on June 27, that it has acquired the remaining 40% equity stake in Obgenix Software Private Limited—better known by its brand name, White Teak—for a cash consideration of ₹188 crore.

Asian Paints said in an exchange filing, “ This is in continuation to our earlier disclosures on the subject wherein it was, inter alia, informed in April 2022 that the Company had acquired 49% of the equity share capital of Obgenix Software Private Limited (hereinafter referred by its brand name ‘White Teak’) from Mr. Pawan Mehta, Mr. Gagan Mehta (hereinafter referred to as ‘promoters of White Teak’) in terms of the Share Purchase Agreement and other definitive documents (hereinafter referred to as ‘Definitive Documents’) entered into by the Company with the promoters of White Teak and White Teak. It was, thereafter, informed in June 2023 that the Company had further acquired 11% of the equity share capital from the promoters of White Teak as per the terms of the Definitive Documents”

Current Holding in White Teak

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% ownership of White Teak, making it a wholly owned subsidiary.

Asian Paints had earlier acquired a 49% stake in April 2022, followed by an additional 11% in June 2023. This move marks the final phase of its investment in the premium decorative lighting and accessories brand.

The company stated that the acquisition is in line with its long-term strategy to evolve into a comprehensive home décor solutions provider, extending its footprint beyond paints into allied segments like decorative lighting through the White Teak brand.

Also Read:Torrent Pharma Shares in Focus: Announced Acquisition of Controlling Stake in JB Chemicals

Asian Paints FY25 Earnings Highlights

During FY25, Asian Paints reported a 4.5% year-on-year decline in net sales, which stood at ₹33,797.4 crore compared to ₹35,382.1 crore in the previous fiscal. The company’s Profit Before Depreciation, Interest, Tax, Other Income, and Exceptional Items (PBDIT), excluding the share of profit from associates, fell by 20.8% to ₹6,006.2 crore from ₹7,585.0 crore. Consequently, the PBDIT margin contracted to 17.8% from 21.4%. Profit before exceptional items and tax also saw a sharp decline of 25.6%, coming in at ₹5,466.2 crore, down from ₹7,347.8 crore in the previous year.

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