Asian Paints shareholders have approved the appointment of Mr. Sudhir Sitapati and the re-appointment of Mr. Milind Sarwate as Independent Directors during its 80th Annual General Meeting held on July 9, 2026. The approvals were granted with a requisite majority, finalizing the board's previous recommendations from the meeting held on May 29, 2026. These appointments strengthen the company's governance structure for the next five years.

Mr. Sudhir Sitapati has been appointed as an Additional and Independent Director for a term of five consecutive years commencing from May 29, 2026, to May 28, 2031. Mr. Milind Sarwate has been re-appointed as an Independent Director for a second term of five consecutive years from October 21, 2026, to October 20, 2031. The company confirmed that both individuals meet the independence criteria prescribed under the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure, submitted under Regulation 30 of the Listing Regulations, confirmed that neither director is related to any of the Directors, Key Managerial Personnel, or members of the Promoter group. Furthermore, they have not been debarred from holding the office of Director by the Securities and Exchange Board of India or any other authority, and are not disqualified under Section 164 of the Companies Act, 2013.

Director Profiles

Mr. Sudhir Sitapati, aged 49, currently serves as the Managing Director & CEO of Godrej Consumer Products, a position he has held since 2021. He holds an MBA from IIM Ahmedabad and a BSc in Mathematics with Economics Honours from St. Xaviers College, Mumbai. With over two decades of experience at Unilever across India, Europe, Southeast Asia, and Africa, he brings extensive strategic leadership to the board.

Mr. Milind Sarwate, aged 66, is a Chartered Accountant, Cost Accountant, and Company Secretary with over four decades of experience in finance, governance, and risk management. He is the Founder of Increate Value Advisors LLP and serves on the boards of several companies, including CEAT Limited and Mahindra & Mahindra Financial Services Limited. His previous leadership roles include tenures at Godrej Consumer Products Limited and Marico Limited.

Asian Paints has raised its prices by approximately 12% in response to mounting cost pressures on raw materials triggered by the ongoing crisis in West Asia. The company's decision reflects the direct impact that regional geopolitical tensions have had on its input cost structure.

Impact of West Asia Crisis on Raw Material Costs

Recent tensions in West Asia have led to major increases in raw material costs for Asian Paints. The company identified these cost escalations as a key challenge necessitating a pricing response to protect its financial position.

Price Hike Details

The following table outlines the key details of the pricing action taken by Asian Paints:

The approximately 12% price increase represents Asian Paints' effort to offset the financial burden imposed by elevated raw material costs. The West Asia crisis has created significant headwinds for the company's cost management, making the price revision a necessary measure to address these challenges.