Akzo Nobel India Ltd - Stock Valuation and Financial Performance

Akzo Nobel India Limited (‘the Company’) was incorporated in India on 12 March 1954 as Indian Explosives Limited. It is currently known as Akzo Nobel India Limited with effect from 15 February 2010 under Section 23(1) of the Companies Act, 1956.

Akzo Nobel is the world's largest coatings company, with leading market positions and brands in countries around the world. The company creates everyday essentials to make people’s lives more liveable and inspiring, present in India for over many decades. As a leading paints and coatings company, it supplies essential protection and essential colour to industries and consumers. Backed by a pioneering heritage, its innovative products and sustainable technologies are designed to meet the growing demands of its fast-changing planet, while making life easier. Ranked as a leader in sustainability, it is dedicated to energising cities and communities while creating a protected, colourful world where life is improved by what it does.

Company’s history

In the year 1911, the ICI Group commenced its operations in India. Brunner Mond & Co, one of the four companies that combined in 1926 to form ICI in the UK, opened a trading office in Calcutta (now Kolkata) to sell alkalis and dyes. In 1923, it became Brunner Mond & Co (India) and, in 1929, the name was changed to Imperial Chemical Industries (India) Ltd. This was followed by a period of sustained expansion, diversification and growth leading to 1954, with the formation of Indian Explosives Ltd, promoted jointly by ICI PLC and the Government of India. Its name was changed to IEL Limited in 1985 and to ICI India Limited in 1989. The Government of India’s holding became nil in 2003.

Along with the other group companies of ICI PLC in India, it sponsored the establishment of the ICI India Research and Technology Centre in Thane in 1976. Over the years, it saw more consolidation, restructuring and divestment. The highlights of this period include the merger of three other group companies of ICI plc in India - The Alkali and Chemical Corporation of India Ltd, Chemicals and Fibres India Limited and Crescent Dyes and Chemicals Limited - in 1984. Nalco Chemicals India Ltd was formed in 1987. A paints plant as well as a polyurethanes systems house were commissioned at Thane in 1997; another paints plant was commissioned at Mohali near Chandigarh; the Uniqema Innovation Centre opened at Thane in the following year.

Business area of the company

The Company is engaged in the business of manufacturing, trading and selling of paints and related products. The Company also provides research and development services to the holding company and its group companies.

Product and services

• Decorative Paints 
  
• Waterproofing Solutions 
  
• Woodcare & Specialty Products 
  
• Automotive & Specialty Coatings
  
• Marine & Protective Coatings 
  
• Powder Coatings 
  
• Industrial Coatings

Awards and Recognitions

FY2016-17

• The company has received the Globe Platinum Awards for ‘Pioneering Coatings Technology’,
• The company’s Chairman Nihal Kaviratne CBE was awarded for ‘Business Excellence’ at the World Business Conclave in Hong Kong.

FY2017-18

• The company has received ICSI (Institute of Company Secretaries of India) CSR Excellence Award 2017 in ‘Emerging Companies’ category.

FY2018-19

• The company won three awards at the prestigious Asia Best CSR Award 2018 organized by CMO Asia for Best CSR Practice, Education and Skill Development.

FY2019-20

• The Golden Globe Tiger Award 2019 in Kuala Lumpur for undertaking CSR project in Vocational Skill Training in Painting.
• Honored with Excellence in Supply Chain Planning in an event organised by The Alden Global, the 7th Inflection Conference & Awards in India.