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Asian Paints Annual Report

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Asian Paints Annual Report
ANNUAL REPORT 2010 - 2011

CONTENTS
Management Discussion and Analysis 14 Financial Statements 75 Profit and Loss Account 37 Consolidated Balance Sheet 78 Cash Flow Statement 38 Directors’ Report 24 Schedules 39 Auditors’ Report 32 Consolidated Profit and Loss Account 79 Report on Corporate Auditors’ Report on Consolidated Balance Sheet 36

Consolidated Cash Flow Statement 80

Governance 110 General Shareholder Information 121 Notice

Schedules to Consolidated Financial Statements 81

Board of Directors
ASHWIN CHOKSI
Chairman

Audit Committee
Ms. TARJANI VAKIL
Chairperson

Share Transfer Committee
ABHAY VAKIL
Chairman

ASHWIN DANI
Vice Chairman

DIPANKAR BASU MAHENDRA SHAH

ABHAY VAKIL P.M. MURTY
Managing Director & CEO

ASHWIN CHOKSI ASHWIN DANI JAYESH MERCHANT

MAHENDRA CHOKSI AMAR VAKIL Mrs. INA DANI* Ms. TARJANI VAKIL DIPANKAR BASU MAHENDRA SHAH DEEPAK SATWALEKAR R.A. SHAH DR. S. SIVARAM S. RAMADORAI

Shareholders / Investors Grievance Committee
MAHENDRA SHAH
Chairman

Ad hoc Committee
Ms. TARJANI VAKIL DIPANKAR BASU MAHENDRA SHAH

DEEPAK SATWALEKAR Chairman

ABHAY VAKIL P.M. MURTY MAHENDRA CHOKSI Mrs. INA DANI

Remuneration Committee
DIPANKAR BASU
Chairman

Auditors

SHAH & CO.

Chartered Accountants

Company Secretary
JAYESH MERCHANT

Ms. TARJANI VAKIL DEEPAK SATWALEKAR

B S R & ASSOCIATES
Chartered Accountants

* Appointed as an Additonal Director w.e.f. 27th July, 2010

DIRECTORS

ASHWIN CHOKSI

ASHWIN DANI

ABHAY VAKIL

P.M. MURTY

MAHENDRA CHOKSI

AMAR VAKIL

Mrs. INA DANI

Ms. TARJANI VAKIL

DIPANKAR BASU

MAHENDRA SHAH

DEEPAK SATWALEKAR

R.A. SHAH

DR. S. SIVARAM

S. RAMADORAI

CHAIRMAN’S LETTER

Dear Shareholders,
It is my privilege to communicate with you at the end of another successful year for Asian Paints. The financial year 2010-11 was one in which both the world as well as the Indian economy showed resilience. While the global economy
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