- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Meet man who leads Rs 243890 crore company, lost Rs 21735 crore in one day after...
He joined the company as a management graduate and initially spent eight years in sales.
Updated : Nov 11, 2024, 07:25 PM IST
 "Meet man who leads Rs 243890 crore company, lost Rs 21735 crore in one day after...")
TRENDING NOW
)
Sudhanshu Pandey makes big statement on Anupamaa co-actor Rupali Ganguly's stepdaughter allegations: 'It's not good...'
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
Meet richest footballer of 2024, not Cristiano Ronaldo, Lionel Messi, his net worth is...
)
Gautam Adani's BIG Rs 16877 crore plan to take on Mukesh Ambani, set to build Mumbai's largest...
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
'Kash ye Aishwarya ke liye...': Amitabh Bachchan shares early review of 'pride' Abhishek Bachchan's film, netizens react
)
Virat Kohli's tweet mistaken for 'divorce announcement' from Anushka Sharma, fans compare to AR Rahman's separation post
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan says he'll do 'whatever it takes' to be there for Aaradhya
)
Samantha Ruth Prabhu shares inspirational poem ahead of Naga Chaitanya, Sobhita Dhulipala wedding: 'Force your heart...'
)
Model's bold dance in towel at India Gate raises eyebrows, netizens say arrest her, watch viral video
)
AR Rahman, Saira Banu to separate 29 years after marriage due to 'significant emotional strain': 'Couple has found...'
)
Meet Madhuri, Karisma's rival who rejected Shah Rukh Khan films; became star after giving 8 superhits in a year, now...
)
Meet Imsha Rehman, Pakistani TikTok star who deactivated her accounts after video leak and Minahil Malik's MMS
Amit Syngle is a well-known businessman who leads India's leading paint company, Asian Paints, as Managing Director and CEO. He has been working with the company for the last 31 years in various capacities. Syngle joined the company as a management graduate and initially spent eight years in sales. He holds a BE Mechanical degree from Panjab Engineering College and an MBA from CBM Panjab University. Syngle has been leading the company in his current role since April 2020.
However, on Monday, Syngle suffered a setback after his company's market valuation eroded by Rs 21,735.41 crore to Rs 2,43,890.43 crore. This was due to shares of Asian Paints on Monday tumbling over 8 per cent after the firm reported a 43.71 per cent decline in consolidated net profit to Rs 693.66 crore for the September quarter. The stock dropped 8.18 per cent to Rs 2,542.65 apiece on the BSE. During the day, it tanked 9.47 per cent to Rs 2,507 -- the 52-week low level. The stock emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms.
"The paint industry faced a subdued demand environment during the quarter. Domestic decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5 per cent for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country," Syngle said.
"We expect margins to recover in the coming quarters on the back of anticipated softening in material prices coupled with price increases implemented in the last few months," Syngle said. Asian Paints was started in a garage in Gaiwadi by four Gujarati friends in 1942. Since then, it has come a long way.
(With inputs from PTI)
