The paint major said that its wholly-owned subsidiary will set up a manufacturing facility for Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) at Dahej in Gujarat.
Asian Paints (Polymers), the wholly owned subsidiary of Asian Paints, entered into a Memorandum of Understanding (MoU) with the Government of Gujarat to set up the manufacturing facility for Vinyl Acetate Ethylene Emulsion (VAE) and Vinyl Acetate Monomer (VAM) at Dahej, Gujarat, subject to such approvals and clearances, as may be required.The company will make necessary disclosures on any material developments in this regard from time to time.
Asian Paints is India's leading paint company and ranked among the top ten decorative coatings companies in the world. The company's consolidated net profit rose 5.61% to Rs 1,072.67 crore on 1.72% increase in revenue from operations to Rs 8,607.50 crore in Q3 FY23 over Q3 FY22.
The stock fell 0.28% to Rs 2827.35 on Monday, 20 February 2023.
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