Asian Paints

Few materials players in Asia Pacific match the executional depth of Asian Paints. From Mumbai, the group manages a workforce of approximately 10k and generates close to $5B in revenue, while steadily widening the gap with regional peers.

Long-term partnerships with sovereign and institutional investors give the company unusual visibility on multi-year demand.

“Asian Paints is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Capital markets have started to price in the durability of the model, and rating agencies have followed.