Asian Paints was incorporated as a private limited company under the name of Asian Oil and Paint Company Pvt. Ltd. It was converted into a public limited company in 1973. The Company manufacture a wide range of surface coatings catering to different end-uses. It also manufactures vinyl pyridine latex used in the manufacture of rubber tyres. During 1992-93 Company entered into a collaboration agreement with Nippon Paints Co. Ltd., Japan, to obtain technical know-how to manufacture powder coating and coil coatings under an exclusive licence. Necessary manufacturing facilities for the powder coatings with a capacity of 300 MT were installed and commissioned at Kasna plant.

Today Asian Paints is largest paint company in India and Asia's third largest paint company with a turnover of Rs54.63 billion.It operates in 20 countries and has 28 paint manufacturing facilities in the world servicing consumers in over 65 countries. Besides Asian Paints, the group operates around the world through its subsidiaries Berger International Limited, Apco Coatings, SCIB Paints and Taubmans. Forbes Global magazine USA ranked Asian Paints among the 200 Best Small Companies in the World for 2002 and 2003 and presented the 'Best under a Billion' award, to the company. The present MD & CEO of the company is P.M. Murty.