The paint giant’s net profit after minority interest falls to Rs 694.60 crore, down from Rs 1,205.40 crore in the same period last year
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The company faced challenges due to muted consumer sentiments and the extended monsoon season, which adversely impacted demand in key markets
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Mumbai's Nadkarni family, whose third generation is now into paints manufacturing, has alleged in legal forums that the late Ashwin Dani and entities close to him came in as minority shareholders in their family-owned company and tricked them into becoming majority shareholders. Dani was actually eying the crucial patents and inventions by Jayram Nadkarni, the nonagenarian, known as the father of India's paint manufacturing industry.
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