On Thursday, it was reported by CNBC-TV18 that Ashwin Dani, the co-founder and non-executive director of Asian Paints, has passed away at the age of 79. Ashwin Dani started his journey at Asian Paints in 1968 as a senior executive and gradually worked his way up to become the leader of the company. He played a key role in the company’s growth, leading it to become the largest paint manufacturer in the country, with a group turnover of Rs 21,700 crore. According to Forbes, Ashwin Dani’s net worth is estimated to be around $7.1 billion as of 2023.

Ashwin Dani was born on September 26, 1944, in Mumbai. He completed his Bachelor of Science degree in Chemistry from Mumbai University in 1966 and later pursued a Master’s degree in Chemical Engineering from the University of Akron in the United States. He initially worked as a chemist in Detroit before joining his family business, Asian Paints, in 1968 as a senior executive.

Throughout his career, Ashwin Dani held various positions within the company, including director of research and development, works director, full-time director, vice-chairman, and managing director. He was known for his focus on research and development, which led to innovative concepts in the paints sector. Before joining Asian Paints, Dani also worked as a development chemist at Inmont Corp in Detroit, USA.

Ashwin Dani was married to Ina Dani and had three children. Their son, Malav Dani, currently serves on the board of Asian Paints. Apart from his business ventures, Ashwin Dani was a yoga practitioner and had a passion for art collection. Forbes estimates his family’s net worth to be Rs 68,000 crore.

In the quarter from March to June this year, Asian Paints reported a consolidated net profit of Rs 1550.4 crore, showing a significant year-on-year growth of 50%. The company’s consolidated sales also rose by 7% to Rs 9,153.8 crore.

On Thursday, shares of Asian Paints fell by 3.97% to Rs 3169.60 apiece on the BSE.

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