Asian Paints was set up in the year 1942 and is India’s leading paint company with a group turnover of ₹ 170.85 billion. The group has an enviable reputation in the corporate world for professionalism, fast track growth, and building shareholder equity. Asian Paints operates in 16 countries and has 24 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, Taubmans and Kadisco. Asian Paints manufactures wide range of paints for decorative and industrial use. 

Based upon the following particulars prepare the statement of profit and loss of the company for the year 2016–17.

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Particulars Advertisement expenses Amortisation of intangible assets Closing stock-raw material Closing stock-packing material Closing stock-finished goods Closing stock-work in progress Closing stock-stock in trade Consumption of stores, spares and consumables Training and recruitment Contribution to provident and other funds Current income tax Deferred tax Depreciation on property, plant and equipment Dividend income Exchange difference (credit) Freight and handling charges Interest income Interest expense on loans Interest on Income tax Tax credit for earlier year Legal and professional expenses Miscellaneous expenses Dr. (in Crore) Particulars 517 Opening stock-raw material Opening stock-packing material 26 598 36 1233 Opening stock-stock in trade Other comprehensive income -items that will be classified to 75 profit and loss (credit) 185 46 Opening stock-finished goods Opening stock-work in progress 43 Other non-operating income Information technology expenses 270 77 17 1713 829 22 18 Other comprehensive income- items that will not be classified to profit and loss (credit) 40 Power and fuel 817 Purchase of raw material 42 1 37 331 Purchase of packing material Purchase of stock in trade Rent paid Repair and maintenance Salaries and wages Sale of products Processing and service income Scrap sales Subsidy from state government Sale of service CSR expenses Staff welfare expenses Cr. (in Crore) 534 40 778 65 135 3 139 185 45 88 5630 1168 647 196 86 642 14154 53 9 137 8 48 60