Ashwin Dani (1944–2023) was an Indian billionaire businessman. He was the non-executive chairman of Asian Paints Limited, India’s largest household paint company, which was co-founded by his father in 1942. He started his association with Asian Paints in 1968. Dani served as its Vice Chairman and Managing Director. Company from 1998 to 2009. He died after a brief illness on 28 September 2023.
Contents
Wiki/Biography
Ashwin Suryakant Dani was born on Tuesday, 26 September 1944 (age 79 years at the time of death) in Mumbai. His zodiac sign is Libra. He studied Bachelor of Science (Hons) from The Institute of Science, Mumbai, University of Mumbai. Then, he went on to study Bachelor of Science (Technology) in Pigments, Paints and Varnishes at the Institute of Chemical Technology, Mumbai (formerly known as the University Department of Chemical Technology (UDCT). Subsequently, he obtained a Master of Science in Polymer Science from the University of Akron, Ohio, USA. He also earned a Diploma in Color Science from Rensselaer Polytechnic, Troy, New York.
Physical Appearance
Height (Approx): 5′ 7″
Hair Colour: Gray (Half Bald)
Eye color: Balk
Family
He belongs to a Hindu Jain family. His father was a resident of Kapadvanj, a historical town in Kheda district of Gujarat.
parents and siblings
His father, Suryakant Dani, is the co-founder of Asian Paints.
wife and children
His wife Ina Dani, like her husband, is also a keen yoga practitioner and follower of yoga teacher BKS Iyengar. She taught yoga to pregnant women at the Iyengar Yoga Centre, which the husband-wife established in 1998 in their residential building, Home Villa. He has also served as the Managing Trustee of Guruji Light on Yoga Research Trust (LOYRT).
Ashwin Dani’s wife Ina Dani
They have three sons, Jalaj Dani, Malav Dani and Hasit Dani. In 2017, Jalaj resigned from Asian Paints to start his own business after an 18-year tenure with the company, during which he managed multiple functions across the human resources, supply chain and chemicals portfolio. Later, he became the co-promoter of Asian Paints. Malav is the Chairman of the CSR Committee at Asian Paints.
Jalaj Dani, son of Ashwin Dani
Malav Dani, son of Ashwin Dani
livelihood
In 1967, Dani began his career working as a development chemist with Inmont Corp. in Detroit, USA. He joined Asian Paints in 1968 as a senior executive and worked in various positions such as Director of R&D, Works Director and Whole-Time Director. The company was founded by his father Suryakant Dani along with his three friends, Champaklal Choksi, Chimanlal Choksi and Arvind Vakil in February 1942 in Gaivadi, Girgaum, Mumbai. Later, the Choksi family sold their stake, meanwhile, the remaining three families held 52.3 percent stake in the company. He joined the board of the company in 1970 and held the position of Vice Chairman and Managing Director of the company from 1998 to 2009. Subsequently, he remained on the Board of Directors and Company as a Non-Executive Director and Vice Chairman. He went through various difficult situations during the three years starting in 1995. He experienced a heart bypass operation, saw his longest-serving business partner depart from the company, and saw a devastating fire destroy one of his primary manufacturing facilities. Despite setbacks, he led a 50:50 joint venture between Asian Paints and PPG Industries, USA, the world’s leading automotive coatings manufacturer. He was the founding director on the board of the first joint venture company with PPG Industries Inc. called PPG Asian Paints Pvt. Ltd. Additionally, he was also on the board of Sun Pharmaceuticals. Other positions held by him included Chairman – Resins and Plastics Limited, Gujarat Organics Limited and Hi-Tech Plast Limited. He was also the founder-promoter of Loctite India Private Limited, which later became known as Henkel Adhesive Technologies India Private Limited. He grew the company through technological innovation, rural marketing and international acquisitions. He introduced computerized color matching into Indian industry, a concept that was widely adopted in sectors such as paints, plastics, printing inks and textiles. Under his leadership, Asian Paints became the first paint company in India and Asia to adopt this concept in 1975. He was also the first to introduce plastic packaging for paints in India and to print on plastic. One of the best products they introduced included melamine, a transparent coating for wood, which was sold under the brand name Epcolite. This product monopolized the market share for about 15 years. Dani got the idea of making melamine after their executive director pointed out that he liked too much ice in his drinks which left the glass wet and the French polish on his table ruined. The executive director urges Dani to find a solution to the problem. It took Dani six months to develop Apcolite that was fast-drying and water resistant. Asian Paints was among Forbes Asia’s Fab 50 Companies for 3 consecutive years in 2011, 2012 and 2013, with sales growth of 20% annually. Between 2018 and 2021 he was Chairman of the Board and Company. In FY23, Asian Paints reported total revenue of Rs 29,953 crore with net profit of Rs 4,100.2 crore, making it India’s largest paint company.
Awards, Honors, Achievements
- B.Ed by Hyderabad Management Association and Center for Organizational Development. Krishnamurthy Excellence Award (2017)
- Businessman of the Year Award (2015) by Business India Magazine
- Color Society Lifetime Achievement Award (2012)
- Lifetime Achievement Award (2011) by the Indian Paint Association (IPA)
- Ernst & Young Entrepreneur of the Year Award in the ‘Manufacturing’ category (2003)
- ‘Achiever of the Year Award – Chemical Industry’ by Chemtech Foundation (2003)
- Kaminor Award from the Indian Institute of Materials Management for Excellence in Supply Chain (2002)
net worth
On 28 September 2023, the date of his death, he had a net worth of $7.8 billion. With a net worth of $1310 million, he was ranked #49 on Forbes India’s 2013 list of the 100 richest Indians.
Death
He died on 28 September 2023 after a brief illness.
Facts/General Knowledge
- Dani was a keen yoga practitioner. He was a follower of Indian yoga teacher and author BKS Iyengar. It was a stubborn slipped disc that first brought Ashwin to Iyengar in 1980. Dani experienced 75% relief in just one yoga lesson and stopped going to her physiotherapist. During that period, Guruji used to travel from Pune to Mumbai by Deccan Queen train every weekend and Dani along with his wife attended his classes. The husband and wife wanted to create something permanent for yoga. So, when he built his residential building, Home Villa, in the 1990s, the first thing he did was set up an Iyengar Yoga center on its first floor. In this way Iyengar Yoga became a way of life in the Dani family. Every day, family members try to spare at least an hour to practice yoga. Danny himself practiced at least three times a week.
- Throughout his professional career, Dani has held important roles in various government and business organizations. These roles include being a member of the President’s Advisory Council at the University of Akron in Akron, Ohio, USA, holding the position of Vice President in the Federation of Indian Chambers of Commerce and Industry (FICCI), participating in the Board of Governors. The alumni association of UDCT (currently known as the Institute of Chemical Technology), and serves on the Board of Management of the Institute of Chemical Technology in Mumbai. He also served as an advisor on the Central Board of Trustees for the Employees’ Provident Fund of the Government of India.
- His son Jalaj Dani’s wife, Vita Dani, is the niece of Indian businessman Dhirubhai Ambani. His brothers Hital Meswani and Nikhil Meswani serve on the board of Reliance Industries.
- Ashwin Dani is an art connoisseur.
Categories: Biography
Source: vcmp.edu.vn