Mumbai, June 28 -- What began as a diversification strategy into adjacent lines of business is now stagnating for Asian Paints. Its home decor brands, including sanitaryware brand Ess Ess, kitchen brand Sleek, and decorative lighting brand The White Teak Company, have either shrunk in size or stagnated over the last four fiscal years, data from the company's latest annual report show.

Asian Paints first bought a stake in The White Teak Company and Weatherseal - that sells doors and windows - in 2022. The other acquisitions are much older - Ess Ess was acquired in 2014 and Sleek Kitchens in 2013.

Between FY22 and FY26, revenues of Ess Ess and Sleek have stagnated at around Rs.350 crore and Rs.400 crore, respectively. Meanwhile, The White...