Asian Paints Ltd logo

Asian Paints Ltd

ASIANPAINT NSE

Key Fundamentals

LargecapPaintsConsumer Goods
Market Cap
2.5L Cr
Volatility
Moderate
P/E Ratio
52.91
EBITDA
₹7,420 Cr
Return on Equity
19.96%
Debt to Equity
0.18
Book Value
₹222.81
EPS
₹52.96
52W High
₹2,985.7
52W Low
₹2,115

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Asian Paints Ltd insights

56 extracted metrics + investor summaries across FY06–FY26.

Log in — free

Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 61.4%

Weaknesses

2
  • Stock is trading at 12.1 times its book value
  • The company has delivered a poor sales growth of 10.4% over past five years.

Growth Rate

Revenue Growth
5.31% ↘
Net Income Growth
18.47% ↘
Cash Flow Change
60.22% ↗
ROE
7.95% ↘
ROCE
1.79% ↘
EBITDA Margin (Avg.)
7.13% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 4d ago
AI opinion · based on fundamentals
Risk medium

Asian Paints Ltd commands a market cap of ₹2,62,101 Cr with a PE of 54x and PB of 12.23x, reflecting premium valuations. The company has delivered 10% compounded sales growth over 10 years with a healthy 61.4% dividend payout, though recent 3-year sales CAGR has slowed to just 1% and ROE has moderated from 25% (5-year average) to 22% in the last year.

Bull Case 8
  • Consistent long-term sales compounder with 10% compounded sales growth over both 5-year and 10-year periods
  • Strong profitability recovery with TTM profit growth of 27%, indicating margin expansion and operating leverage
  • Healthy and consistent ROE track record averaging 24-25% over 3, 5, and 10-year periods
  • Generous dividend payout ratio of 61.4%, returning significant capital to shareholders at a 1% yield
  • Dominant market leader in Indian decorative paints with ₹2,62,101 Cr market cap reflecting franchise strength
  • TTM sales growth of 10% shows recovery from the sluggish 1% CAGR seen over the prior 3-year period
  • Long-term wealth creation with 10-year stock CAGR of 9% despite recent underperformance
  • Compounded profit growth of 10% over 10 years demonstrates durable earnings power through cycles
Bear Case 8
  • Expensive valuation at 54x PE, well above market averages, leaves little margin of safety
  • Trading at 12.23x book value, significantly elevated for a consumer goods company
  • 3-year stock CAGR of -5% and 5-year stock CAGR of -2% indicate sustained price underperformance
  • Sales growth stagnated at just 1% CAGR over the last 3 years, signalling demand challenges
  • ROE has declined from 25% (5-year and 10-year average) to 22% in the last year, showing moderation
  • 3-year compounded profit growth of only 2% reflects weak earnings momentum in the medium term
  • 5-year compounded profit growth of 7% lags behind the 10% sales growth over the same period, suggesting intermittent margin pressure
  • Poor 5-year sales growth of 10.4% for a company commanding a 54x PE multiple raises questions about growth-to-valuation alignment

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 20h ago
Headwinds 2
  • Raw material volatility, supply disruptions Jul 29

    Asian Paints flagged heightened raw material cost volatility and supply chain disruptions from renewed conflicts, introducing uncertainty into Q2 operations.

  • Possible price cuts in H2 Jul 30

    Company signaled potential price reductions in the second half if raw material costs decline, which could compress margins if not fully offset by volumes.

Positives 2
  • Q1FY27 profit surges 40% Aug 3

    Net profit rose 40% to ₹1,539.3 crore on revenue of ₹10,521.4 crore (up 17.9%), with margin expansion from calibrated pricing and premiumization exceeding FY27 EBITDA guidance.

  • ₹23 dividend, 5.1% revenue growth Jul 30

    Shareholders approved ₹23 final dividend at the 80th AGM; company reported 5.1% revenue growth and expanded margins despite geopolitical headwinds.

Neutral 4
  • Promoter pledge activity on shares Aug 10

    Smiti Holding pledged 4.03 crore shares (raising encumbered stake to 4.21%) on Aug 10, while also releasing pledge on 3.42 crore shares on Aug 14, bringing net encumbered stake to 3.57%. Separately, Satyen Gandhi pledged 2.5 lakh shares and Geetanjali Trading pledged 12.5 lakh shares for loan collateral.

  • Shubhlakshmi Dani appointed director Jul 29

    Shubhlakshmi Dani appointed Additional Non-Executive Director effective July 29, 2026; shareholder e-voting for approval runs August 11 to September 9.

  • Cost efficiency drive planned Jul 29

    Asian Paints is pursuing cost efficiency improvements to maintain margins amid raw material volatility and supply chain pressures in Q2.

  • Earnings call held July 29 Jul 23

    Investor conference call scheduled for July 29, 2026 at 5:00 PM IST to discuss Q4FY26 business and financial performance.

TL;DR: Asian Paints delivered a standout Q1FY27 with 40% profit growth and strong margin expansion driven by pricing power and premiumization. Key risks include raw material volatility, supply chain disruptions from geopolitical conflicts, and potential H2 price cuts that could pressure margins. Promoter pledge activity is elevated but net encumbrance remains modest at ~5%. The trend is positive near-term on earnings momentum, but H2 visibility depends on input cost trajectory and the company's ability to sustain premiumization gains.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
9,182
8,479
9,103
8,731
8,970
8,028
8,549
8,359
8,939
8,531
8,867
9,247
10,542
Expenses
7,061
6,762
7,047
7,039
7,276
6,788
6,913
6,923
7,314
7,028
7,086
7,460
8,373
Operating Profit
2,121
1,716
2,056
1,691
1,694
1,240
1,637
1,436
1,625
1,503
1,781
1,787
2,169
OPM %
23%
20%
23%
19%
19%
15%
19%
17%
18%
18%
20%
19%
21%
Other Income
228
194
186
212
193
25
193
-60
229
237
69
197
279
Interest
46
51
54
54
55
63
56
53
44
44
48
59
48
Depreciation
198
209
220
226
228
242
256
301
301
305
313
310
304
PBT
2,105
1,651
1,968
1,624
1,604
959
1,518
1,022
1,509
1,392
1,489
1,614
2,096
Tax %
25%
25%
25%
21%
26%
28%
26%
31%
26%
27%
28%
27%
26%
Net Profit
1,575
1,232
1,475
1,275
1,187
694
1,128
701
1,117
1,018
1,074
1,185
1,559
EPS in Rs
16.16
12.57
15.09
13.1
12.2
7.24
11.58
7.22
11.47
10.36
11.05
12.22
16.05
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
13,615
14,271
15,062
16,825
19,240
20,211
21,713
29,101
34,489
35,495
33,906
35,584
37,187
Expenses
11,372
11,546
12,068
13,621
15,475
16,049
16,857
24,298
28,229
27,910
27,899
28,884
29,947
Operating Profit
2,243
2,725
2,994
3,204
3,765
4,162
4,856
4,804
6,260
7,585
6,006
6,700
7,240
OPM %
16%
19%
20%
19%
20%
21%
22%
17%
18%
21%
18%
19%
19%
Other Income
142
213
338
336
274
350
332
296
431
821
350
728
782
Interest
42
49
37
41
110
102
92
95
144
205
227
195
199
Depreciation
266
276
335
360
622
780
791
816
858
853
1,026
1,229
1,232
PBT
2,077
2,614
2,960
3,138
3,306
3,629
4,304
4,188
5,689
7,348
5,103
6,003
6,590
Tax %
31%
32%
32%
33%
33%
24%
26%
26%
26%
24%
27%
27%
—
Net Profit
1,427
1,803
2,016
2,098
2,208
2,774
3,207
3,085
4,195
5,558
3,710
4,395
4,837
EPS in Rs
14.54
18.19
20.22
21.26
22.48
28.2
32.73
31.59
42.81
56.92
38.23
45.09
49.68
Div. Payout %
42%
41%
51%
41%
47%
43%
55%
61%
60%
58%
65%
61%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
96
96
96
96
96
96
96
96
96
96
96
96
Reserves
4,646
6,429
7,508
8,314
9,375
10,034
12,710
13,716
15,896
18,632
19,304
21,276
Borrowings
418
323
560
533
1,320
1,118
1,093
1,587
1,933
2,474
2,290
3,929
Other Liabilities
3,754
3,711
4,241
4,820
5,459
4,889
6,456
7,560
7,854
8,698
8,665
9,218
Total Liabilities
8,914
10,559
12,405
13,763
16,249
16,138
20,355
22,958
25,779
29,901
30,355
34,519
Fixed Assets
2,660
3,416
3,304
3,732
6,497
6,272
5,859
5,519
5,770
7,147
9,220
9,640
CWIP
196
107
258
1,405
210
140
183
426
1,020
2,698
1,254
1,849
Investments
1,588
2,712
2,652
2,141
2,569
2,019
4,737
3,248
4,262
4,588
4,725
7,062
Other Assets
4,471
4,324
6,192
6,485
6,974
7,707
9,577
13,765
14,728
15,468
15,156
15,968
Total Assets
8,914
10,559
12,405
13,763
16,249
16,138
20,355
22,958
25,779
29,901
30,355
34,519
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,188
2,243
1,527
2,113
2,470
3,038
3,683
986
4,193
6,104
4,424
7,088
Investing
-465
-866
-681
-1,556
-918
-518
-541
-317
-1,282
-2,548
-941
-1,328
Financing
-576
-849
-756
-1,379
-1,117
-2,871
-650
-1,808
-2,140
-2,982
-3,753
-2,377
Net Cash Flow
147
528
90
-822
434
-351
2,492
-1,138
771
573
-270
3,383
Free Cash Flow
750
1,441
860
705
1,336
2,661
3,422
475
2,774
3,613
2,604
5,604
CFO/OP
81
112
82
100
92
97
98
45
91
105
97
129
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
32
30
35
38
36
32
44
49
49
50
46
46
Inventory Days
123
108
138
117
119
127
134
142
121
122
142
118
Days Payable
84
84
101
95
90
80
119
96
71
79
81
79
Cash Conversion Cycle
70
54
72
60
65
79
59
94
99
93
107
84
Working Capital Days
11
15
22
22
16
34
37
57
54
49
52
38
ROCE %
42%
42%
38%
36%
33%
33%
34%
29%
34%
38%
26%
26%

Shareholding Pattern

As of Jun 2026
Promoters 52.63%
DIIs 20.77%
FIIs 13.32%
Public 11.10%
Others 2.18%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
52.79%
52.79%
52.79%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
52.63%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
17.65%
0.00%
15.89%
15.27%
15.28%
13.61%
12.22%
11.85%
11.64%
12.78%
12.11%
13.32%
DIIs
6.37%
6.38%
5.94%
6.20%
6.61%
7.65%
7.97%
9.20%
10.01%
9.23%
10.05%
9.81%
11.66%
12.36%
13.16%
14.06%
15.58%
21.04%
21.58%
21.14%
21.81%
20.77%
Government
0.08%
0.04%
0.04%
0.04%
0.04%
0.04%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
12.20%
11.99%
12.10%
12.39%
12.92%
13.04%
12.69%
12.82%
13.10%
12.66%
12.47%
12.31%
12.61%
12.51%
11.77%
12.46%
12.38%
12.20%
11.90%
11.23%
11.29%
11.10%
Others
28.56%
28.80%
29.12%
28.74%
27.81%
26.64%
26.71%
25.35%
24.27%
25.49%
7.20%
25.26%
7.21%
7.24%
7.16%
7.25%
7.19%
2.28%
2.26%
2.22%
2.16%
2.18%
No. of Shareholders
0
4,99,185
4,92,867
5,77,153
7,12,261
9,46,876
10,11,450
9,11,680
10,82,650
9,97,455
9,85,216
9,75,319
11,05,330
11,11,600
9,75,807
11,92,880
12,13,840
11,71,140
11,08,400
10,01,000
10,01,800
9,59,219

Documents

1
Concall - May 2017 May 2017
2
Concall - May 2018 May 2018
3
Concall - May 2019 May 2019
4
Concall - Oct 2020 Oct 2020
5
Concall - Jan 2021 Jan 2021

Frequently Asked Questions about Asian Paints Ltd

What does Asian Paints Ltd do?
Asian Paints is the largest home decor company in India. The 80+yr old company has major brands like Asian Paints, Apco, etc under its umbrella. The co. is into wall paints, wall coverings, waterproofing, texture painting, wall stickers, mechanized tools, adhesives, modular kitchens, sanitaryware...
Where is Asian Paints Ltd (ASIANPAINT) listed?
Asian Paints Ltd is listed on the Indian stock exchanges. It is listed on NSE: ASIANPAINT and BSE: 500820. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Asian Paints Ltd belong to?
Asian Paints Ltd operates in the Consumer Goods sector within the Paints industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Asian Paints Ltd?
Asian Paints Ltd has a market capitalisation of approximately ₹254235.37 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Asian Paints Ltd?
The Price-to-Earnings (PE) ratio of Asian Paints Ltd is 52.91. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Asian Paints Ltd?
Over the past 52 weeks, Asian Paints Ltd has traded between a low of ₹2,115 and a high of ₹2,985.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Asian Paints Ltd pay dividends?
Yes, Asian Paints Ltd has a dividend yield of 1.02%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Asian Paints Ltd?
Asian Paints Ltd has a Return on Equity (ROE) of 19.96%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Asian Paints Ltd on Tapetide?
On Tapetide, you can view Asian Paints Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Asian Paints is the largest home decor company in India. The 80+yr old company has major brands like Asian Paints, Apco, etc under its umbrella. The co. is into wall paints, wall coverings, waterproofing, texture painting, wall stickers, mechanized tools, adhesives, modular kitchens, sanitaryware, lightings, soft furnishings, and uPVC windows.

Website asianpaints.com
CEO Mr. Amit Syngle
Employees 11,111
Listed 1995-05-31
Face Value ₹ 1
Issued Size 95,91,97,790

Explore More

More in Consumer Goods → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List