Asian Paints Ltd
Asian Paints is the largest home decor company in India. The 80+yyr old company has major brands like Asian Paints, Berger, 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.
- Market Cap ₹ 2,65,818 Cr.
- Current Price ₹ 2,771
- High / Low ₹ 3,568 / 2,670
- Stock P/E 50.0
- Book Value ₹ 192
- Dividend Yield 1.20 %
- ROCE 39.5 %
- ROE 31.3 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 20.2% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 28.4%
- Company has been maintaining a healthy dividend payout of 59.5%
Cons
- Stock is trading at 14.4 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Paints/Varnish Industry: Paints / Varnishes
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8,539 | 9,936 | 11,110 | 11,830 | 12,647 | 14,168 | 16,392 | 17,194 | 18,517 | 25,189 | 30,078 | 30,850 | |
6,988 | 8,216 | 9,095 | 9,415 | 9,973 | 11,242 | 12,885 | 13,337 | 14,024 | 20,601 | 24,258 | 23,820 | |
Operating Profit | 1,551 | 1,719 | 2,015 | 2,415 | 2,674 | 2,926 | 3,507 | 3,857 | 4,493 | 4,588 | 5,820 | 7,030 |
OPM % | 18% | 17% | 18% | 20% | 21% | 21% | 21% | 22% | 24% | 18% | 19% | 23% |
126 | 225 | 173 | 249 | 300 | 275 | 285 | 324 | 366 | 398 | 518 | 825 | |
Interest | 34 | 29 | 31 | 27 | 22 | 24 | 81 | 78 | 72 | 70 | 93 | 115 |
Depreciation | 127 | 212 | 223 | 235 | 295 | 311 | 541 | 690 | 697 | 722 | 756 | 734 |
Profit before tax | 1,516 | 1,703 | 1,934 | 2,403 | 2,657 | 2,866 | 3,170 | 3,413 | 4,090 | 4,194 | 5,490 | 7,005 |
Tax % | 31% | 31% | 31% | 32% | 32% | 34% | 33% | 22% | 25% | 25% | 25% | 24% |
1,050 | 1,169 | 1,327 | 1,623 | 1,802 | 1,895 | 2,132 | 2,654 | 3,052 | 3,135 | 4,100 | 5,322 | |
EPS in Rs | 10.95 | 12.19 | 13.84 | 16.92 | 18.78 | 19.75 | 22.23 | 27.67 | 31.82 | 32.68 | 42.75 | 55.48 |
Dividend Payout % | 42% | 43% | 44% | 44% | 55% | 44% | 47% | 43% | 56% | 59% | 60% | 60% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 13% |
3 Years: | 19% |
TTM: | 3% |
Compounded Profit Growth | |
---|---|
10 Years: | 17% |
5 Years: | 20% |
3 Years: | 21% |
TTM: | 30% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 16% |
3 Years: | 0% |
1 Year: | -11% |
Return on Equity | |
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10 Years: | 28% |
5 Years: | 28% |
3 Years: | 28% |
Last Year: | 31% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 |
Reserves | 2,926 | 3,505 | 4,134 | 5,830 | 6,999 | 7,702 | 8,747 | 9,357 | 11,993 | 13,253 | 15,490 | 18,329 |
54 | 48 | 40 | 36 | 39 | 11 | 614 | 663 | 648 | 714 | 892 | 1,168 | |
2,570 | 3,071 | 3,004 | 2,764 | 3,224 | 3,778 | 4,226 | 3,471 | 4,843 | 5,845 | 6,052 | 6,388 | |
Total Liabilities | 5,646 | 6,720 | 7,274 | 8,725 | 10,358 | 11,588 | 13,683 | 13,588 | 17,581 | 19,908 | 22,530 | 25,982 |
2,102 | 2,012 | 1,965 | 2,629 | 2,605 | 2,569 | 5,221 | 4,961 | 4,763 | 4,554 | 4,643 | 5,360 | |
CWIP | 53 | 38 | 140 | 93 | 220 | 1,392 | 179 | 108 | 119 | 225 | 978 | 2,561 |
Investments | 465 | 1,671 | 1,894 | 2,797 | 2,914 | 2,577 | 2,964 | 2,658 | 5,179 | 3,811 | 4,912 | 5,705 |
3,027 | 2,999 | 3,275 | 3,207 | 4,620 | 5,050 | 5,318 | 5,861 | 7,519 | 11,318 | 11,997 | 12,356 | |
Total Assets | 5,646 | 6,720 | 7,274 | 8,725 | 10,358 | 11,588 | 13,683 | 13,588 | 17,581 | 19,908 | 22,530 | 25,982 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,081 | 1,371 | 1,144 | 1,980 | 1,420 | 2,136 | 2,395 | 2,813 | 3,459 | 1,260 | 4,222 | 5,738 | |
-440 | -618 | -292 | -863 | -584 | -1,371 | -833 | -775 | -436 | -340 | -1,397 | -2,263 | |
-591 | -560 | -728 | -704 | -956 | -1,239 | -1,089 | -2,501 | -583 | -1,989 | -2,185 | -2,974 | |
Net Cash Flow | 51 | 194 | 124 | 413 | -120 | -474 | 473 | -462 | 2,440 | -1,069 | 640 | 500 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 27 | 26 | 24 | 23 | 29 | 29 | 28 | 24 | 36 | 42 | 42 | 43 |
Inventory Days | 123 | 121 | 122 | 106 | 141 | 117 | 117 | 127 | 133 | 143 | 120 | 108 |
Days Payable | 101 | 109 | 89 | 88 | 107 | 99 | 94 | 79 | 120 | 95 | 69 | 69 |
Cash Conversion Cycle | 49 | 38 | 57 | 42 | 62 | 47 | 51 | 72 | 49 | 91 | 93 | 82 |
Working Capital Days | 1 | -2 | 7 | 14 | 31 | 25 | 23 | 42 | 44 | 70 | 64 | 97 |
ROCE % | 53% | 50% | 49% | 47% | 41% | 39% | 37% | 36% | 36% | 32% | 36% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - The Company through its representatives will be participating in the meeting with GIC, Singapore.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 9 May
- Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Audio Recording Of The Investor Conference 9 May
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Announcement under Regulation 30 (LODR)-Investor Presentation
9 May - Presentation being made to the investors on the business and financial performance of the Company for the quarter and financial year ended 31st March 2024.
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Announcement under Regulation 30 (LODR)-Change in Directorate
9 May - The Board of the Company at their meeting held today, based on the recommendation of the Nomination and Remuneration Committee and subject to the approval …
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
from nse
Concalls
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May 2024TranscriptNotesPPT
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Jan 2024Transcript PPT
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Oct 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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Jun 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Oct 2021Transcript PPT
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Jul 2021Transcript PPT
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May 2021TranscriptNotesPPT
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Mar 2021TranscriptPPT
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Jan 2021TranscriptNotesPPT
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Nov 2020TranscriptPPT
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Oct 2020TranscriptNotesPPT
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Aug 2020TranscriptPPT
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Sep 2019TranscriptPPT
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Aug 2019TranscriptPPT
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Jun 2019TranscriptPPT
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May 2019TranscriptNotesPPT
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Dec 2018TranscriptPPT
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May 2018TranscriptNotesPPT
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Nov 2017TranscriptPPT
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Sep 2017TranscriptPPT
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May 2017TranscriptNotesPPT
Brand[1]
The Asian Paints group has some of the leading brands under its umbrella like Asian Paints, Sleek, Berger, Weather Seal, Apco, Taubman, Kadisco, Scib etc. In FY23, 25 patents were filed and 10 were granted. 22 new products were launched in FY23.[2] The company has total 49 patents in its name till FY23. [3]