Akzo Nobel India Ltd
Incorporated in 1954, Akzo Noble India Ltd is
in the business of manufacturing, trading, and selling paints and related products. It also provides research and development services
to its Holding Company and other group companies[1]
- Market Cap ₹ 14,348 Cr.
- Current Price ₹ 3,150
- High / Low ₹ 3,958 / 3,022
- Stock P/E 36.8
- Book Value ₹ 495
- Dividend Yield 3.17 %
- ROCE 41.7 %
- ROE 32.2 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is providing a good dividend yield of 3.17%.
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.3%
- Company has been maintaining a healthy dividend payout of 91.5%
Cons
- Promoter holding has decreased over last quarter: -5.00%
- The company has delivered a poor sales growth of 8.98% over past five years.
- Earnings include an other income of Rs.1,900 Cr.
* 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
Consumer Discretionary Consumer Durables Consumer Durables Paints
Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Consumer Discretionary
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,332 | 2,442 | 2,640 | 2,572 | 2,719 | 2,918 | 2,662 | 2,421 | 3,149 | 3,802 | 3,962 | 4,091 | 3,903 | |
| 2,141 | 2,181 | 2,380 | 2,244 | 2,420 | 2,576 | 2,291 | 2,078 | 2,714 | 3,276 | 3,328 | 3,449 | 3,332 | |
| Operating Profit | 192 | 261 | 260 | 329 | 300 | 342 | 370 | 343 | 434 | 526 | 633 | 642 | 571 |
| OPM % | 8% | 11% | 10% | 13% | 11% | 12% | 14% | 14% | 14% | 14% | 16% | 16% | 15% |
| 57 | 68 | 110 | 65 | 240 | 43 | 41 | 21 | 23 | 26 | 35 | 27 | 1,900 | |
| Interest | 2 | 2 | 2 | 3 | 4 | 4 | 9 | 10 | 14 | 14 | 12 | 10 | 11 |
| Depreciation | 44 | 53 | 54 | 54 | 58 | 65 | 79 | 76 | 76 | 82 | 82 | 89 | 82 |
| Profit before tax | 203 | 275 | 314 | 337 | 478 | 316 | 323 | 278 | 367 | 456 | 573 | 570 | 2,378 |
| Tax % | 26% | 32% | 32% | 27% | 16% | 33% | 27% | 25% | 21% | 26% | 26% | 25% | |
| 150 | 186 | 214 | 247 | 401 | 211 | 237 | 208 | 290 | 335 | 427 | 429 | 1,990 | |
| EPS in Rs | 32.19 | 39.93 | 45.91 | 52.94 | 85.85 | 46.33 | 52.13 | 45.59 | 63.68 | 73.58 | 93.70 | 94.11 | 436.94 |
| Dividend Payout % | 233% | 50% | 153% | 42% | 26% | 52% | 27% | 110% | 118% | 88% | 80% | 106% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 9% |
| 3 Years: | 9% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 13% |
| 3 Years: | 14% |
| TTM: | -10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 7% |
| 3 Years: | 13% |
| 1 Year: | -10% |
| Return on Equity | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 26% |
| 3 Years: | 30% |
| Last Year: | 32% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 47 | 47 | 47 | 47 | 47 | 46 | 46 | 46 | 46 | 46 | 46 | 46 | 46 |
| Reserves | 801 | 873 | 1,116 | 962 | 1,244 | 1,090 | 1,192 | 1,242 | 1,213 | 1,270 | 1,284 | 1,283 | 2,208 |
| 0 | 0 | 3 | 3 | 3 | 3 | 64 | 64 | 70 | 70 | 60 | 62 | 71 | |
| 1,191 | 879 | 878 | 872 | 938 | 959 | 1,024 | 1,178 | 1,261 | 1,354 | 1,513 | 1,511 | 1,315 | |
| Total Liabilities | 2,039 | 1,799 | 2,043 | 1,884 | 2,231 | 2,097 | 2,325 | 2,529 | 2,590 | 2,739 | 2,903 | 2,902 | 3,640 |
| 502 | 516 | 523 | 519 | 539 | 530 | 574 | 543 | 520 | 511 | 526 | 481 | 1,580 | |
| CWIP | 31 | 12 | 9 | 23 | 27 | 17 | 16 | 16 | 42 | 73 | 119 | 67 | 74 |
| Investments | 629 | 394 | 600 | 336 | 573 | 377 | 84 | 0 | 0 | 0 | 0 | 0 | 0 |
| 877 | 876 | 911 | 1,006 | 1,092 | 1,173 | 1,652 | 1,969 | 2,029 | 2,156 | 2,258 | 2,354 | 1,987 | |
| Total Assets | 2,039 | 1,799 | 2,043 | 1,884 | 2,231 | 2,097 | 2,325 | 2,529 | 2,590 | 2,739 | 2,903 | 2,902 | 3,640 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 171 | 155 | 263 | 143 | 181 | 141 | 375 | 283 | 121 | 486 | 486 | 311 | |
| 250 | 239 | -156 | 225 | -6 | 185 | 4 | -225 | 230 | -15 | -87 | 123 | |
| -438 | -410 | -113 | -392 | -126 | -360 | -157 | -174 | -346 | -302 | -439 | -460 | |
| Net Cash Flow | -17 | -16 | -6 | -24 | 50 | -34 | 222 | -116 | 6 | 170 | -41 | -26 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 48 | 42 | 49 | 58 | 53 | 56 | 54 | 62 | 57 | 53 | 53 | 52 |
| Inventory Days | 86 | 95 | 89 | 107 | 84 | 85 | 107 | 135 | 129 | 95 | 100 | 95 |
| Days Payable | 130 | 119 | 145 | 164 | 159 | 131 | 171 | 220 | 164 | 138 | 164 | 151 |
| Cash Conversion Cycle | 4 | 17 | -7 | 1 | -22 | 9 | -10 | -23 | 22 | 11 | -10 | -3 |
| Working Capital Days | -62 | -12 | -59 | 15 | 10 | 20 | -3 | -14 | 14 | 4 | -2 | 22 |
| ROCE % | 16% | 25% | 26% | 27% | 40% | 24% | 27% | 22% | 28% | 35% | 42% | 42% |
Documents
Announcements
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Receipt Of Notice From Tamil Nadu GST Dept
9h - Tamil Nadu GST notice (22-Dec-2025) alleging transport-document defect; penalty Rs.5,19,840; response pending.
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Receipt Of Order From West Bengal GST Dept
20 Dec - Order dated 19 Dec 2025 demands Rs 67,32,604 from Akzo Nobel India for Apr 2021–Mar 2022 GST ITC disallowance.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 19 Dec
-
Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
19 Dec - Imperial Chemical Industries sold 4,097,025 shares (~9%) for ~Rs1,296.09 crore on Dec 17–18, 2025.
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Sale Of Shares By Erstwhile Promoters
19 Dec - ICIL sold 40,97,025 shares (~9%) via block deal for Rs.1296.09 crore on 17 Dec 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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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
from bse
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Financial Year 2011
from nse
Concalls
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Nov 2025Transcript PPT
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Nov 2024TranscriptAI SummaryPPT
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Aug 2024TranscriptAI SummaryPPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Aug 2023TranscriptAI SummaryPPT
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Nov 2022Transcript PPT
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Jun 2022Transcript PPT
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Aug 2021TranscriptAI SummaryPPT
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Mar 2020TranscriptPPT
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Sep 2019Transcript PPT
Business Overview:[1]
ANL is a part of the Akzo Nobel group, the world's largest coating company. It supplies essential protection and essential color to industries and consumers.