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 ₹ 2,73,060 Cr.
- Current Price ₹ 2,847
- High / Low ₹ 3,568 / 2,706
- Stock P/E 51.1
- Book Value ₹ 170
- Dividend Yield 0.90 %
- ROCE 36.5 %
- ROE 28.3 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.1%
- Company has been maintaining a healthy dividend payout of 58.2%
Cons
- Stock is trading at 16.8 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 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
7,595 | 8,539 | 9,936 | 11,110 | 11,830 | 12,647 | 14,168 | 16,392 | 17,194 | 18,517 | 25,189 | 30,078 | 30,995 | |
6,243 | 6,988 | 8,216 | 9,095 | 9,415 | 9,973 | 11,242 | 12,885 | 13,337 | 14,024 | 20,601 | 24,258 | 23,766 | |
Operating Profit | 1,352 | 1,551 | 1,719 | 2,015 | 2,415 | 2,674 | 2,926 | 3,507 | 3,857 | 4,493 | 4,588 | 5,820 | 7,229 |
OPM % | 18% | 18% | 17% | 18% | 20% | 21% | 21% | 21% | 22% | 24% | 18% | 19% | 23% |
141 | 126 | 225 | 173 | 249 | 300 | 275 | 285 | 324 | 366 | 398 | 518 | 752 | |
Interest | 31 | 34 | 29 | 31 | 27 | 22 | 24 | 81 | 78 | 72 | 70 | 93 | 110 |
Depreciation | 99 | 127 | 212 | 223 | 235 | 295 | 311 | 541 | 690 | 697 | 722 | 756 | 735 |
Profit before tax | 1,363 | 1,516 | 1,703 | 1,934 | 2,403 | 2,657 | 2,866 | 3,170 | 3,413 | 4,090 | 4,194 | 5,490 | 7,137 |
Tax % | 30% | 31% | 31% | 31% | 32% | 32% | 34% | 33% | 22% | 25% | 25% | 25% | |
958 | 1,050 | 1,169 | 1,327 | 1,623 | 1,802 | 1,895 | 2,132 | 2,654 | 3,052 | 3,135 | 4,100 | 5,346 | |
EPS in Rs | 9.99 | 10.95 | 12.19 | 13.84 | 16.92 | 18.78 | 19.75 | 22.23 | 27.67 | 31.82 | 32.68 | 42.75 | 55.74 |
Dividend Payout % | 40% | 42% | 43% | 44% | 44% | 55% | 44% | 47% | 43% | 56% | 59% | 60% |
Compounded Sales Growth | |
---|---|
10 Years: | 13% |
5 Years: | 16% |
3 Years: | 20% |
TTM: | 6% |
Compounded Profit Growth | |
---|---|
10 Years: | 15% |
5 Years: | 17% |
3 Years: | 15% |
TTM: | 40% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 14% |
3 Years: | 3% |
1 Year: | 3% |
Return on Equity | |
---|---|
10 Years: | 28% |
5 Years: | 27% |
3 Years: | 27% |
Last Year: | 28% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 |
Reserves | 2,392 | 2,926 | 3,505 | 4,134 | 5,830 | 6,999 | 7,702 | 8,747 | 9,357 | 11,993 | 13,253 | 15,490 | 16,177 |
168 | 54 | 48 | 40 | 36 | 39 | 11 | 614 | 663 | 648 | 714 | 892 | 1,073 | |
2,140 | 2,570 | 3,071 | 3,004 | 2,764 | 3,224 | 3,778 | 4,226 | 3,471 | 4,843 | 5,845 | 6,052 | 6,405 | |
Total Liabilities | 4,796 | 5,646 | 6,720 | 7,274 | 8,725 | 10,358 | 11,588 | 13,683 | 13,588 | 17,581 | 19,908 | 22,530 | 23,750 |
1,009 | 2,102 | 2,012 | 1,965 | 2,629 | 2,605 | 2,569 | 5,221 | 4,961 | 4,763 | 4,554 | 4,643 | 4,707 | |
CWIP | 603 | 53 | 38 | 140 | 93 | 220 | 1,392 | 179 | 108 | 119 | 225 | 978 | 1,883 |
Investments | 542 | 465 | 1,671 | 1,894 | 2,797 | 2,914 | 2,577 | 2,964 | 2,658 | 5,179 | 3,811 | 4,912 | 5,651 |
2,642 | 3,027 | 2,999 | 3,275 | 3,207 | 4,620 | 5,050 | 5,318 | 5,861 | 7,519 | 11,318 | 11,997 | 11,508 | |
Total Assets | 4,796 | 5,646 | 6,720 | 7,274 | 8,725 | 10,358 | 11,588 | 13,683 | 13,588 | 17,581 | 19,908 | 22,530 | 23,750 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
881 | 1,081 | 1,371 | 1,144 | 1,980 | 1,420 | 2,136 | 2,395 | 2,813 | 3,459 | 1,260 | 4,222 | |
-592 | -440 | -618 | -292 | -863 | -584 | -1,371 | -833 | -775 | -436 | -340 | -1,397 | |
-297 | -591 | -560 | -728 | -704 | -956 | -1,239 | -1,089 | -2,501 | -583 | -1,989 | -2,185 | |
Net Cash Flow | -8 | 51 | 194 | 124 | 413 | -120 | -474 | 473 | -462 | 2,440 | -1,069 | 640 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 24 | 27 | 26 | 24 | 23 | 29 | 29 | 28 | 24 | 36 | 42 | 42 |
Inventory Days | 114 | 123 | 121 | 122 | 106 | 141 | 117 | 117 | 127 | 133 | 143 | 120 |
Days Payable | 100 | 101 | 109 | 89 | 88 | 107 | 99 | 94 | 79 | 120 | 95 | 69 |
Cash Conversion Cycle | 39 | 49 | 38 | 57 | 42 | 62 | 47 | 51 | 72 | 49 | 91 | 93 |
Working Capital Days | -2 | 1 | -2 | 7 | 14 | 31 | 25 | 23 | 42 | 44 | 70 | 64 |
ROCE % | 58% | 53% | 50% | 49% | 47% | 41% | 39% | 37% | 36% | 36% | 32% | 36% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Acquisition
18h - The Board of the Company at their meeting held today have approved the subscription to 47900000 equity shares to be issued and allotted by Asian …
- Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Appointment Of Cost Auditor 21h
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Announcement under Regulation 30 (LODR)-Scheme of Arrangement
21h - The Board at their meeting held today have approved the Scheme of Amalgamation of Maxbhumi Developers Limited and Sleek International Private Limited, wholly owned subsidiaries …
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Announcement under Regulation 30 (LODR)-Change in Directorate
1d - The Board has today approved the appointment of Dr. Gopichand Katragadda (DIN:02475721) as an Additional and Independent Director of the Company for a period of …
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
23 Mar - A Direction dated 5th March 2024 was issued by the Environment Engineer of Gujarat Pollution Control Board, Gandhinagar, Gujarat. The intimation in this regard is …
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
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Concalls
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Jan 2024Transcript PPT
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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]