Asian Paints Ltd

Asian Paints Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Asian Paints Ltd

₹ 2,659 -1.02%
08 Jun - close price
asianpaints.com BSE: 500820 NSE: ASIANPAINT
About

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.

Key Points

Business Segments

Website BSE NSE
  • Market Cap ₹ 2,55,070 Cr.
  • Current Price ₹ 2,659
  • High / Low ₹ 2,986 / 2,115
  • Stock P/E 57.5
  • Book Value ₹ 223
  • Dividend Yield 1.03 %
  • ROCE 26.3 %
  • ROE 21.8 %
  • Face Value ₹ 1.00
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Pros

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

Cons

  • Stock is trading at 11.9 times its book value
  • The company has delivered a poor sales growth of 10.4% over past five years.
  • Working capital days have increased from 67.7 days to 102 days

* 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 Sensex Nifty 50 BSE 500 BSE Consumer Durables BSE 100

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
8,787 9,182 8,479 9,103 8,731 8,970 8,028 8,549 8,359 8,939 8,531 8,867 9,247
6,923 7,061 6,762 7,047 7,039 7,276 6,788 6,913 6,923 7,314 7,028 7,086 7,460
Operating Profit 1,865 2,121 1,716 2,056 1,691 1,694 1,240 1,637 1,436 1,625 1,503 1,781 1,787
OPM % 21% 23% 20% 23% 19% 19% 15% 19% 17% 18% 18% 20% 19%
104 228 194 186 212 193 25 193 -60 229 237 69 197
Interest 39 46 51 54 54 55 63 56 53 44 44 48 59
Depreciation 220 198 209 220 226 228 242 256 301 301 305 313 310
Profit before tax 1,710 2,105 1,651 1,968 1,624 1,604 959 1,518 1,022 1,509 1,392 1,489 1,614
Tax % 26% 25% 25% 25% 21% 26% 28% 26% 31% 26% 27% 28% 27%
1,258 1,575 1,232 1,475 1,275 1,187 694 1,128 701 1,117 1,018 1,074 1,185
EPS in Rs 12.87 16.16 12.57 15.09 13.10 12.20 7.24 11.58 7.22 11.47 10.36 11.05 12.22
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
13,615 14,271 15,062 16,825 19,240 20,211 21,713 29,101 34,489 35,495 33,906 35,584
11,372 11,546 12,068 13,621 15,475 16,049 16,857 24,298 28,229 27,910 27,899 28,888
Operating Profit 2,243 2,725 2,994 3,204 3,765 4,162 4,856 4,804 6,260 7,585 6,006 6,696
OPM % 16% 19% 20% 19% 20% 21% 22% 17% 18% 21% 18% 19%
142 213 338 336 274 350 332 296 431 821 350 732
Interest 42 49 37 41 110 102 92 95 144 205 227 195
Depreciation 266 276 335 360 622 780 791 816 858 853 1,026 1,229
Profit before tax 2,077 2,614 2,960 3,138 3,306 3,629 4,304 4,188 5,689 7,348 5,103 6,003
Tax % 31% 32% 32% 33% 33% 24% 26% 26% 26% 24% 27% 27%
1,427 1,803 2,016 2,098 2,208 2,774 3,207 3,085 4,195 5,558 3,710 4,395
EPS in Rs 14.54 18.19 20.22 21.26 22.48 28.20 32.73 31.59 42.81 56.92 38.23 45.09
Dividend Payout % 42% 41% 51% 41% 47% 43% 55% 61% 60% 58% 65% 61%
Compounded Sales Growth
10 Years: 10%
5 Years: 10%
3 Years: 1%
TTM: 5%
Compounded Profit Growth
10 Years: 10%
5 Years: 7%
3 Years: 2%
TTM: 13%
Stock Price CAGR
10 Years: 10%
5 Years: -2%
3 Years: -6%
1 Year: 18%
Return on Equity
10 Years: 25%
5 Years: 25%
3 Years: 24%
Last Year: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 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
418 323 560 533 1,320 1,118 1,093 1,587 1,933 2,474 2,290 3,929
3,754 3,711 4,241 4,820 5,459 4,889 6,456 7,560 7,854 8,698 8,665 9,234
Total Liabilities 8,914 10,559 12,405 13,763 16,249 16,138 20,355 22,958 25,779 29,901 30,355 34,534
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
4,471 4,324 6,192 6,485 6,974 7,707 9,577 13,765 14,728 15,468 15,156 15,984
Total Assets 8,914 10,559 12,405 13,763 16,249 16,138 20,355 22,958 25,779 29,901 30,355 34,534

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,188 2,243 1,527 2,113 2,470 3,038 3,683 986 4,193 6,104 4,424 7,088
-465 -866 -681 -1,556 -918 -518 -541 -317 -1,282 -2,548 -941 -1,334
-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 3,378
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%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 32 30 35 38 36 32 44 49 49 50 46 46
Inventory Days 123 108 138 117 119 127 134 142 121 122 142 105
Days Payable 84 84 101 95 90 80 119 96 71 79 81 70
Cash Conversion Cycle 70 54 72 60 65 79 59 94 99 93 107 80
Working Capital Days 11 15 22 22 16 34 37 57 54 49 52 102
ROCE % 42% 42% 38% 36% 33% 33% 34% 29% 34% 38% 26% 26%

Insights

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Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Domestic Decorative Business Volume Growth
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Total Domestic Decorative Paint Capacity
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Active Dealers/Distributors
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Retail Touchpoints
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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63%
17.48% 17.65% 17.32% 15.89% 15.27% 15.28% 13.61% 12.23% 11.85% 11.64% 12.78% 12.11%
10.01% 10.01% 10.52% 11.61% 12.30% 13.10% 13.98% 15.51% 20.98% 21.50% 21.08% 21.74%
0.05% 0.05% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.06% 0.07% 0.07% 0.07%
19.82% 19.64% 19.44% 19.78% 19.68% 18.88% 19.66% 19.51% 14.41% 14.09% 13.37% 13.39%
0.04% 0.04% 0.04% 0.04% 0.06% 0.05% 0.05% 0.05% 0.07% 0.06% 0.06% 0.06%
No. of Shareholders 9,97,4559,85,2169,75,31911,05,32611,11,6019,75,80711,92,87612,13,83611,71,14511,08,40410,00,99910,01,799

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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