Asian Paints
- Market cap
- ₹ 2,21,095 Cr.
- P/E
- 45.4x
- P/B
- 10.25x
- 52-week range
- 2,115 – 2,985.7
- ROE
- 22%
- ROCE
- 26%
- Dividend yield
- 1.2%
- Debt / equity
- 0.18
- Sector
- Consumer Durables
- Industry
- Paints
- Listed on
- NSE, BSE
About
Asian Paints Limited is an India-based company which is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing related services. It operates through the Paints and Home Decor segment Nilaya Play and Nilaya Once Wall W.R.A.P. (Wear Resistant Advanced Polymer) product is a patented paint-film that is anti-bacterial, antifungal and water-resistant. Its services include Painting Services, Interior Solutions, Waterproofing Services, Sleek Kitchen, Bathroom Design & Execution and Wood Solutions. Its segments include Decorative business, Home Decor business, International business and Industrial business. Its Interior Wall Products include Interior Paints, Interior Textures and Wallpapers. Its Exterior Wall Products include Exterior Paints and Exterior Textures. Its Waterproofing Products include Bathroom Waterproofing, Tiling and others. Its Other Surface product include Wood Finishes and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Paints: 10 companies →Asian Paints against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)45.4 against a typical 35.6: pricier than most peers (1st = cheapest).8th of 10
- Sales growth+17.9% against a typical +13% from a year earlier.4th of 10
- Profit growth+39.6% against a typical +14.3% from a year earlier.3rd of 9
- Share price, 3 months−17.5% against a typical −8.7%.9th of 10
- Size₹ 2,21,095.1 Cr. market value against a typical ₹ 1,815.9 Cr. (1st = largest).1st of 10
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Highest safety
Rated AAA by 2 agencies- All agencies agree and none has raised a warning.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil AAA | Stable | 10 Sep 2026 |
| India Ratings | IND AAA; IND A1+ | Stable | 24 Jun 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 10 Sep 2026 | Reaffirmed | Crisil AAA | — | CRISIL | ₹ 1,488 Cr. | |
| 24 Jun 2026 | New rating | IND AAA | — | India Ratings | ₹ 2,300 Cr. | |
| 12 May 2026 | Reaffirmed | Crisil AAA | — | CRISIL | ₹ 1,478 Cr. | |
| 11 May 2026 | Reaffirmed | Crisil AAA | — | CRISIL | ₹ 1,488 Cr. | |
| 10 Sep 2025 | Reaffirmed | Crisil AAA | — | CRISIL | ₹ 1,488 Cr. |
Research by Minerva Capital Research Solutions
Our research team's work on Asian PaintsAlso covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 29 Oct 2026Upcoming | Financial Results/Dividend | This is to inform you that a meeting of the Board of Directors of the Company will be held on Thursday, 29th October 2026, inter alia, to consider the following:1.Approval of audited standalone financial results of the Company for the quarter and half-year ended 30th September 2026; 2.Approval of unaudited consolidated financial results of the Company for the quarter and half-year ended 30th September 2026; and 3.Declaration of interim dividend, if any, for the financial year ending 31st March 2027. It is further informed that the record date for payment of interim dividend, if declared, will be Wednesday, 4th November 2026. |
| 29 Jul 2026 | Financial Results | This is to inform that a meeting of the Board of Directors of the Company will be held on Wednesday, 29th July 2026, inter alia, to consider and approve 1. audited standalone financial results of the Company for the quarter ended 30th June 2026; and 2. unaudited consolidated financial results of the Company for the quarter ended 30th June 2026. |
| 29 May 2026 | Financial Results/Dividend | This is to inform you that a meeting of the Board of Directors of the Company will be held on Friday, 29th May 2026, inter alia, to consider the following: 1. Approval of audited standalone financial results of the Company for the quarter and financial year ended 31st March 2026; 2. Approval of audited consolidated financial results of the Company for the quarter and financial year ended 31st March 2026; and 3. Recommendation of final dividend, if any, for the financial year ended 31st March 2026. |
| 27 Jan 2026 | Financial Results | To consider and approve the audited standalone financial results of the Company for the quarter and nine months period ending 31st December 2025 and unaudited consolidated financial results of the Company for the quarter and nine months period ending 31st December 2025. |
| 12 Nov 2025 | Financial Results/Dividend | This is to inform you that a meeting of the Board of Directors of the Company will be held on Wednesday, 12th November 2025, inter alia, to consider the following: 1. Approval of audited standalone financial results of the Company for the quarter and half-year ended 30th September 2025; 2. Approval of unaudited consolidated financial results of the Company for the quarter and half-year ended 30th September 2025; and 3. Declaration of interim dividend, if any, for the financial year ending 31st March 2026. It is further informed that the record date for payment of interim dividend, if declared, will be Tuesday, 18th November 2025. |
| 29 Jul 2025 | Other business matters | This is to inform you that a meeting of the Board of Directors of the Company will be held on Tuesday, 29th July 2025, inter alia, to consider the following: 1. Approval of audited standalone financial results of the Company for the quarter ending 30th June 2025; and 2. Approval of unaudited consolidated financial results of the Company for the quarter ending 30th June 2025. |
| 8 May 2025 | Financial Results/Dividend | This is to inform you that a meeting of the Board of Directors of the Company will be held on Thursday, 8th May 2025, inter alia, to consider the following: 1. Approval of audited standalone financial results of the Company for the quarter and financial year ending 31st March 2025; 2. Approval of audited consolidated financial results of the Company for the quarter and financial year ending 31st March 2025; and 3. Recommendation of final dividend, if any, for the financial year ending 31st March 2025. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 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 | 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 | 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 % | 20% | 23% | 19% | 19% | 15% | 19% | 17% | 18% | 18% | 20% | 19% | 21% |
| Other Income | 194 | 186 | 212 | 193 | 25 | 193 | −60 | 229 | 237 | 69 | 197 | 279 |
| Interest | 51 | 54 | 54 | 55 | 63 | 56 | 53 | 44 | 44 | 48 | 59 | 48 |
| Depreciation | 209 | 220 | 226 | 228 | 242 | 256 | 301 | 301 | 305 | 313 | 310 | 304 |
| Profit before tax | 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% | 21% | 26% | 28% | 26% | 31% | 26% | 27% | 28% | 27% | 26% |
| Net Profit | 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 | 12.57 | 15.09 | 13.1 | 12.2 | 7.24 | 11.58 | 7.22 | 11.47 | 10.36 | 11.05 | 12.22 | 16.05 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 10%
- 5 Years
- 10%
- 3 Years
- 1%
- TTM
- 10%
- 10 Years
- 10%
- 5 Years
- 7%
- 3 Years
- 2%
- TTM
- 27%
- 10 Years
- 9%
- 5 Years
- −3%
- 3 Years
- −6%
- TTM
- —
- 10 Years
- 25%
- 5 Years
- 25%
- 3 Years
- 24%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Asian Paints | ₹ 2,284.60 | ₹ 2,21,095 Cr. | 45.4x | 10.3x | 22% | — |
| Solar Industries India | ₹ 18,320.00 | ₹ 1,65,778 Cr. | 99.6x | 26.6x | 31.4% | 17.7% |
| Pidilite Industries | ₹ 1,514.00 | ₹ 1,54,107 Cr. | 64.8x | 14.7x | 23.8% | 16.9% |
| SRF | ₹ 2,309.00 | ₹ 68,444 Cr. | 44.6x | 6.1x | 13.8% | 11.6% |
| Linde India | ₹ 5,697.00 | ₹ 48,586 Cr. | 110.5x | 14.2x | 13.6% | 21.7% |
| Coromandel International | ₹ 1,723.60 | ₹ 50,876 Cr. | 29.6x | 4.8x | 16.6% | 6% |
Management
- Amit Syngle
- Chief Executive Officer, Managing Director, Executive Director
- Ramalingam Jeyapandiyan Jeyamurugan
- Chief Financial Officer, Compliance Officer, Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.