Asian Paints

₹2439.2 -11.6 | 0.5%

WEBSITE BSE:500820 NSE : ASIAN PAINTS 11 Jul, 15:59

Market Cap ₹233968 Cr.

Stock P/E 63.1

P/B 12.1

Current Price ₹2439.2

Book Value ₹ 201.7

Face Value 1

52W High ₹3394

Dividend Yield 1.02%

52W Low ₹ 2125

Edit Ratio

Asian Paints Research see more...

Asian Paints Ltd

As market tumbles, Asian Paints Limited should be a good bet

Overview Inc. Year: 1945Industry: Paints

Asian Paints Limited is engaged within the commercial enterprise of manufacturing, promoting and distribution of paints, coatings, products associated with domestic decor, bathtub fittings and providing associated offerings. Its segments include Paints and Home Improvement. Paints section is engaged in manufacturing and trading of paints and related services. Home Improvement section is engaged in production and buying and selling bathtub fitting merchandise and associated services The Company manufactures paints, varnishes, enamels, or lacquers, and surfacing preparations, which consist of organic composite solvents and thinners and different related products. It additionally manufactures organic and inorganic chemicals; metal sanitary ware such as baths, sinks, washbasins and similar articles and cosmetics and toiletries. It gives various offerings, along with indoors design provider, safe painting service, wood solutions, waterproofing, colour consultancy online and contractor finder services.

Asian Paints Share Price

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Peer Comparison

Asian Paints Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	8637	8787	9182	8479	9103	8731	8970	8028	8549	8359
Other Income	87	105	197	165	139	187	156	174	143	100
Total Income	8723	8893	9379	8644	9242	8918	9126	8201	8692	8459
Total Expenditure	7025	6923	7061	6762	7047	7039	7276	6788	6913	6923
Operating Profit	1698	1970	2318	1881	2195	1878	1850	1413	1780	1536
Interest	41	39	46	51	54	54	55	63	56	53
Depreciation	214	220	198	209	220	226	228	242	256	301
Exceptional Income / Expenses	0	-25	0	0	0	0	0	-180	0	-183
Profit Before Tax	1443	1687	2074	1622	1920	1599	1567	928	1468	999
Provision for Tax	381	451	530	419	493	349	417	265	390	321
Profit After Tax	1061	1235	1544	1203	1427	1250	1150	663	1079	678
Adjustments	11	-1	6	2	20	7	20	32	32	14
Profit After Adjustments	1073	1234	1550	1205	1448	1257	1170	695	1110	692
Adjusted Earnings Per Share	11.2	12.9	16.2	12.6	15.1	13.1	12.2	7.2	11.6	7.2

Asian Paints Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	14183	14271	15168	16844	19248	20211	21713	29101	34489	35495	33906	33906
Other Income	170	213	262	221	233	304	303	380	386	688	573	573
Total Income	14353	14485	15431	17064	19481	20516	22016	29481	34875	36183	34478	34478
Total Expenditure	11940	11494	12174	13640	15478	16049	16857	24298	28229	27910	27899	27900
Operating Profit	2413	2991	3256	3425	4004	4466	5159	5184	6646	8273	6579	6579
Interest	42	49	37	41	110	102	92	95	144	205	227	227
Depreciation	266	276	335	360	622	781	791	816	858	853	1026	1027
Exceptional Income / Expenses	-28	-52	0	0	0	0	0	-116	-49	0	-363	-363
Profit Before Tax	2077	2614	2934	3068	3312	3634	4304	4188	5689	7348	5103	4962
Provision for Tax	650	844	943	1041	1098	855	1098	1103	1494	1790	1393	1393
Profit After Tax	1427	1769	1990	2028	2214	2779	3207	3085	4195	5558	3710	3570
Adjustments	-32	-24	-51	11	-58	-74	-67	-54	-89	-97	-42	98
Profit After Adjustments	1395	1745	1939	2039	2156	2705	3139	3031	4106	5460	3667	3667
Adjusted Earnings Per Share	14.5	18.2	20.2	21.3	22.5	28.2	32.7	31.6	42.8	56.9	38.2	38.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-4%	5%	11%	9%
Operating Profit CAGR	-20%	8%	8%	11%
PAT CAGR	-33%	6%	6%	10%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-19%	-6%	7%	12%
ROE Average	20%	27%	26%	27%
ROCE Average	27%	35%	35%	37%

Asian Paints Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	4742	6525	7604	8410	9471	10130	12806	13812	15992	18728	19400
Minority's Interest	264	384	375	328	361	404	423	388	454	695	659
Borrowings	78	73	41	28	19	19	15	45	76	54	260
Other Non-Current Liabilities	311	429	500	546	1218	1205	1186	1144	1361	1922	1895
Total Current Liabilities	3519	3149	3885	4451	5180	4380	5926	7571	7896	8501	8141
Total Liabilities	8915	10559	12405	13763	16249	16138	20355	22958	25779	29901	30355
Fixed Assets	2660	3416	3304	3732	6497	6272	5859	5519	5770	7147	9220
Other Non-Current Assets	915	1408	2136	3117	2125	2286	2470	2287	3474	5217	4143
Total Current Assets	5339	5731	6951	6899	7612	7566	12013	15144	16535	17537	16992
Total Assets	8915	10559	12405	13763	16249	16138	20355	22958	25779	29901	30355

Asian Paints Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	920	1050	1578	1668	846	1280	929	3421	2283	3054	3627
Cash Flow from Operating Activities	1188	2243	1527	2113	2470	3038	3683	986	4193	6104	4424
Cash Flow from Investing Activities	-478	-866	-656	-1599	-944	-521	-548	-322	-1275	-2518	-874
Cash Flow from Financing Activities	-576	-849	-756	-1379	-1117	-2871	-650	-1808	-2140	-2983	-3753
Net Cash Inflow / Outflow	134	528	115	-865	408	-355	2485	-1143	779	603	-203
Closing Cash & Cash Equivalent	1067	1578	1668	846	1280	929	3421	2283	3054	3627	3357

Asian Paints Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	14.54	18.19	20.22	21.26	22.48	28.2	32.73	31.59	42.81	56.92	38.23
CEPS(Rs)	17.65	21.32	24.24	24.9	29.57	37.11	41.68	40.67	52.68	66.83	49.38
DPS(Rs)	6.1	7.5	10.3	8.7	10.5	12	17.85	19.15	25.65	33.3	24.8
Book NAV/Share(Rs)	49.44	68.02	79.27	87.68	98.73	105.61	133.51	143.85	166.45	194.75	201.66
Core EBITDA Margin(%)	13.56	15.56	15.69	16.07	17.1	17.86	19.08	13.97	15.24	17.7	14.32
EBIT Margin(%)	12.81	14.91	15.57	15.6	15.52	16.03	17.27	12.46	14.2	17.63	12.71
Pre Tax Margin(%)	12.56	14.64	15.37	15.39	15.02	15.59	16.91	12.18	13.85	17.15	12.17
PAT Margin (%)	8.63	9.91	10.43	10.17	10.04	11.93	12.6	8.97	10.21	12.97	8.85
Cash Profit Margin (%)	10.24	11.45	12.18	11.98	12.86	15.27	15.71	11.35	12.3	14.96	11.29
ROA(%)	16.8	18.17	17.33	15.5	14.75	17.16	17.57	14.24	17.22	19.96	12.31
ROE(%)	32.51	31.41	28.18	25.32	24.76	28.36	27.96	23.19	28.19	32.08	19.51
ROCE(%)	44.85	44.35	39.58	36.36	35.95	36.31	37.19	30.88	36.98	41.05	26.58
Receivable days	25.3	24.21	25.18	29.08	30.1	29	31.54	34.37	37.79	40.58	40.05
Inventory Days	47.77	43.51	44.23	48.37	48.06	51.21	51.55	52.83	54.92	51.69	55.02
Payable days	89.38	83.95	90.54	89.89	86.07	84.87	97.41	87.14	73.2	71.18	74.21
PER(x)	55.6	47.75	52.98	52.72	66.38	59.1	77.51	97.54	64.51	50	61.14
Price/Book(x)	16.36	12.77	13.51	12.78	15.11	15.78	19	21.42	16.59	14.61	11.59
Dividend Yield(%)	0.75	0.86	0.96	0.78	0.7	0.72	0.7	0.62	0.93	1.17	1.06
EV/Net Sales(x)	5.48	5.83	6.76	6.39	7.44	7.89	11.19	10.15	7.68	7.69	6.62
EV/Core EBITDA(x)	32.24	27.83	31.48	31.43	35.79	35.7	47.12	57.01	39.88	33	34.1
Net Sales Growth(%)	11.55	0.63	6.28	11.05	14.28	5	7.43	34.03	18.51	2.92	-4.48
EBIT Growth(%)	12.58	25.66	11.57	4.68	10.05	9.17	17.66	-1.93	36.19	29.48	-29.43
PAT Growth(%)	13.03	23.96	12.49	1.87	9.19	25.53	15.39	-2.94	36	32.47	-33.25
EPS Growth(%)	14.47	25.09	11.13	5.13	5.74	25.48	16.05	-3.46	35.5	32.97	-32.84
Debt/Equity(x)	0.09	0.05	0.07	0.06	0.07	0.04	0.03	0.06	0.06	0.06	0.04
Current Ratio(x)	1.52	1.82	1.79	1.55	1.47	1.73	2.03	2	2.09	2.06	2.09
Quick Ratio(x)	0.88	1.19	1.11	0.95	0.86	0.95	1.39	1.19	1.31	1.37	1.26
Interest Cover(x)	50.17	54.34	79.59	74.99	30.98	36.51	47.98	44.89	40.38	36.81	23.48
Total Debt/Mcap(x)	0.01	0	0.01	0	0	0	0	0	0	0	0

Asian Paints Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	52.63	52.63	52.63	52.63	52.63	52.63	52.63	52.63	52.63	52.63
FII	18.11	17.01	17.47	17.65	17.32	15.89	15.27	15.28	13.61	12.22
DII	9.2	10.01	10.05	10.05	10.58	11.66	12.36	13.16	14.06	15.58
Public	20.06	20.35	19.85	19.67	19.48	19.82	19.75	18.93	19.71	19.57
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	50.48	50.48	50.48	50.48	50.48	50.48	50.48	50.48	50.48	50.48
FII	17.37	16.32	16.76	16.93	16.61	15.24	14.65	14.66	13.05	11.73
DII	8.83	9.6	9.64	9.64	10.15	11.19	11.85	12.62	13.48	14.95
Public	19.24	19.52	19.04	18.87	18.68	19.01	18.94	18.16	18.91	18.77
Others	0	0	0	0	0	0	0	0	0	0
Total	95.92	95.92	95.92	95.92	95.92	95.92	95.92	95.92	95.92	95.92

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 27%
Company is almost debt free.

Cons

Debtor days have increased from 71.18 to 74.21days.
Stock is trading at 12.1 times its book value.
The company has delivered a poor profit growth of 5% over past five years.

* 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.

Asian Paints News

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Asian Paints

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Asian Paints Research see more...

Overview Inc. Year: 1945Industry: Paints

Asian Paints Share Price

Alert Data

Quarterly Price

Peer Comparison

Asian Paints Quarterly Results

Asian Paints Profit & Loss

Growth Rates

Asian Paints Balance Sheet

Asian Paints Cash Flow

Asian Paints Ratios

Asian Paints Shareholding Pattern

Asian Paints News

IPO

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