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Asian Paints is thelargesthome 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.
Business Segments
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Asian Paints | 2957.20 | 71.33 | 283653.97 | 0.84 | 955.56 | 29.59 | 7356.29 | 5.59 | 27.26 | 29834.98 | 19.15 | 3976.45 | 955.56 | 14.89 | 14.65 | 0.08 |
| 2. | Berger Paints | 556.15 | 58.65 | 64841.24 | 0.68 | 206.38 | -23.50 | 2827.49 | 1.91 | 24.90 | 11707.34 | 15.21 | 1105.49 | 206.29 | 10.33 | 13.39 | 0.11 |
| 3. | Kansai Nerolac | 229.66 | 28.52 | 18568.49 | 1.09 | 133.31 | 9.89 | 1954.18 | 0.14 | 13.03 | 7854.75 | 11.70 | 651.00 | 134.93 | 2.87 | 7.57 | 0.04 |
| 4. | Akzo Nobel | 3541.70 | 41.31 | 16129.01 | 2.82 | 1682.70 | -14.84 | 834.90 | -15.01 | 41.66 | 3902.60 | 14.63 | 390.47 | 83.37 | 7.16 | 14.76 | 0.03 |
| 5. | Indigo Paints | 1300.00 | 42.67 | 6197.84 | 0.27 | 25.53 | 5.85 | 298.50 | 3.45 | 19.51 | 1288.05 | 18.06 | 145.25 | 25.53 | 5.70 | 11.15 | 0.02 |
| 6. | Sirca Paints | 501.30 | 49.15 | 2847.02 | 0.30 | 18.10 | 36.30 | 131.17 | 24.38 | 19.98 | 435.04 | 19.40 | 57.93 | 18.10 | 6.43 | 12.27 | 0.10 |
| 7. | Shalimar Paints | 64.09 | – | 536.50 | 0.00 | -14.14 | 27.93 | 133.81 | -7.55 | -12.80 | 614.36 | -5.95 | -64.41 | -14.14 | 1.89 | -11.69 | 0.67 |
| – | Median: 9 Co. | 501.3 | 41.99 | 6197.84 | 0.68 | 25.53 | 9.89 | 298.5 | 3.45 | 19.98 | 1288.05 | 15.21 | 145.25 | 25.53 | 5.7 | 12.27 | 0.08 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 7,344 | 7,522 | 7,626 | 8,114 | 7,342 | 7,913 | 7,577 | 7,976 | 6,967 | 7,418 | 7,192 | 7,868 | 7,356 |
Expenses | 6,229 | 6,027 | 5,878 | 6,114 | 5,757 | 6,016 | 6,023 | 6,380 | 5,843 | 5,909 | 5,868 | 6,348 | 5,997 |
Operating Profit | 1,116 | 1,495 | 1,748 | 2,000 | 1,585 | 1,897 | 1,554 | 1,596 | 1,123 | 1,509 | 1,324 | 1,520 | 1,359 |
Other Income | 117 | 162 | 125 | 217 | 172 | 238 | 197 | 224 | -19 | 227 | -42 | 248 | 232 |
Profit before tax | 1,020 | 1,443 | 1,654 | 2,018 | 1,551 | 1,914 | 1,522 | 1,589 | 853 | 1,476 | 979 | 1,468 | 1,288 |
Tax % | 25% | 25% | 25% | 25% | 25% | 25% | 21% | 25% | 30% | 25% | 29% | 25% | 26% |
Net Profit | 763 | 1,086 | 1,234 | 1,508 | 1,160 | 1,444 | 1,209 | 1,189 | 597 | 1,104 | 694 | 1,100 | 956 |
EPS in Rs | 7.96 | 11.32 | 12.86 | 15.73 | 12.10 | 15.05 | 12.61 | 12.40 | 6.23 | 11.51 | 7.24 | 11.46 | 9.96 |
Standalone Figures in ₹ Crores / Yearly
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 9,936 | 11,110 | 11,830 | 12,647 | 14,168 | 16,392 | 17,194 | 18,517 | 25,189 | 30,078 | 31,227 | 29,553 | 29,835 |
Expenses | 8,216 | 9,095 | 9,415 | 9,973 | 11,242 | 12,885 | 13,337 | 14,024 | 20,601 | 24,258 | 24,183 | 24,000 | 24,123 |
Operating Profit | 1,719 | 2,015 | 2,415 | 2,674 | 2,926 | 3,507 | 3,857 | 4,493 | 4,588 | 5,820 | 7,044 | 5,552 | 5,712 |
Other Income | 225 | 173 | 249 | 300 | 275 | 285 | 324 | 366 | 398 | 518 | 822 | 391 | 665 |
Interest | 29 | 31 | 27 | 22 | 24 | 81 | 78 | 72 | 70 | 93 | 124 | 144 | 129 |
Depreciation | 212 | 223 | 235 | 295 | 311 | 541 | 690 | 697 | 722 | 756 | 743 | 902 | 1,036 |
Profit before tax | 1,703 | 1,934 | 2,403 | 2,657 | 2,866 | 3,170 | 3,413 | 4,090 | 4,194 | 5,490 | 6,999 | 4,897 | 5,211 |
Net Profit | 1,169 | 1,327 | 1,623 | 1,802 | 1,895 | 2,132 | 2,654 | 3,052 | 3,135 | 4,100 | 5,315 | 3,585 | 3,854 |
EPS in Rs | 12.19 | 13.84 | 16.92 | 18.78 | 19.75 | 22.23 | 27.67 | 31.82 | 32.68 | 42.75 | 55.41 | 37.37 | 40.17 |
Dividend Payout % | 43% | 44% | 44% | 55% | 44% | 47% | 43% | 56% | 59% | 60% | 60% | 66% | – |
Standalone figures in ₹ crores
| 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 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 | 96 |
Reserves | 3,505 | 4,134 | 5,830 | 6,999 | 7,702 | 8,747 | 9,357 | 11,993 | 13,253 | 15,490 | 18,193 | 18,888 | 18,954 |
Borrowings | 48 | 40 | 36 | 39 | 11 | 614 | 663 | 648 | 714 | 892 | 1,280 | 1,199 | 1,572 |
Other Liabilities | 3,071 | 3,004 | 2,764 | 3,224 | 3,778 | 4,226 | 3,471 | 4,843 | 5,845 | 6,052 | 6,467 | 6,471 | 6,039 |
Total Liabilities | 6,720 | 7,274 | 8,725 | 10,358 | 11,588 | 13,683 | 13,588 | 17,581 | 19,908 | 22,530 | 26,036 | 26,653 | 26,661 |
Fixed Assets | 2,012 | 1,965 | 2,629 | 2,605 | 2,569 | 5,221 | 4,961 | 4,763 | 4,554 | 4,643 | 5,494 | 7,931 | 7,771 |
Gross Block | 2,981 | 3,103 | 2,863 | 3,131 | 3,401 | 6,586 | 6,850 | 6,988 | 7,289 | 8,078 | 9,456 | 12,444 | – |
Accumulated Depreciation | 969 | 1,137 | 234 | 526 | 832 | 1,364 | 1,889 | 2,225 | 2,736 | 3,436 | 3,962 | 4,513 | – |
CWIP | 38 | 140 | 93 | 220 | 1,392 | 179 | 108 | 119 | 225 | 978 | 2,561 | 386 | 317 |
Investments | 1,671 | 1,894 | 2,797 | 2,914 | 2,577 | 2,964 | 2,658 | 5,179 | 3,811 | 4,912 | 5,471 | 6,044 | 6,890 |
Other Assets | 2,999 | 3,275 | 3,207 | 4,620 | 5,050 | 5,318 | 5,861 | 7,519 | 11,318 | 11,997 | 12,510 | 12,293 | 11,683 |
Total Assets | 6,720 | 7,274 | 8,725 | 10,358 | 11,588 | 13,683 | 13,588 | 17,581 | 19,908 | 22,530 | 26,036 | 26,653 | 26,661 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 1,371 | 1,144 | 1,980 | 1,420 | 2,136 | 2,395 | 2,813 | 3,459 | 1,260 | 4,222 | 5,757 | 4,166 |
Cash from Investing Activity | -618 | -292 | -863 | -584 | -1,371 | -833 | -775 | -436 | -340 | -1,397 | -2,270 | -832 |
Cash from Financing Activity | -560 | -728 | -704 | -956 | -1,239 | -1,089 | -2,501 | -583 | -1,989 | -2,185 | -2,948 | -3,416 |
Net Cash Flow | 194 | 124 | 413 | -120 | -474 | 473 | -462 | 2,440 | -1,069 | 640 | 540 | -82 |
Standalone Figures in ₹ Crores / Yearly
| 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 | 26 | 24 | 23 | 29 | 29 | 28 | 24 | 36 | 42 | 42 | 43 | 39 |
Inventory Days | 121 | 122 | 106 | 141 | 117 | 117 | 127 | 133 | 143 | 120 | 121 | 143 |
Days Payable | 109 | 89 | 88 | 107 | 99 | 94 | 79 | 120 | 95 | 69 | 77 | 76 |
Cash Conversion Cycle | 38 | 57 | 42 | 62 | 47 | 51 | 72 | 49 | 91 | 93 | 88 | 106 |
Working Capital Days | -2 | 7 | 14 | 30 | 25 | 20 | 39 | 41 | 67 | 62 | 57 | 59 |
ROCE % | 50% | 49% | 47% | 41% | 39% | 37% | 36% | 36% | 32% | 36% | 40% | 27% |
Direct from BSE filings, auto-summarised
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