Whalesbook
рднрд╛рд░рдд рдиреЗ рджрдХреНрд╖рд┐рдг рдХреЛрд░рд┐рдпрд╛, рддрд╛рдЗрд╡рд╛рди, рд╕рдКрджреА рдЕрд░рдм рдФрд░ рдЪреАрди рд╕реЗ рдЖрдпрд╛рддрд┐рдд рд▓рд┐рдХреНрд╡рд┐рдб рдПрдкреЙрдХреНрд╕реА рд░реЗрдЬрд┐рди рдкрд░ рдкрд╛рдВрдЪ рд╕рд╛рд▓ рдХреА рдПрдВрдЯреА-рдбрдВрдкрд┐рдВрдЧ рдбреНрдпреВрдЯреА рд▓рдЧрд╛рдИ рд╣реИред рдЗрд╕рдХрд╛ рдЙрджреНрджреЗрд╢реНрдп рдШрд░реЗрд▓реВ рдирд┐рд░реНрдорд╛рддрд╛рдУрдВ рдХреЛ рд╕рд╕реНрддреЗ рдЖрдпрд╛рдд рд╕реЗ рдмрдЪрд╛рдирд╛ рд╣реИред рдПрдХ рдирд┐рд░реНрдорд╛рддрд╛, рдЕрддреБрд▓ рд▓рд┐рдорд┐рдЯреЗрдб, рдХреЛ рд▓рд╛рдн рдорд┐рд▓рдиреЗ рдХреА рдЙрдореНрдореАрдж рд╣реИ, рдЬрдмрдХрд┐ рдПрд╢рд┐рдпрди рдкреЗрдВрдЯреНрд╕ рд▓рд┐рдорд┐рдЯреЗрдб рдФрд░ рдмрд░реНрдЬрд░ рдкреЗрдВрдЯреНрд╕ (рдЗрдВрдбрд┐рдпрд╛) рд▓рд┐рдорд┐рдЯреЗрдб рдЬреИрд╕реА рдкреЗрдВрдЯ рдХрдВрдкрдирд┐рдпреЛрдВ рдХреЛ рднрд╡рд┐рд╖реНрдп рдХреА рдШрд░реЗрд▓реВ рдХреАрдорддреЛрдВ рдХреЗ рдЖрдзрд╛рд░ рдкрд░ рд▓рд╛рдн рд╣реЛрдЧрд╛ред
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 | 2876.60 | 69.41 | 275985.56 | 0.86 | 955.56 | 29.59 | 7356.29 | 5.59 | 27.26 | 29834.98 | 19.15 | 3976.45 | 955.56 | 14.48 | 14.65 | 0.08 |
| 2. | Berger Paints | 579.55 | 61.11 | 67557.98 | 0.66 | 206.38 | -23.50 | 2827.49 | 1.91 | 24.90 | 11707.34 | 15.21 | 1105.49 | 206.29 | 10.76 | 13.39 | 0.11 |
| 3. | Kansai Nerolac | 232.80 | 28.90 | 18812.77 | 1.07 | 133.31 | 9.89 | 1954.18 | 0.14 | 13.03 | 7854.75 | 11.70 | 651.00 | 134.93 | 2.91 | 7.57 | 0.04 |
| 4. | Akzo Nobel | 3385.00 | 39.56 | 15445.89 | 2.95 | 1682.70 | -14.84 | 834.90 | -15.01 | 41.66 | 3902.60 | 14.63 | 390.47 | 83.37 | 6.84 | 14.76 | 0.03 |
| 5. | Indigo Paints | 1281.20 | 42.10 | 6114.75 | 0.27 | 25.53 | 5.85 | 298.50 | 3.45 | 19.51 | 1288.05 | 18.06 | 145.25 | 25.53 | 5.62 | 11.15 | 0.02 |
| 6. | Sirca Paints | 521.60 | 51.14 | 2962.60 | 0.29 | 18.10 | 36.30 | 131.17 | 24.38 | 19.98 | 435.04 | 19.40 | 57.93 | 18.10 | 6.69 | 12.27 | 0.10 |
| 7. | Shalimar Paints | 68.34 | тАУ | 578.38 | 0.00 | -14.14 | 27.93 | 133.81 | -7.55 | -12.80 | 614.36 | -5.95 | -64.41 | -14.14 | 2.01 | -11.69 | 0.67 |
| тАУ | Median: 10 Co. | 377.2 | 42.1 | 4538.68 | 0.47 | 21.82 | 7.87 | 216.16 | 3.5 | 19.75 | 951.2 | 14.92 | 101.59 | 21.82 | 4.66 | 11.71 | 0.09 |
Standalone figures in тВ╣ 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 тВ╣ 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% | тАУ |
Standalone figures in тВ╣ 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 | тАУ |
Accumulated Depreciation | 969 | 1,137 | 234 | 526 | 832 | 1,364 | 1,889 | 2,225 | 2,736 | 3,436 | 3,962 | 4,513 | тАУ |
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 тВ╣ 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 тВ╣ 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% |
Nov 2025
Aug 2025
May 2025
Feb 2025
Nov 2024
Jul 2024
May 2024
Jan 2024
Oct 2023
Jul 2023
May 2023
Jan 2023
Jan 2023
Oct 2022
Jul 2022
Jun 2022
Jun 2022
May 2022
Apr 2022
Jan 2022
Oct 2021
Jul 2021
May 2021
Mar 2021
Jan 2021
Nov 2020
Oct 2020
Aug 2020
Sep 2019
Aug 2019
Jun 2019
May 2019
Feb 2019
Dec 2018
May 2018
Feb 2018
Nov 2017
Sep 2017
May 2017