Asian Paints Limited
NSE: ASIANPAINT · Paints · sector
₹2,322.00NSE close 2026-10-26
Key numbers
Market cap₹2,22,726 cr
Price₹2,322.00
52w high / low₹2,986 / ₹2,115
P/E46.7xSector median 34.4x
P/B10.4xSector median 4.2x
Book value₹222.8
Dividend yield1.09%Sector median 0.96%
ROE23.4%Sector median 14.9%
ROCE28.0%Sector median 18.6%
OPM19.0%Sector median 15.5%
Debt / equity0.11xSector median 0.08x
EV/EBITDA30.7xSector median 19.8x
Interest cover33.3x
Current ratio2.21x
Sales growth 3y+1.1%Sector median +4.0%
Profit growth 3y+1.8%Sector median +9.4%
PEG26.67x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Paints (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹7,360 cr vs borrowings ₹2,293 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 33.3x in the last 12 months.
- 10.35% of the promoters' shares are pledged (5.5% of all shares).
- Operating cash flow was below net profit in 1 of the last 5 years (FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 16% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹2,322.00 on 2026-10-26: -22.2% from the 52-week high, +9.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹3,329.10 · low ₹2,121.30
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8,028 | 8,549 | 8,359 | 8,939 | 8,531 | 8,867 | 9,247 | 10,542 |
| EBITDA | 1,059 | 1,637 | 1,253 | 1,625 | 1,503 | 1,623 | 1,787 | 2,169 |
| OPM % | 13.2% | 19.1% | 15.0% | 18.2% | 17.6% | 18.3% | 19.3% | 20.6% |
| Other income | 174 | 143 | 100 | 193 | 199 | 161 | 171 | 241 |
| Net profit | 695 | 1,110 | 692 | 1,100 | 994 | 1,060 | 1,172 | 1,539 |
| EPS (₹) | 7.25 | 11.58 | 7.22 | 11.47 | 10.37 | 11.06 | 12.23 | 16.06 |
| Revenue YoY | +6.3% | +3.7% | +10.6% | +17.9% | ||||
| Profit YoY | +43.0% | -4.6% | +69.3% | +40.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 29,101 | 34,489 | 35,495 | 33,906 | 35,584 | 37,187 |
| EBITDA | 4,688 | 6,211 | 7,585 | 5,643 | 6,538 | 7,082 |
| Net profit | 3,031 | 4,106 | 5,460 | 3,667 | 4,325 | 4,765 |
| EPS (₹) | 31.59 | 42.83 | 56.95 | 38.25 | 45.12 | 49.72 |
| Revenue growth | +18.5% | +2.9% | -4.5% | +4.9% | +9.8% | |
| Profit growth | +35.5% | +33.0% | -32.8% | +17.9% | +32.5% | |
| Dividend / share (₹) | 18.15 | 19.90 | 26.40 | 32.40 | 25.05 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +1.0% | +10.4% | +9.8% |
| Net profit | +1.7% | +6.6% | +32.5% |
| EPS | +1.8% | +6.6% | – |
| Share price | – | -12.8% (2y) | -7.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 15,992 | 18,728 | 19,400 | 21,372 |
| Borrowings | – | 972 | 1,107 | 864 | 2,293 |
| Cash & equivalents | – | 3,541 | 4,287 | 4,027 | 7,360 |
| Total assets | – | 25,798 | 29,924 | 30,371 | 34,534 |
| Fixed assets | – | 5,355 | 6,302 | 8,631 | 9,165 |
| Capital work in progress | – | 1,020 | 2,698 | 1,254 | 1,849 |
| Investments | – | 783 | 801 | 872 | 120 |
| Receivables | – | 4,637 | 4,889 | 4,314 | 4,462 |
| Inventory | – | 6,211 | 5,923 | 6,719 | 5,744 |
| Payables | – | 3,635 | 3,831 | 3,848 | 3,863 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 986 | 4,193 | 6,104 | 4,424 | 7,088 |
| Cash from investing | -322 | -1,275 | -2,518 | -874 | -1,334 |
| Cash from financing | -1,808 | -2,140 | -2,982 | -3,753 | -2,377 |
| Capex | 551 | 1,446 | 2,496 | 1,830 | 1,487 |
| Free cash flow | 436 | 2,748 | 3,608 | 2,594 | 5,601 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 25.7% | 29.2% | 18.9% | 20.2% |
| ROCE % | – | 33.8% | 37.4% | 25.6% | 25.5% |
| Debtor days | – | 49 | 50 | 46 | 46 |
| Inventory days | – | 107 | 108 | 126 | 105 |
| Payable days | – | 63 | 70 | 72 | 70 |
| Cash conversion cycle (days) | – | 93 | 88 | 100 | 81 |
| Working capital days | – | 91 | 93 | 95 | 113 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 52.65% |
| FIIs | 13.76% |
| DIIs | 20.50% |
| of which Mutual funds | 9.93% |
| of which Insurance | 9.46% |
| Government | 0.00% |
| Public (non-institutions) | 13.02% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% | 52.63% | 52.65% |
| Promoter group | % |
|---|---|
| Sattva Holding and Trading Private Limited | 5.71% |
| Smiti Holding and Trading Company Private Limited | 5.38% |
| Geetanjali Trading and Investments Private Limited | 4.79% |
| Elcid Investments Limited | 2.95% |
| Shubhit Holdings Private Limited | 2.41% |
| Sudhanva Investments and Trading Company Private Limited | 1.98% |
| Rupen Investment & Industries Private Limited | 1.97% |
| Satyadharma Investments and Trading Company Private Ltd. | 1.91% |
| Castle Investment & Industries Private Limited | 1.61% |
| Lyon Investment & Industries Private Limited | 1.50% |
| Dipika Amar Vakil | 1.33% |
| Jaldhar Investments and Trading Company Private Limited | 1.30% |
| Late Abhay Arvind Vakil | 1.29% |
| Tru Trading and Investments Pvt Limited | 1.27% |
| Nehal Trading and Investments Private Limited | 1.16% |
| Public holders above 1% | % |
|---|---|
| Life Insurance Corporation of India | 7.98% |
| SBI Mutual Fund | 4.26% |
| ICICI Prudential Mutual Fund | 1.78% |
9,34,232 shareholders. Pledged: 10.35% of promoter shares.
Peers in Paints
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| ASIANPAINT | ₹2,22,726 cr | 46.7x | 10.4x | 23.4% | 28.0% | 19.0% | +1.1% | 1.09% |
| BERGEPAINT | ₹54,312 cr | 44.6x | 7.8x | 18.6% | 21.3% | 15.5% | +4.0% | 0.82% |
| KANSAINER | ₹14,447 cr | 24.1x | 2.1x | 9.1% | 12.5% | 11.3% | +2.2% | 2.10% |
| JSWDULUX | ₹12,700 cr | 6.5x | 5.2x | 103.8% | 96.8% | 65.0% | -1.8% | 6.67% |
| INDIGOPNTS | ₹4,872 cr | 30.3x | 4.2x | 14.9% | 19.3% | 18.2% | +9.4% | 0.34% |
| SIRCA | ₹2,331 cr | 34.4x | 4.9x | 16.2% | 18.6% | 19.7% | +22.5% | 0.35% |
| SHALPAINTS | ₹673 cr | – | 2.7x | -24.5% | -11.2% | -5.6% | +5.8% | – |
| KAMOPAINTS | ₹123 cr | – | 0.7x | -2.4% | -0.6% | 1.7% | -1.9% | – |
| RETINA | ₹43 cr | 67.1x | 2.2x | 3.3% | 12.1% | 11.8% | +29.4% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-06-23 | Dividend | Dividend - Rs 23 Per Share |
| 2025-11-18 | Dividend | Interim Dividend - Rs 4.50 Per Share |
| 2025-06-10 | Dividend | Dividend - Rs 20.55 Per Share |
| 2024-11-19 | Dividend | Interim Dividend - Rs 4.25 Per Share |
| 2024-06-11 | Dividend | Dividend - Rs 28.15 Per Share |
| 2023-11-03 | Dividend | Interim Dividend - Rs 5.15 Per Share |
| 2023-06-09 | Dividend | Dividend - Rs 21.25 Per Share |
| 2022-10-31 | Dividend | Interim Dividend - Rs 4.40 Per Share |
| 2022-06-09 | Dividend | Dividend - Rs 15.50 Per Share |
| 2021-10-28 | Dividend | Interim Dividend - Rs 3.65 Per Share |
| 2021-06-10 | Dividend | Dividend - Rs 14.50 Per Sh |
| 2020-10-28 | Dividend | Interim Dividend - Rs 3.35 Per Share |
| 2020-07-23 | Dividend | Annual General Meeting/Dividend - Rs 1.50 Per Share |
| 2020-03-03 | Dividend | Interim Dividend - Rs 7.15 Per Share |
| 2019-10-30 | Dividend | Interim Dividend - Rs 3.35 Per Sh |
| 2019-06-13 | Dividend | Dividend Rs -7.65 Per Share |
| 2018-10-29 | Dividend | Interim Dividend - Rs 2.85 Per Sh |
| 2018-06-14 | Dividend | Dividend- Rs 6.05 Per Share |
| 2017-10-31 | Dividend | Interim Dividend - Rs 2.65 Per Share (Purpose Revised) |
| 2017-06-15 | Dividend | Annual General Meeting/Dividend Rs 5.65 Per Share + Special Dividend Rs 2/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Sale of products: Manufacture/Purchase and sale of wide range of paints (Chemical and Chemical Products)
| Sector | Consumer Discretionary |
| Industry | Paints |
| Sub-industry | Paints |
| Symbol | ASIANPAINT |
| BSE code | 500820 |
| ISIN | INE021A01026 |
| Face value | ₹1.0 |
| Incorporated | 1945-10-24 |
| Website | www.asianpaints.com |
| Plants (India / abroad) | 13 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.