Asian Paints Ltd.

NSE: ASIANPAINT · Consumer Durables

₹2,546.00+0.88%06 Nov 2026

Ask the data

Instant answers about Asian Paints Ltd. — computed from its filings, no language model

Market cap₹2,44,212 cr

Current price₹2,546.00

High / Low₹2,968 / ₹2,121

P/E50.5

P/B11.24

Book value₹226.6

ROE22.3%

ROCE27.3%

Debt / equity0.13

Dividend yield0.99%

EPS (TTM)₹50.45

Face value₹1

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	17,262	19,350	20,211	21,713	29,101	34,489	35,495	33,906	35,584
EBITDA	3,198	3,525	4,162	4,856	4,804	6,260	7,585	6,006	6,696
Operating margin	18.5%	18.2%	20.6%	22.4%	16.5%	18.2%	21.4%	17.7%	18.8%
Interest	35	51	102	92	95	144	205	227	195
Depreciation	360	431	780	791	816	858	853	1,026	1,229
Profit before tax	3,023	3,270	3,583	4,276	4,156	5,595	7,215	4,962	5,838
Tax	1,041	1,099	855	1,098	-4,980	1,494	1,790	1,393	1,609
Net profit	2,039	2,159	2,705	3,139	3,031	4,106	5,460	3,667	4,325
EPS ₹	21.26	22.51	28.20	32.73	31.59	42.83	56.95	38.25	45.12
Operating cash flow	—	—	—	—	986	4,193	6,104	4,424	7,088
Capex	—	—	—	—	551	1,446	2,496	1,830	1,487
Dividend paid	—	—	—	—	1,763	1,936	2,551	3,140	2,425
Total assets	13,783	16,278	16,155	20,370	22,984	25,798	29,924	30,371	34,534
Equity	8,410	9,471	10,130	12,806	13,812	15,992	18,728	19,400	21,372

Quarterly performance

last 35 quarters · ₹ crore

showing latest 8 of 35 periods

	MAR '18	JUN '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	4,492	4,399	4,639	5,294	5,018	5,131	5,051	5,420	4,636	2,923	5,350	6,788	6,651	5,585	7,096	8,527	7,893	8,607	8,458	8,637	8,787	9,182	8,479	9,103	8,731	8,970	8,028	8,549	8,359	8,939	8,531	8,867	9,247	10,542	9,977
Operating profit	840	874	784	1,043	823	1,156	955	1,189	860	484	1,265	1,788	1,318	914	904	1,542	1,443	1,556	1,228	1,611	1,865	2,121	1,716	2,056	1,691	1,694	1,240	1,637	1,436	1,625	1,503	1,781	1,787	2,169	1,557
Operating margin	18.7%	19.9%	16.9%	19.7%	16.4%	22.5%	18.9%	21.9%	18.5%	16.6%	23.6%	26.3%	19.8%	16.4%	12.7%	18.1%	18.3%	18.1%	14.5%	18.7%	21.2%	23.1%	20.2%	22.6%	19.4%	18.9%	15.4%	19.1%	17.2%	18.2%	17.6%	20.1%	19.3%	20.6%	15.6%
Other income	39	62	63	45	57	74	105	70	56	47	83	98	75	90	138	72	80	99	95	87	105	197	165	139	187	156	174	143	100	193	199	161	171	241	248
Interest	9	9	12	15	15	27	26	24	26	20	21	21	30	21	24	27	23	29	35	41	39	46	51	54	54	55	63	56	53	44	44	48	59	48	55
Depreciation	91	90	95	115	130	193	197	197	194	191	194	193	213	201	203	208	205	208	216	214	220	198	209	220	226	228	242	256	301	301	305	313	310	304	314
Profit before tax	779	837	741	958	734	1,010	837	1,038	695	320	1,134	1,672	1,150	781	816	1,379	1,180	1,442	1,072	1,443	1,686	2,074	1,622	1,920	1,599	1,567	928	1,468	999	1,472	1,353	1,423	1,589	2,058	1,436
Tax	288	277	243	326	253	351	7	278	219	86	294	431	286	204	221	362	315	371	290	381	451	530	419	493	349	417	265	390	321	392	373	415	429	536	392
Net profit	481	558	493	636	473	655	823	764	462	218	830	1,238	852	568	596	1,016	850	1,017	783	1,073	1,234	1,550	1,205	1,448	1,257	1,170	695	1,110	692	1,100	994	1,060	1,172	1,539	1,068
EPS ₹	5.01	5.82	5.14	6.63	4.93	6.83	8.58	7.97	4.82	2.28	8.66	12.91	8.88	5.93	6.21	10.59	8.87	10.60	8.16	11.19	12.87	16.17	12.57	15.10	13.11	12.20	7.25	11.58	7.22	11.47	10.37	11.06	12.23	16.06	11.14
Revenue YoY	—	—	—	—	11.7%	16.6%	8.9%	2.4%	-7.6%	-43.0%	5.9%	25.2%	43.5%	91.1%	32.6%	25.6%	18.7%	54.1%	19.2%	1.3%	11.3%	6.7%	0.2%	5.4%	-0.6%	-2.3%	-5.3%	-6.1%	-4.3%	-0.3%	6.3%	3.7%	10.6%	17.9%	16.9%
Profit YoY	—	—	—	—	-1.6%	17.5%	67.1%	20.3%	-2.4%	-66.7%	0.8%	62.0%	84.5%	160.2%	-28.2%	-18.0%	-0.2%	78.9%	31.3%	5.6%	45.1%	52.5%	54.0%	35.0%	1.8%	-24.5%	-42.4%	-23.3%	-44.9%	-6.0%	43.0%	-4.6%	69.3%	40.0%	7.5%

Earlier results (standalone, Sep '07 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Asian Paints Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 9 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	4,270	5,125	6,322	7,951	8,972	10,419	11,649	12,646	14,360
Operating profit	561	1,010	1,144	1,340	1,547	1,777	2,012	2,480	2,671
Operating margin	13.1%	19.7%	18.1%	16.8%	17.2%	17.1%	17.3%	19.6%	18.6%
Other income	60	144	88	155	126	174	186	225	301
Interest	10	14	15	31	31	26	27	23	19
Depreciation	57	61	94	99	127	212	223	238	295
Profit before tax	552	1,105	1,123	1,364	1,516	1,703	1,934	2,378	2,658
Tax	190	330	348	405	466	534	606	780	855
Net profit	362	774	775	958	1,050	1,169	1,327	1,597	1,803

Quarters

showing latest 8 of 42 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	891	916	869	995	1,168	1,006	1,100	1,165	1,386	1,278	1,296	1,491	1,469	1,754	1,607	1,922	1,844	2,110	2,076	2,056	2,146	2,537	2,233	2,320	2,532	2,843	2,724	2,741	2,996	3,025	2,887	2,938	3,065	3,424	3,219	3,408	3,553	3,637	3,762	3,595	3,602	3,587
Operating profit	151	154	132	144	180	80	158	244	278	260	228	301	289	302	254	357	283	363	337	405	337	451	354	419	456	478	424	490	481	540	501	606	539	715	620	730	631	671	639	597	720	818
Operating margin	17.0%	16.8%	15.3%	14.4%	15.4%	7.9%	14.4%	21.0%	20.0%	20.4%	17.6%	20.2%	19.6%	17.2%	15.8%	18.6%	15.3%	17.2%	16.3%	19.7%	15.7%	17.8%	15.9%	18.1%	18.0%	16.8%	15.6%	17.9%	16.1%	17.9%	17.3%	20.6%	17.6%	20.9%	19.3%	21.4%	17.8%	18.4%	17.0%	16.6%	20.0%	22.8%
Other income	26	17	11	16	18	17	9	16	86	22	19	17	25	21	25	31	49	26	49	25	23	34	44	52	48	35	39	49	50	37	49	76	58	47	44	79	85	52	85	86	64	68
Interest	3	3	1	2	3	3	3	3	3	4	4	2	2	4	7	4	7	6	14	8	10	6	7	5	6	6	9	4	6	8	9	3	5	6	10	4	4	5	6	4	5	5
Depreciation	11	11	11	12	14	16	15	15	15	15	16	23	24	24	24	24	25	25	26	27	29	30	40	53	52	54	54	55	56	57	56	58	58	60	62	74	73	75	74	76	77	78
Profit before tax	164	157	131	146	179	78	149	243	352	263	247	294	287	295	248	360	300	357	347	395	321	449	351	414	447	452	390	454	469	513	498	622	534	631	591	731	639	644	645	603	702	803
Tax	55	49	46	48	58	28	57	78	98	84	70	93	91	88	76	109	87	107	102	120	97	137	111	130	136	145	123	146	143	160	158	194	170	212	204	230	203	218	204	202	228	274
Net profit	108	108	85	98	122	50	93	164	254	179	177	201	196	207	171	250	213	250	245	275	224	312	240	284	311	307	267	309	326	353	340	428	364	418	387	501	435	426	441	401	473	529
EPS ₹	11.31	11.23	8.85	10.22	12.69	5.22	9.65	17.14	26.91	18.63	18.46	20.95	20.45	21.54	17.87	26.11	22.20	26.11	25.50	28.63	23.33	32.53	24.98	29.60	3.24	3.21	2.78	3.22	3.39	3.68	3.54	4.46	3.80	4.36	4.03	5.23	4.54	4.44	4.60	4.18	4.94	5.51
Revenue YoY	—	—	—	—	31.1%	9.8%	26.7%	17.0%	18.7%	27.0%	17.8%	28.0%	6.0%	37.3%	24.0%	28.9%	25.5%	20.3%	29.1%	7.0%	16.4%	20.3%	7.5%	12.8%	18.0%	12.1%	22.0%	18.2%	18.3%	6.4%	6.0%	7.2%	2.3%	13.2%	11.5%	16.0%	15.9%	6.2%	16.9%	5.5%	1.4%	-1.4%
Profit YoY	—	—	—	—	12.2%	-53.5%	9.1%	67.8%	109.0%	256.6%	91.3%	22.2%	-22.9%	15.6%	-3.2%	24.6%	8.5%	21.2%	42.7%	9.7%	5.1%	24.6%	-2.1%	3.4%	38.8%	-1.5%	11.5%	8.8%	4.9%	14.8%	27.2%	38.5%	11.9%	18.4%	13.9%	17.2%	19.4%	1.8%	13.9%	-20.0%	8.8%	24.2%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 32 periods

	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	25.8%	22.8%	23.8%	27.3%	28.7%	26.7%	22.4%	22.5%	27.1%	24.5%	27.2%	25.4%	23.7%	21.9%	25.2%	26.0%	26.4%	25.7%	29.0%	30.6%	32.8%	29.2%	27.1%	25.4%	23.5%	18.9%	18.5%	19.9%	19.6%	20.2%	22.3%	22.3%
ROCE	37.6%	32.9%	34.8%	35.9%	36.8%	35.2%	28.5%	31.3%	37.3%	33.2%	36.7%	34.3%	32.1%	29.1%	33.7%	34.4%	34.9%	34.1%	37.9%	39.6%	42.4%	37.4%	34.9%	32.6%	30.2%	25.6%	25.1%	25.5%	25.2%	25.5%	28.0%	27.3%
Net margin	11.5%	11.2%	11.2%	12.6%	13.2%	13.4%	12.6%	12.4%	14.0%	14.5%	14.3%	12.5%	10.9%	10.4%	10.8%	10.9%	11.1%	11.9%	13.2%	14.4%	15.3%	15.4%	14.4%	13.1%	12.3%	10.8%	10.6%	11.3%	11.1%	12.2%	12.8%	12.5%
EBITDA margin	18.8%	18.2%	19.0%	19.4%	20.0%	20.6%	19.3%	20.7%	22.3%	22.4%	21.7%	18.9%	16.8%	16.5%	17.0%	17.2%	17.4%	18.2%	19.5%	20.8%	21.8%	21.4%	20.3%	19.2%	18.3%	17.7%	17.5%	18.0%	18.3%	18.8%	19.5%	18.9%
Debt / equity	0.06	0.07	0.07	0.07	0.07	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.06	0.06	0.07	0.07	0.06	0.06	0.07	0.07	0.06	0.06	0.06	0.06	0.04	0.04	0.10	0.10	0.11	0.11	0.13
Interest coverage	74.96	65.12	50.92	43.75	40.31	35.96	31.17	36.27	44.70	47.66	51.94	46.87	41.20	44.56	47.92	45.42	41.08	40.07	39.87	39.57	39.44	36.16	32.23	27.50	25.36	22.86	23.52	27.87	28.75	30.87	33.32	31.94
Asset turnover	1.37	1.19	1.23	1.26	1.27	1.25	1.12	1.13	1.22	1.07	1.20	1.28	1.37	1.27	1.40	1.38	1.39	1.34	1.36	1.28	1.30	1.19	1.18	1.18	1.16	1.12	1.12	1.10	1.11	1.03	1.08	1.07

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	96	96	96	96	96	96	96	96	96	96	96	96	96	96	96	96	96	96
Other equity / reserves	3,697	4,383	6,429	7,506	8,314	9,375	10,034	12,710	13,716	14,007	15,896	16,466	18,632	17,928	19,304	19,483	21,276	21,639
Total equity	3,793	4,479	6,525	7,602	8,410	9,471	10,130	12,806	13,812	14,103	15,992	16,562	18,728	18,024	19,400	19,579	21,372	21,735
Borrowings	240	410	304	546	521	616	340	349	776	996	972	1,098	1,107	1,123	864	1,957	2,293	2,900
Current liabilities	3,459	3,519	3,149	3,885	4,451	5,180	4,380	5,926	7,571	8,418	7,896	8,372	8,501	8,817	8,141	8,199	9,137	9,977
Non-current liabilities	334	389	503	557	594	1,266	1,241	1,215	1,214	1,292	1,456	1,872	1,999	1,973	2,171	2,949	3,382	3,829
Total assets	8,078	8,915	10,561	12,420	13,783	16,278	16,155	20,370	22,984	24,242	25,798	27,422	29,924	29,474	30,371	31,349	34,534	36,215
Property, plant & equipment	2,331	2,290	3,056	2,957	3,118	5,030	4,765	4,476	4,184	5,164	5,355	5,503	6,302	7,199	8,631	8,646	9,165	10,159
Capital work-in-progress	72	196	107	258	1,405	210	140	183	426	335	1,020	1,999	2,698	2,272	1,254	1,766	1,849	1,040
Investments	1,424	1,588	1,860	1,671	2,141	2,569	2,019	4,737	3,248	3,083	4,262	4,641	4,588	3,695	4,725	5,431	7,062	6,389
Inventories	2,070	2,259	1,998	2,627	2,658	3,150	3,390	3,799	6,153	7,210	6,211	6,082	5,923	6,474	6,719	6,011	5,744	7,263
Receivables	1,110	1,182	1,192	1,447	1,737	1,913	1,799	2,605	3,874	4,077	4,639	4,449	4,891	4,707	4,322	4,432	4,467	5,052
Cash & equivalents	229	204	337	582	312	276	564	346	622	454	523	553	829	454	445	599	673	260

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 13 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	1,402	1,188	2,243	1,527	2,113	2,470	3,038	3,683	986	4,193	6,104	4,424	7,088
Cash from investing	-605	-478	-866	-656	-1,599	-944	-521	-548	-322	-1,275	-2,518	-874	-1,334
Cash from financing	-626	-576	-849	-756	-1,379	-1,117	-2,871	-650	-1,808	-2,140	-2,982	-3,753	-2,377
Capex	251	454	817	684	1,426	1,151	404	282	551	1,446	2,496	1,830	1,487
Free cash flow	1,151	734	1,426	843	687	1,319	2,635	3,401	436	2,748	3,608	2,594	5,601
Dividends paid	—	—	—	—	—	—	—	—	1,763	1,936	2,551	3,140	2,425

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹10,159 cr28%

CWIP

₹1,040 cr3%

Investments

₹6,389 cr18%

Inventories

₹7,263 cr20%

Receivables

₹5,052 cr14%

Cash & equivalents

₹260 cr1%

Other assets

₹6,052 cr17%

Peer comparison

largest in Consumer Durables · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Titan Company Ltd.	4,43,900	5,000.00	63.1	24.31	38.5%
Asian Paints Ltd.	2,44,212	2,546.00	50.5	11.24	22.3%
LG Electronics India Ltd.	1,19,063	1,754.10	61.9	13.52	21.8%
Dixon Technologies (India) Ltd.	77,202	12,625.00	49.8	13.13	26.4%
Havells India Ltd.	70,793	1,128.00	42.6	7.24	17.0%
Kalyan Jewellers India Ltd.	61,009	590.75	42.5	9.67	22.7%
Berger Paints India Ltd.	55,776	478.35	45.5	7.88	17.3%
Voltas Ltd.	36,355	1,099.00	80.9	5.70	7.0%
Blue Star Ltd.	32,382	1,575.00	60.6	9.29	15.3%
Amber Enterprises India Ltd.	22,582	6,403.00	235.1	5.16	2.2%

StoxGud checklist: Bullish setup · 7/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+7.3%

6 months+0.6%

1 year+0.3%

3Y CAGR-5.6%

5Y CAGR-4.1%

10Y CAGR+9.4%

50-day avg₹2,424.96

200-day avg₹2,512.37

RSI (14)74

Long-term financials (FY12–FY15)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY15	₹14,183 Cr	₹2,077 Cr	₹1,395 Cr
FY14	₹12,715 Cr	₹1,834 Cr	₹1,219 Cr
FY13	₹10,971 Cr	₹1,655 Cr	₹1,160 Cr
FY12	₹9,632 Cr	₹1,454 Cr	₹989 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

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FAQs

What is the share price of Asian Paints Ltd.?

Asian Paints Ltd. (ASIANPAINT) closed at ₹2,546.00 on NSE on 06 Nov 2026.

What is the market cap of Asian Paints Ltd.?

₹2,44,212 crore at the latest close.

What is the P/E ratio of Asian Paints Ltd.?

50.5, on trailing-twelve-month earnings from its filings.

How fast is Asian Paints Ltd. growing?

Asian Paints Ltd.: revenue has compounded at 1.0% a year over three years; net profit at 1.7% a year. Latest-quarter revenue is up 16.9% year on year, profit up 7.5%.

How profitable is Asian Paints Ltd.?

On a trailing-twelve-month basis return on equity is 22.3%, return on capital employed 27.3%, operating margin 18.9%, net margin 12.5%.

How much debt does Asian Paints Ltd. have?

Asian Paints Ltd. is lightly geared: debt to equity is 0.13 with borrowings of ₹2,900 cr against cash of ₹260 cr (balance sheet of 2026-09-30). Operating profit covers interest 31.9 times.

Financials parsed from Asian Paints Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.