Asian Paints Ltd. (IN:ASIANPAINT)
:ASIANPAINT
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Asian Paints Ltd.
(ASIANPAINT)
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Rating:63Neutral
Price Target:
₹2,608.00
▼(-8.34% Downside)
Action:ReiteratedDate:11/13/25
Asian Paints Ltd. demonstrates strong financial performance with a robust balance sheet and consistent profitability, which is the most significant factor in its score. Technical analysis indicates bullish momentum but warns of overbought conditions. The high P/E ratio suggests potential overvaluation, which impacts the overall score.
Positive Factors
Brand and distribution reach
Asian Paints’ entrenched brand and extensive dealer/tinting network creates durable shelf share and frequent repeat purchases. This distribution and POS capability supports pricing power, cross‑sell of adjacent home‑improvement products, and high incremental ROIC over multiple cycles.
Negative Factors
Raw material cost exposure
Significant reliance on petroleum‑derived inputs makes margins structurally sensitive to oil and petrochemical cycles. Pricing pass‑through can lag, so sustained commodity volatility can compress margins and profitability for several quarters unless mix or pricing offsets are implemented.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand and distribution reach
Asian Paints’ entrenched brand and extensive dealer/tinting network creates durable shelf share and frequent repeat purchases. This distribution and POS capability supports pricing power, cross‑sell of adjacent home‑improvement products, and high incremental ROIC over multiple cycles.
Read all positive factors
Asian Paints Ltd. (ASIANPAINT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.34T
Dividend Yield0.89%
Average Volume (3M)29.62K
Price to Earnings (P/E)62.6
Beta (1Y)0.86
Revenue Growth1.22%
EPS Growth-9.12%
CountryIN
Employees9,482
SectorConsumer Defensive
Sector Strength42
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)11.05
Shares Outstanding959,197,750
10 Day Avg. Volume34,279
30 Day Avg. Volume29,620
Financial Highlights & Ratios
PEG Ratio-1.84
Price to Book (P/B)11.45
Price to Sales (P/S)6.56
P/FCF Ratio85.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,655.00Price Target Upside-6.68% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)49.58
Revenue Forecast (FY)₹381.88B
Asian Paints Ltd. Business Overview & Revenue Model
Company Description
Asian Paints Limited, together with its subsidiaries, manufactures, sells, and distributes paints and coatings for decorative and industrial use in India and internationally. It operates in Paints and Home Improvement segments. The company offers ...
How the Company Makes Money
Asian Paints primarily makes money by selling paints and coatings, with decorative (architectural) paints as the main revenue driver. Revenue is generated from (1) product sales in the decorative segment—interior and exterior wall paints, emulsion...
Asian Paints Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
75
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 343.51B | 338.59B | 354.38B | 344.30B | 289.82B | 215.04B |
| Gross Profit | 145.82B | 141.50B | 151.76B | 131.12B | 105.48B | 92.99B |
| EBITDA | 60.14B | 56.04B | 72.33B | 60.20B | 45.39B | 46.13B |
| Net Income | 38.96B | 36.67B | 54.60B | 41.06B | 30.31B | 31.39B |
Balance Sheet | ||||||
| Total Assets | 313.49B | 303.71B | 299.24B | 257.98B | 229.84B | 203.70B |
| Cash, Cash Equivalents and Short-Term Investments | 67.81B | 46.88B | 54.26B | 46.31B | 40.25B | 47.61B |
| Total Debt | 35.57B | 22.90B | 24.74B | 19.33B | 15.87B | 10.93B |
| Total Liabilities | 111.48B | 103.12B | 105.00B | 93.52B | 87.85B | 71.40B |
| Stockholders Equity | 195.79B | 194.00B | 187.28B | 159.92B | 138.12B | 128.06B |
Cash Flow | ||||||
| Free Cash Flow | 27.74B | 25.94B | 36.08B | 27.48B | 4.36B | 33.95B |
| Operating Cash Flow | 34.82B | 44.24B | 61.04B | 41.93B | 9.86B | 36.83B |
| Investing Cash Flow | -448.30M | -8.74B | -25.18B | -12.75B | -3.22B | -5.48B |
| Financing Cash Flow | -18.86B | -37.53B | -29.82B | -21.40B | -18.08B | -6.50B |
Asian Paints Ltd. Technical Analysis
Positive
2845.20
Price Trends
2319.39
Positive
2555.38
Negative
2514.94
Negative
Market Momentum
26.87
Negative
64.89
Neutral
96.38
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASIANPAINT, the sentiment is Positive. The current price of 2845.2 is above the 20-day moving average (MA) of 2261.09, above the 50-day MA of 2319.39, and above the 200-day MA of 2514.94, indicating a neutral trend. The MACD of 26.87 indicates Negative momentum. The RSI at 64.89 is Neutral, neither overbought nor oversold. The STOCH value of 96.38 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ASIANPAINT.
Asian Paints Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹1.01T | 54.57 | ― | 1.42% | 25.33% | 6.63% | |
68 Neutral | ₹1.40T | 61.03 | ― | 0.34% | 9.75% | 17.24% | |
66 Neutral | ₹783.08B | 39.88 | ― | 1.62% | 3.48% | 2.69% | |
66 Neutral | ₹778.33B | 44.00 | ― | 0.70% | 3.44% | 14.75% | |
63 Neutral | ₹2.34T | 62.63 | ― | 0.89% | 1.22% | -9.12% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | ₹1.09T | 62.79 | ― | 1.67% | 7.29% | ― |
* Consumer Defensive Sector Average
IN:ASIANPAINT
Asian Paints Ltd.
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2.55%
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Asian Paints Ltd. Corporate Events
NCLT clears Asian Paints merger of polymers subsidiary with parent
Mar 10, 2026
Asian Paints Limited has received sanction from the National Company Law Tribunal, Mumbai Bench, for the amalgamation of its wholly owned subsidiary Asian Paints (Polymers) Private Limited with the parent company. The scheme, effective from an app...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.