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Asian Paints Ltd. (IN:ASIANPAINT)
:ASIANPAINT
India Market
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Asian Paints Ltd. (ASIANPAINT) AI Stock Analysis

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IN:ASIANPAINT

Asian Paints Ltd.

(ASIANPAINT)

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Neutral 67 (OpenAI - 4o)
Rating:67Neutral
Price Target:
₹2,615.00
▲(2.97% Upside)
Asian Paints Ltd. has a solid financial foundation with strong revenue growth and a robust balance sheet. However, technical indicators show mixed signals, and the high P/E ratio suggests potential overvaluation. The absence of earnings call data and corporate events limits further insights.

Asian Paints Ltd. (ASIANPAINT) vs. iShares MSCI India ETF (INDA)

Asian Paints Ltd. Business Overview & Revenue Model

Company DescriptionAsian 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 decorative coatings for interior and exterior walls, metal finishes, and wood finishes; paints; wall coverings; textures painting aid; waterproofing; wall stickers; mechanised tools; adhesives; modular kitchens; wardrobes; bath fittings and sanitaryware; home décor products; sanitizers and surface disinfectants; furniture, furnishings; and lightings, as well as enamels and thinners. The company offers its products under the Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans, and Kadisco Asian Paints through a network of dealers and retail stores, as well as operates asianpaints.com, an online shop. Asian Paints Limited was founded in 1942 and is headquartered in Mumbai, India.
How the Company Makes MoneyAsian Paints generates revenue primarily through the sale of its wide array of paint products, which includes decorative paints, industrial coatings, and allied products. The company has established a robust distribution network that enables it to reach a large customer base across urban and rural areas. Key revenue streams include retail sales through a vast network of dealers, direct sales to contractors and builders, and exports to international markets. Additionally, Asian Paints has formed strategic partnerships with various home improvement and construction companies, enhancing its market presence and driving sales. The company's focus on innovation and product development, along with effective marketing strategies, further contributes to its earnings.

Asian Paints Ltd. Financial Statement Overview

Summary
Asian Paints Ltd. exhibits strong financial health with consistent revenue growth and profitability. The balance sheet is robust with low leverage, though recent declines in revenue and operating cash flow need attention.
Income Statement
78
Positive
Asian Paints Ltd. has demonstrated strong growth and profitability in its income statement. The company has shown consistent revenue growth, with a notable increase from 2020 to 2024. The gross profit margin and net profit margin are robust, indicating effective cost management and profitability. However, there was a decline in revenue and profitability from 2024 to 2025, which slightly impacts the overall strength of the income statement.
Balance Sheet
82
Very Positive
Asian Paints Ltd. maintains a solid balance sheet with a healthy equity ratio and manageable debt levels. The debt-to-equity ratio is low, reflecting financial stability and low leverage. The company's return on equity is strong, showcasing effective use of equity to generate profits. The growth in stockholders' equity over the years underscores the company's financial stability and capability to sustain operations.
Cash Flow
75
Positive
The company's cash flow statement indicates strong operating cash flows and a positive free cash flow trajectory. Despite a decrease in operating cash flow from 2024 to 2025, the company's free cash flow remains positive, allowing for reinvestment and financial flexibility. The operating and free cash flow to net income ratios are healthy, though there is room for improvement in cash flow management to ensure more consistent growth.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue338.41B338.59B354.38B344.30B289.82B215.04B
Gross Profit141.63B141.50B151.76B131.12B105.48B92.99B
EBITDA55.06B56.04B72.33B60.20B45.39B46.13B
Net Income35.97B36.67B54.60B41.06B30.31B31.39B
Balance Sheet
Total Assets0.00303.71B299.24B257.98B229.84B203.70B
Cash, Cash Equivalents and Short-Term Investments46.92B46.88B54.26B46.31B40.25B47.61B
Total Debt0.0022.90B24.74B19.33B15.87B10.93B
Total Liabilities-200.59B103.12B105.00B93.52B87.85B71.40B
Stockholders Equity200.59B194.00B187.28B159.92B138.12B128.06B
Cash Flow
Free Cash Flow0.0025.94B36.08B27.48B4.36B33.95B
Operating Cash Flow0.0044.24B61.04B41.93B9.86B36.83B
Investing Cash Flow0.00-8.74B-25.18B-12.75B-3.22B-5.48B
Financing Cash Flow0.00-37.53B-29.82B-21.40B-18.08B-6.50B

Asian Paints Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price2539.65
Price Trends
50DMA
2470.81
Positive
100DMA
2421.16
Positive
200DMA
2351.69
Positive
Market Momentum
MACD
24.57
Negative
RSI
66.42
Neutral
STOCH
88.88
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 2539.65 is above the 20-day moving average (MA) of 2414.99, above the 50-day MA of 2470.81, and above the 200-day MA of 2351.69, indicating a bullish trend. The MACD of 24.57 indicates Negative momentum. The RSI at 66.42 is Neutral, neither overbought nor oversold. The STOCH value of 88.88 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

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
₹944.05B57.021.45%16.58%9.72%
₹902.10B50.611.58%-0.03%-5.22%
₹1.55T71.900.33%7.96%19.33%
₹2.41T66.840.98%-3.99%-29.17%
₹935.29B63.910.66%7.26%3.66%
$20.33B14.63-3.31%3.23%1.93%-12.26%
₹1.16T62.481.81%5.12%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:ASIANPAINT
Asian Paints Ltd.
2,539.65
-424.87
-14.33%
IN:DABUR
Dabur India Limited
508.00
-30.73
-5.70%
IN:GODREJCP
Godrej Consumer Products Limited
1,106.40
-171.58
-13.43%
IN:HAVELLS
Havells India Limited
1,509.45
-140.84
-8.53%
IN:MARICO
Marico Limited
721.80
80.88
12.62%
IN:PIDILITIND
Pidilite Industries Limited
1,507.00
-55.19
-3.53%

Asian Paints Ltd. Corporate Events

Asian Paints Begins Production at UAE White Cement Facility
Oct 12, 2025

Asian Paints Ltd. has announced that its subsidiary, Asian White Inc. FZE, has commenced commercial production at its manufacturing facility in Fujairah, UAE. This development is part of the company’s strategic initiative to enter the white cement market, with an initial production capacity of 265,000 tons per annum. The move is expected to enhance the company’s product offerings and strengthen its position in the international market, potentially impacting stakeholders by expanding its operational footprint and market reach.

Asian Paints Extends Joint Venture with PPG Group for 15 Years
Aug 4, 2025

Asian Paints Ltd. has announced the extension of its joint venture agreements with the PPG Group, USA, for an additional 15 years. This renewal allows the joint ventures, PPG Asian Paints Private Limited and Asian Paints PPG Private Limited, to continue serving various sectors with advanced coating solutions. The extension does not alter the management or control of the companies, ensuring stability for stakeholders.

Asian Paints Renews Joint Venture with PPG Group for 15 Years
Aug 4, 2025

Asian Paints Limited has announced the renewal of its joint venture agreements with PPG Group, USA, extending their partnership for another 15 years. This renewal allows their joint ventures, PPG Asian Paints Private Limited and Asian Paints PPG Private Limited, to continue serving various sectors with industry-leading solutions. The renewal does not materially impact the company’s management or control, maintaining the existing shareholding and management structure.

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.Date of analysis: Oct 17, 2025