NSE: ASIANPAINT · BSE: 500820 · ISIN INE021A01026
Asian Paints Limited stock analysis
Asian Paints Limited ranks #529 in the TickerSutra evidence-ranked universe with a score of 63/100 and 95% data confidence. The latest captured fundamentals show ROCE of 26.3%, quarterly sales growth of 17.9% and quarterly profit growth of 40.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 26.3%
- Low debt/equity of 0.18×
- Strong CFO/EBITDA of 1.06×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
Risks and constraints
- Promoter pledge is 9.5% of promoter holding
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹29,101cr | ₹4,804cr | ₹3,085cr | 17.0% |
| 2023 | ₹34,489cr | ₹6,260cr | ₹4,195cr | 18.0% |
| 2024 | ₹35,495cr | ₹7,585cr | ₹5,558cr | 21.0% |
| 2025 | ₹33,906cr | ₹6,006cr | ₹3,710cr | 18.0% |
| 2026 | ₹35,584cr | ₹6,700cr | ₹4,395cr | 19.0% |
| TTM | ₹37,187cr | ₹7,240cr | ₹4,837cr | 19.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on September 18, 2026 for Smiti Holding and ....
RoutineGeneral UpdatesNSE · 19 Sept 2026Find enclosed the intimation with respect to ESG rating received by the Company from Niche Ninety Nine Capability and Certifications (OPC) Private Limited
RoutineAsian Paints Ltd - 500820 - ESG RatingBSE · 19 Sept 2026Find enclosed the intimation with respect to ESG rating received by the Company from Niche Ninety Nine Capability and Certifications (OPC) Private Limited
RoutineAsian Paints Ltd - 500820 - Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.BSE · 12 Sept 2026The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on September 11, 2026 for Smiti Holding and ....
RoutineAppointmentNSE · 10 Sept 2026Asian Paints Limited has informed the Exchange regarding shareholders' approval for appointment of Ms Shubhlakshmi Dani as Non- Executive Director of the company w.e.f. July 29, 2026.
MANAGEMENT COMMENTARY
Signals from filed documents
The difference between the value and volume, it seems that the mix is a +1% versus -4%, that was indicated in the last quarter. When one links this to the gross margin expansion, which saw the start of high raw material prices, it seems that sales from putty, etc, have been negligible. Or would there be higher sales from exterior paints and premium paints that is leading to this better mix improvement and gross margi
This is another important area that we are focused on as we continue to grow the business. I spoke about backward integration. We have already completed our white cement plant, which is now fully operational and running at very good capacities in Fujairah, UAE.
If you look at the value, the decorative value has grown at a very good pitch of about 16.6%, albeit on a lower base. Overall, it has grown at a very good pitch overall, to some extent aided by some of the price increases as well, possibly a weighted price increase of about 6.8% or so of what is captured in it. Overall, 10 | it's been a strong month where we have looked at improving the product mix, looking at the wh
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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