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Asian Paints Ltd

ASIANPAINT

NSE

₹2,330.70-0.05%19 Oct 2026

Reports

Building Materials Paints

Asian Paints Ltd

ASIANPAINT

NSE

₹2,330.70

-0.05%

19 Oct 2026

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Building Materials Paints

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Asian Paints is the company that turned paint - a product most people buy once every few years - into a consumer brand Indians choose daily, making it the undisputed leader in home décor in India and the world’s strongest paints brand. Founded in a Bombay garage in 1942, it has held the top spot in Indian paints since 1967 by doing one thing repeatedly: spotting a surface people care about, then building a brand, a distribution network, and a service around it before anyone else does. That same instinct - move early, build deep, then expand into the space around the surface - explains how a paint company came to sell modular kitchens, decorative lights, and waterproofing services, and why it now reaches 145,000+ retail touchpoints across India.

Business segments

Four engines at different stages - a decorative-paints cash cow that funds everything else, a services platform that locks in customers, a home-décor ecosystem being built for the next decade, and an industrial-coatings partnership that runs alongside - each constructed on the distribution and brand strength of the one before.

1. Decorative paints: the cash engine that built the brand

A portfolio spanning every price tier, a distribution network three to four times larger than any competitor’s, and a manufacturing backbone that is increasingly backward-integrated - together, this business generates the overwhelming majority of the company’s revenue and funds every new venture.

Covers every wall and wallet - the range runs from economy emulsions (about 70% of the total paint market) through premium “Royale” finishes to luxury Italian-imported textures, so a customer who enters at the bottom can be upgraded over a lifetime.
The distribution moat is physical - roughly 1,70,000 retail touchpoints, with more than 6,000 added in FY26 alone, give the company a presence comparable to large FMCG players and make it the default choice for the neighbourhood painter who influences most purchase decisions.
Backward integration lowers the cost and secures the supply - a white-cement plant in Fujairah (265,000 tonnes per year) now feeds the putty business, and a first-of-its-kind VAM-VAE complex at Dahej (150,000 MT VAE, 100,000 MT VAM) will produce a key paint raw material in-house from H1 FY27, reducing dependence on volatile global supply chains.
Brand building is institutionalised, not episodic - partnerships with BCCI cricket, a 25-year association with Kaun Banega Crorepati, and the “ColourNext” trend-forecasting platform now in its 23rd year mean the brand stays visible to consumers and influential with architects year-round.
Innovation is patent-protected - more than 160 patents cover both products and manufacturing processes, and new products contributed about 17% of revenue in FY26, making the portfolio hard for competitors to copy quickly.

2. Services: the lock-in that competitors cannot copy

A direct-to-consumer painting service reaching over 650 towns, backed by a trained workforce of more than 1,50,000 painters - the largest organised painting platform globally - turns a one-time product sale into a recurring relationship with a satisfaction score of roughly 77%.

Paid for the job, not just the can - “Beautiful Homes Painting Service” combines AI-based shade visualisation, supervised execution, and a post-completion delight score, so the customer buys an outcome rather than a tin of paint.
Training creates the workforce and the demand - 24 academies and 53 mobile units trained more than 9.45 lakh painters and contractors in FY26; a trained painter recommends the brand they were trained on, creating a self-reinforcing loop.
B2B services extend the model to factories and buildings - “Total Assure” monitors large-area painting for builders and housing societies, while “Metacare” uses data to predict corrosion and schedule maintenance for industrial clients, so the company earns from asset management, not just from paint supply.

3. Home décor: the next-decade bet on “share of space”

A curated ecosystem of kitchens, baths, lighting, windows, and furnishings sold through 74 experience stores and digital platforms - still small at about 4% of decorative revenue, but built to capture the entire home-renovation wallet as Indian consumers move from buying paint to designing spaces.

Stores are the showroom, not just the shelf - 74 “Beautiful Homes Stores” across 20 states offer 3D and 4D visualisation across multiple categories, so a customer can see a modular kitchen, a Sabyasachi wallpaper, and a designer light in one visit rather than visiting five separate shops.
Acquired, then scaled - the kitchen business (Sleek, now amalgamated), decorative lighting (White Teak, now wholly owned), and uPVC windows (Weatherseal, 51% stake) were all bought as going concerns and then plugged into the parent’s distribution and brand, rather than built from scratch.
Design partnerships create aspiration - collaborations with Sabyasachi, Jaipur Rugs, and Sarita Handa produce ultra-premium wallpapers and furnishings priced at ₹200-₹500 per square foot, positioning the “Nilaya” brand at the top of the market and pulling the rest of the portfolio upward.

4. Industrial coatings: the partnership engine

Two 50:50 joint ventures with PPG Industries of the USA - one serving automotive OEMs and refinish, the other serving protective and powder coatings - operate with their own management control and manufacturing capacity, extending the company’s reach into factories, ports, and car plants without diluting the consumer focus of the parent.

The automotive JV rides India’s vehicle fleet - PPG Asian Paints (PPGAP) is the market leader in auto refinish and the second-largest player in automotive OEM, so it benefits from every new car sold and every existing car repaired.
The protective-coatings JV feeds infrastructure spend - Asian Paints PPG (APPPG) serves energy, oil and gas, and construction clients, and has just completed its largest capacity expansion, increasing Taloja output by 60% to meet demand from government infrastructure projects.
The partnership is locked in for the long term - both JVs were extended in August 2025 for a further 15 years through 2041, with each partner retaining management control of one entity, so the structure is stable and the technology access is assured.

Group structure and partners

A holding company at the centre, wholly owned international subsidiaries across 13 countries, majority stakes in the home-décor and white-cement ventures, and two 50:50 industrial-coatings joint ventures with PPG - the structure keeps the core Indian decorative business wholly controlled while using partnerships and subsidiaries to enter adjacent categories and geographies.

The international footprint is selective, not scattered - 15 manufacturing facilities outside India serve markets across Asia, the Middle East, Africa, and the South Pacific, with the company ranking among the top three decorative players in 12 of the 14 countries where it operates outside India.
White cement is secured through a joint venture - Asian White Cement Holding Limited (60% stake) operates the Fujairah plant that supplies the Indian putty business, with the remaining equity held by two partner firms, so the company gets dedicated capacity without bearing the full capital cost alone.
The home-décor subsidiaries are now mostly amalgamated - Sleek (kitchens) and Maxbhumi Developers were merged into the parent effective March 2025, while White Teak (lighting) became a 100% subsidiary in June 2025, simplifying the structure as these businesses scale.
PPG is the defining industrial partner - the two 50:50 JVs, originally formed in 1997 and 2012, have been extended through 2041, giving Asian Paints access to global automotive and protective-coatings technology while PPG gains access to the Indian market.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

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Ratios

Peer Comparison

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Mkt Cap

Market Capitalization

₹2,23,560Cr

Close Price

₹2,330.70

Industry

Building Materials Paints

Price To Earnings

46.88

Price To Sales

6.01

Revenue

₹37,187Cr

Rev Gr TTM

Revenue Growth TTM

9.78%

PAT Gr TTM

PAT Growth TTM

32.89%

Upcoming Results on

29 Oct 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	8,479	9,103	8,731	8,970	8,028	8,549	8,359	8,939	8,531	8,867	9,247	10,542
Growth YoY Revenue Growth YoY%	0.3	5.4	-0.6	-2.3	-5.3	-6.1	-4.3	-0.3	6.3	3.7	10.6	17.9
Expenses ExpensesCr	6,762	7,047	7,039	7,276	6,788	6,913	6,923	7,314	7,028	7,086	7,460	8,373
Operating Profit Operating ProfitCr	1,716	2,056	1,691	1,694	1,240	1,637	1,436	1,625	1,503	1,781	1,787	2,169
OPM OPM%	20.2	22.6	19.4	18.9	15.4	19.1	17.2	18.2	17.6	20.1	19.3	20.6
Other Income Other IncomeCr	194	186	212	193	25	193	-60	229	237	69	197	279
Interest Expense Interest ExpenseCr	51	54	54	55	63	56	53	45	44	48	59	48
Depreciation DepreciationCr	209	220	226	228	242	256	301	301	305	313	310	304
PBT PBTCr	1,651	1,968	1,624	1,604	959	1,518	1,022	1,509	1,392	1,489	1,614	2,096
Tax TaxCr	419	493	349	417	265	390	321	392	373	415	429	536
PAT PATCr	1,232	1,475	1,275	1,187	694	1,128	701	1,117	1,018	1,074	1,185	1,559
Growth YoY PAT Growth YoY%	53.3	34.5	1.3	-24.6	-43.7	-23.5	-45.0	-5.9	46.8	-4.8	69.2	39.6
NPM NPM%	14.5	16.2	14.6	13.2	8.6	13.2	8.4	12.5	11.9	12.1	12.8	14.8
EPS EPS₹	12.6	15.1	13.1	12.2	7.3	11.6	7.2	11.5	10.4	11.1	12.2	16.1

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	8,479	9,103	8,731	8,970	8,028	8,549	8,359	8,939	8,531	8,867	9,247	10,542
Growth YoY Revenue Growth YoY%	0.3	5.4	-0.6	-2.3	-5.3	-6.1	-4.3	-0.3	6.3	3.7	10.6	17.9
Expenses ExpensesCr	6,762	7,047	7,039	7,276	6,788	6,913	6,923	7,314	7,028	7,086	7,460	8,373
Operating Profit Operating ProfitCr	1,716	2,056	1,691	1,694	1,240	1,637	1,436	1,625	1,503	1,781	1,787	2,169
OPM OPM%	20.2	22.6	19.4	18.9	15.4	19.1	17.2	18.2	17.6	20.1	19.3	20.6
Other Income Other IncomeCr	194	186	212	193	25	193	-60	229	237	69	197	279
Interest Expense Interest ExpenseCr	51	54	54	55	63	56	53	45	44	48	59	48
Depreciation DepreciationCr	209	220	226	228	242	256	301	301	305	313	310	304
PBT PBTCr	1,651	1,968	1,624	1,604	959	1,518	1,022	1,509	1,392	1,489	1,614	2,096
Tax TaxCr	419	493	349	417	265	390	321	392	373	415	429	536
PAT PATCr	1,232	1,475	1,275	1,187	694	1,128	701	1,117	1,018	1,074	1,185	1,559
Growth YoY PAT Growth YoY%	53.3	34.5	1.3	-24.6	-43.7	-23.5	-45.0	-5.9	46.8	-4.8	69.2	39.6
NPM NPM%	14.5	16.2	14.6	13.2	8.6	13.2	8.4	12.5	11.9	12.1	12.8	14.8
EPS EPS₹	12.6	15.1	13.1	12.2	7.3	11.6	7.2	11.5	10.4	11.1	12.2	16.1

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	14,271	15,062	16,825	19,240	20,211	21,713	29,101	34,489	35,495	33,906	35,584	37,187
Growth Revenue Growth%	0.6	5.5	11.7	14.4	5.0	7.4	34.0	18.5	2.9	-4.5	5.0	9.8
Expenses ExpensesCr	11,502	12,076	13,627	15,475	16,049	16,857	24,298	28,229	27,910	27,899	28,888	29,947
Operating Profit Operating ProfitCr	2,769	2,986	3,198	3,766	4,162	4,856	4,804	6,260	7,585	6,006	6,696	7,240
OPM OPM%	19.4	19.8	19.0	19.6	20.6	22.4	16.5	18.1	21.4	17.7	18.8	19.5
Other Income Other IncomeCr	161	312	266	274	355	332	296	431	821	350	732	782
Interest Expense Interest ExpenseCr	41	30	35	105	102	92	95	144	205	227	195	199
Depreciation DepreciationCr	276	335	360	622	781	791	816	858	853	1,026	1,229	1,232
PBT PBTCr	2,614	2,934	3,068	3,312	3,634	4,304	4,188	5,689	7,348	5,103	6,003	6,590
Tax TaxCr	844	943	1,041	1,098	855	1,098	1,103	1,494	1,790	1,393	1,609	1,753
PAT PATCr	1,769	1,990	2,028	2,214	2,779	3,207	3,085	4,195	5,558	3,710	4,395	4,837
Growth PAT Growth%	24.0	12.5	1.9	9.2	25.5	15.4	-3.8	36.0	32.5	-33.3	18.5	32.9
NPM NPM%	12.4	13.2	12.1	11.5	13.8	14.8	10.6	12.2	15.7	10.9	12.3	13.0
EPS EPS₹	18.2	20.2	21.3	22.5	28.2	32.7	31.6	42.8	57.0	38.3	45.1	49.7

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	14,271	15,062	16,825	19,240	20,211	21,713	29,101	34,489	35,495	33,906	35,584	37,187
Growth Revenue Growth%	0.6	5.5	11.7	14.4	5.0	7.4	34.0	18.5	2.9	-4.5	5.0	9.8
Expenses ExpensesCr	11,502	12,076	13,627	15,475	16,049	16,857	24,298	28,229	27,910	27,899	28,888	29,947
Operating Profit Operating ProfitCr	2,769	2,986	3,198	3,766	4,162	4,856	4,804	6,260	7,585	6,006	6,696	7,240
OPM OPM%	19.4	19.8	19.0	19.6	20.6	22.4	16.5	18.1	21.4	17.7	18.8	19.5
Other Income Other IncomeCr	161	312	266	274	355	332	296	431	821	350	732	782
Interest Expense Interest ExpenseCr	41	30	35	105	102	92	95	144	205	227	195	199
Depreciation DepreciationCr	276	335	360	622	781	791	816	858	853	1,026	1,229	1,232
PBT PBTCr	2,614	2,934	3,068	3,312	3,634	4,304	4,188	5,689	7,348	5,103	6,003	6,590
Tax TaxCr	844	943	1,041	1,098	855	1,098	1,103	1,494	1,790	1,393	1,609	1,753
PAT PATCr	1,769	1,990	2,028	2,214	2,779	3,207	3,085	4,195	5,558	3,710	4,395	4,837
Growth PAT Growth%	24.0	12.5	1.9	9.2	25.5	15.4	-3.8	36.0	32.5	-33.3	18.5	32.9
NPM NPM%	12.4	13.2	12.1	11.5	13.8	14.8	10.6	12.2	15.7	10.9	12.3	13.0
EPS EPS₹	18.2	20.2	21.3	22.5	28.2	32.7	31.6	42.8	57.0	38.3	45.1	49.7

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	96	96	96	96	96	96	96	96	96	96	96
Reserves ReservesCr	6,429	7,508	8,314	9,375	10,034	12,710	13,716	15,896	18,632	19,304	21,276
Current Liabilities Current LiabilitiesCr	3,149	3,885	4,451	5,180	4,380	5,926	7,571	7,896	8,501	8,141	9,137
Non Current Liabilities Non Current LiabilitiesCr	503	557	594	1,266	1,241	1,215	1,214	1,456	1,999	2,171	3,382
Total Liabilities Total LiabilitiesCr	10,561	12,421	13,783	16,278	16,155	20,370	22,984	25,798	29,924	30,371	34,534
Current Assets Current AssetsCr	5,735	6,966	6,914	7,627	7,580	12,027	15,152	16,535	17,537	16,992	20,185
Non Current Assets Non Current AssetsCr	4,826	5,456	6,869	8,651	8,575	8,343	7,832	9,263	12,387	13,380	14,350
Total Assets Total AssetsCr	10,561	12,421	13,783	16,278	16,155	20,370	22,984	25,798	29,924	30,371	34,534

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	96	96	96	96	96	96	96	96	96	96	96
Reserves ReservesCr	6,429	7,508	8,314	9,375	10,034	12,710	13,716	15,896	18,632	19,304	21,276
Current Liabilities Current LiabilitiesCr	3,149	3,885	4,451	5,180	4,380	5,926	7,571	7,896	8,501	8,141	9,137
Non Current Liabilities Non Current LiabilitiesCr	503	557	594	1,266	1,241	1,215	1,214	1,456	1,999	2,171	3,382
Total Liabilities Total LiabilitiesCr	10,561	12,421	13,783	16,278	16,155	20,370	22,984	25,798	29,924	30,371	34,534
Current Assets Current AssetsCr	5,735	6,966	6,914	7,627	7,580	12,027	15,152	16,535	17,537	16,992	20,185
Non Current Assets Non Current AssetsCr	4,826	5,456	6,869	8,651	8,575	8,343	7,832	9,263	12,387	13,380	14,350
Total Assets Total AssetsCr	10,561	12,421	13,783	16,278	16,155	20,370	22,984	25,798	29,924	30,371	34,534

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	2,243	1,527	2,113	2,470	3,038	3,683	986	4,193	6,104	4,424	7,088
Investing Cash Flow Investing Cash FlowCr	-866	-656	-1,599	-944	-521	-548	-322	-1,275	-2,518	-874	-1,334
Financing Cash Flow Financing Cash FlowCr	-849	-756	-1,379	-1,117	-2,871	-650	-1,808	-2,140	-2,983	-3,753	-2,377
Net Cash Flow Net Cash FlowCr	528	115	-865	408	-355	2,485	-1,143	779	603	-203	3,378
Free Cash Flow Free Cash FlowCr	1,441	860	705	1,336	2,671	3,429	488	2,946	3,910	2,629	5,624
CFO To PAT CFO To PAT%	126.8	76.7	104.2	111.5	109.3	114.9	32.0	100.0	109.8	119.3	161.3
CFO To EBITDA CFO To EBITDA%	81.0	51.1	66.1	65.6	73.0	75.9	20.5	67.0	80.5	73.7	105.9

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	2,243	1,527	2,113	2,470	3,038	3,683	986	4,193	6,104	4,424	7,088
Investing Cash Flow Investing Cash FlowCr	-866	-656	-1,599	-944	-521	-548	-322	-1,275	-2,518	-874	-1,334
Financing Cash Flow Financing Cash FlowCr	-849	-756	-1,379	-1,117	-2,871	-650	-1,808	-2,140	-2,983	-3,753	-2,377
Net Cash Flow Net Cash FlowCr	528	115	-865	408	-355	2,485	-1,143	779	603	-203	3,378
Free Cash Flow Free Cash FlowCr	1,441	860	705	1,336	2,671	3,429	488	2,946	3,910	2,629	5,624
CFO To PAT CFO To PAT%	126.8	76.7	104.2	111.5	109.3	114.9	32.0	100.0	109.8	119.3	161.3
CFO To EBITDA CFO To EBITDA%	81.0	51.1	66.1	65.6	73.0	75.9	20.5	67.0	80.5	73.7	105.9

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	83,326	1,02,749	1,07,497	1,43,103	1,59,870	2,43,325	2,95,601	2,64,897	2,72,988	2,24,232	2,07,618	2,23,560
Price To Earnings Price To Earnings	47.8	53.0	52.7	66.4	59.1	77.5	97.5	64.5	50.0	61.1	48.0	46.9
Price To Sales Price To Sales	5.1	5.9	6.4	7.4	7.9	11.2	10.2	7.7	7.7	6.6	5.8	6.0
Price To Book Price To Book	12.8	13.5	12.8	15.1	15.8	19.0	21.4	16.6	14.6	11.6	9.7	10.5
EV To EBITDA EV To EBITDA	30.1	34.3	33.6	38.2	38.5	50.2	61.7	42.5	36.2	37.6	31.4	31.3
Profitability Ratios Profitability Ratios
GPM GPM%	41.0	42.3	40.2	39.4	41.7	42.5	35.4	37.0	41.8	40.6	41.9	41.9
OPM OPM%	19.4	19.8	19.0	19.6	20.6	22.4	16.5	18.1	21.4	17.7	18.8	19.5
NPM NPM%	12.4	13.2	12.1	11.5	13.8	14.8	10.6	12.2	15.7	10.9	12.3	13.0
ROCE ROCE%	38.9	36.4	34.8	31.7	33.3	31.6	27.8	32.5	35.6	24.6	24.5	24.5
ROE ROE%	27.1	26.2	24.1	23.4	27.4	25.0	22.3	26.2	29.7	19.1	20.6	20.6
ROA ROA%	16.8	16.0	14.7	13.6	17.2	15.7	13.4	16.3	18.6	12.2	12.7	12.7
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	83,326	1,02,749	1,07,497	1,43,103	1,59,870	2,43,325	2,95,601	2,64,897	2,72,988	2,24,232	2,07,618	2,23,560
Price To Earnings Price To Earnings	47.8	53.0	52.7	66.4	59.1	77.5	97.5	64.5	50.0	61.1	48.0	46.9
Price To Sales Price To Sales	5.1	5.9	6.4	7.4	7.9	11.2	10.2	7.7	7.7	6.6	5.8	6.0
Price To Book Price To Book	12.8	13.5	12.8	15.1	15.8	19.0	21.4	16.6	14.6	11.6	9.7	10.5
EV To EBITDA EV To EBITDA	30.1	34.3	33.6	38.2	38.5	50.2	61.7	42.5	36.2	37.6	31.4	31.3
Profitability Ratios Profitability Ratios
GPM GPM%	41.0	42.3	40.2	39.4	41.7	42.5	35.4	37.0	41.8	40.6	41.9	41.9
OPM OPM%	19.4	19.8	19.0	19.6	20.6	22.4	16.5	18.1	21.4	17.7	18.8	19.5
NPM NPM%	12.4	13.2	12.1	11.5	13.8	14.8	10.6	12.2	15.7	10.9	12.3	13.0
ROCE ROCE%	38.9	36.4	34.8	31.7	33.3	31.6	27.8	32.5	35.6	24.6	24.5	24.5
ROE ROE%	27.1	26.2	24.1	23.4	27.4	25.0	22.3	26.2	29.7	19.1	20.6	20.6
ROA ROA%	16.8	16.0	14.7	13.6	17.2	15.7	13.4	16.3	18.6	12.2	12.7	12.7
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	ASIANPAINT	BERGEPAINT	KANSAINER	JSWDULUX	INDIGOPNTS	SIRCA	SHALPAINTS
Market CapitalizationMkt CapCr	2,23,560	54,802	14,677	13,929	4,959	2,470	684
Close PriceClose₹	2,330.70	470.00	181.46	3,058.60	1,038.90	435.00	81.68
IndustryIndustry	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints
Price To EarningsPE	46.88	45.02	22.49	7.10	30.77	36.43
Price To SalesPS	6.01	4.47	1.78	3.89	3.38	4.86	1.22
RevenueRevenueCr	37,187	12,263	8,263	3,578	1,466	508	559
Revenue Growth TTMRev Gr TTM%	9.8%	5.2%	5.2%	-11.5%	9.5%	24.2%	-10.7%
PAT Growth TTMPAT Gr TTM%	32.9%	6.5%	-46.5%	383.5%	15.3%	26.3%	1.5%

	ASIANPAINT	BERGEPAINT	KANSAINER	JSWDULUX	INDIGOPNTS	SIRCA	SHALPAINTS
Market CapitalizationMkt CapCr	2,23,560	54,802	14,677	13,929	4,959	2,470	684
Close PriceClose₹	2,330.70	470.00	181.46	3,058.60	1,038.90	435.00	81.68
IndustryIndustry	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints	Building Materials Paints
Price To EarningsPE	46.88	45.02	22.49	7.10	30.77	36.43
Price To SalesPS	6.01	4.47	1.78	3.89	3.38	4.86	1.22
RevenueRevenueCr	37,187	12,263	8,263	3,578	1,466	508	559
Revenue Growth TTMRev Gr TTM%	9.8%	5.2%	5.2%	-11.5%	9.5%	24.2%	-10.7%
PAT Growth TTMPAT Gr TTM%	32.9%	6.5%	-46.5%	383.5%	15.3%	26.3%	1.5%

FY2026

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FY2026

Jun 26