āagman

Not investment advice. Data and computed figures, for information only.

Asian Paints Ltd

NSE: ASIANPAINTF&O
₹2,350.00
+₹5.30 (+0.23%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹2,24,366 Cr
CMP
₹2,350.00
52-wk High / Low
₹2,986 / 2,115
P/E
46.0
P/B
10.5
Book Value
₹223.0
Div Yield
1.18%
ROCE
26.0%
ROE
21.8%
Face Value
₹1
D/E
0.18

Price+0.4% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹476
√(22.5 × EPS × book value per share)
ROIC
15.8%
vs 12.3% sector median
Cash flow to profit
1.61
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+240
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
10.0%
ROE × earnings retention ratio
ROE stability
3.9
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +1.21DII −1.04
Latest quarter vs the previous one
Cash-accrual divergence
−8.3%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 26% vs the 2026 sector median of 18.5%)
+Annualised volatility of 24.3% is in the low band (≤25%)
Watch-outs
−Borrowings are up 1116.4% since FY2016 (323 to 3929)
−Price trades below its 200-day moving average (0.9x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9,1828,4799,1038,7318,9708,0288,5498,3598,9398,5318,8679,24710,542
Expenses7,0616,7627,0477,0397,2766,7886,9136,9237,3147,0287,0867,4608,373
Operating Profit2,1211,7162,0561,6911,6941,2401,6371,4361,6251,5031,7811,7872,169
OPM %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%
Other Income22819418621219325193−6022923769197279
Interest46515454556356534444485948
Depreciation198209220226228242256301301305313310304
Profit before tax2,1051,6511,9681,6241,6049591,5181,0221,5091,3921,4891,6142,096
Net Profit1,5751,2321,4751,2751,1876941,1287011,1171,0181,0741,1851,559
EPS (₹)16.1612.5715.0913.1012.207.2411.587.2211.4710.3611.0512.2216.05

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales13,61514,27115,06216,82519,24020,21121,71329,10134,48935,49533,90635,58437,187
Expenses11,37211,54612,06813,62115,47516,04916,85724,29828,22927,91027,89928,88429,947
Operating Profit2,2432,7252,9943,2043,7654,1624,8564,8046,2607,5856,0066,7007,240
OPM %16.5%19.1%19.9%19.0%19.6%20.6%22.4%16.5%18.2%21.4%17.7%18.8%19.5%
Other Income142213338336274350332296431821350728782
Interest424937411101029295144205227195199
Depreciation2662763353606227807918168588531,0261,2291,232
Profit before tax2,0772,6142,9603,1383,3063,6294,3044,1885,6897,3485,1036,0036,590
Net Profit1,4271,8032,0162,0982,2082,7743,2073,0854,1955,5583,7104,3954,837
EPS (₹)14.5418.1920.2221.2622.4828.2032.7331.5942.8156.9238.2345.0949.68

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital969696969696969696969696—
Reserves4,6466,4297,5088,3149,37510,03412,71013,71615,89618,63219,30421,276—
Borrowings4183235605331,3201,1181,0931,5871,9332,4742,2903,929—
Other Liabilities3,7543,7114,2414,8205,4594,8896,4567,5607,8548,6988,6659,218—
Total Liabilities8,91410,55912,40513,76316,24916,13820,35522,95825,77929,90130,35534,519—
Fixed Assets2,6603,4163,3043,7326,4976,2725,8595,5195,7707,1479,2209,640—
CWIP1961072581,4052101401834261,0202,6981,2541,849—
Investments1,5882,7122,6522,1412,5692,0194,7373,2484,2624,5884,7257,062—
Other Assets4,4714,3246,1926,4856,9747,7079,57713,76514,72815,46815,15615,968—
Total Assets8,91410,55912,40513,76316,24916,13820,35522,95825,77929,90130,35534,519—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,4021,1882,2431,5272,1132,4703,0383,6839864,1936,1044,4247,088
Cash from Investing Activity−586−465−866−681−1,556−918−518−541−317−1,282−2,548−941−1,328
Cash from Financing Activity−626−576−849−756−1,379−1,117−2,871−650−1,808−2,140−2,982−3,753−2,377
Net Cash Flow19014752890−822434−3512,492−1,138771573−2703,383

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %45.042.042.038.036.033.033.034.029.034.038.026.026.0
ROE %————————————21.8
EPS (₹)12.7114.5418.1920.2221.2622.4828.2032.7331.5942.8156.9238.2345.09
Book Value (₹)————————————223.0
Face Value (₹)————————————1
P/E————————————46.0
Div Yield %————————————1.18
NPM %10.310.412.413.112.211.313.514.510.512.015.310.812.1
OPM %16.016.019.020.019.020.021.022.017.018.021.018.019.0
D/E0.060.090.050.070.060.140.110.090.110.120.130.120.18
P/B————————————10.5

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+10.0%
5 years+10.0%
3 years+1.0%
TTM+10.0%
Compounded profit growth
10 years+10.0%
5 years+7.0%
3 years+2.0%
TTM+27.0%
Stock price CAGR
10 years+7.0%
5 years−7.0%
3 years−10.0%
Last year+0.0%
Return on equity
10 years25.0%
5 years25.0%
3 years24.0%
Last year22.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters52.79%52.79%52.79%52.79%52.79%52.79%52.63%52.63%52.63%52.63%52.63%52.63%
FIIs18.07%18.07%15.08%16.33%17.21%20.38%19.45%17.02%15.89%12.23%12.11%13.32%
DIIs7.60%7.60%11.76%9.51%9.81%7.27%7.57%9.96%11.61%15.51%21.74%20.70%
Government0.11%0.11%0.09%0.05%0.14%0.08%0.04%0.05%0.06%0.06%0.07%0.07%
Public21.43%21.43%20.27%21.32%20.04%19.48%20.29%20.32%19.78%19.51%13.39%13.19%
No. of shareholders2,02,9142,02,9141,85,3072,11,7923,00,3074,99,1859,46,87610,82,65011,05,32612,13,83610,01,7999,59,219
Change since Jun 2023 (pp)
Promoters −0.16FIIs −4.75DIIs +13.10Public −8.24

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Notice of Postal BallotAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationRecord Date For Payment Of Interim Dividend, If Any, For The Financial Year Ending 31St March 2027Corporate Action-Board to consider Dividend
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTJun 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 23 Jun 2026
23 Jun 2026DIVIDENDDividend - Rs 23 Per Share—
18 Nov 2025DIVIDENDInterim Dividend - Rs 4.50 Per Share—
10 Jun 2025DIVIDENDDividend - Rs 20.55 Per Share—
19 Nov 2024DIVIDENDInterim Dividend - Rs 4.25 Per Share—
11 Jun 2024DIVIDENDDividend - Rs 28.15 Per Share—
3 Nov 2023DIVIDENDInterim Dividend - Rs 5.15 Per Share—
9 Jun 2023DIVIDENDDividend - Rs 21.25 Per Share—
31 Oct 2022DIVIDENDInterim Dividend - Rs 4.40 Per Share—
9 Jun 2022DIVIDENDDividend - Rs 15.50 Per Share—
28 Oct 2021DIVIDEND Interim Dividend - Rs 3.65 Per Share—
10 Jun 2021DIVIDEND Dividend - Rs 14.50 Per Sh—
28 Oct 2020DIVIDEND Interim Dividend - Rs 3.35 Per Share—
23 Jul 2020DIVIDEND Annual General Meeting/Dividend - Rs 1.50 Per Share—
3 Mar 2020DIVIDEND Interim Dividend - Rs 7.15 Per Share—
30 Oct 2019DIVIDEND Interim Dividend - Rs 3.35 Per Sh—
13 Jun 2019DIVIDEND Dividend Rs -7.65 Per Share—
29 Oct 2018DIVIDEND Interim Dividend - Rs 2.85 Per Sh—
14 Jun 2018DIVIDEND Dividend- Rs 6.05 Per Share—
31 Oct 2017DIVIDEND Interim Dividend - Rs 2.65 Per Share (Purpose Revised)—
15 Jun 2017DIVIDEND Annual General Meeting/Dividend Rs 5.65 Per Share + Special Dividend Rs 2/- Per Share—
1 Nov 2016DIVIDEND Interim Dividend Rs 2.65 Per Share (Purpose Revised)—
16 Jun 2016DIVIDEND Annul General Meeting/ Dividend - Rs 5.30/- Per Share—
28 Oct 2015DIVIDENDInterim Dividend - Rs 2.20/- Per Share (Purpose Revised)—
24 Jun 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 4.30/- Per Share—
22 Sep 2014DIVIDENDInterim Dividend Rs.1.80 Per Share (Purpose Revised)—
16 Jun 2014DIVIDENDAnnual General Meeting/Dividend Rs 4.20/- Per Share—
24 Oct 2013DIVIDENDInterim Dividend - Rs 1.10/- Per Share—
30 Jul 2013SPLITFace Value Split Rs 10 To Re 110 : 1
6 Jun 2013DIVIDENDAnnual General Meeting / Final Dividend Rs.36.50/- Per Equity Share—
29 Oct 2012DIVIDENDInterim Dividend Rs 9.50 Per Share (Purpose Revised)—
7 Jun 2012DIVIDENDAnnual General Meeting And Dividend - Rs.30.50 Per Share—
25 Oct 2011DIVIDENDInterim Dividend Rs.9.50 Per Share (Purpose Revised)—
9 Jun 2011DIVIDENDAnnual General Meeting And Dividend Rs.23.50 Per Share—
29 Oct 2010DIVIDENDInterim Dividend-Rs.8.50 Per Share (Purpose Revised)—
30 Jun 2010DIVIDENDAnnual General Meeting And Dividend Rs.18.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman