Shares of Asian Paints declined by 2.06% to Rs 2,406.60 in Thursday's session. The stock is a constituent of the Nifty 50 index.
Financial Performance:
The following table presents the consolidated quarterly financial performance of Asian Paints:
| Heading | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 8,969.73 Crore | Rs 8,027.54 Crore | Rs 8,549.44 Crore | Rs 8,358.91 Crore | Rs 8,938.55 Crore |
| Net Profit | Rs 1,150.07 Crore | Rs 662.54 Crore | Rs 1,078.61 Crore | Rs 677.78 Crore | Rs 1,080.73 Crore |
| EPS | 12.20 | 7.25 | 11.58 | 7.22 | 11.47 |
The revenue for the quarter ending June 2025 stood at Rs 8,938.55 Crore, slightly less than the Rs 8,969.73 Crore recorded in June 2024. The net profit for the same period was Rs 1,080.73 Crore, compared to Rs 1,150.07 Crore in the previous year.
The following table presents the consolidated yearly financial performance:
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 21,712.79 Crore | Rs 29,101.28 Crore | Rs 34,488.59 Crore | Rs 35,494.73 Crore | Rs 33,905.62 Crore |
| Net Profit | Rs 3,178.15 Crore | Rs 3,053.24 Crore | Rs 4,101.48 Crore | Rs 5,424.69 Crore | Rs 3,569.00 Crore |
| EPS | 32.73 | 31.59 | 42.83 | 56.95 | 38.25 |
| BVPS | 137.92 | 148.03 | 171.45 | 195.25 | 202.25 |
| ROE | 24.51 | 21.94 | 25.67 | 29.15 | 18.90 |
| Debt to Equity | 0.03 | 0.06 | 0.06 | 0.06 | 0.04 |
The annual revenue for the year ending March 2025 was Rs 33,905.62 Crore, a decrease compared to Rs 35,494.73 Crore in March 2024. The net profit also decreased from Rs 5,424.69 Crore in March 2024 to Rs 3,569.00 Crore in March 2025.
Income Statement:
The following table shows the key figures from the income statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 33,905 Crore | Rs 35,494 Crore | Rs 34,488 Crore | Rs 29,101 Crore | Rs 21,712 Crore |
| Other Income | Rs 572 Crore | Rs 687 Crore | Rs 386 Crore | Rs 380 Crore | Rs 303 Crore |
| Total Income | Rs 34,478 Crore | Rs 36,182 Crore | Rs 34,875 Crore | Rs 29,481 Crore | Rs 22,015 Crore |
| Total Expenditure | Rs 29,288 Crore | Rs 28,762 Crore | Rs 29,135 Crore | Rs 25,229 Crore | Rs 17,648 Crore |
| EBIT | Rs 5,189 Crore | Rs 7,419 Crore | Rs 5,739 Crore | Rs 4,251 Crore | Rs 4,367 Crore |
| Interest | Rs 227 Crore | Rs 205 Crore | Rs 144 Crore | Rs 95 Crore | Rs 91 Crore |
| Tax | Rs 1,393 Crore | Rs 1,790 Crore | Rs 1,493 Crore | Rs 1,102 Crore | Rs 1,097 Crore |
| Net Profit | Rs 3,569 Crore | Rs 5,424 Crore | Rs 4,101 Crore | Rs 3,053 Crore | Rs 3,178 Crore |
The following table summarizes the cash flow activities:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs 4,423 Crore | Rs 6,103 Crore | Rs 4,193 Crore | Rs 986 Crore | Rs 3,683 Crore |
| Investing Activities | Rs -874 Crore | Rs -2,517 Crore | Rs -1,274 Crore | Rs -321 Crore | Rs -547 Crore |
| Financing Activities | Rs -3,752 Crore | Rs -2,982 Crore | Rs -2,140 Crore | Rs -1,807 Crore | Rs -650 Crore |
| Others | Rs -66 Crore | Rs -30 Crore | Rs -7 Crore | Rs 4 Crore | Rs 7 Crore |
| Net Cash Flow | Rs -269 Crore | Rs 572 Crore | Rs 771 Crore | Rs -1,137 Crore | Rs 2,492 Crore |
Key figures from the balance sheet are presented below:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 95 Crore | Rs 95 Crore | Rs 95 Crore | Rs 95 Crore | Rs 95 Crore |
| Reserves & Surplus | Rs 19,303 Crore | Rs 18,632 Crore | Rs 15,896 Crore | Rs 13,715 Crore | Rs 12,710 Crore |
| Current Liabilities | Rs 8,141 Crore | Rs 8,500 Crore | Rs 7,895 Crore | Rs 7,570 Crore | Rs 5,925 Crore |
| Other Liabilities | Rs 2,830 Crore | Rs 2,694 Crore | Rs 1,909 Crore | Rs 1,601 Crore | Rs 1,637 Crore |
| Total Liabilities | Rs 30,371 Crore | Rs 29,924 Crore | Rs 25,798 Crore | Rs 22,984 Crore | Rs 20,369 Crore |
| Fixed Assets | Rs 10,255 Crore | Rs 9,425 Crore | Rs 6,561 Crore | Rs 5,702 Crore | Rs 5,738 Crore |
| Current Assets | Rs 16,991 Crore | Rs 17,537 Crore | Rs 16,535 Crore | Rs 15,152 Crore | Rs 12,026 Crore |
| Other Assets | Rs 3,124 Crore | Rs 2,961 Crore | Rs 2,701 Crore | Rs 2,129 Crore | Rs 2,604 Crore |
| Total Assets | Rs 30,371 Crore | Rs 29,924 Crore | Rs 25,798 Crore | Rs 22,984 Crore | Rs 20,369 Crore |
| Contingent Liabilities | Rs 2,424 Crore | Rs 2,845 Crore | Rs 2,679 Crore | Rs 1,651 Crore | Rs 858 Crore |
The following table shows key financial ratios for Asian Paints:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 38.25 | 56.95 | 42.83 | 31.59 | 32.73 |
| Diluted Eps (Rs.) | 38.25 | 56.94 | 42.82 | 31.59 | 32.73 |
| Book Value [Excl. Reval Reserve]/Share (Rs.) | 202.25 | 195.25 | 171.45 | 148.03 | 137.92 |
| Dividend/Share (Rs.) | 24.80 | 33.30 | 25.65 | 19.15 | 17.85 |
| Face Value | 1 | 1 | 1 | 1 | 1 |
| Gross Profit Margin (%) | 19.40 | 23.30 | 19.27 | 17.81 | 23.75 |
| Operating Margin (%) | 16.37 | 20.90 | 16.78 | 15.00 | 20.11 |
| Net Profit Margin (%) | 10.52 | 15.28 | 11.89 | 10.49 | 14.63 |
| Return on Networth / Equity (%) | 18.90 | 29.15 | 25.67 | 21.94 | 24.51 |
| ROCE (%) | 24.97 | 34.63 | 32.33 | 28.33 | 30.23 |
| Return On Assets (%) | 12.07 | 18.24 | 15.91 | 13.18 | 15.41 |
| Current Ratio (X) | 2.09 | 2.06 | 2.09 | 2.00 | 2.03 |
| Quick Ratio (X) | 1.26 | 1.37 | 1.31 | 1.19 | 1.39 |
| Debt to Equity (x) | 0.04 | 0.06 | 0.06 | 0.06 | 0.03 |
| Interest Coverage Ratios (X) | 28.98 | 40.32 | 46.01 | 54.33 | 56.30 |
| Asset Turnover Ratio (%) | 1.12 | 1.27 | 1.41 | 1.34 | 1.10 |
| Inventory Turnover Ratio (X) | 2.50 | 2.62 | 2.80 | 3.27 | 2.62 |
| 3 Yr CAGR Sales (%) | 7.94 | 27.86 | 30.63 | 22.98 | 13.60 |
| 3 Yr CAGR Net Profit (%) | 8.12 | 30.65 | 22.61 | 18.53 | 26.64 |
| P/E (x) | 61.19 | 49.99 | 64.48 | 97.50 | 77.53 |
| P/B (x) | 11.56 | 14.58 | 16.56 | 21.40 | 19.00 |
| EV/EBITDA (x) | 34.20 | 33.08 | 39.94 | 57.08 | 47.20 |
| P/S (x) | 6.61 | 7.69 | 7.68 | 10.16 | 11.21 |
Asian Paints has been actively involved in corporate actions. The exchange received disclosures under Regulations 31(1) and 31(2) of SEBI (SAST) Regulations, 2011, on September 18 and 17, 2025, for Smiti Holding & Trading Company Pvt Ltd.
The trading window for the company's securities will be closed from September 19, 2025, until two trading days from the declaration of the audited standalone and unaudited consolidated financial results for the quarter and half year ending September 30, 2025.
Dividends:
- Final Dividend of Rs 20.55 per share (2055%) announced on May 8, 2025, with an effective date of June 10, 2025.
- Bonus shares were issued on May 28, 2003, with a ratio of 1:2 (Record date: August 25, 2003; Ex-bonus date: August 22, 2003).
- Bonus shares were issued on May 30, 2000, with a ratio of 3:5 (Ex-bonus date: August 2, 2000).
- The face value of shares was split from Rs 10 to Rs 1 on May 9, 2013 (Ex-split date: July 30, 2013; Record date: July 31, 2013).
Moneycontrol analysis, as of September 23, 2025, indicates bearish sentiment on the stock.
With the stock's last traded price at Rs 2,406.60, Asian Paints experienced a notable decline during today's session.
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