Buy Asian Paints: target of Rs 3689: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Asian Paints

Asian Paints Limited (APL) acquires 49% stake in White Teak (present in decorative lighting products & fans) for Rs. 180 crore and 51% stake in Weatherseal (present in uPVC windows and doors) for Rs. 19 crore. Both acquisitions are in line with APL’s focus of transforming itself from ‘share of surface’ to ‘share of space’ in the long run. APL expects revenue contribution from the home décor business to increase to 10% over the next two-three years from current single digit. APL plans to utilise its network of strong distribution points and institutional clients to grow both businesses. In the near term, both the businesses are unlikely to add materially to its earnings. The stock is currently trading at 70.8x and 54.9x its FY2023E and FY2024E earnings, respectively.

Outlook

We maintain Buy with an unchanged PT of Rs. 3,689.

More Info

At 11:37 hrs Asian Paints was quoting at Rs 3,145.35, up Rs 27.70, or 0.89 percent.

It has touched an intraday high of Rs 3,149.10 and an intraday low of Rs 3,080.80.

It was trading with volumes of 11,501 shares, compared to its thirty day average of 143,080 shares, a decrease of -91.96 percent.

In the previous trading session, the share closed up 0.12 percent or Rs 3.85 at Rs 3,117.65.

The share touched its 52-week high Rs 3,588.05 and 52-week low Rs 2,484.05 on 10 January, 2022 and 05 April, 2021, respectively.

Currently, it is trading 12.34 percent below its 52-week high and 26.62 percent above its 52-week low.

Market capitalisation stands at Rs 301,701.28 crore.

For all recommendations report, click here

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