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Asian Paints (ASIANPAINT) had a P/E of 50.5× on 6 Nov 2026, above the industry P/E of 22.1×, and the shares are 15% below their 52-week high. It earns ROCE of 24% and ROE of 23%, and sales and net profit grew 1.1% and 1.7% a year over 3 years. Its dividend yield is 1.1%, and debt is 0.21× equity. It is a large-cap company with a market cap of ₹2.4 lakh crore, the largest of 204 Specialty Chemicals companies by market cap; the shares rose 1.5% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹2,488.00
Day high
₹2,546.00
Day low
₹2,452.30
Prev. close
₹2,523.80
Volume
9.7 L

Health check

2 good · 4 to check
  • ReturnsBehind

    +1.5% over a year, better than 1 of 7 peers.

  • Price tagPricier

    P/E 50.5 vs industry 22.1.

  • GrowthSlow

    Sales +1.1%, profit +1.7% a year over 3 years.

  • ProfitabilityStrong

    ROCE 24.4% vs peer median 21.0%.

  • Balance sheetSolid

    Debt 0.21× equity, interest covered 31.7×, Piotroski 7 of 9.

  • Red flags1 to check

    P/E of 50.5 against an industry P/E of 22.1.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Specialty Chemicals

203 listed peers. Screen the industry

Large cap

₹2.4L Cr, the largest of 204 in its industry.

Defensive

Beta 0.31 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹38,632 Cr · profit ₹4,839 Cr
Market cap
₹2.4L Cr
Large cap
P/E
50.5
Industry 22.1
Price to book
11.23
Peers 13.33
Dividend yield
1.13%
ROE
23.0%
Peers 18.5%
ROCE
24.4%
Peers 21.0%
Debt to equity
0.21
Debt ₹4,596 Cr
EPS (TTM)
₹50.46
Face value ₹1
OPM (TTM)
18.9%
Net margin 12.5%
Sales growth
+16.9%
Latest quarter vs a year ago
Profit growth
+7.5%
Latest quarter vs a year ago
Price to sales
6.32
EV/EBITDA 35.3

Strengths and risks

Strengths

  • Return on equity of 23.0%.
  • Return on capital employed of 24.4%.
  • Quarterly sales up 16.9% on a year ago.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • P/E of 50.5 against an industry P/E of 22.1.

Derived automatically from reported figures. Not a recommendation.

About Asian Paints

Asian Paints Limited, together with its subsidiaries, engages in the manufacture, distribution, and sale of paints, coatings, and products related to home decoration and bath fittings, kitchen, and wardrobe in India, Asia, the Middle East, Africa, and the South Pacific region. The company offers wall coverings, waterproofing products, adhesives; and bath fittings and sanitaryware, modular kitchens and wardrobes, fabric, furnishings, rugs, decorative…

Headquarters
Mumbai
Employees
11,162
Sector
Basic Materials
ISIN
INE021A01026
Website
asianpaints.com

Price range

52 weeks

₹2,115.00₹2,985.70

Today

₹2,452.30₹2,546.00
Avg volume (3M)
7.3 L
1-year return
plus 1.5%
From 52-week high
minus 14.7%

Analyst consensus

34 analysts
BuyMean target ₹2,750.06 plus 8.0%

Target range, with today’s price

Low ₹1,925.00High ₹3,300.00

Next results expected around 19 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Specialty Chemicals

Compare with peersScreen the whole industry
Company
ASIANPAINTAsian Paints2,546.00plus 0.88%2,44,02550.511.2324.4%23.0%18.9%1.1%1.7%1.13%plus 1.5%
SOLARINDSSolar Industries India18,608.00plus 0.48%1,68,38474.421.9429.5%35.1%27.8%12.4%30.4%0.06%plus 35.9%
PIDILITINDPidilite Industries1,579.00plus 1.63%1,60,82760.014.3328.5%25.7%23.5%7.4%24.4%0.73%plus 6.8%
LINDEINDIALinde India6,859.00plus 8.73%58,496118.413.3316.3%11.8%31.5%––0.06%plus 5.4%
BERGEPAINTBerger Paints India478.35minus 5.28%55,77645.47.8820.6%18.4%15.3%4.2%9.4%0.84%minus 6.0%
FLUOROCHEMGujarat Fluorochemicals4,665.50minus 0.94%51,25175.96.119.6%8.3%24.1%−4.5%−24.3%0.06%plus 28.0%
ACUTAASAcutaas Chemicals3,786.60plus 0.42%31,00170.916.6927.7%26.1%39.4%29.4%62.3%0.07%plus 105.6%
HSCLHimadri Speciality Chemical568.15minus 0.07%28,66733.55.5821.0%18.5%21.8%3.7%51.5%0.14%plus 22.9%
Median of 7 peers–0.42%55,77670.913.3321.0%18.5%24.1%5.8%27.4%0.07%22.9%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrSep 25Dec 25Mar 26Jun 26Sep 26
8,5148,8509,22810,5219,954
7,0107,0697,4428,3538,397
1,5031,7811,7872,1691,557
17.7%20.1%19.4%20.6%15.6%
237227197279290
43.947.959.147.855.4
305313310304314
–−158–––
1,3921,4891,6142,0961,478
26.8%27.9%26.6%25.6%26.6%
9941,0601,1721,5391,068
10.3611.0512.2216.0511.14

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+1.1%
Profit CAGR 3Y
+1.7%
EPS CAGR 3Y
+1.8%
ROE
23.0%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
34,38935,39533,81535,541
–+2.9%minus 4.5%+5.1%
28,04527,78027,80128,705
6,3447,6156,0146,836
18.4%21.5%17.8%19.2%
214561297483
144205227195
8588531,0261,229
13323045.6109
5,6897,3485,1036,003
26.3%24.4%27.3%26.8%
4,1065,4603,6674,325
–+33.0%minus 32.8%+17.9%
42.8256.9438.2545.11

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
95.995.995.995.9
15,89618,63219,30421,276
1,9332,4742,2903,929
7,8738,7218,6819,234
25,79829,92430,37134,534
6,3749,00110,06011,100
1,0202,6981,4291,935
7838011,3261,271
4,6315,4264,6928,602
12,99011,99712,86511,627
25,79829,92430,37134,534

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
4,1936,1044,4247,088
−1,275−2,518−874−1,334
−2,140−2,983−3,753−2,377
779603−2033,378
−1,446−2,496−1,830−1,487
2,7483,6082,5945,601
−1,936−2,551−3,140−2,425

Shareholding pattern

Source: NSE filings
52.6%
promoters
  • Promoters52.65%
  • Public47.28%
  • Employee trusts0.08%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202652.65%47.28%plus 0.02
30 Jun 202652.63%47.29%0.00
31 Mar 202652.63%47.32%0.00
31 Dec 202552.63%47.31%0.00
30 Sep 202552.63%47.31%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you