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Last Updated: April 2, 2026, 2:34 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500710 | NSE: AKZOINDIA

Akzo Nobel India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹4,578.64Undervalued by 59.42%vs CMP ₹2,872.00

P/E (34.7) × ROE (32.2%) × BV (₹495.00) × DY (3.48%)

₹3,735.37Undervalued by 30.06%vs CMP ₹2,872.00
MoS: +23.1% (Adequate)Confidence: 53/100 (Moderate)Models: 3 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹6,706.5722%Under (+133.5%)
Graham NumberEarnings₹2,186.7816%Over (-23.9%)
Earnings PowerEarnings₹738.4413%Over (-74.3%)
DCFCash Flow₹10,518.4911%Under (+266.2%)
Net Asset ValueAssets₹495.037%Over (-82.8%)
EV/EBITDAEnterprise₹1,910.939%Over (-33.5%)
Earnings YieldEarnings₹4,293.607%Under (+49.5%)
ROCE CapitalReturns₹853.169%Over (-70.3%)
Revenue MultipleRevenue₹1,347.715%Over (-53.1%)
Consensus (9 models)₹3,735.37100%Undervalued
Key Drivers: EPS CAGR 46.5% lifts DCF — verify sustainability. | Wide model spread (₹495–₹10,518) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 46.5%

*Investments are subject to market risks

Investment Snapshot

69
Akzo Nobel India Ltd scores 69/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 41.7% ExcellentROE 32.2% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money70/100 · Strong
FII holding up 4.98% (6mo) AccumulatingDII holding up 12.09% MF buyingPromoter decreased by 8.56% Caution
Earnings Quality50/100 · Moderate
OPM stable around 16% Steady
Quarterly Momentum55/100 · Moderate
Revenue (4Q): -7% YoY DecliningProfit (4Q): +354% YoY Strong
Industry Rank75/100 · Strong
P/E 34.7 vs industry 38.5 In-lineROCE 41.7% vs industry 23.0% Above peersROE 32.2% vs industry 20.2% Above peers3Y sales CAGR: 9% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:34 am

Market Cap 13,077 Cr.
Current Price 2,872
Intrinsic Value₹3,735.37
High / Low 3,916/2,649
Stock P/E34.7
Book Value 495
Dividend Yield3.48 %
ROCE41.7 %
ROE32.2 %
Face Value 10.0
PEG Ratio0.75

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Akzo Nobel India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Akzo Nobel India Ltd 13,077 Cr. 2,872 3,916/2,64934.7 4953.48 %41.7 %32.2 % 10.0
Kansai Nerolac Paints Ltd 14,197 Cr. 176 275/15823.0 80.11.42 %13.0 %10.4 % 1.00
Sirca Paints India Ltd 2,401 Cr. 423 539/23139.0 78.00.35 %20.0 %14.9 % 10.0
Shalimar Paints Ltd 342 Cr. 40.9 119/34.4 34.00.00 %12.8 %22.6 % 2.00
Berger Paints India Ltd 48,716 Cr. 418 605/39143.5 53.90.91 %24.9 %20.3 % 1.00
Industry Average48,705.17 Cr1,025.9838.50157.501.21%23.02%20.17%4.17

All Competitor Stocks of Akzo Nobel India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 9879519999561,0339731,0369821,0501,022995835908
Expenses 844797837814866812867836884863861724772
Operating Profit 143155162142166162169146167159134111136
OPM % 14%16%16%15%16%17%16%15%16%16%14%13%15%
Other Income 126898101096391,882-13
Interest 3633332232323
Depreciation 21221921202222222322181819
Profit before tax 1321331481271521471541321461371221,972101
Tax % 26%28%26%26%25%26%26%26%26%22%26%15%27%
Net Profit 97951109411410911598109108911,68374
EPS in Rs 21.3920.9524.1320.6824.9923.8925.1621.5023.8523.6119.98369.5016.27

Last Updated: February 6, 2026, 7:47 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 6:02 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,3322,4422,6402,5722,7192,9182,6622,4213,1493,8023,9624,0913,760
Expenses 2,1412,1812,3802,2442,4202,5762,2912,0782,7143,2763,3283,4493,220
Operating Profit 192261260329300342370343434526633642540
OPM % 8%11%10%13%11%12%14%14%14%14%16%16%14%
Other Income 576811065240434121232635271,880
Interest 2223449101414121010
Depreciation 44535454586579767682828977
Profit before tax 2032753143374783163232783674565735702,333
Tax % 26%32%32%27%16%33%27%25%21%26%26%25%
Net Profit 1501862142474012112372082903354274291,955
EPS in Rs 32.1939.9345.9152.9485.8546.3352.1345.5963.6873.5893.7094.11429.36
Dividend Payout % 233%50%153%42%26%52%27%110%118%88%80%106%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)24.00%15.05%15.42%62.35%-47.38%12.32%-12.24%39.42%15.52%27.46%0.47%
Change in YoY Net Profit Growth (%)0.00%-8.95%0.37%46.93%-109.73%59.70%-24.56%51.66%-23.91%11.95%-26.99%

Akzo Nobel India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:9%
3 Years:9%
TTM:1%
Compounded Profit Growth
10 Years:11%
5 Years:13%
3 Years:14%
TTM:-6%
Stock Price CAGR
10 Years:11%
5 Years:10%
3 Years:21%
1 Year:-4%
Return on Equity
10 Years:24%
5 Years:26%
3 Years:30%
Last Year:32%

Last Updated: September 4, 2025, 10:40 pm

Balance Sheet

Last Updated: December 4, 2025, 12:55 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 47474747474646464646464646
Reserves 8018731,1169621,2441,0901,1921,2421,2131,2701,2841,2832,208
Borrowings 00333364647070606271
Other Liabilities 1,1918798788729389591,0241,1781,2611,3541,5131,5111,315
Total Liabilities 2,0391,7992,0431,8842,2312,0972,3252,5292,5902,7392,9032,9023,640
Fixed Assets 5025165235195395305745435205115264811,580
CWIP 31129232717161642731196774
Investments 62939460033657337784000000
Other Assets 8778769111,0061,0921,1731,6521,9692,0292,1562,2582,3541,987
Total Assets 2,0391,7992,0431,8842,2312,0972,3252,5292,5902,7392,9032,9023,640

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 171155263143181141375283121486486311
Cash from Investing Activity + 250239-156225-61854-225230-15-87123
Cash from Financing Activity + -438-410-113-392-126-360-157-174-346-302-439-460
Net Cash Flow -17-16-6-2450-34222-1166170-41-26
Free Cash Flow 5110723468789932725558382367204
CFO/OP 86%87%145%78%119%77%131%106%54%119%104%74%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow192.00261.00257.00326.00297.00339.00306.00279.00364.00456.00573.00580.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 484249585356546257535352
Inventory Days 86958910784851071351299510095
Days Payable 130119145164159131171220164138164151
Cash Conversion Cycle 417-71-229-10-232211-10-3
Working Capital Days -62-12-59151020-3-14144-222
ROCE %16%25%26%27%40%24%27%22%28%35%42%42%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%74.76%69.76%61.20%
FIIs 2.97%3.15%3.14%3.20%3.42%3.63%3.75%3.84%3.68%3.70%7.97%8.66%
DIIs 8.99%8.75%8.61%8.56%8.36%8.28%8.11%8.05%8.49%8.56%13.77%20.58%
Public 13.27%13.34%13.49%13.49%13.47%13.33%13.39%13.35%13.08%12.98%8.50%9.56%
No. of Shareholders 43,73545,23146,65747,32246,71246,66245,90648,26648,14048,92248,22650,314

Shareholding Pattern Chart

No. of Shareholders

Akzo Nobel India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund 1,335,913 1.01 374.061,296,9222026-02-23 03:29:503.01%
Nippon India Multi Cap Fund 911,504 0.52 255.22960,8852026-01-26 02:01:57-5.14%
ICICI Prudential Value Fund 905,063 0.42 253.42811,2062026-02-23 07:11:3911.57%
Aditya Birla Sun Life Large Cap Fund 741,494 0.68 207.62520,5502026-01-26 02:01:5742.44%
HDFC Childrens Fund 463,675 1.25 129.83N/AN/AN/A
HDFC Multi Cap Fund 460,471 0.67 128.93400,4712026-01-26 02:01:5714.98%
HDFC Hybrid Equity Fund 300,000 0.35 84177,7522026-01-26 02:01:5768.77%
Tata Small Cap Fund 287,484 0.75 80.5N/AN/AN/A
ICICI Prudential Equity & Debt Fund 200,000 0.11 56N/AN/AN/A
Tata Large & Mid Cap Fund 181,800 0.63 50.9N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 94.3193.6873.5863.7045.60
Diluted EPS (Rs.) 94.3193.6873.5863.7045.60
Cash EPS (Rs.) 114.04111.8591.7880.4462.22
Book Value[Excl.RevalReserv]/Share (Rs.) 292.09292.02289.03276.55282.88
Book Value[Incl.RevalReserv]/Share (Rs.) 292.35292.29289.30276.81283.14
Revenue From Operations / Share (Rs.) 899.16870.68835.63692.00532.17
PBDIT / Share (Rs.) 147.05146.77121.43100.0480.00
PBIT / Share (Rs.) 127.41128.68103.3083.3663.41
PBT / Share (Rs.) 125.25125.93100.2080.6161.14
Net Profit / Share (Rs.) 94.3993.7673.6563.7645.63
NP After MI And SOA / Share (Rs.) 94.3993.7673.6563.7645.63
PBDIT Margin (%) 16.3516.8514.5314.4515.03
PBIT Margin (%) 14.1614.7712.3612.0411.91
PBT Margin (%) 13.9214.4611.9911.6411.48
Net Profit Margin (%) 10.4910.768.819.218.57
NP After MI And SOA Margin (%) 10.4910.768.819.218.57
Return on Networth / Equity (%) 32.3132.1025.4823.0516.12
Return on Capital Employeed (%) 39.8839.5531.8226.9420.05
Return On Assets (%) 14.7914.6912.2211.198.20
Asset Turnover Ratio (%) 1.411.401.431.230.99
Current Ratio (X) 1.381.351.481.491.60
Quick Ratio (X) 0.960.921.000.921.15
Inventory Turnover Ratio (X) 6.733.323.303.082.56
Dividend Payout Ratio (NP) (%) 100.7296.0881.52109.8974.56
Dividend Payout Ratio (CP) (%) 83.3680.5465.4287.1054.68
Earning Retention Ratio (%) -0.723.9218.48-9.8925.44
Cash Earning Retention Ratio (%) 16.6419.4634.5812.9045.32
Interest Coverage Ratio (X) 68.2853.4239.1831.3935.34
Interest Coverage Ratio (Post Tax) (X) 44.8335.1324.7720.8721.16
Enterprise Value (Cr.) 16078.3610323.769851.798249.979768.88
EV / Net Operating Revenue (X) 3.932.612.592.624.03
EV / EBITDA (X) 24.0315.4617.8318.1226.84
MarketCap / Net Operating Revenue (X) 4.002.742.742.774.34
Retention Ratios (%) -0.723.9118.47-9.8925.43
Price / BV (X) 12.328.167.926.928.16
Price / Net Operating Revenue (X) 4.002.742.742.774.34
EarningsYield 0.020.030.030.030.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Akzo Nobel India Ltd. is a Public Limited Listed company incorporated on 12/03/1954 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L24292WB1954PLC021516 and registration number is 021516. Currently Company is involved in the business activities of Manufacture of paints and varnishes, enamels or lacquers. Company's Total Operating Revenue is Rs. 4091.20 Cr. and Equity Capital is Rs. 45.50 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Paints/Varnishes801A, South City Business Park, 770, Anandapur, Kolkata West Bengal 700107Contact not found
Management
NamePosition Held
Mr. Rajiv RajgopalChairman & Managing Director
Mr. Krishna RallapalliWholeTime Director & CFO
Mr. Rohit G TotlaWhole Time Director
Mr. Hemant SahaiIndependent Director
Mr. Anil ChaudhryIndependent Director
Ms. Namrata KaulIndependent Director

FAQ

What is the intrinsic value of Akzo Nobel India Ltd and is it undervalued?

As of 18 April 2026, Akzo Nobel India Ltd's intrinsic value is ₹3735.37, which is 30.06% higher than the current market price of ₹2,872.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (32.2 %), book value (₹495), dividend yield (3.48 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Akzo Nobel India Ltd?

Akzo Nobel India Ltd is trading at ₹2,872.00 as of 18 April 2026, with a FY2026-2027 high of ₹3,916 and low of ₹2,649. The stock is currently near its 52-week low. Market cap stands at ₹13,077 Cr..

How does Akzo Nobel India Ltd's P/E ratio compare to its industry?

Akzo Nobel India Ltd has a P/E ratio of 34.7, which is below the industry average of 38.50. This is broadly in line with or below the industry average.

Is Akzo Nobel India Ltd financially healthy?

Key indicators for Akzo Nobel India Ltd: ROCE of 41.7 % indicates efficient capital utilization; ROE of 32.2 % shows strong shareholder returns. Dividend yield is 3.48 %.

Is Akzo Nobel India Ltd profitable and how is the profit trend?

Akzo Nobel India Ltd reported a net profit of ₹429 Cr in Mar 2025 on revenue of ₹4,091 Cr. Compared to ₹290 Cr in Mar 2022, the net profit shows an improving trend.

Does Akzo Nobel India Ltd pay dividends?

Akzo Nobel India Ltd has a dividend yield of 3.48 % at the current price of ₹2,872.00. This is a relatively attractive yield for income-seeking investors.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Akzo Nobel India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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