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Last Updated: March 6, 2026, 2:00 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500820 | NSE: ASIANPAINT

Asian Paints Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: March 6, 2026, 2:00 am

Market Cap 2,19,402 Cr.
Current Price 2,288
Intrinsic Value₹1,931.65
High / Low 2,986/2,175
Stock P/E53.8
Book Value 204
Dividend Yield1.08 %
ROCE25.7 %
ROE20.6 %
Face Value 1.00
PEG Ratio11.01

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

View Share Price Target for Asian Paints Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Asian Paints Ltd 2,19,402 Cr. 2,288 2,986/2,17553.8 2041.08 %25.7 %20.6 % 1.00
Berger Paints India Ltd 50,725 Cr. 435 605/43045.3 53.90.87 %24.9 %20.3 % 1.00
Kansai Nerolac Paints Ltd 15,635 Cr. 193 275/19025.3 80.11.29 %13.0 %10.4 % 1.00
Akzo Nobel India Ltd 12,924 Cr. 2,836 3,916/2,64934.3 4953.53 %41.7 %32.2 % 10.0
Sirca Paints India Ltd 2,572 Cr. 453 539/23141.8 78.00.33 %20.0 %14.9 % 10.0
Industry Average50,283.00 Cr1,042.9240.10157.501.18%23.02%20.17%4.17

All Competitor Stocks of Asian Paints Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 8,6378,7879,1828,4799,1038,7318,9708,0288,5498,3598,9398,5318,867
Expenses 7,0256,9237,0616,7627,0477,0397,2766,7886,9136,9237,3147,0287,086
Operating Profit 1,6111,8652,1211,7162,0561,6911,6941,2401,6371,4361,6251,5031,781
OPM % 19%21%23%20%23%19%19%15%19%17%18%18%20%
Other Income 12210422819418621219325193-6022923769
Interest 41394651545455635653444448
Depreciation 214220198209220226228242256301301305313
Profit before tax 1,4781,7102,1051,6511,9681,6241,6049591,5181,0221,5091,3921,489
Tax % 26%26%25%25%25%21%26%28%26%31%26%27%28%
Net Profit 1,0971,2581,5751,2321,4751,2751,1876941,1287011,1171,0181,074
EPS in Rs 11.1812.8716.1612.5715.0913.1012.207.2411.587.2211.4710.3611.05

Last Updated: February 6, 2026, 11:17 pm

Below is a detailed analysis of the quarterly data for Asian Paints Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

  • For Sales, as of Dec 2025, the value is 8,867.00 Cr.. The value appears strong and on an upward trend. It has increased from 8,531.00 Cr. (Sep 2025) to 8,867.00 Cr., marking an increase of 336.00 Cr..
  • For Expenses, as of Dec 2025, the value is 7,086.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 7,028.00 Cr. (Sep 2025) to 7,086.00 Cr., marking an increase of 58.00 Cr..
  • For Operating Profit, as of Dec 2025, the value is 1,781.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,503.00 Cr. (Sep 2025) to 1,781.00 Cr., marking an increase of 278.00 Cr..
  • For OPM %, as of Dec 2025, the value is 20.00%. The value appears strong and on an upward trend. It has increased from 18.00% (Sep 2025) to 20.00%, marking an increase of 2.00%.
  • For Other Income, as of Dec 2025, the value is 69.00 Cr.. The value appears to be declining and may need further review. It has decreased from 237.00 Cr. (Sep 2025) to 69.00 Cr., marking a decrease of 168.00 Cr..
  • For Interest, as of Dec 2025, the value is 48.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 44.00 Cr. (Sep 2025) to 48.00 Cr., marking an increase of 4.00 Cr..
  • For Depreciation, as of Dec 2025, the value is 313.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 305.00 Cr. (Sep 2025) to 313.00 Cr., marking an increase of 8.00 Cr..
  • For Profit before tax, as of Dec 2025, the value is 1,489.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,392.00 Cr. (Sep 2025) to 1,489.00 Cr., marking an increase of 97.00 Cr..
  • For Tax %, as of Dec 2025, the value is 28.00%. The value appears to be increasing, which may not be favorable. It has increased from 27.00% (Sep 2025) to 28.00%, marking an increase of 1.00%.
  • For Net Profit, as of Dec 2025, the value is 1,074.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,018.00 Cr. (Sep 2025) to 1,074.00 Cr., marking an increase of 56.00 Cr..
  • For EPS in Rs, as of Dec 2025, the value is 11.05. The value appears strong and on an upward trend. It has increased from 10.36 (Sep 2025) to 11.05, marking an increase of 0.69.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 1:15 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 12,22013,61514,27115,06216,82519,24020,21121,71329,10134,48935,49533,90634,696
Expenses 10,21711,37211,54612,06813,62115,47516,04416,85724,29828,22927,91027,89928,350
Operating Profit 2,0042,2432,7252,9943,2043,7654,1674,8564,8046,2607,5856,0066,346
OPM % 16%16%19%20%19%20%21%22%17%18%21%18%18%
Other Income 124142213338336274350332296431821350475
Interest 48424937411101089295144205227189
Depreciation 2462662763353606227807918168588531,0261,220
Profit before tax 1,8342,0772,6142,9603,1383,3063,6294,3044,1885,6897,3485,1035,412
Tax % 31%31%32%32%33%33%24%26%26%26%24%27%
Net Profit 1,2631,4271,8032,0162,0982,2082,7743,2073,0854,1955,5583,7103,910
EPS in Rs 12.7114.5418.1920.2221.2622.4828.2032.7331.5942.8156.9238.2340.10
Dividend Payout % 42%42%41%51%41%47%43%55%61%60%58%65%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)12.98%26.35%11.81%4.07%5.24%25.63%15.61%-3.80%35.98%32.49%-33.25%
Change in YoY Net Profit Growth (%)0.00%13.36%-14.54%-7.75%1.18%20.39%-10.02%-19.41%39.78%-3.49%-65.74%

Asian Paints 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:10%
5 Years:11%
3 Years:5%
TTM:-4%
Compounded Profit Growth
10 Years:11%
5 Years:8%
3 Years:8%
TTM:-24%
Stock Price CAGR
10 Years:13%
5 Years:6%
3 Years:-9%
1 Year:-21%
Return on Equity
10 Years:26%
5 Years:26%
3 Years:26%
Last Year:21%

Last Updated: September 4, 2025, 9:35 pm

Balance Sheet

Last Updated: December 4, 2025, 12:51 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 96969696969696969696969696
Reserves 3,9434,6466,4297,5088,3149,37510,03412,71013,71615,89618,63219,30419,483
Borrowings 2494183235605331,3201,1181,0931,5871,9332,4742,2903,557
Other Liabilities 3,7873,7543,7114,2414,8205,4594,8896,4567,5607,8548,6988,6658,213
Total Liabilities 8,0758,91410,55912,40513,76316,24916,13820,35522,95825,77929,90130,35531,349
Fixed Assets 2,5622,6603,4163,3043,7326,4976,2725,8595,5195,7707,1479,2209,219
CWIP 721961072581,4052101401834261,0202,6981,2541,766
Investments 1,4241,5882,7122,6522,1412,5692,0194,7373,2484,2624,5884,7255,431
Other Assets 4,0194,4714,3246,1926,4856,9747,7079,57713,76514,72815,46815,15614,932
Total Assets 8,0758,91410,55912,40513,76316,24916,13820,35522,95825,77929,90130,35531,349

Below is a detailed analysis of the balance sheet data for Asian Paints Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2025, the value is 96.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 96.00 Cr..
  • For Reserves, as of Sep 2025, the value is 19,483.00 Cr.. The value appears strong and on an upward trend. It has increased from 19,304.00 Cr. (Mar 2025) to 19,483.00 Cr., marking an increase of 179.00 Cr..
  • For Borrowings, as of Sep 2025, the value is 3,557.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 2,290.00 Cr. (Mar 2025) to 3,557.00 Cr., marking an increase of 1,267.00 Cr..
  • For Other Liabilities, as of Sep 2025, the value is 8,213.00 Cr.. The value appears to be improving (decreasing). It has decreased from 8,665.00 Cr. (Mar 2025) to 8,213.00 Cr., marking a decrease of 452.00 Cr..
  • For Total Liabilities, as of Sep 2025, the value is 31,349.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 30,355.00 Cr. (Mar 2025) to 31,349.00 Cr., marking an increase of 994.00 Cr..
  • For Fixed Assets, as of Sep 2025, the value is 9,219.00 Cr.. The value appears to be declining and may need further review. It has decreased from 9,220.00 Cr. (Mar 2025) to 9,219.00 Cr., marking a decrease of 1.00 Cr..
  • For CWIP, as of Sep 2025, the value is 1,766.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,254.00 Cr. (Mar 2025) to 1,766.00 Cr., marking an increase of 512.00 Cr..
  • For Investments, as of Sep 2025, the value is 5,431.00 Cr.. The value appears strong and on an upward trend. It has increased from 4,725.00 Cr. (Mar 2025) to 5,431.00 Cr., marking an increase of 706.00 Cr..
  • For Other Assets, as of Sep 2025, the value is 14,932.00 Cr.. The value appears to be declining and may need further review. It has decreased from 15,156.00 Cr. (Mar 2025) to 14,932.00 Cr., marking a decrease of 224.00 Cr..
  • For Total Assets, as of Sep 2025, the value is 31,349.00 Cr.. The value appears strong and on an upward trend. It has increased from 30,355.00 Cr. (Mar 2025) to 31,349.00 Cr., marking an increase of 994.00 Cr..

Notably, the Reserves (19,483.00 Cr.) exceed the Borrowings (3,557.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1,4021,1882,2431,5272,1132,4702,6323,6839864,1936,1044,424
Cash from Investing Activity + -586-465-866-681-1,556-918-518-541-317-1,282-2,548-941
Cash from Financing Activity + -626-576-849-756-1,379-1,117-2,465-650-1,808-2,140-2,982-3,753
Net Cash Flow 19014752890-822434-3512,492-1,138771573-270

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-247.00-416.00-321.00-558.00-530.002.003.003.003.005.005.004.00

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 333230353836324449495046
Inventory Days 121123108138117119127134142121122142
Days Payable 102848410195908011996717981
Cash Conversion Cycle 5270547260657959949993107
Working Capital Days 51115222216343757544952
ROCE %45%42%42%38%36%33%33%34%29%34%38%26%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%52.63%
FIIs 17.02%17.48%17.65%17.32%15.89%15.27%15.28%13.61%12.23%11.85%11.64%12.78%
DIIs 9.96%10.01%10.01%10.52%11.61%12.30%13.10%13.98%15.51%20.98%21.50%21.08%
Government 0.05%0.05%0.05%0.06%0.06%0.06%0.06%0.06%0.06%0.06%0.07%0.07%
Public 20.32%19.82%19.64%19.44%19.78%19.68%18.88%19.66%19.51%14.41%14.09%13.37%
Others 0.04%0.04%0.04%0.04%0.04%0.06%0.05%0.05%0.05%0.07%0.06%0.06%
No. of Shareholders 10,82,6509,97,4559,85,2169,75,31911,05,32611,11,6019,75,80711,92,87612,13,83611,71,14511,08,40410,00,999

Shareholding Pattern Chart

No. of Shareholders

Asian Paints 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
SBI Large Cap Fund 8,300,000 3.68 2015.49N/AN/AN/A
ICICI Prudential Large Cap Fund 6,282,695 1.99 1525.636,060,4612026-02-23 02:13:243.67%
SBI Equity Hybrid Fund 5,700,000 1.7 1384.13N/AN/AN/A
SBI Focused Fund 5,300,000 2.99 1287N/AN/AN/A
SBI Large & Midcap Fund 3,844,000 2.49 933.44N/AN/AN/A
SBI Multicap Fund 2,604,000 2.75 632.33N/AN/AN/A
Mirae Asset Large Cap Fund 2,114,041 1.27 513.35N/AN/AN/A
ICICI Prudential Multi Asset Fund 1,951,954 0.59 473.992,342,9502026-02-23 02:13:24-16.69%
ICICI Prudential Balanced Advantage Fund 1,841,439 0.64 447.162,044,4392026-01-26 03:18:22-9.93%
SBI Balanced Advantage Fund 1,747,750 1.06 424.412,500,0002025-12-15 00:50:35-30.09%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 38.2556.9542.8331.5932.73
Diluted EPS (Rs.) 38.2556.9442.8231.5932.73
Cash EPS (Rs.) 47.9165.4551.7040.3441.38
Book Value[Excl.RevalReserv]/Share (Rs.) 202.25195.25171.45148.03137.92
Book Value[Incl.RevalReserv]/Share (Rs.) 202.25195.25171.45148.03137.92
Revenue From Operations / Share (Rs.) 353.48370.05359.56303.39226.36
PBDIT / Share (Rs.) 68.5986.2569.2954.0453.78
PBIT / Share (Rs.) 57.8977.3660.3445.5345.53
PBT / Share (Rs.) 51.7375.2258.3343.3344.58
Net Profit / Share (Rs.) 37.2156.5542.7631.8333.13
NP After MI And SOA / Share (Rs.) 38.2356.9242.8131.5932.73
PBDIT Margin (%) 19.4023.3019.2717.8123.75
PBIT Margin (%) 16.3720.9016.7815.0020.11
PBT Margin (%) 14.6320.3216.2214.2819.69
Net Profit Margin (%) 10.5215.2811.8910.4914.63
NP After MI And SOA Margin (%) 10.8115.3811.9010.4114.45
Return on Networth / Equity (%) 18.9029.1525.6721.9424.51
Return on Capital Employeed (%) 24.9734.6332.3328.3330.23
Return On Assets (%) 12.0718.2415.9113.1815.41
Long Term Debt / Equity (X) 0.010.000.000.000.00
Total Debt / Equity (X) 0.040.050.060.050.02
Asset Turnover Ratio (%) 1.121.271.411.341.10
Current Ratio (X) 2.092.062.092.002.03
Quick Ratio (X) 1.261.371.311.191.39
Inventory Turnover Ratio (X) 5.365.852.803.272.62
Dividend Payout Ratio (NP) (%) 84.7446.3746.4857.4410.23
Dividend Payout Ratio (CP) (%) 66.2140.1138.4545.258.17
Earning Retention Ratio (%) 15.2653.6353.5242.5689.77
Cash Earning Retention Ratio (%) 33.7959.8961.5554.7591.83
Interest Coverage Ratio (X) 28.9840.3246.0154.3356.30
Interest Coverage Ratio (Post Tax) (X) 18.3227.4429.7334.2135.68
Enterprise Value (Cr.) 224973.19273706.83265479.52295900.32243477.40
EV / Net Operating Revenue (X) 6.647.717.7010.1711.21
EV / EBITDA (X) 34.2033.0839.9457.0847.20
MarketCap / Net Operating Revenue (X) 6.617.697.6810.1611.21
Retention Ratios (%) 15.2553.6253.5142.5589.76
Price / BV (X) 11.5614.5816.5621.4019.00
Price / Net Operating Revenue (X) 6.617.697.6810.1611.21
EarningsYield 0.010.020.010.010.01

After reviewing the key financial ratios for Asian Paints Ltd, here is a detailed analysis based on the latest available data and recent trends:

  • For FaceValue, as of Mar 25, the value is 1.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 1.00.
  • For Basic EPS (Rs.), as of Mar 25, the value is 38.25. This value is within the healthy range. It has decreased from 56.95 (Mar 24) to 38.25, marking a decrease of 18.70.
  • For Diluted EPS (Rs.), as of Mar 25, the value is 38.25. This value is within the healthy range. It has decreased from 56.94 (Mar 24) to 38.25, marking a decrease of 18.69.
  • For Cash EPS (Rs.), as of Mar 25, the value is 47.91. This value is within the healthy range. It has decreased from 65.45 (Mar 24) to 47.91, marking a decrease of 17.54.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 202.25. It has increased from 195.25 (Mar 24) to 202.25, marking an increase of 7.00.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 202.25. It has increased from 195.25 (Mar 24) to 202.25, marking an increase of 7.00.
  • For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 353.48. It has decreased from 370.05 (Mar 24) to 353.48, marking a decrease of 16.57.
  • For PBDIT / Share (Rs.), as of Mar 25, the value is 68.59. This value is within the healthy range. It has decreased from 86.25 (Mar 24) to 68.59, marking a decrease of 17.66.
  • For PBIT / Share (Rs.), as of Mar 25, the value is 57.89. This value is within the healthy range. It has decreased from 77.36 (Mar 24) to 57.89, marking a decrease of 19.47.
  • For PBT / Share (Rs.), as of Mar 25, the value is 51.73. This value is within the healthy range. It has decreased from 75.22 (Mar 24) to 51.73, marking a decrease of 23.49.
  • For Net Profit / Share (Rs.), as of Mar 25, the value is 37.21. This value is within the healthy range. It has decreased from 56.55 (Mar 24) to 37.21, marking a decrease of 19.34.
  • For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 38.23. This value is within the healthy range. It has decreased from 56.92 (Mar 24) to 38.23, marking a decrease of 18.69.
  • For PBDIT Margin (%), as of Mar 25, the value is 19.40. This value is within the healthy range. It has decreased from 23.30 (Mar 24) to 19.40, marking a decrease of 3.90.
  • For PBIT Margin (%), as of Mar 25, the value is 16.37. This value is within the healthy range. It has decreased from 20.90 (Mar 24) to 16.37, marking a decrease of 4.53.
  • For PBT Margin (%), as of Mar 25, the value is 14.63. This value is within the healthy range. It has decreased from 20.32 (Mar 24) to 14.63, marking a decrease of 5.69.
  • For Net Profit Margin (%), as of Mar 25, the value is 10.52. This value exceeds the healthy maximum of 10. It has decreased from 15.28 (Mar 24) to 10.52, marking a decrease of 4.76.
  • For NP After MI And SOA Margin (%), as of Mar 25, the value is 10.81. This value is within the healthy range. It has decreased from 15.38 (Mar 24) to 10.81, marking a decrease of 4.57.
  • For Return on Networth / Equity (%), as of Mar 25, the value is 18.90. This value is within the healthy range. It has decreased from 29.15 (Mar 24) to 18.90, marking a decrease of 10.25.
  • For Return on Capital Employeed (%), as of Mar 25, the value is 24.97. This value is within the healthy range. It has decreased from 34.63 (Mar 24) to 24.97, marking a decrease of 9.66.
  • For Return On Assets (%), as of Mar 25, the value is 12.07. This value is within the healthy range. It has decreased from 18.24 (Mar 24) to 12.07, marking a decrease of 6.17.
  • For Long Term Debt / Equity (X), as of Mar 25, the value is 0.01. This value is below the healthy minimum of 0.2. It has increased from 0.00 (Mar 24) to 0.01, marking an increase of 0.01.
  • For Total Debt / Equity (X), as of Mar 25, the value is 0.04. This value is within the healthy range. It has decreased from 0.05 (Mar 24) to 0.04, marking a decrease of 0.01.
  • For Asset Turnover Ratio (%), as of Mar 25, the value is 1.12. It has decreased from 1.27 (Mar 24) to 1.12, marking a decrease of 0.15.
  • For Current Ratio (X), as of Mar 25, the value is 2.09. This value is within the healthy range. It has increased from 2.06 (Mar 24) to 2.09, marking an increase of 0.03.
  • For Quick Ratio (X), as of Mar 25, the value is 1.26. This value is within the healthy range. It has decreased from 1.37 (Mar 24) to 1.26, marking a decrease of 0.11.
  • For Inventory Turnover Ratio (X), as of Mar 25, the value is 5.36. This value is within the healthy range. It has decreased from 5.85 (Mar 24) to 5.36, marking a decrease of 0.49.
  • For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 84.74. This value exceeds the healthy maximum of 50. It has increased from 46.37 (Mar 24) to 84.74, marking an increase of 38.37.
  • For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 66.21. This value exceeds the healthy maximum of 50. It has increased from 40.11 (Mar 24) to 66.21, marking an increase of 26.10.
  • For Earning Retention Ratio (%), as of Mar 25, the value is 15.26. This value is below the healthy minimum of 40. It has decreased from 53.63 (Mar 24) to 15.26, marking a decrease of 38.37.
  • For Cash Earning Retention Ratio (%), as of Mar 25, the value is 33.79. This value is below the healthy minimum of 40. It has decreased from 59.89 (Mar 24) to 33.79, marking a decrease of 26.10.
  • For Interest Coverage Ratio (X), as of Mar 25, the value is 28.98. This value is within the healthy range. It has decreased from 40.32 (Mar 24) to 28.98, marking a decrease of 11.34.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 18.32. This value is within the healthy range. It has decreased from 27.44 (Mar 24) to 18.32, marking a decrease of 9.12.
  • For Enterprise Value (Cr.), as of Mar 25, the value is 224,973.19. It has decreased from 273,706.83 (Mar 24) to 224,973.19, marking a decrease of 48,733.64.
  • For EV / Net Operating Revenue (X), as of Mar 25, the value is 6.64. This value exceeds the healthy maximum of 3. It has decreased from 7.71 (Mar 24) to 6.64, marking a decrease of 1.07.
  • For EV / EBITDA (X), as of Mar 25, the value is 34.20. This value exceeds the healthy maximum of 15. It has increased from 33.08 (Mar 24) to 34.20, marking an increase of 1.12.
  • For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 6.61. This value exceeds the healthy maximum of 3. It has decreased from 7.69 (Mar 24) to 6.61, marking a decrease of 1.08.
  • For Retention Ratios (%), as of Mar 25, the value is 15.25. This value is below the healthy minimum of 30. It has decreased from 53.62 (Mar 24) to 15.25, marking a decrease of 38.37.
  • For Price / BV (X), as of Mar 25, the value is 11.56. This value exceeds the healthy maximum of 3. It has decreased from 14.58 (Mar 24) to 11.56, marking a decrease of 3.02.
  • For Price / Net Operating Revenue (X), as of Mar 25, the value is 6.61. This value exceeds the healthy maximum of 3. It has decreased from 7.69 (Mar 24) to 6.61, marking a decrease of 1.08.
  • For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.02 (Mar 24) to 0.01, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Asian Paints Ltd as of March 6, 2026 is: ₹1,828.25

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 6, 2026, Asian Paints Ltd is Overvalued by 20.09% compared to the current share price ₹2,288.00

Intrinsic Value of Asian Paints Ltd as of March 6, 2026 is: ₹1,917.58

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 6, 2026, Asian Paints Ltd is Overvalued by 16.19% compared to the current share price ₹2,288.00

Last 5 Year EPS CAGR: 4.89%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 35.83%, which is a positive sign.
  2. The company has higher reserves (11,537.69 cr) compared to borrowings (1,342.69 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (22.69 cr) and profit (3.54 cr) over the years.
  1. The stock has a high average Working Capital Days of 31.17, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 75.33, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Asian Paints Ltd:
    1. Net Profit Margin: 10.52%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 24.97% (Industry Average ROCE: 23.02%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 18.9% (Industry Average ROE: 20.17%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 18.32
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.26
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 53.8 (Industry average Stock P/E: 40.1)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.04
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Asian Paints Ltd. is a Public Limited Listed company incorporated on 24/10/1945 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L24220MH1945PLC004598 and registration number is 004598. Currently Company is involved in the business activities of Manufacture of other chemical products. Company's Total Operating Revenue is Rs. 29552.65 Cr. and Equity Capital is Rs. 95.92 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Paints/Varnishes6A & 6B, Shantinagar, Mumbai Maharashtra 400055Contact not found
Management
NamePosition Held
Mr. R SeshasayeeChairman & Ind.Director
Mr. Manish ChoksiVice Chairman & Non Exe.Dire
Mr. Amit SyngleManaging Director & CEO
Mr. Malav DaniNon Executive Director
Ms. Amrita VakilNon Executive Director
Mr. Jigish ChoksiNon Executive Director
Ms. Nehal VakilNon Executive Director
Mr. Ashish ChoksiNon Executive Director
Mr. Milind SarwateIndependent Director
Ms. Ireena VittalIndependent Director
Mr. Soumitra BhattacharyaIndependent Director
Dr. Gopichand KatragaddaIndependent Director
Mr. Varun BerryIndependent Director

FAQ

What is the intrinsic value of Asian Paints Ltd?

Asian Paints Ltd's intrinsic value (as of 06 March 2026) is ₹1917.58 which is 16.19% lower the current market price of ₹2,288.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹2,19,402 Cr. market cap, FY2025-2026 high/low of ₹2,986/2,175, reserves of ₹19,483 Cr, and liabilities of ₹31,349 Cr.

What is the Market Cap of Asian Paints Ltd?

The Market Cap of Asian Paints Ltd is 2,19,402 Cr..

What is the current Stock Price of Asian Paints Ltd as on 06 March 2026?

The current stock price of Asian Paints Ltd as on 06 March 2026 is ₹2,288.

What is the High / Low of Asian Paints Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Asian Paints Ltd stocks is ₹2,986/2,175.

What is the Stock P/E of Asian Paints Ltd?

The Stock P/E of Asian Paints Ltd is 53.8.

What is the Book Value of Asian Paints Ltd?

The Book Value of Asian Paints Ltd is 204.

What is the Dividend Yield of Asian Paints Ltd?

The Dividend Yield of Asian Paints Ltd is 1.08 %.

What is the ROCE of Asian Paints Ltd?

The ROCE of Asian Paints Ltd is 25.7 %.

What is the ROE of Asian Paints Ltd?

The ROE of Asian Paints Ltd is 20.6 %.

What is the Face Value of Asian Paints Ltd?

The Face Value of Asian Paints Ltd is 1.00.

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 Asian Paints 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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