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Asian Paints Results: Latest Quarterly Results & Analysis

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Asian Paints Ltd. 12 Nov 2025 15:29 PM
Result PDF

Q2FY26 Quarterly Result Announced for Asian Paints Ltd.

Paints company Asian Paints announced Q2FY26 results

  • Q2FY26 Consolidated Net Sales at Rs 8,514 crore, up 6.4%.
  • Q2FY26 Standalone Net Sales at Rs 7,336 crore, up 5.8%.
  • Q2FY26 Consolidated PBDIT at Rs 1,503 crore, up 21.3%.
  • Interim Dividend of Rs 4.5 per share (450%).

Amit Syngle, Managing Director & CEO, Asian Paints, said: “This was a quarter of focused innovation, good execution and regionalisation of initiatives, resulting in a strong performance. We saw an improvement in our domestic decorative business with a double-digit volume growth of 10.9% and a 6% increase in value, despite the challenges posed by an extensive and prolonged monsoon. This growth was driven by our ability to generate demand across urban and rural areas through various regional activations and intense marketing /brand building measures. Growth was further accelerated by enhanced performance in our Automotive and Industrial Protective Coatings segments, contributing to an overall 6.7% value growth in the domestic coatings business. In the International business, we delivered double-digit revenue growth, led by key markets in South Asia, the Middle East and Africa. While the Home Décor business continues to navigate headwinds, our progress with Beautiful Homes stores is promising. Our ongoing efforts to elevate cost efficiencies have delivered positive results, allowing us to increase our profit margins even as we increased investments in our brand and retailing initiatives. The business landscape continues to be challenging and highly dynamic. However, we remain steadfast in our commitment to strengthening our brand saliency and driving innovation, to deliver sustained performance and create value for all our stakeholders.”

Result PDF

Result PDF

Paints company Asian Paints announced Q1FY26 results

Consolidated Financial Highlights:

  • Consolidated Net Sales decreased by 0.2% to Rs 8,924.5 crore from Rs 8,943.2 crore
  • PBDIT [Profit before depreciation, interest, tax and other income] (before share in profit of associates) decreased by 4.1% to Rs 1,625.0 crore from Rs 1,693.8 crore
  • PBDIT Margin as % to Net Sales at 18.2% from 18.9% in the corresponding period of the previous year.
  • Profit before tax decreased by 5.9% to Rs 1,508.7 crore from Rs 1,603.6 crore.
  • Net Profit after minority interest decreased by 6.0% to Rs 1,099.8 crore from Rs 1,170.0 crore.

Standalone Financial Highlights:

  • Net Sales decreased by 1.2% to Rs 7,848.8 crore from Rs 7,943.7 crore.
  • PBDIT before Other Income for the quarter decreased by 4.8% to Rs 1,520.0 crore from Rs 1,595.9 crore
  • PBDIT Margin as % to Net Sales at 19.4% from 20.1% in the corresponding period of the previous year.
  • Profit before tax decreased by 7.6% to Rs 1,468.2 crore from Rs 1,589.3 crore.
  • Net Profit decreased by 7.5% to Rs 1,099.6 crore from Rs 1,189.2 crore

Business Highlights:

  • Decorative Business (India) registered volume growth of 3.9% with revenue decline of 1.2%
    • Subdued demand environment due to macro-economic uncertainties and early monsoon
    • Revenue affected on account of shift in mix
  • Home Décor categories saw a de-growth in Q1FY26 with pressure on household disposable incomes
  • International business registered a value growth of 8.4% on the back of growth in Asian markets, UAE and Egypt
  • Standalone PBDIT margin at 19.4%, down 70 bps
  • International business: Sales increased by 8.4% to Rs 736.1 crore from Rs 679.1 crore on the back of growth in Asian markets, UAE & Egypt. In constant currency terms, sales increased by 17.5%. PBT was Rs 38.0 crore as against Rs 6.5 crore in the corresponding period of previous year.

Amit Syngle, Managing Director & CEO of Asian Paints Said:  “The paint industry experienced a slight uptick this quarter, driven by marginally improved demand from urban centres, despite monsoons slowing the momentum in June. Our revenues for the coatings business in India were 0.2% lower than last year. Domestic Decorative paints business did relatively better compared to the earlier quarters, registering a volume growth of 3.9% and a revenue decline of 1.2%. The revenues from the Industrial Coatings business grew by 8.8%, on the back of good performance in Auto & Protective coating segments. The operating margins for the quarter were marginally lower on a year on year basis on account of higher sales and marketing investments.

The home décor business was slow due to subdued retail consumption however the retail chain of Beautiful Homes Stores did well. On the international front, the portfolio delivered a strong performance with a revenue growth of 11.1% on a like-to-like basis (20.4% in constant currency terms), with all key markets in the Middle East and South Asia performing well.

Confident in the long-term growth potential of home décor and paints industry, we continue to drive innovation and strengthen our brand saliency as we navigate the current demand challenges”

Result PDF

Paints company Asian Paints announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Consolidated Net Sales decreased by 4.3% to Rs 8,329.6 crore from Rs 8,701.5 crore.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 15.1% to Rs 1,436.2 crore from Rs 1,691.4 crore.
  • PBDIT Margin as % to Net Sales at 17.2% from 19.4% in the Q4FY24.
  • Profit before exceptional items and tax decreased by 25.8% to Rs 1,205.2 crore from Rs 1,624.1 crore.
  • Exceptional item of Rs 183.0 crore is an aggregate representing impairment loss of Rs 77.8 crore on 'Goodwill on Consolidation' and other Intangible assets recognized on White Teak, impairment loss of Rs 21.5 crore on 'Goodwill on Consolidation' recognized on acquisition of Causeway Paints, Sri Lanka and loss on disposal of Rs 83.7 crore in PT Asian Paints Indonesia & PT Asian Paints Color Indonesia.
  • Net Profit after minority interest decreased by 44.9% to Rs 692.1 crore from Rs 1,256.7 crore.

FY25 Financial Highlights:

  • Consolidated Net Sales decreased by 4.5% to Rs 33,797.4 crore from Rs 35,382.1 crore.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 20.8% to Rs 6,006.2 crore from Rs 7,585.0 crore.
  • PBDIT Margin as % to Net Sales at 17.8% from 21.4% in FY24.
  • Profit before exceptional items and tax decreased by 25.6% to Rs 5,466.2 crore from Rs 7,347.8 crore.
  • Exceptional item of Rs 363.1 crore is an aggregate representing impairment loss of Rs 201.8 crore on 'Goodwill on Consolidation' and other Intangible assets recognized on White Teak, impairment loss of Rs 21.5 crore on 'Goodwill on Consolidation' recognized on acquisition of Causeway Paints, Sri Lanka, loss on disposal of Rs 83.7 crore in PT Asian Paints Indonesia & PT Asian Paints Color Indonesia, and foreign exchange loss of Rs 56.2 crore pertaining to our subsidiary in Ethiopia.
  • Net Profit after minority interest decreased by 32.8% to Rs 3,667.2 crore from Rs 5,460.2 crore.

Result PDF

Paints company Asian Paints announced Q3FY25 results

  • Consolidated Net Sales decreased by 6.1% to Rs 8,521.5 crore from Rs 9,074.9 crore.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 20.4% to Rs 1,636.7 crore from Rs 2,056.1 crore.
  • PBDIT Margin as % to Net Sales at 19.2% from 22.7% in the Q3FY24.
  • Profit before tax decreased by 22.8% to Rs 1,518.2 crore from Rs 1,967.8 crore.
  • Net Profit after minority interest decreased by 23.3% to Rs 1,110.5 crore from Rs 1,447.7 crore.

Amit Syngle, Managing Director & CEO of Asian Paints, said: “The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centers. We registered a 6.6% decline in overall coatings business in India, including Industrial. The domestic decorative business delivered a 1.6% volume growth while the standalone revenues declined by 7.5% for the quarter impacted by the weak festive season demand. While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year on year basis.

The Industrial Business fared better with revenues growing by 3.8% supported by growth in the General Industrial and Refinish segments. We continued to see growth in our Home Decor Business progressing on our network expansion journey. On the International side, the portfolio registered 5% growth (17.1% in constant currency terms) driven by growth in the Middle East and recovering macro-economic conditions in key Asian markets.

In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation and customer centricity.”

Result PDF

Furniture, Furnishing & Paints company Asian Paints announced H1FY25 & Q2FY25 results

Q2FY25 Financial Highlights:

  • Consolidated Net Sales decreased by 5.3% to Rs 8,003.0 crore from Rs 8,451.9 crore.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 27.8% to Rs 1,239.5 crore from Rs 1,716.2 crore.
  • PBDIT Margin as % to Net Sales at 15.5% from 20.3% in the Q2FY24.
  • Profit before exceptional items and tax decreased by 31.0% to Rs 1,139.2 crore from Rs 1,650.9 crore.
  • Exceptional item of Rs 180.1 crore is an aggregate representing impairment provision on 'Goodwill on Consolidation' of Rs 124.0 crore, recognised on White Teak and foreign exchange loss pertaining to our subsidiary in Ethiopia of Rs 56.1 crore.
  • Net Profit after minority interest decreased by 42.4% to Rs 694.6 crore from Rs 1,205.4 crore.

H1FY25 Financial Highlights:

  • Consolidated Net Sales decreased by 3.7% to Rs 16,946.3 crore from Rs 17,605.7 crore.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 23.6% to Rs 2,933.3 crore from Rs 3,837.5 crore.
  • PBDIT Margin as % to Net Sales at 17.3% from 21.8% in the H1FY24.
  • Profit before exceptional items and tax decreased by 27.0% to Rs 2,742.8 crore from Rs 3,755.9 crore.
  • Net Profit after minority interest decreased by 32.3% to Rs 1,864.6 crore from Rs 2,755.8 crore.

Amit Syngle, Managing Director & CEO of Asian Paints, said: ‘’The paint industry faced a subdued demand environment during the quarter. Domestic Decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5% for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country. Operating margins were impacted by the price reductions taken last year, higher material prices and increased sales expenses. While we took price increases during the quarter, full impact of the same should flow through only in the second half of the year.

The Industrial Business did relatively better with single digit value growth supported by growth in the General Industrial, Protective Coatings and Refinish segments. We continued to register growth in our Home Décor categories across our Beautiful Homes Stores network, introducing new collections & product solutions. International Business portfolio registered a marginal decline in revenues for the quarter (8.7% growth in constant currency terms) despite unfavorable market conditions in certain key markets like Ethiopia and Bangladesh.

On the margin front, soft demand conditions, product mix and material price inflation affected margins in Q2. We expect margins to recover in the coming quarters on the back of anticipated softening in material prices coupled with price increases implemented in the last few months.

While demand conditions remain challenging, we continue to direct our efforts towards leveraging our brand strength, robust supply chain and distribution network to pursue growth.”

Result PDF

Furniture-Furnishing-Paints company Asian Paints announced Q1FY25 results:

Consolidated Financial Highlights:

  • Consolidated Net Sales decreased by 2.3% to Rs 8,943.2 crore from Rs 9,153.8 crore.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 20.2% to Rs 1,693.8 crore from Rs 2,121.3 crore.
  • PBDIT Margin as % to Net Sales at 18.9% from 23.2% in the corresponding period of the previous year.
  • Profit before exceptional items and tax decreased by 23.8% to Rs 1,603.6 crore from Rs 2,105.0 crore.
  • Net Profit after minority interest decreased by 24.5% to Rs 1,170.0 crore from Rs 1,550.4 crore. 

Standalone Financial Highlights:

  • Net Sales decreased by 2.9% to Rs 7,852.5 crore from Rs 8,084.9 crore.
  • PBDIT for the quarter decreased by 20.3% to Rs 1,593.0 crore from Rs 1,999.8 crore.
  • PBDIT Margin as % to Net Sales at 20.3% from 24.7% in the corresponding period of the previous year.
  • Profit before tax decreased by 21.1% to Rs 1,592.4 crore from Rs 2,018.2 crore.
  • Net Profit decreased by 20.9% to Rs 1,192.4 crore from Rs 1,508.4 crore.

Segment Highlights:

  • International business: Sales decreased by 2.3% to Rs 679.1 crore from Rs 695.1 crore on the back of economic uncertainty, forex crisis and liquidity issues in key markets of Asia and Egypt. In constant currency terms, sales increased by 1.8%. PBT before exceptional items was Rs 6.5 crore as against Rs 26.5 crore in the corresponding period of previous year.
  • Home Décor business:
    • Bath Fittings business: Sales increased by 10.3% to Rs 93.4 crore from Rs 84.7 crore. PBDIT loss was Rs 1.4 crore against loss of Rs 0.8 crore in the corresponding period of the previous year.
    • Kitchen business: Sales increased by 4.6% to Rs 100.4 crore from Rs 96.0 crore. PBDIT was Rs 0.9 crore as against profit of Rs 0.7 crore in the corresponding period of previous year.
    • White Teak and Weatherseal: Sales at White Teak increased by 14.3% to 29.7 crore from Rs 26.0 crore. Sales at Weatherseal increased by 17.6% to Rs 11.5 crore from Rs 9.8 crore. Both these recent acquisitions are gaining from synergies with the Asian Paints network. 
  • Industrial business:
    • APPPG: Sales were flat at Rs 293.2 crore from Rs 294.2 crore. PBT was Rs 29.8 crore as against Rs 39.2 crore in the corresponding period of previous year.
    • PPGAP: Sales increased by 9.6% to Rs 517.1 crore from Rs 471.9 crore. PBT was Rs 99.2 crore as against Rs 82.0 crore in the corresponding period of previous year.
  • The employee benefits expense for the quarter ended 30th June 2023, included reversal of Rs 38.9 crore in standalone books and Rs 40.7 crore in consolidated books consequent to the revision in the sick leave policy for certain classes of employees.
  • Installed capacity at the Mysuru plant has increased from 300,000 KL p.a. to 600,000 KL p.a.

Amit Syngle, Managing Director & CEO of Asian Paints, said: “Demand conditions for the paint industry were tough, impacted by the severe heatwave and general elections in the quarter. We delivered a good volume growth of 7% in the decorative segment aided by some movement in rural markets, however value declined by 3% impacted by the price decrease taken earlier in the year and shift in product mix. Unanticipated material price inflation coupled with supply chain challenges impacted profitability of the Decorative business for the quarter. The Industrial business did relatively better and grew by 5.8% by value backed by good growth in Auto OEM and powder coatings segment. Economy segment saw a good offtake aided by the launch of our revolutionary latex paint NeoBharat, which is part of our focused approach to make further inroads in the ‘bottom of the pyramid’ segment.

On the International front, geographies like Ethiopia and Sri Lanka grew well in Q1 on the back of gradual recovery in these economies, however key macroeconomic issues persisted in markets like Nepal, Bangladesh and Egypt impacting the overall performance for the International business. We saw a progressive quarter in Home Décor, with growth in all the categories and a strong growth in our Beautiful Home Stores.

In the near term, we expect demand conditions to improve at the back of improving rural sentiment and monsoons picking up gradually. We remain focused on driving growth through enhanced saliency of our brand, innovation and customer centricity.”

Result PDF

Asian Paints announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

Consolidated:

  • Consolidated Net Sales decreased by 0.6% to Rs 8,701.5 crore from Rs 8,750.8 crore.
  • Improvement in gross margins by about 120 basis points in Q4FY24 as compared to Q4 FY23.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 9.3% to Rs 1,691.4 crore from Rs 1,864.8 crore.
  • PBDIT Margin as % to Sales at 19.4% as compared to 21.3% in the corresponding period of the previous year.
  • Profit before exceptional items and tax decreased by 6.4% to Rs 1,624.1 crore from Rs 1,734.5 crore.
  • Net Profit after minority interest increased by 1.8% to Rs 1,256.7 crore from Rs 1,234.1 crore. 

Standalone:

  • Net Sales decreased by 1.9% to Rs 7,443.9 crore from Rs 7,589.2 crore.
  • Improvement in gross margins by about 140 basis points in Q4FY24 as compared to Q4 FY23.
  • PBDIT for the quarter decreased by 11.4% to Rs 1,548.8 crore from Rs 1,747.6 crore.
  • PBDIT Margin as % to Sales at 20.8% from 23.0% in the corresponding period of the previous year.
  • Profit before tax decreased by 8.0% to Rs 1,522.1 crore from Rs 1,654.0 crore.
  • Net Profit decreased by 2.0% to Rs 1,209.4 crore from Rs 1,233.7 crore.

FY24 Financial Highlights:

Consolidated:

  • Consolidated Net Sales increased by 3.0% to Rs 35,382.1 crore from Rs 34,367.8 crore.
  • Improvement in gross margins by about 480 basis points in FY24 as compared to FY23.
  • PBDIT (before share in profit of associates) increased by 21.2% to Rs 7,585.0 crore from Rs 6,259.8 crore.
  • PBDIT Margin as % to Sales improved to 21.4% from 18.2% in the previous year.
  • Profit before exceptional items and tax increased by 28.1% to Rs 7,347.8 crore from Rs 5,737.7 crore.
  • Net Profit after minority interest increased by 33.0% to Rs 5,460.2 crore from Rs 4,106.5 crore.

Standalone:

  • Net Sales increased by 2.6% to Rs 30,727.7 crore from Rs 29,953.1 crore.
  • Improvement in gross margins by about 520 basis points in FY24 as compared to FY23.
  • PBDIT for the period increased by 20.8% to Rs 7,030.4 crore from Rs 5,820.5 crore.
  • PBDIT Margin as % to Sales improved to 22.9% from 19.4% in the previous year.
  • Profit before tax increased by 27.6% to Rs 7,005.0 crore from Rs 5,489.6 crore.
  • Net Profit increased by 29.8% to Rs 5,321.6 crore from Rs 4,100.2 crore

Amit Syngle, Managing Director & CEO of Asian Paints, said “We crossed the Rs 35,000 crore consolidated revenue milestone in FY2024. Our Decorative & Industrial coatings combined, delivered a volume growth of 10% and value growth of 3.9% for the year with our Industrial segment registering double-digit value growth. We are the largest integrated Home Décor player. And during the year, we made good progress on launching new collections and expanding our store footprint as well as integrating our Home Décor offerings within our Beautiful Homes network. Profits for the year have grown in strong double digits supported by subdued material prices coupled with sourcing and formulation efficiencies.

Decorative Business volume grew at a healthy clip of 10% in the fourth quarter. However, revenues were 1.8% lower than last year impacted by the weak demand environment and downtrading, particularly in the Premium segment. The Economy and Luxury range though, grew well. Price cuts implemented in the last few months also affected the fourth quarter value. Overall, the coatings revenue including Industrial, was almost flat for the quarter. Our International Business has seen steady growth in the Middle Eastern and African markets but remains constrained by macro-economic headwinds in South Asia and Egypt. Despite these challenges, profit delivery in the Global business has been strong all through the year.

Looking ahead, we remain confident about a pick-up in demand conditions with a favorable monsoon forecast. We will continue to innovate with speed and invest in our brand, focusing on our consumers and keeping their interests at the forefront.” 

Result PDF

Furniture-Furnishing-Paints company Asian Paints announced Q3FY24 & 9MFY24 results:

Consolidated Q3FY24:

  • Consolidated Net Sales increased by 5.4% to Rs 9,074.9 crore from Rs 8,607.5 crore.
  • Improvement in gross margins by about 510 basis points in Q3FY24 as compared to Q3FY23.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before sharing in profit of associates) increased by 27.6% to Rs 2,056.1 crore from Rs 1,611.4 crore.
  • PBDIT Margin as % to Net Sales improved to 22.7% from 18.7% in the corresponding period of the previous year.
  • Profit before exceptional items and tax increased by 33.1% to Rs 1,967.8 crore from Rs 1,478.2 crore.
  • Net Profit after minority interest increased by 35.0% to Rs 1,447.7 crore from Rs 1,072.7 crore.

Consolidated 9MFY24:

  • Consolidated Net Sales increased by 4.2% to Rs 26,680.7 crore from Rs 25,617.0 crore.
  •  Improvement in gross margins by about 600 basis points in 9MFY24 as compared to 9MFY23.
  • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) increased by 34.1% to Rs 5,893.6 crore from Rs 4,395.1 crore.
  • PBDIT Margin as % to Net Sales improved to 22.1% from 17.2% in the previous year.
  • Profit before exceptional items and tax increased by 43.0% to Rs 5,723.7 crore from Rs 4,003.2 crore.
  • Net Profit after minority interest increased by 46.3% to Rs 4,203.5 crore from Rs 2,872.3 crore.

Standalone Q3FY24:

  • Net Sales increased by 5.2% to Rs 7,883.3 crore from Rs 7,492.2 crore.
  • Improvement in gross margins by about 550 basis points in Q3FY24 as compared to Q3FY23.
  • PBDIT for the quarter increased by 26.9% to Rs 1,897.1 crore from Rs 1,494.8 crore.
  • PBDIT Margin as % to Net Sales improved to 24.1% from 20.0% in the corresponding period of the previous year.
  • Profit before tax increased by 32.7% to Rs 1,914.2 crore from Rs 1,443.0 crore.
  • Net Profit increased by 32.9% to Rs 1,443.5 crore from Rs 1,085.9 crore.

Standalone 9MFY24:

  • Net Sales increased by 4.1% to Rs 23,283.8 crore from Rs 22,363.9 crore.
  • Improvement in gross margins by about 640 basis points in 9MFY24 as compared to 9MFY23.
  • PBDIT for the period increased by 34.6% to Rs 5,481.6 crore from Rs 4,072.9 crore.
  • PBDIT Margin as % to Net Sales improved to 23.5% from 18.2% in the corresponding period of the

“The quarter delivered a Decorative & Industrial coatings combined value growth of 6.1% with a strong double-digit Industrial coatings value growth. The Decorative Business grew well in the Luxury and Economy segments to register a robust 12 % volume growth and a value growth of 5.5%. Growth was supported by the extended festive season, though we saw some moderation in demand in the latter part of the quarter. Both our Auto OE and General Industrial coating businesses achieved sturdy revenue growths and good profit margins. Our International Business saw growth in the Middle East and Africa and registered increased profitability overall. It, however, continued to remain constrained by macroeconomic headwinds, and inflationary pressures in key geographies of South Asia and Egypt. We saw a better quarter in the Home Décor space, with new categories making headway, as we made good progress on integrating our offerings within our Beautiful Homes stores and network. Our margins gained significantly from growth in luxury products and softening raw material prices coupled with operational, formulation, and sourcing efficiencies in Q3.

Moving forward, we will maintain focus on driving strong sales growth and continue to invest in multiple initiatives and solutions for our customers, building on our leadership position.” said Amit Syngle, Managing Director & CEO of Asian Paints.

 

Result PDF

Furniture-furnishing Paints company Asian Paints announced Q2FY24 & H1FY24 results:

  • Consolidated Q2FY24:
    • Consolidated Net Sales increased by 0.3% to Rs 8,451.9 crore from Rs 8,430.6 crore.
    • Improvement in gross margins by about 770 basis points in Q2FY24 as compared to Q2FY23.
    • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share
      in profit of associates) increased by 39.8% to Rs 1,716.2 crore from Rs 1,227.7 crore.
    • PBDIT Margin as % to Net Sales improved to 20.3% from 14.6% in the corresponding period of the
      previous year.
    • Profit before exceptional items and tax increased by 50.9% to Rs 1,650.9 crore from Rs 1,094.2 crore.
    • Net Profit after minority interest increased by 54.0% to Rs 1,205.4 crore from Rs 782.7 crore.
  • Consolidated H1FY24:
    • Consolidated Net Sales increased by 3.5% to Rs 17,605.7 crore from Rs 17,009.5 crore.
    • Improvement in gross margins by about 650 basis points in H1FY24 as compared to H1FY23.
    • PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share
      in profit of associates) increased by 37.9% to Rs 3,837.5 crore from Rs 2,783.6 crore.
    • PBDIT Margin as % to Net Sales improved to 21.8% from 16.4% in the previous year.
    • Profit before exceptional items and tax increased by 48.7% to Rs 3,755.9 crore from Rs 2,525.0 crore.
    • Net Profit after minority interest increased by 53.1% to Rs 2,755.8 crore from Rs 1,799.6 crore.
  • Standalone Q2FY24:
    • Net Sales was flat at Rs 7,315.7 crore from Rs 7,315.9 crore.
    • Improvement in gross margins by about 830 basis points in Q2FY24 as compared to Q2FY23.
    • PBDIT for the quarter increased by 42.1% to Rs 1,584.7 crore from Rs 1,115.6 crore.
    • PBDIT Margin as % to Net Sales improved to 21.7% from 15.2% in the corresponding period of the
      previous year.
    • Profit before tax increased by 52.0% to Rs 1,550.6 crore from Rs 1,020.2 crore.
    • Net Profit increased by 52.0% to Rs 1,160.3 crore from Rs 763.3 crore.
  • Standalone H1FY24:
    • Net Sales increased by 3.6% to Rs 15,400.5 crore from Rs 14,871.7 crore.
    • Improvement in gross margins by about 680 basis points in H1FY24 as compared to H1FY23.
    • PBDIT for the period increased by 39.0% to Rs 3,584.5 crore from Rs 2,578.1 crore.
    • PBDIT Margin as % to Net Sales improved to 23.3% from 17.3% in the previous year.
    •  Profit before tax increased by 49.2% to Rs 3,568.8 crore from Rs 2,392.6 crore.
    • Net Profit increased by 49.9% to Rs 2,668.6 crore from Rs 1,780.6 crore.

“The domestic coatings business, decorative and industrial combined, registered a subdued 1.1% revenue growth in the quarter. The Domestic Decorative Paint business for Q2 was muted, registering a flat value sale with a 6% volume growth. The erratic monsoon impacted market sentiment potentially leading to the deferment of sales to October given the late Diwali this year. Growth in our Automotive & Refinish business was decent, while our General Industrial Coatings business sustained its double-digit growth trajectory. Our International Business, though supported by robust growth in the Middle East and an overall improved profitability, remained constrained by macro-economic challenges, inflation and forex unavailability in key geographies of South Asia and Egypt. While demand in the Home Décor space was soft on account of muted consumer sentiments, we continued to strengthen our décor foray with new collections, network and store expansions.

Operational, formulation and sourcing efficiencies coupled with moderating raw material prices benefitted our margins in Q2 and resulted in strong profit growth for the quarter. Looking towards the second half of the year, we remain optimistic about improved demand conditions well supported by the longer festive season and the overall buoyant domestic economic growth.” said Amit Syngle, Managing Director & CEO of Asian Paints.

 

Result PDF

Asian Paints announced Q1FY24 results:

  • Consolidated Q1FY24:
    • Net sales increased by 6.7% to Rs 9,153.8 crore from Rs 8,578.9 crore.
    • Improvement in gross margins by 530 basis points in Q1FY24 as compared to Q1FY23.
    • PBDIT [profit before depreciation, interest, tax, other income, and exceptional items] (before sharing in profit of associates) increased by 36.3% to Rs 2,121.3 crore from Rs 1,556.0 crore.
    • PBDIT margin as % to net sales improved to 23.2% from 18.1% in Q1FY23 and 21.3% in Q4FY23.
    • Profit before exceptional items and tax increased by 47.1% to Rs 2,105.0 crore from Rs 1,430.8 crore.
    • Net profit after minority interest increased by 52.5% to Rs 1,550.4 crore from Rs 1,016.9 crore
  • Standalone Q1FY24:
    • Net sales increased by 7.0% to Rs 8,084.9 crore from Rs 7,555.8 crore.
    • Improvement in gross margins by 550 basis points in Q1FY24 as compared to Q1FY23.
    • PBDIT for Q1FY24 increased by 36.7% to Rs 1,999.8 crore from Rs 1,462.6 crore.
    • PBDIT margin as % to net sales improved to 24.7% from 19.4% in Q1FY23 and 23.0% in Q4FY23.
    • Profit before tax increased by 47.1% to Rs 2,018.2 crore from Rs 1,372.4 crore.
    • Net profit increased by 48.3% to Rs 1,508.4 crore from Rs 1,017.3 crore.

“Our domestic decorative business registered double-digit volume growth and relatively healthy value growth, coming on a high base of the previous year. Both the auto OE and the general industrial coating businesses achieved strong double-digit revenue growth, led by growth in the protective & powder coatings segment. Our international business was supported by good deliveries from the Middle East region, however, continued macroeconomic challenges and adverse forex conditions in Asian markets, resulted in overall subdued growth for the international portfolio. On the Home Décor front, categories like fabrics, decorative lighting, UPVC doors & windows maintained their high growth trajectory. However, the Kitchen and Bath business segments were sluggish. 

Overall, we have recorded significant improvement in margins, both sequentially as well as on YoY basis, aided by strong efforts to drive operational, formulation, and sourcing efficiencies and supported by easing inflation in raw material prices. Looking ahead, we remain focused on pursuing growth and are confident about a robust festival season ahead”, said Amit Syngle, Managing Director & CEO of Asian Paints.

 

 

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