Asian Paints (APL) is India’s largest decorative paint company. The company derives ~98% revenue from the paints business while 2% business comes from the home improvement business (kitchen and bathroom fittings).
Caters to ~1.5 lakh retail touchpoints across India
Despite being in a capital intensive business, the company has maintained a strong balance sheet with RoCE, RoE of ~31%, 27%, respectively
Q4FY23 Results
Strong performance on all fronts.
APL reported healthy revenue growth of ~11% YoY to ~₹ 8787 crore led by strong volume offtake. Decorative volume growth came in at 16% YoY led by robust demand and expansion of distribution networks. The company has not taken any price hike during Q4FY23
Easing raw material prices helped drive gross margin up 379 bps YoY. As a result, EBITDA margin expanded 293 bps YoY to 21.2%
PAT grew 44% YoY to ₹ 1258.4 crore tracking EBITDA margin expansion
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.”
Asian Paints Limited is engaged in manufacturing paints. The company has its market capitalization worth INR2,55,702.95 crore as of 16th April 2021. This company was established in 1942. The company has reported quarterly revenue of INR5,872.81 crore at the end of December 2020. This company is listed on the Bombay Stock Exchange (BSE), having the code 500820 and on the National Stock Exchange (NSE) with the symbol ASIANPAINT.
The company is an Indian multinational paint manufacturing company engaged in manufacturing, selling and distributing paints and products about home decor, bath fittings, and related services. The company has its headquarters in Mumbai.
In 1945, Asian paints Ltd. was incorporated, and the company changed its name to Asian Paints (India) Pvt. Ltd. in the year 1965. In 1973, the corporation became a public limited company. Asian Paints Ltd. is India's largest paint manufacturer, Asia's third-largest, and ranks among the world's top ten paint manufacturers. The company has 27 paint production plants in 22 countries and serves clients in 65 countries. The company has established its manufacturing plants in Maharashtra, Gujarat, Andhra Pradesh, Uttar Pradesh, Tamil Nadu and Haryana. Some of the subsidiaries of Asian Paints are- Sleek International Private Ltd., Asian Paints (Middle East) LLC, Asian Paints Industrial Coating Ltd. and Kitchen Grace India Private Ltd., among others. The company began commercial manufacture of water-based paints and intermediaries in the state of Karnataka in 2019, with a potential of 3 lakh kilolitres per year, which made its ultimate capacity of 6 Lakh KL p.a. and another plant at Visakhapatnam with an initial capacity of 3 Lakh KL p.a. and making the maximum capacity to 5 Lakh KL p.a. The firm offers a wide variety of facilities to meet the demands of large schemes such as co-operative housing associations, institutes, and government agencies. The company reported an increase in profits over the last two years, with Rs.840 crores in March 2019 and Rs.1240 crores in March 2020. The debt of the company stands Rs.1644 crores as of March 2021. The firm operates in all four decorative colours, including Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wall Finishes, and Exterior Wall Finishes, Enamels and Wood Finishes. Colour Worlds (Dealer Tinting Systems), Home Solutions (painting solutions Service), Kids World (painting solutions for kids' rooms), Colour Next (prediction of colour trends by in-depth research), and Royale Play Special Effect Paints are just a couple of the innovative paint ideas they've introduced to the Indian market.
Asian Paints Limited is engaged in manufacturing paints. The company has its market capitalization worth INR2,55,702.95 crore as of 16th April 2021. This company was established in 1942. The company has reported quarterly revenue of INR5,872.81 crore at the end of December 2020. This company is listed on the Bombay Stock Exchange (BSE), having the code 500820 and on the National Stock Exchange (NSE) with the symbol ASIANPAINT.
The company is an Indian multinational paint manufacturing company engaged in manufacturing, selling and distributing paints and products about home decor, bath fittings, and related services. The company has its headquarters in Mumbai.
In 1945, Asian paints Ltd. was incorporated, and the company changed its name to Asian Paints (India) Pvt. Ltd. in the year 1965. In 1973, the corporation became a public limited company. Asian Paints Ltd. is India's largest paint manufacturer, Asia's third-largest, and ranks among the world's top ten paint manufacturers. The company has 27 paint production plants in 22 countries and serves clients in 65 countries. The company has established its manufacturing plants in Maharashtra, Gujarat, Andhra Pradesh, Uttar Pradesh, Tamil Nadu and Haryana. Some of the subsidiaries of Asian Paints are- Sleek International Private Ltd., Asian Paints (Middle East) LLC, Asian Paints Industrial Coating Ltd. and Kitchen Grace India Private Ltd., among others. The company began commercial manufacture of water-based paints and intermediaries in the state of Karnataka in 2019, with a potential of 3 lakh kilolitres per year, which made its ultimate capacity of 6 Lakh KL p.a. and another plant at Visakhapatnam with an initial capacity of 3 Lakh KL p.a. and making the maximum capacity to 5 Lakh KL p.a. The firm offers a wide variety of facilities to meet the demands of large schemes such as co-operative housing associations, institutes, and government agencies. The company reported an increase in profits over the last two years, with Rs.840 crores in March 2019 and Rs.1240 crores in March 2020. The debt of the company stands Rs.1644 crores as of March 2021. The firm operates in all four decorative colours, including Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wall Finishes, and Exterior Wall Finishes, Enamels and Wood Finishes. Colour Worlds (Dealer Tinting Systems), Home Solutions (painting solutions Service), Kids World (painting solutions for kids' rooms), Colour Next (prediction of colour trends by in-depth research), and Royale Play Special Effect Paints are just a couple of the innovative paint ideas they've introduced to the Indian market.
Asian Paints share price as on 08 Sep 2024 is Rs. 3273.7. Over the past 6 months, the Asian Paints share price has increased by 16.07% and in the last one year, it has increased by 1.56%. The 52-week low for Asian Paints share price was Rs. 2670.1 and 52-week high was Rs. 3422.95.
You can buy Asian Paints Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Asian Paints Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Sep 06, 2024 04:03 PM the closing price of Asian Paints Ltd was Rs.3,273.70.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Sep 06, 2024 04:03 PM, the market cap of Asian Paints Ltd stood at Rs. 314,012.65 Cr.
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