Asian Paints Ltd is an Indian multinational paint company, headquartered in Mumbai. Founded 1 February 1942. Champaklal Choksey, Chimanlal Choksi,Suryakant Dani, Arvind Vakil. The company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing related services.
Business Segments
Revenue Increase ₹36,183 crore (US$4.3 billion) (2024). Operating income ₹7,215 crore (US$860 million) (2024). Total assets ₹29,924 crore (US$3.6 billion) (2024). The company has 27 paint manufacturing facilities in 15 countries, servicing consumers in over 60 countries. Asian Paints took up the market and reported an annual turnover of ₹23 crore in 1952 but with only 2% PBT margin. By 1967, it became the leading paints manufacturer in the country. In 2002, Asian Paints acquired a 60% stake in Egyptian paint manufacturer SCIB Chemicals for ₹24.5 crore (US$5.04 million). In 2022, Asian Paints acquired a 49% stake in the Indian decorative lighting company White Teak for ₹180 crore (US$22.9 million), before buying another 11% the following year.
2024 Financial Performance
Shares of Asian Paints, the country’s leading paint and decor company, fell by 9.5% to ₹2,506 per share during intraday trading on Monday, November 11, marking its lowest level since April 2021. Japanese brokerage firm Nomura lowered its target price for Asian Paints to ₹2,500 per share while maintaining its ‘Neutral’ rating. With a volume growth of -0.5%, Asian Paints’ performance was weaker than its peers, it said. its ‘Underperform’ rating on the stock, with a target price of ₹2,100.
The company reported a 43.71% decline in consolidated net profit, which fell to ₹693.66 crore for the September quarter. Revenue from operations dropped by 5.3% to ₹8,027.54 crore, primarily impacted by price cuts implemented last year. In the same period last year, revenue stood at ₹8,478.57 crore. Margin front, soft demand conditions, product mix, and material price inflation affected margins.
Meanwhile, in a separate filing, Asian Paints said its board had approved an interim dividend of ₹4.25 per equity share of the face value of Re 1 each for the financial year ending March 31, 2025. Stock price: ASIANPAINT (NSE) ₹2,538.80 -230.65 (-8.33%). Asian Paints share price today: The stock of Asian Paints has fallen 12% in the last five trading sessions.
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