Asian Paints

₹2797.4 -42.3 | 1.5%

WEBSITE BSE:500820 NSE : ASIAN PAINTS 23 Mar, 16:01

Market Cap ₹268719 Cr.

Stock P/E 72.1

P/B 17.7

Current Price ₹2797.4

Book Value ₹ 158.1

Face Value 1

52W High ₹3590

Dividend Yield 0.68%

52W Low ₹ 2560.3

Edit Ratio

Asian Paints Research see more...

Asian Paints Ltd

As market tumbles, Asian Paints Limited should be a good bet

Overview Inc. Year: 1945Industry: Paints

Asian Paints Limited is engaged within the commercial enterprise of manufacturing, promoting and distribution of paints, coatings, products associated with domestic decor, bathtub fittings and providing associated offerings. Its segments include Paints and Home Improvement. Paints section is engaged in manufacturing and trading of paints and related services. Home Improvement section is engaged in production and buying and selling bathtub fitting merchandise and associated services The Company manufactures paints, varnishes, enamels, or lacquers, and surfacing preparations, which consist of organic composite solvents and thinners and different related products. It additionally manufactures organic and inorganic chemicals; metal sanitary ware such as baths, sinks, washbasins and similar articles and cosmetics and toiletries. It gives various offerings, along with indoors design provider, safe painting service, wood solutions, waterproofing, colour consultancy online and contractor finder services.

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

Asian Paints Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	5350	6788	6651	5585	7096	8527	7893	8607	8458	8637
Other Income	83	98	75	90	138	72	80	99	95	87
Total Income	5433	6886	6727	5675	7234	8599	7973	8706	8553	8723
Total Expenditure	4085	5001	5333	4672	6192	6985	6449	7051	7230	7025
Operating Profit	1348	1886	1394	1003	1043	1614	1524	1655	1323	1698
Interest	21	21	30	21	24	27	23	29	35	41
Depreciation	194	193	213	201	203	208	205	208	216	214
Exceptional Income / Expenses	0	0	0	0	0	0	-116	-24	0	0
Profit Before Tax	1134	1672	1150	781	816	1379	1180	1394	1072	1443
Provision for Tax	294	431	286	204	221	362	315	371	290	381
Profit After Tax	840	1240	864	577	595	1016	865	1023	782	1061
Adjustments	-10	-2	-12	-8	1	-1	-15	-6	1	11
Profit After Adjustments	830	1238	852	569	596	1016	850	1017	783	1073
Adjusted Earnings Per Share	8.7	12.9	8.9	5.9	6.2	10.6	8.9	10.6	8.2	11.2

Asian Paints Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	9632	10939	12715	14183	14271	15168	16887	19350	20263	21713	29101	33595
Other Income	107	114	134	170	213	262	288	233	304	303	380	361
Total Income	9740	11053	12849	14353	14485	15431	17175	19583	20568	22016	29481	33955
Total Expenditure	8121	9201	10711	11940	11494	12174	13680	15586	16105	16857	24298	27755
Operating Profit	1619	1852	2138	2413	2991	3256	3495	3997	4463	5159	5184	6200
Interest	43	42	48	42	49	37	41	110	102	92	95	128
Depreciation	121	155	246	266	276	335	360	622	781	791	816	843
Exceptional Income / Expenses	0	0	-10	-28	-52	0	0	0	0	0	-116	-140
Profit Before Tax	1454	1655	1834	2077	2614	2934	3093	3264	3580	4276	4156	5089
Provision for Tax	434	496	572	650	844	943	1042	1097	856	1098	1103	1357
Profit After Tax	1021	1160	1263	1427	1769	1990	2052	2167	2723	3178	3053	3731
Adjustments	-32	-46	-44	-32	-24	-51	-13	-11	-18	-39	-23	-9
Profit After Adjustments	989	1114	1219	1395	1745	1939	2039	2156	2705	3139	3031	3723
Adjusted Earnings Per Share	10.3	11.6	12.7	14.5	18.2	20.2	21.3	22.5	28.2	32.7	31.6	38.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	34%	15%	14%	12%
Operating Profit CAGR	0%	9%	10%	12%
PAT CAGR	-4%	12%	9%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-7%	23%	20%	19%
ROE Average	23%	26%	26%	30%
ROCE Average	31%	34%	35%	41%

Asian Paints Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	2749	3384	4039	4742	6525	7604	8410	9471	10130	12806	13812
Minority's Interest	137	161	246	264	384	375	328	361	404	423	388
Borrowings	55	47	41	78	73	41	28	19	19	15	45
Other Non-Current Liabilities	185	262	290	311	429	500	546	1218	1205	1186	1144
Total Current Liabilities	2587	2930	3459	3519	3149	3885	4451	5180	4380	5926	7571
Total Liabilities	5712	6785	8075	8915	10559	12405	13763	16249	16138	20355	22958
Fixed Assets	1301	2441	2562	2660	3416	3304	3732	6497	6272	5859	5519
Other Non-Current Assets	905	337	599	915	1408	2136	3117	2125	2286	2470	2287
Total Current Assets	3507	4006	4915	5339	5735	6966	6914	7627	7580	12027	15152
Total Assets	5712	6785	8075	8915	10559	12405	13763	16249	16138	20355	22958

Asian Paints Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	616	614	736	920	1050	1578	1668	846	1280	929	3421
Cash Flow from Operating Activities	700	1187	1402	1188	2243	1527	2113	2470	3038	3683	986
Cash Flow from Investing Activities	-386	-499	-605	-478	-866	-656	-1599	-944	-521	-548	-322
Cash Flow from Financing Activities	-327	-601	-626	-576	-849	-756	-1379	-1117	-2871	-650	-1808
Net Cash Inflow / Outflow	-13	86	171	134	528	115	-865	408	-355	2485	-1143
Closing Cash & Cash Equivalent	614	736	926	1067	1578	1668	846	1280	929	3421	2283

Asian Paints Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	10.31	11.61	12.71	14.54	18.19	20.22	21.26	22.48	28.2	32.73	31.59
CEPS(Rs)	11.9	13.7	15.73	17.65	21.32	24.24	25.15	29.08	36.53	41.38	40.34
DPS(Rs)	4	4.6	5.3	6.1	7.5	10.3	8.7	10.5	12	17.85	19.15
Book NAV/Share(Rs)	28.65	35.28	42.11	49.44	68.02	79.27	87.68	98.73	105.61	133.51	143.85
Core EBITDA Margin(%)	13.9	13.8	13.61	13.56	15.56	15.69	16.05	16.99	17.8	19.08	13.97
EBIT Margin(%)	13.77	13.48	12.79	12.81	14.91	15.57	15.69	15.23	15.76	17.16	12.37
Pre Tax Margin(%)	13.37	13.15	12.46	12.56	14.64	15.37	15.48	14.73	15.33	16.8	12.09
PAT Margin (%)	9.39	9.21	8.58	8.63	9.91	10.43	10.27	9.78	11.66	12.49	8.88
Cash Profit Margin (%)	10.5	10.44	10.25	10.24	11.45	12.18	12.07	12.59	15	15.6	11.26
ROA(%)	19.77	18.56	17	16.8	18.17	17.33	15.68	14.44	16.82	17.42	14.1
ROE(%)	41.35	37.81	34.02	32.51	31.41	28.18	25.62	24.24	27.79	27.71	22.95
ROCE(%)	54	49.86	47.17	44.85	44.35	39.58	36.65	35.44	35.78	36.95	30.65
Receivable days	22.73	25.55	25.92	25.3	24.21	25.18	29.02	29.97	28.93	31.54	34.37
Inventory Days	48.75	49.71	48.35	47.77	43.51	44.23	48.27	47.84	51.1	51.55	52.83
Payable days	86.73	89.94	93.08	89.38	83.95	90.54	89.89	86.07	84.87	97.41	87.14
PER(x)	31.41	42.32	43.01	55.6	47.75	52.98	52.72	66.38	59.1	77.51	97.54
Price/Book(x)	11.3	13.93	12.98	16.36	12.77	13.51	12.78	15.11	15.78	19	21.42
Dividend Yield(%)	1.24	0.94	0.97	0.75	0.86	0.96	0.78	0.7	0.72	0.7	0.62
EV/Net Sales(x)	3.2	4.27	4.12	5.48	5.83	6.76	6.37	7.4	7.87	11.19	10.15
EV/Core EBITDA(x)	19.03	25.22	24.53	32.24	27.83	31.48	30.79	35.85	35.73	47.12	57.01
Net Sales Growth(%)	24.73	13.56	16.24	11.55	0.63	6.28	11.33	14.58	4.72	7.15	34.03
EBIT Growth(%)	16.47	13.34	10.9	12.58	25.66	11.57	5.51	7.64	9.12	18.61	-2.65
PAT Growth(%)	15.8	13.61	8.9	13.03	23.96	12.49	3.08	5.63	25.66	16.7	-3.93
EPS Growth(%)	17.25	12.66	9.42	14.47	25.09	11.13	5.13	5.74	25.48	16.05	-3.46
Debt/Equity(x)	0.13	0.09	0.06	0.09	0.05	0.07	0.06	0.07	0.04	0.03	0.06
Current Ratio(x)	1.36	1.37	1.42	1.52	1.82	1.79	1.55	1.47	1.73	2.03	2
Quick Ratio(x)	0.74	0.74	0.82	0.88	1.19	1.12	0.96	0.86	0.96	1.39	1.19
Interest Cover(x)	34.52	40.35	39.22	50.17	54.34	79.59	75.59	30.55	35.98	47.66	44.56
Total Debt/Mcap(x)	0.01	0.01	0	0.01	0	0.01	0	0	0	0	0

Asian Paints Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	52.79	52.79	52.79	52.79	52.79	52.63	52.63	52.63	52.63	52.63
FII	19.84	21.13	20.38	20.72	20.96	20.48	19.45	18.51	18.56	18.11
DII	8.2	7.1	7.35	7.3	6.88	7.19	7.61	8.46	8.78	9.2
Public	19.16	18.98	19.48	19.18	19.37	19.7	20.32	20.4	20.03	20.06
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	50.64	50.64	50.64	50.64	50.64	50.48	50.48	50.48	50.48	50.48
FII	19.03	20.27	19.55	19.88	20.1	19.64	18.65	17.75	17.81	17.37
DII	7.87	6.81	7.05	7	6.6	6.9	7.3	8.11	8.42	8.83
Public	18.38	18.2	18.68	18.4	18.58	18.9	19.49	19.57	19.21	19.24
Others	0	0	0	0	0	0	0	0	0	0
Total	95.92	95.92	95.92	95.92	95.92	95.92	95.92	95.92	95.92	95.92