Asian Paints Ltd

Asian Paints Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Asian Paints Ltd

₹ 2,282 -0.41%
20 Dec - close price
asianpaints.com BSE: 500820 NSE: ASIANPAINT
About

Asian Paints is the largest home decor company in India. The 80+yyr old company has major brands like Asian Paints, Berger, Apco, etc under its umbrella. The co. is into wall paints, wall coverings, waterproofing, texture painting, wall stickers, mechanized tools, adhesives, modular kitchens, sanitaryware, lightings, soft furnishings, and uPVC windows.

Key Points

Business Segments

Website BSE NSE
  • Market Cap ₹ 2,18,923 Cr.
  • Current Price ₹ 2,282
  • High / Low ₹ 3,423 / 2,265
  • Stock P/E 47.7
  • Book Value ₹ 185
  • Dividend Yield 1.46 %
  • ROCE 39.5 %
  • ROE 31.3 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 20.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.4%
  • Company has been maintaining a healthy dividend payout of 59.5%

Cons

  • Stock is trading at 12.3 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Paints/Varnish Industry: Paints / Varnishes

Part of BSE Dividend Stability Index BSE Low Volatility Index Nifty Total Market BSE Quality Index Nifty 50 Equal Weight

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
6,152 7,491 6,760 7,586 7,344 7,522 7,626 8,114 7,342 7,913 7,481 7,882 6,868
5,277 6,023 5,397 6,124 6,229 6,027 5,878 6,114 5,757 6,016 5,932 6,289 5,746
Operating Profit 875 1,468 1,363 1,463 1,116 1,495 1,748 2,000 1,585 1,897 1,549 1,593 1,122
OPM % 14% 20% 20% 19% 15% 20% 23% 25% 22% 24% 21% 20% 16%
153 105 35 114 117 162 125 217 172 238 197 226 -18
Interest 18 21 14 20 24 25 25 26 28 31 31 30 39
Depreciation 180 184 181 184 189 189 194 172 179 190 194 196 207
Profit before tax 830 1,367 1,203 1,372 1,020 1,443 1,654 2,018 1,551 1,914 1,522 1,592 858
Tax % 25% 25% 25% 26% 25% 25% 25% 25% 25% 25% 21% 25% 30%
619 1,020 900 1,017 763 1,086 1,234 1,508 1,160 1,444 1,209 1,192 602
EPS in Rs 6.45 10.64 9.38 10.61 7.96 11.32 12.86 15.73 12.10 15.05 12.61 12.43 6.28
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
8,539 9,936 11,110 11,830 12,647 14,168 16,392 17,194 18,517 25,189 30,078 30,850 30,144
6,988 8,216 9,095 9,415 9,973 11,242 12,885 13,337 14,024 20,601 24,258 23,820 23,983
Operating Profit 1,551 1,719 2,015 2,415 2,674 2,926 3,507 3,857 4,493 4,588 5,820 7,030 6,161
OPM % 18% 17% 18% 20% 21% 21% 21% 22% 24% 18% 19% 23% 20%
126 225 173 249 300 275 285 324 366 398 518 825 643
Interest 34 29 31 27 22 24 81 78 72 70 93 115 131
Depreciation 127 212 223 235 295 311 541 690 697 722 756 734 787
Profit before tax 1,516 1,703 1,934 2,403 2,657 2,866 3,170 3,413 4,090 4,194 5,490 7,005 5,886
Tax % 31% 31% 31% 32% 32% 34% 33% 22% 25% 25% 25% 24%
1,050 1,169 1,327 1,623 1,802 1,895 2,132 2,654 3,052 3,135 4,100 5,322 4,448
EPS in Rs 10.95 12.19 13.84 16.92 18.78 19.75 22.23 27.67 31.82 32.68 42.75 55.48 46.37
Dividend Payout % 42% 43% 44% 44% 55% 44% 47% 43% 56% 59% 60% 60%
Compounded Sales Growth
10 Years: 12%
5 Years: 13%
3 Years: 19%
TTM: -2%
Compounded Profit Growth
10 Years: 17%
5 Years: 20%
3 Years: 21%
TTM: -8%
Stock Price CAGR
10 Years: 12%
5 Years: 5%
3 Years: -11%
1 Year: -32%
Return on Equity
10 Years: 28%
5 Years: 28%
3 Years: 28%
Last Year: 31%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 96 96 96 96 96 96 96 96 96 96 96 96 96
Reserves 2,926 3,505 4,134 5,830 6,999 7,702 8,747 9,357 11,993 13,253 15,490 18,329 17,650
54 48 40 36 39 11 614 663 648 714 892 1,168 1,174
2,570 3,071 3,004 2,764 3,224 3,778 4,226 3,471 4,843 5,845 6,052 6,388 6,741
Total Liabilities 5,646 6,720 7,274 8,725 10,358 11,588 13,683 13,588 17,581 19,908 22,530 25,982 25,661
2,102 2,012 1,965 2,629 2,605 2,569 5,221 4,961 4,763 4,554 4,643 5,360 6,234
CWIP 53 38 140 93 220 1,392 179 108 119 225 978 2,561 1,962
Investments 465 1,671 1,894 2,797 2,914 2,577 2,964 2,658 5,179 3,811 4,912 5,705 5,105
3,027 2,999 3,275 3,207 4,620 5,050 5,318 5,861 7,519 11,318 11,997 12,356 12,360
Total Assets 5,646 6,720 7,274 8,725 10,358 11,588 13,683 13,588 17,581 19,908 22,530 25,982 25,661

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,081 1,371 1,144 1,980 1,420 2,136 2,395 2,813 3,459 1,260 4,222 5,738
-440 -618 -292 -863 -584 -1,371 -833 -775 -436 -340 -1,397 -2,263
-591 -560 -728 -704 -956 -1,239 -1,089 -2,501 -583 -1,989 -2,185 -2,974
Net Cash Flow 51 194 124 413 -120 -474 473 -462 2,440 -1,069 640 500

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 27 26 24 23 29 29 28 24 36 42 42 43
Inventory Days 123 121 122 106 141 117 117 127 133 143 120 121
Days Payable 101 109 89 88 107 99 94 79 120 95 69 77
Cash Conversion Cycle 49 38 57 42 62 47 51 72 49 91 93 87
Working Capital Days 1 -2 7 14 31 25 23 42 44 70 64 61
ROCE % 53% 50% 49% 47% 41% 39% 37% 36% 36% 32% 36% 39%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63% 52.63%
20.48% 19.45% 18.51% 18.56% 18.11% 17.02% 17.48% 17.65% 17.32% 15.89% 15.27% 15.28%
7.15% 7.57% 8.42% 8.74% 9.16% 9.96% 10.01% 10.01% 10.52% 11.61% 12.30% 13.10%
0.04% 0.04% 0.04% 0.04% 0.04% 0.05% 0.05% 0.05% 0.06% 0.06% 0.06% 0.06%
19.68% 20.29% 20.37% 19.99% 20.02% 20.32% 19.82% 19.64% 19.44% 19.78% 19.68% 18.88%
0.02% 0.02% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.04% 0.06% 0.05%
No. of Shareholders 7,12,2619,46,87610,11,4479,11,6809,79,33110,82,6509,97,4559,85,2169,75,31911,05,32611,11,6019,75,807

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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