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    Asian Paints Limited

    India's largest paint and decor company, No.1 in decorative coatings, expanding into home decor

    Consumer Durables
    Consumer Discretionary
    View ASIANPAINT earnings calls
    ₹2,732.9
    +6.75% from avg

    Overview

    Price

    ₹2,732.9

    Market Cap

    ₹2.6L Cr

    Sector

    Consumer Durables

    Consumer Discretionary

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital9696969696969696
    Reserves10.0k12.7k13.7k15.9k18.6k19.3k19.0k21.3k
    Borrowings1.1k1.1k1.6k1.9k2.5k2.3k1.6k3.9k
    Other Liabilities4.9k6.5k7.6k7.9k8.7k8.7k6.0k9.2k
    Total Liabilities16.1k20.4k23.0k25.8k29.9k30.4k26.7k34.5k
    AssetsFixed Assets6.3k5.9k5.5k5.8k7.1k9.2k7.8k9.6k
    CWIP1401834261.0k2.7k1.3k3171.8k
    Investments2.0k4.7k3.2k4.3k4.6k4.7k6.9k7.1k
    Other Assets7.7k9.6k13.8k14.7k15.5k15.2k11.7k16.0k
    Total Assets16.1k20.4k23.0k25.8k29.9k30.4k26.7k34.5k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating2.5k3.0k3.7k9864.2k6.1k4.4k7.1k
    Cash from Investing-918-518-541-317-1.3k-2.5k-941-1.3k
    Cash from Financing-1.1k-2.9k-650-1.8k-2.1k-3.0k-3.8k-2.4k
    SummaryCapital Expenditure
    Free Cash Flow1.3k2.7k3.4k4752.8k3.6k2.6k5.6k
    FCF Margin

    Valuation

    Assumptions

    Current — ASIANPAINT
    Price
    ₹2,733
    EPS (TTM)
    ₹45.10
    PE (TTM)
    60.6
    Profit growth
    1.6%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (60.0×) and current (60.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹2,733
    vs
    Fair value · 15% return
    ₹1,212
    56%Overvalued

    At 1.6% growth and a 60× exit, ₹2733 only delivers your return if you pay ₹1,212. The price is currently baking in 18% growth.

    EPS grows 1.6%/yr for 5 years, then fades to 6% over 2, exits at 60×.

    YearGrowthEPS (₹)
    FY271.6%45.82
    FY281.6%46.55
    FY291.6%47.30
    FY301.6%48.06
    FY311.6%48.83
    FY323.8% ·fade50.68
    FY336.0% ·fade53.72

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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