Asian Paints slides as Q4 PAT tanks 45% YoY to Rs 1,257 cr; declares dividend of Rs 20.55/sh

Asian Paints declined 1.23% to Rs 2,304.05 after the company's consolidated net profit tumbled 44.92% to Rs 1,256.72 crore on 4.27% decline in revenue from operations to Rs 8,329.59 crore in Q4 FY25 over Q4 FY24.

PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 15.1% to Rs 1,436.2 crore in Q4 FY25 from Rs 1,691.4 crore recorded in Q4 FY24.

The PBDIT margin as a percentage of net sales decreased to 17.2% from 19.4% in the same period of the previous year.

Profit before tax declined by 25.79% to Rs 1,205.21 crore in Q4 FY25, compared with Rs 1,624.09 crore reported in Q4 FY24. The firm reported exceptional items of Rs 182.96 crore in Q4 FY25.

International business sales in Q4 FY25 decreased 1.5% to Rs 799.7 crore, up from Rs 812.3 crore in Q4 FY24, primarily due to currency devaluation in Ethiopia and Egypt, along with macroeconomic challenges in Bangladesh. However, in constant currency terms, sales grew by 6.0%. The segment reported a loss before tax (PBT) of Rs 109.0 crore in Q4 FY25, compared to a profit of Rs 44.2 crore in the same period last year.

During the period under review, sales in the Bath Fittings business increased by 3.7%, rising to Rs 91.9 crore in Q4 FY25, compared to Rs 88.7 crore recorded in Q4 FY24. The PBDIT loss in Q4 FY25 was Rs 2.7 crore, compared to a loss of Rs 10 crore posted in the same period a year ago.

The companys kitchen business sales tumbled 15.5% to Rs 85.1 crore in Q4 FY25, down from Rs 100.7 crore in Q4 FY24. The business recorded a PBDIT loss of Rs 13 crore in Q4 FY25, compared to a profit of Rs 2.7 crore recorded in same quarter last year.

The sales of White Teak in Q4 FY25 decreased by 57.9%, falling to Rs 57.9 crore, while sales at Weatherseal increased by 3.4% to Rs 16.2 crore.

During the quarter, industrial business (Asian Paints PPG) sales increased 10.8 crore in Q4 FY25 Rs 347.1 crore, compared to Rs 313.2 crore in the same period of the previous year, with PBT decreasing to Rs 28.9 crore from Rs 33.5 crore. Meanwhile, PPGAP sales increased by 2.9%, rising to Rs 484.9 crore from Rs 471.2 crore, while PBT fell to Rs 58.6 crore from Rs 68.9 crore in the corresponding period of the previous year.

The decorative business (India) recorded a volume growth of 1.8% in Q4 FY25, despite a revenue decline of 5.2%. Muted demand conditions, subdued consumer sentiment, downtrading, and heightened competitive intensity collectively impacted revenue performance during the quarter.

The industrial business grew by 6.1% in Q4 FY25, driven by strong performance in the General Industrial and Automotive segments.

Amit Syngle, managing director & CEO of Asian Paints, said, The weak demand conditions prevalent for the past few quarters continued to affect the paint industry even in the last quarter of the financial year. The demand for decorative coatings was only marginally better than in the third quarter.

The domestic decorative business registered a volume growth of 1.8%, but standalone revenues declined by 5%. The adverse mix and overall lower revenues impacted the quarters operating margins on a year-on-year basis. The industrial business fared relatively better, growing by 6.1%, aided by growth in the General Industrial and Automotive coatings segments.

Overall, revenues from the coatings business in India declined by 4.1% in the quarter, home decor business faced multiple headwinds, resulting in a muted performance for the quarter. In the international portfolio, revenues declined by 1.5% (6% revenue growth in constant currency terms).

Key markets in Middle East and Asia performed well, while markets in Africa faced macro-economic challenges. While the overall macroeconomic environment remains uncertain, we are cautiously optimistic about a recovery in demand conditions and continue to work diligently on leveraging our brand strength and driving operational efficiencies to pursue growth."

Meanwhile, the companys board recommended a final dividend of Rs 20.55 per equity share of Re 1 each, taking the total dividend for the fiscal year 2024-25 to Rs 24.8 per share. The record date for the final dividend has been set as 10 June 2025, whereas the payout, if approved by shareholders, will be made on 30 June 2025.

Asian Paints is India's leading paint company and ranked among the top eight decorative coatings companies in the world. Asian Paints is engaged in the business of manufacturing, selling, and distributing paints, coatings, and products related to home dor and bath fittings and providing related services.

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