 "Brokerages view on Asian Paints: Paint industry behemoth Asian Paints reported a weak set of numbers in the June quarter of financial year 2024-25 (Q1 FY25). The muted performance was on account of the heatwave, elections and an unfavourable product")
Asian Paints on Wednesday said its net profit grew 43 per cent to Rs 993.6 crore in the September quarter (Q2 FY26), with the domestic decorative paints business’ volumes rising 10.9 per cent and revenue growing 6 per cent.
India’s largest paint maker reported net sales of Rs 8,531.3 crore, up at 6.3 per cent from the previous year. International sales increased by 9.9 per cent to Rs 846.0 crore in Q2 FY26. In constant currency terms, sales increased by 10.6 per cent.
Profit before interest, depreciation and tax was Rs 1,740.3 crore, up 20.5 per cent.
“This was a quarter of focused innovation, good execution and regionalisation of initiatives, resulting in a strong performance,” said Amit Syngle, managing director and chief executive officer of Asian Paints. “We saw an improvement in our domestic decorative business with a double-digit volume growth of 10.9 per cent and a 6 per cent increase in value, despite the challenges posed by an extensive and prolonged monsoon.”
“This growth was driven by our ability to generate demand across urban and rural areas through various regional activations and intense marketing /brand building measures,” he said.
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Growth was further supported by improved performance in automotive and industrial protective coatings, leading to an overall 6.7 per cent value growth in the domestic coatings business. “In the international business, we delivered double-digit revenue growth, led by key markets in South Asia, the Middle East and Africa.”
Syngle said that while the company’s home décor business is “navigating headwinds”, its Beautiful Homes stores have shown promising progress.
“Our ongoing efforts to elevate cost efficiencies have delivered positive results, allowing us to increase our profit margins even as we increased investments in our brand and retailing initiatives. The business landscape continues to be challenging and highly dynamic. However, we remain steadfast in our commitment to strengthening our brand saliency and driving innovation, to deliver sustained performance and create value for all our stakeholders,” he said.
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