 "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")
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Asian Paints on Thursday reported a 45 per cent decline in net profit for the quarter ended March 2025 to ₹692.1 crore. Despite a 1.8 per cent volume rise in its decorative paints business, the company's net sales declined 4.3 per cent to ₹8,358.9 crore due to muted demand and increased competition.
The industrial business registered a 1.5 per cent value decline, impacted by macroeconomic challenges in Africa. However, key markets in West Asia and Asia performed well, with the international portfolio delivering 6 per cent revenue growth on a constant currency basis. Profit before interest, depreciation, and tax (PBIDT) stood at ₹1,559.1 crore, down 18.1 per cent.
“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 per cent, but standalone revenues declined by 5 per cent,” Amit Syngle, managing director and chief executive officer of Asian Paints.
“The adverse mix and overall lower revenues impacted the quarter’s operating margins on a year-on-year basis. The industrial business fared relatively better, growing by 6.1 per cent, aided by growth in the general industrial and automotive coatings segments. Overall, revenues from the coatings business in India declined by 4.1 per cent in the quarter,” Syngle added.
He also said that its home decor business faced multiple headwinds, resulting in a muted performance for the quarter. In the international portfolio, revenues declined by 1.5 per cent (6 per cent revenue growth in constant currency terms) and added, key markets in West Asia 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,” Syngle further stated.
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