ASIANPAINT
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Street View: 'Exciting days' far away for India's Asian Paints
July 30 (Reuters) - ** Asian Paints ASPN.NS, India's largest paint-maker by market share, reported Q1 profit in line with market estimates on Tuesday
** Shares up 0.8%
TWO STEPS FORWARD, ONE STEP BACK
** Motilal Oswal ("neutral"; PT: 2,500 rupees) says exciting days far away for co
** Adds while co seeing some urban green shoots, uncertainty in demand and intense competition, softening raw material prices not rendering required confidence in earnings
** Ambit Capital ("sell"; PT: 2,070 rupees) says margin pressures to intensify as anti-dumping duty on Chinese imports seen driving up costs for co, despite controlled channel spends
** Cuts FY26 EBITDA estimates by 5%
** Centrum ("add"; PT: 2,650 rupees) says co taking two steps forward and one step back
** Sees persisting challenges in near-term competitive intensity, despite positive demand commentary
** Notes raw material softness to be offset by anti-dumping duty, co's growing ad spends, discounting margins
(Reporting by Kashish Tandon in Bengaluru)
((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))
July 30 (Reuters) - ** Asian Paints ASPN.NS, India's largest paint-maker by market share, reported Q1 profit in line with market estimates on Tuesday
** Shares up 0.8%
TWO STEPS FORWARD, ONE STEP BACK
** Motilal Oswal ("neutral"; PT: 2,500 rupees) says exciting days far away for co
** Adds while co seeing some urban green shoots, uncertainty in demand and intense competition, softening raw material prices not rendering required confidence in earnings
** Ambit Capital ("sell"; PT: 2,070 rupees) says margin pressures to intensify as anti-dumping duty on Chinese imports seen driving up costs for co, despite controlled channel spends
** Cuts FY26 EBITDA estimates by 5%
** Centrum ("add"; PT: 2,650 rupees) says co taking two steps forward and one step back
** Sees persisting challenges in near-term competitive intensity, despite positive demand commentary
** Notes raw material softness to be offset by anti-dumping duty, co's growing ad spends, discounting margins
(Reporting by Kashish Tandon in Bengaluru)
((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))
PREVIEW-India's Asian Paints edges lower ahead of Q1 results
** India's Asian Paints ASPN.NS slips 0.37% to 2,351 rupees ahead of Q1 results
** Analysts, on average, expect Q1 consol net profit to fall 5.3% y/y to 11.08 bln rupees ($127.65 mln), per data compiled by LSEG
** India's largest paintmaker has been grappling with intense competition, antitrust allegations and weak urban retail demand for its mainstay decorative paints, and has been resorting to price cuts to woo buyers
** Asian Paints' Q1 volume growth likely in range of 3% to 7% - pre-earnings estimates from four brokerages
** Stock, on avg, rated "sell"; median TP at 2,250 rupees - data compiled by LSEG
** YTD stock up 3%
($1 = 86.8030 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** India's Asian Paints ASPN.NS slips 0.37% to 2,351 rupees ahead of Q1 results
** Analysts, on average, expect Q1 consol net profit to fall 5.3% y/y to 11.08 bln rupees ($127.65 mln), per data compiled by LSEG
** India's largest paintmaker has been grappling with intense competition, antitrust allegations and weak urban retail demand for its mainstay decorative paints, and has been resorting to price cuts to woo buyers
** Asian Paints' Q1 volume growth likely in range of 3% to 7% - pre-earnings estimates from four brokerages
** Stock, on avg, rated "sell"; median TP at 2,250 rupees - data compiled by LSEG
** YTD stock up 3%
($1 = 86.8030 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Asian Paints aims to quash Indian antitrust probe, saying investigation order mishandled
India's paints sector thriving amid booming economic growth
Asian Paints, rival Birla lock horns in antitrust case
Top player Asian Paints seeks to quash antitrust investigation
Birla has alleged Asian Paints abused its market position
By Aditya Kalra, Arpan Chaturvedi and Aditi Shah
NEW DELHI, July 25 (Reuters) - India's biggest paints maker, Asian Paints ASPN.NS, is seeking to quash an antitrust inquiry, arguing that officials damaged its reputation by publishing – and then deleting – allegations against its CEO from the investigation order, legal papers show.
Rapid infrastructure and real estate growth in India, one of the world's fastest-growing economies, has made the paints business a lucrative sector worth around $9.5 billion.
The Competition Commission of India is investigating Asian Paints, which has a 52% market share, after officials found merit in a complaint filed by rival Birla Opus that Asian Paints had abused its dominant position by offering discounts and incentives to dealers.
In a court challenge, Asian Paints told Mumbai judges the CCI's July 1 order contained an allegation that its CEO warned raw material suppliers in a meeting that they would get less business from the company if they dealt with Birla.
Within 24 hours, the reference was deleted and a new modified order was issued by the CCI, Asian Paints said in the filing, adding that both orders were still online and such an unexplained change was against legal procedures.
"The concurrent existence of two different orders ... has undermined the integrity of the proceedings, creating confusion in the market," Asian Paints said in its July 14 high court filing, seen by Reuters.
"The contents of the first impugned order have also caused grave reputational damage to the petitioner and to its CEO."
The CCI did not respond to Reuters queries on Asian Paints' lawsuit or why the changes were made to its order.
Asian Paints, its CEO Amit Syngle and Birla Opus, the paints arm of billionaire Kumar Mangalam Birla's Grasim Industries GRAS.NS, also did not respond to queries.
Reuters is first to report the contents of Asian Paints' 250-page lawsuit, which is not public.
Birla has dented some of Asian Paints' dominance after it launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.
Asian Paints also presented a table to the judge citing other changes made in the revised order, including the deletion of a reference that its representatives were allegedly concerned about some dealers using Birla's specialist paint devices.
Making such changes indicates the CCI took its decision with a "pre-meditated mind", Asian Paints' filing said.
Ahead of the CCI's decision to investigate, Reuters on June 6 first reported Birla's confidential antitrust complaint against Asian Paints. Asian Paints submitted that story to the CCI and also inquired about the case, the filing shows.
Asian Paints' court challenge will be heard on August 6.
(Reporting by Aditya Kalra, Arpan Chaturvedi and Aditi Shah
Editing by Mark Potter)
(([email protected];))
India's paints sector thriving amid booming economic growth
Asian Paints, rival Birla lock horns in antitrust case
Top player Asian Paints seeks to quash antitrust investigation
Birla has alleged Asian Paints abused its market position
By Aditya Kalra, Arpan Chaturvedi and Aditi Shah
NEW DELHI, July 25 (Reuters) - India's biggest paints maker, Asian Paints ASPN.NS, is seeking to quash an antitrust inquiry, arguing that officials damaged its reputation by publishing – and then deleting – allegations against its CEO from the investigation order, legal papers show.
Rapid infrastructure and real estate growth in India, one of the world's fastest-growing economies, has made the paints business a lucrative sector worth around $9.5 billion.
The Competition Commission of India is investigating Asian Paints, which has a 52% market share, after officials found merit in a complaint filed by rival Birla Opus that Asian Paints had abused its dominant position by offering discounts and incentives to dealers.
In a court challenge, Asian Paints told Mumbai judges the CCI's July 1 order contained an allegation that its CEO warned raw material suppliers in a meeting that they would get less business from the company if they dealt with Birla.
Within 24 hours, the reference was deleted and a new modified order was issued by the CCI, Asian Paints said in the filing, adding that both orders were still online and such an unexplained change was against legal procedures.
"The concurrent existence of two different orders ... has undermined the integrity of the proceedings, creating confusion in the market," Asian Paints said in its July 14 high court filing, seen by Reuters.
"The contents of the first impugned order have also caused grave reputational damage to the petitioner and to its CEO."
The CCI did not respond to Reuters queries on Asian Paints' lawsuit or why the changes were made to its order.
Asian Paints, its CEO Amit Syngle and Birla Opus, the paints arm of billionaire Kumar Mangalam Birla's Grasim Industries GRAS.NS, also did not respond to queries.
Reuters is first to report the contents of Asian Paints' 250-page lawsuit, which is not public.
Birla has dented some of Asian Paints' dominance after it launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.
Asian Paints also presented a table to the judge citing other changes made in the revised order, including the deletion of a reference that its representatives were allegedly concerned about some dealers using Birla's specialist paint devices.
Making such changes indicates the CCI took its decision with a "pre-meditated mind", Asian Paints' filing said.
Ahead of the CCI's decision to investigate, Reuters on June 6 first reported Birla's confidential antitrust complaint against Asian Paints. Asian Paints submitted that story to the CCI and also inquired about the case, the filing shows.
Asian Paints' court challenge will be heard on August 6.
(Reporting by Aditya Kalra, Arpan Chaturvedi and Aditi Shah
Editing by Mark Potter)
(([email protected];))
India's Reliance falls as key segments' results disappoint
Adds details on results, analyst comments, share milestone
July 21 (Reuters) - Shares of Reliance Industries RELI.NS fell about 2% on Monday after the conglomerate's energy and retail segments reported first-quarter results below analysts' expectations on Friday.
Reliance, one of the heaviest-weighted stocks in the benchmark Nifty 50 index .NSEI, was a top drag, pressuring the index and limiting upside. The index was slightly higher by 0.3% as of 10:15 a.m. IST.
On Friday, Reliance posted a 78% surge in first-quarter profit, helped by a jump in income from the sale of its stake in Asian Paints ASPN.NS.
However, earnings before interest, taxes, depreciation, and amortization (EBITDA) in its key oil-to-chemicals (O2C) and retail segments came in below several analysts' expectations.
The company said planned shutdowns at its Jamnagar refinery in the western state of Gujarat hurt its refining operations, while seasonal weakness in consumer electronics weighed on retail growth.
"Reliance's share price could see a near-term moderation post this result print," Macquarie analysts said in a note.
Reliance shares are up about 19% so far this year, compared with a 5.9% gain in the Nifty 50 index .NSEI.
Despite the mixed bag, at least 10 analysts raised their price targets on the stock after the results, with the median price target rising to 1,640 rupees from 1,565 rupees a month ago.
Analysts noted the expectations of a recovery in gross refinery margins would likely be a driver for O2C growth this year, and also expected strong growth in the retail and telecom unit Jio.
"Retail and Jio are likely to accelerate, and the new energy ecosystem is expected to fully operationalise in four to six quarters, with partnerships and a self-funded model in a few years," Emkay analysts said in a note.
Meanwhile, in an interaction with analysts on Friday, Reliance said that the company was "evaluating" the European Union's newer sanctions on Russia. Reliance is among the top buyers of cheaper Russian crude.
"We believe that we are pretty diversified," Srinivas Tuttagunta, chief operating officer of Refining & Marketing, Reliance Industries said.
(Reporting by Sethuraman NR; Editing by Janane Venkatraman)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Adds details on results, analyst comments, share milestone
July 21 (Reuters) - Shares of Reliance Industries RELI.NS fell about 2% on Monday after the conglomerate's energy and retail segments reported first-quarter results below analysts' expectations on Friday.
Reliance, one of the heaviest-weighted stocks in the benchmark Nifty 50 index .NSEI, was a top drag, pressuring the index and limiting upside. The index was slightly higher by 0.3% as of 10:15 a.m. IST.
On Friday, Reliance posted a 78% surge in first-quarter profit, helped by a jump in income from the sale of its stake in Asian Paints ASPN.NS.
However, earnings before interest, taxes, depreciation, and amortization (EBITDA) in its key oil-to-chemicals (O2C) and retail segments came in below several analysts' expectations.
The company said planned shutdowns at its Jamnagar refinery in the western state of Gujarat hurt its refining operations, while seasonal weakness in consumer electronics weighed on retail growth.
"Reliance's share price could see a near-term moderation post this result print," Macquarie analysts said in a note.
Reliance shares are up about 19% so far this year, compared with a 5.9% gain in the Nifty 50 index .NSEI.
Despite the mixed bag, at least 10 analysts raised their price targets on the stock after the results, with the median price target rising to 1,640 rupees from 1,565 rupees a month ago.
Analysts noted the expectations of a recovery in gross refinery margins would likely be a driver for O2C growth this year, and also expected strong growth in the retail and telecom unit Jio.
"Retail and Jio are likely to accelerate, and the new energy ecosystem is expected to fully operationalise in four to six quarters, with partnerships and a self-funded model in a few years," Emkay analysts said in a note.
Meanwhile, in an interaction with analysts on Friday, Reliance said that the company was "evaluating" the European Union's newer sanctions on Russia. Reliance is among the top buyers of cheaper Russian crude.
"We believe that we are pretty diversified," Srinivas Tuttagunta, chief operating officer of Refining & Marketing, Reliance Industries said.
(Reporting by Sethuraman NR; Editing by Janane Venkatraman)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Ambani's Reliance tops profit estimates on asset sale gains
Other income quadruples
Jio Platforms EBITDA up 23.9%
oil-to-chemicals segment EBITDA up 10.8%
Adds details of gains in paragraph 3, Jio Infocomm results in paragraph 9
By Chandini Monnappa and Sethuraman N R
July 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Industries RELI.NS reported a better-than-expected 78% surge in first-quarter profit on Friday, driven by strong growth across key businesses and gains from the sale of its stake in Asian Paints ASPN.NS.
The profit jump was underpinned by a recovery in Reliance's core oil-to-chemicals segment, which benefited from improved refining margins and petrochemical demand. Strong performances from its retail and digital services arms also bolstered earnings.
Additionally, a sharp rise in other income, led by the sale of its stake in Asian Paints, boosted profit. The conglomerate's other income nearly quadrupled to 151.19 billion rupees in the June quarter, with 89.24 billion rupees stemming from the investment sale.
Reliance, India's biggest company by market value, in June sold a stake in Asian Paints
Reliance Retail and Jio, which together account for roughly 45% of the company's revenue, had been the engine powering the conglomerate's earnings in the six months to March, while offsetting a slowdown in the oil-to-chemicals segment, its largest revenue contributor.
Reliance's consolidated profit jumped to 269.94 billion rupees ($3.14 billion) in the June quarter, up from 151.38 billion rupees a year earlier, smashing analysts' estimate of 198.59 billion rupees, according to LSEG data.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the oil-to-chemicals business rose 10.8% to 145.11 billion rupees.
EBITDA from its Jio Platforms rose 23.9% year-on-year, the strongest growth among its segments, while retail EBITDA increased 12.7%.
Jio Infocomm, its telecom unit, logged a 23.3% rise in net profit, while revenue rose 16.6%.
The company said it was on track to set up its planned "giga factories" in the next four-to-six quarters and that, once operational, the business would be self-sustaining, without requiring further investment from Reliance.
Reliance, which operates the world's largest refining complex in Jamnagar, Gujarat, announced a $10 billion investment in 2021 to build its green energy portfolio and achieve net-zero carbon emissions by 2035.
($1 = 86.0620 Indian rupees)
(Reporting by Sethuraman NR and Chandini Monnappa; Editing by Anil D'Silva and Pooja Desai)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Other income quadruples
Jio Platforms EBITDA up 23.9%
oil-to-chemicals segment EBITDA up 10.8%
Adds details of gains in paragraph 3, Jio Infocomm results in paragraph 9
By Chandini Monnappa and Sethuraman N R
July 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Industries RELI.NS reported a better-than-expected 78% surge in first-quarter profit on Friday, driven by strong growth across key businesses and gains from the sale of its stake in Asian Paints ASPN.NS.
The profit jump was underpinned by a recovery in Reliance's core oil-to-chemicals segment, which benefited from improved refining margins and petrochemical demand. Strong performances from its retail and digital services arms also bolstered earnings.
Additionally, a sharp rise in other income, led by the sale of its stake in Asian Paints, boosted profit. The conglomerate's other income nearly quadrupled to 151.19 billion rupees in the June quarter, with 89.24 billion rupees stemming from the investment sale.
Reliance, India's biggest company by market value, in June sold a stake in Asian Paints
Reliance Retail and Jio, which together account for roughly 45% of the company's revenue, had been the engine powering the conglomerate's earnings in the six months to March, while offsetting a slowdown in the oil-to-chemicals segment, its largest revenue contributor.
Reliance's consolidated profit jumped to 269.94 billion rupees ($3.14 billion) in the June quarter, up from 151.38 billion rupees a year earlier, smashing analysts' estimate of 198.59 billion rupees, according to LSEG data.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the oil-to-chemicals business rose 10.8% to 145.11 billion rupees.
EBITDA from its Jio Platforms rose 23.9% year-on-year, the strongest growth among its segments, while retail EBITDA increased 12.7%.
Jio Infocomm, its telecom unit, logged a 23.3% rise in net profit, while revenue rose 16.6%.
The company said it was on track to set up its planned "giga factories" in the next four-to-six quarters and that, once operational, the business would be self-sustaining, without requiring further investment from Reliance.
Reliance, which operates the world's largest refining complex in Jamnagar, Gujarat, announced a $10 billion investment in 2021 to build its green energy portfolio and achieve net-zero carbon emissions by 2035.
($1 = 86.0620 Indian rupees)
(Reporting by Sethuraman NR and Chandini Monnappa; Editing by Anil D'Silva and Pooja Desai)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Asian Paints, HUL, Varun Bev rise on Jefferies' contrary bet call
** India's Asian Paints ASPN.NS up 1.4%, Varun Beverages VARB.NS and Hindustan Unilever (HUL) HLL.NS rise 1.8% and 1.2% respectively
** These stocks are Jefferies' "contrarian" picks in India's consumer sector as it sees limited ability for these to lose ground further
** Jefferies says valuations attractive for Pepsi PEP.O-bottler VARB while weak summers, rising competition from Reliance's Campa Cola key risks
** Flags weak earnings trend for HLL, but says recent trend of prioritising growth over earnings, Unilever's ULVR.L focus on India should set stage for recovery
** Jefferies retains buy on HLL when atleast seven brokerages have downgraded the stock in the past two months
** ASPN has been grappling with intensifying competition from new entrant Birla Opus, reduced retail spending and switch to cheaper labels
** Jefferies says easy gains are captured by Birla Opus, expects gradual earnings recovery for ASPN in FY26, double upgrades stock to "buy"
** Avg ratings: VARB, HLL - "buy", ASPN - "sell" - data compiled by LSEG
** YTD VARB down 27%, HLL and ASPN up ~4% and ~11% respectively
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** India's Asian Paints ASPN.NS up 1.4%, Varun Beverages VARB.NS and Hindustan Unilever (HUL) HLL.NS rise 1.8% and 1.2% respectively
** These stocks are Jefferies' "contrarian" picks in India's consumer sector as it sees limited ability for these to lose ground further
** Jefferies says valuations attractive for Pepsi PEP.O-bottler VARB while weak summers, rising competition from Reliance's Campa Cola key risks
** Flags weak earnings trend for HLL, but says recent trend of prioritising growth over earnings, Unilever's ULVR.L focus on India should set stage for recovery
** Jefferies retains buy on HLL when atleast seven brokerages have downgraded the stock in the past two months
** ASPN has been grappling with intensifying competition from new entrant Birla Opus, reduced retail spending and switch to cheaper labels
** Jefferies says easy gains are captured by Birla Opus, expects gradual earnings recovery for ASPN in FY26, double upgrades stock to "buy"
** Avg ratings: VARB, HLL - "buy", ASPN - "sell" - data compiled by LSEG
** YTD VARB down 27%, HLL and ASPN up ~4% and ~11% respectively
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Asian Paints Says CCI Revises Order Against Co
July 3 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS LTD - CCI ISSUES ORDER TO INVESTIGATE ASIAN PAINTS
ASIAN PAINTS LTD - CCI REVISES ORDER AGAINST ASIAN PAINTS
ASIAN PAINTS LTD - TO REVIEW AND COOPERATE WITH CCI ORDER
Source text: ID:nBSE8JC7yX
Further company coverage: ASPN.NS
(([email protected];;))
July 3 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS LTD - CCI ISSUES ORDER TO INVESTIGATE ASIAN PAINTS
ASIAN PAINTS LTD - CCI REVISES ORDER AGAINST ASIAN PAINTS
ASIAN PAINTS LTD - TO REVIEW AND COOPERATE WITH CCI ORDER
Source text: ID:nBSE8JC7yX
Further company coverage: ASPN.NS
(([email protected];;))
India's Asian Paints slips premarket as antitrust watchdog orders probe
** Shares of India's Asian Paints ASPN.NS down 1.24% in pre-open trade
** Competition Commission of India on Tuesday found India's largest paintmaker in violation of competition laws and ordered a probe
** Asian Paints abused its dominant market position by offering dealers incentives such as foreign travel in exchange for exclusivity, coerced landlords and raw material suppliers to refrain from engaging with rival Birla Opus - CCI order
** Birla Opus is housed under Grasim Industries GRAS.NS, led by Indian billionaire Kumar Mangalam Birla
** GRAS up 0.8% in pre-open trade
** Reviewing CCI order, will take appropriate legal recourse - Asian Paints
** CLSA says it believes complaint is reflective of increased competitive activity and will increase scrutiny on the responses made by incumbents to new entrants
** If final order is in favour of Grasim, and Asian Paints is asked to mend its manner of operating, it could lower entry barriers for challengers - Investec
** CLSA maintains "underperform" on ASPN, while Investec has "sell"; stock on an avg rated "sell" - data compiled by LSEG
** Stock up 4%, per last close
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's Asian Paints ASPN.NS down 1.24% in pre-open trade
** Competition Commission of India on Tuesday found India's largest paintmaker in violation of competition laws and ordered a probe
** Asian Paints abused its dominant market position by offering dealers incentives such as foreign travel in exchange for exclusivity, coerced landlords and raw material suppliers to refrain from engaging with rival Birla Opus - CCI order
** Birla Opus is housed under Grasim Industries GRAS.NS, led by Indian billionaire Kumar Mangalam Birla
** GRAS up 0.8% in pre-open trade
** Reviewing CCI order, will take appropriate legal recourse - Asian Paints
** CLSA says it believes complaint is reflective of increased competitive activity and will increase scrutiny on the responses made by incumbents to new entrants
** If final order is in favour of Grasim, and Asian Paints is asked to mend its manner of operating, it could lower entry barriers for challengers - Investec
** CLSA maintains "underperform" on ASPN, while Investec has "sell"; stock on an avg rated "sell" - data compiled by LSEG
** Stock up 4%, per last close
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
India Antitrust Body Orders Investigation Into Asian Paints Following Complaint By Birla's Paints Unit
July 1 (Reuters) - Asian Paints Ltd ASPN.NS:
INDIA ANTITRUST BODY ORDERS INVESTIGATION INTO ASIAN PAINTS FOLLOWING COMPLAINT BY BIRLA'S PAINTS UNIT-ORDER
INDIA ANTITRUST BODY INITIAL REVIEW SHOWS ASIAN PAINTS HAS BREACHED COMPETITION LAWS-ORDERS
Source text: [ID:]
Further company coverage: ASPN.NS
(([email protected];;))
July 1 (Reuters) - Asian Paints Ltd ASPN.NS:
INDIA ANTITRUST BODY ORDERS INVESTIGATION INTO ASIAN PAINTS FOLLOWING COMPLAINT BY BIRLA'S PAINTS UNIT-ORDER
INDIA ANTITRUST BODY INITIAL REVIEW SHOWS ASIAN PAINTS HAS BREACHED COMPETITION LAWS-ORDERS
Source text: [ID:]
Further company coverage: ASPN.NS
(([email protected];;))
JSW strengthens India paints push with $1.6 billion Akzo Nobel unit deal
JSW Paints to become 4th largest in India by market share
Deal valued at $1.6 billion, including debt
Akzo Nobel India shares rise over 11%
Akzo Nobel to get 900 million euros from deal, launch buyback
Recasts, adds detail on industry, market share, analyst comments
By Hritam Mukherjee and Manvi Pant
BENGALURU, June 27 (Reuters) - JSW Paints will buy Dutch paint maker Akzo Nobel's AKZO.AS Indian arm for about $1.6 billion, in what will be the country's biggest deal yet in the sector as competition intensifies between established players and new entrants.
The deal comes as challenges for Indian paint makers mount, including volatile raw material costs and heightened competition, with billionaire Kumar Mangalam Birla's entry into the sector last year eating into Asian Paints' market share.
Dulux Paint-owner Akzo Nobel had announced a review of its South Asia operations last year to rein in costs and boost its core coatings business.
Shares of Akzo Nobel India jumped more than 11% after the deal was announced, and were trading 7.6% higher in Mumbai at around 0830 GMT.
India's paint and coatings market is expected to reach $16.37 billion in size by 2030, Mordor Intelligence estimates, from $10.46 billion in 2025, driven by a boom in infrastructure and real estate development.
The deal, which includes debt, will be the Indian paint sector's biggest deal on record, Dealogic data showed.
JSW Paints, launched in 2019 and part of the $23 billion JSW Group, will buy a 74.76% stake in Akzo Nobel India for $1.05 billion and launch an open offer for the roughly 25% held by public shareholders.
Parent Akzo Nobel, the fourth-largest paint maker in the world by market capitalisation behind PPG, Nippon Paint 4612.T and Sherwin-Williams SHW.N, will continue to retain its research and development centre and powder coatings business in India.
GROWING COMPETITION
Once completed, the deal will propel JSW Paints to fourth place by market share in a sector dominated by Asian Paints ASPN.NS, Berger Paints BRGR.NS and Kansai Nerolac KANE.NS, according to Geojit Financial Services analyst Antu Thomas.
Birla-owned Grasim launched Birla Opus in 2024, crowding the already-competitive market. Birla has since filed an antitrust complaint against Asian Paints for allegedly abusing its market position, Reuters has reported.
In 2022, the competition regulator closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no breach of competition laws.
"While this acquisition offers JSW Paints a significant scale-up opportunity, near-term integration challenges could provide an opportunity for incumbent players to strengthen their market position in the luxury segment," Amit Purohit, vice president at Elara Capital said.
Akzo Nobel is likely to rake in 900 million euros in net proceeds and plans to launch a 400 million euro share buyback program after the deal's closing, which is expected in the fourth quarter of 2025.
(Reporting by Hritam Mukherjee and Manvi Pant in Bengaluru; Additional reporting by Dimitri Rhodes; Editing by Mrigank Dhaniwala, Vijay Kishore, Aditya Kalra and Rachna Uppal)
(([email protected]; X: @MukherjeeHritam;))
JSW Paints to become 4th largest in India by market share
Deal valued at $1.6 billion, including debt
Akzo Nobel India shares rise over 11%
Akzo Nobel to get 900 million euros from deal, launch buyback
Recasts, adds detail on industry, market share, analyst comments
By Hritam Mukherjee and Manvi Pant
BENGALURU, June 27 (Reuters) - JSW Paints will buy Dutch paint maker Akzo Nobel's AKZO.AS Indian arm for about $1.6 billion, in what will be the country's biggest deal yet in the sector as competition intensifies between established players and new entrants.
The deal comes as challenges for Indian paint makers mount, including volatile raw material costs and heightened competition, with billionaire Kumar Mangalam Birla's entry into the sector last year eating into Asian Paints' market share.
Dulux Paint-owner Akzo Nobel had announced a review of its South Asia operations last year to rein in costs and boost its core coatings business.
Shares of Akzo Nobel India jumped more than 11% after the deal was announced, and were trading 7.6% higher in Mumbai at around 0830 GMT.
India's paint and coatings market is expected to reach $16.37 billion in size by 2030, Mordor Intelligence estimates, from $10.46 billion in 2025, driven by a boom in infrastructure and real estate development.
The deal, which includes debt, will be the Indian paint sector's biggest deal on record, Dealogic data showed.
JSW Paints, launched in 2019 and part of the $23 billion JSW Group, will buy a 74.76% stake in Akzo Nobel India for $1.05 billion and launch an open offer for the roughly 25% held by public shareholders.
Parent Akzo Nobel, the fourth-largest paint maker in the world by market capitalisation behind PPG, Nippon Paint 4612.T and Sherwin-Williams SHW.N, will continue to retain its research and development centre and powder coatings business in India.
GROWING COMPETITION
Once completed, the deal will propel JSW Paints to fourth place by market share in a sector dominated by Asian Paints ASPN.NS, Berger Paints BRGR.NS and Kansai Nerolac KANE.NS, according to Geojit Financial Services analyst Antu Thomas.
Birla-owned Grasim launched Birla Opus in 2024, crowding the already-competitive market. Birla has since filed an antitrust complaint against Asian Paints for allegedly abusing its market position, Reuters has reported.
In 2022, the competition regulator closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no breach of competition laws.
"While this acquisition offers JSW Paints a significant scale-up opportunity, near-term integration challenges could provide an opportunity for incumbent players to strengthen their market position in the luxury segment," Amit Purohit, vice president at Elara Capital said.
Akzo Nobel is likely to rake in 900 million euros in net proceeds and plans to launch a 400 million euro share buyback program after the deal's closing, which is expected in the fourth quarter of 2025.
(Reporting by Hritam Mukherjee and Manvi Pant in Bengaluru; Additional reporting by Dimitri Rhodes; Editing by Mrigank Dhaniwala, Vijay Kishore, Aditya Kalra and Rachna Uppal)
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Reliance Industries further sells stake in Asian Paints
Adds details, background from paragraph 2 onwards
June 16 (Reuters) - Billionare Mukesh Ambani-led Reliance Industries RELI.NS on Monday sold shares worth 18.76 billion rupees ($218.32 million) in Asian Paints ASPN.NS through a bulk deal, exchange data showed.
The conglomerate, through affiliate Siddhant Commercials, sold 8.5 million shares in Asian Paints to ICICI Prudential Life Mutual Fund, for 2,207 rupees apiece. The price reflects a 0.3% discount to Asian Paint's Friday's close.
Last week, Reliance sold shares worth $901 million in the paintmaker, trimming its stake to 0.9% from 4.9% as of March-end 2025.
Asian Paints, India's largest paintmaker, is currently facing a potential antitrust scrutiny, with its growth being challenged by new entrants like Aditya Birla Group's Birla Opus.
Last week, Reliance said it had a balance of 8.7 million shares in Asian Paints, while Monday's stake sale reduces the balance to roughly 200,000 shares.
($1 = 85.9290 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber)
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Adds details, background from paragraph 2 onwards
June 16 (Reuters) - Billionare Mukesh Ambani-led Reliance Industries RELI.NS on Monday sold shares worth 18.76 billion rupees ($218.32 million) in Asian Paints ASPN.NS through a bulk deal, exchange data showed.
The conglomerate, through affiliate Siddhant Commercials, sold 8.5 million shares in Asian Paints to ICICI Prudential Life Mutual Fund, for 2,207 rupees apiece. The price reflects a 0.3% discount to Asian Paint's Friday's close.
Last week, Reliance sold shares worth $901 million in the paintmaker, trimming its stake to 0.9% from 4.9% as of March-end 2025.
Asian Paints, India's largest paintmaker, is currently facing a potential antitrust scrutiny, with its growth being challenged by new entrants like Aditya Birla Group's Birla Opus.
Last week, Reliance said it had a balance of 8.7 million shares in Asian Paints, while Monday's stake sale reduces the balance to roughly 200,000 shares.
($1 = 85.9290 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber)
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India's Asian Paints set for longest weekly losing run in 2025
** Asian Paints ASPN.NS set for fourth straight weekly fall, longest losing run in 2025
** Set to slip 1.6% this week
** India's biggest paintmaker is grappling with rising competition, customer spending cutbacks
** Earlier in the week, Morgan Stanley said it expects co to lose 209 bps of market share over FY25-28
** Investec said dealer addition pace has "slowed down materially"; keeps "sell" call
** "For the first time in its annual report, Asian Paints acknowledged heightened competition ... is posing challenges" - Investec
** On Thursday, Mukesh Ambani's Reliance RELI.NS cut stake in co, selling shares at a discount
** ASPN the only major paintmaker stock which is rated "sell" on an avg - data compiled by LSEG
** YTD stock down 3% while benchmark Nifty .NSEI up ~5%
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Asian Paints ASPN.NS set for fourth straight weekly fall, longest losing run in 2025
** Set to slip 1.6% this week
** India's biggest paintmaker is grappling with rising competition, customer spending cutbacks
** Earlier in the week, Morgan Stanley said it expects co to lose 209 bps of market share over FY25-28
** Investec said dealer addition pace has "slowed down materially"; keeps "sell" call
** "For the first time in its annual report, Asian Paints acknowledged heightened competition ... is posing challenges" - Investec
** On Thursday, Mukesh Ambani's Reliance RELI.NS cut stake in co, selling shares at a discount
** ASPN the only major paintmaker stock which is rated "sell" on an avg - data compiled by LSEG
** YTD stock down 3% while benchmark Nifty .NSEI up ~5%
(Reporting by Hritam Mukherjee in Bengaluru)
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Reliance Industries trims stake in India's Asian Paints
Updates with more details, background
June 12 (Reuters) - Billionaire Mukesh Ambani-led Reliance Industries RELI.NS said on Thursday it has slashed its stake in Asian Paints ASPN.NS, selling shares worth 77.04 billion rupees ($901 million).
India’s largest paintmaker is currently facing potential antitrust scrutiny , while its growth is being challenged by aggressive new entrants like the Aditya Birla Group’s Birla Opus , as well as urban consumers cutting back on discretionary spending.
Reliance Industries said that it has sold the stake through affiliate Siddhant Commercials, which until March had a 4.9% stake in the paintmaker, exchange data showed .
Following the sale, Reliance Industries will retain approximately 8.7 million shares, which represents a 0.9% stake in the company.
The oil-to-telecom conglomerate sold 35 million shares in Asian Paints at a price of 2,201 rupees per share, a discount to the stock's Wednesday close of 2,208.8 rupees.
On Thursday, Asian Paints ended 0.48% up, but has underperformed the benchmark Nifty 50 .NSEI both this year and last year.
Last month, the Economic Times reported Reliance was looking to sell all of its 4.9% stake and exit its 17-year-old investment.
The identities of the buyers were not immediately clear and will only be ascertained later in the day when exchanges update details of the session's trade.
(Reporting by Hritam Mukherjee and Nishit Navin; Editing by Harikrishnan Nair and Tasim Zahid)
(([email protected];))
Updates with more details, background
June 12 (Reuters) - Billionaire Mukesh Ambani-led Reliance Industries RELI.NS said on Thursday it has slashed its stake in Asian Paints ASPN.NS, selling shares worth 77.04 billion rupees ($901 million).
India’s largest paintmaker is currently facing potential antitrust scrutiny , while its growth is being challenged by aggressive new entrants like the Aditya Birla Group’s Birla Opus , as well as urban consumers cutting back on discretionary spending.
Reliance Industries said that it has sold the stake through affiliate Siddhant Commercials, which until March had a 4.9% stake in the paintmaker, exchange data showed .
Following the sale, Reliance Industries will retain approximately 8.7 million shares, which represents a 0.9% stake in the company.
The oil-to-telecom conglomerate sold 35 million shares in Asian Paints at a price of 2,201 rupees per share, a discount to the stock's Wednesday close of 2,208.8 rupees.
On Thursday, Asian Paints ended 0.48% up, but has underperformed the benchmark Nifty 50 .NSEI both this year and last year.
Last month, the Economic Times reported Reliance was looking to sell all of its 4.9% stake and exit its 17-year-old investment.
The identities of the buyers were not immediately clear and will only be ascertained later in the day when exchanges update details of the session's trade.
(Reporting by Hritam Mukherjee and Nishit Navin; Editing by Harikrishnan Nair and Tasim Zahid)
(([email protected];))
Birla's paints unit files antitrust case against India's Asian Paints, sources say
India's thriving paints sector seeing increased competition
Two rivals locked in new antitrust case, sources say
Birla antitrust challenge alleges abuse of position by rival
Asian Paints asks watchdog to hold discussion, letter shows
By Aditya Kalra
NEW DELHI, June 6 (Reuters) - Aditya Birla Group's Indian paints venture has filed an antitrust complaint against market leader Asian Paints for allegedly abusing its market position, three sources said, a case that could lead to a stand off between the two industry rivals.
Asian Paints is India's biggest player with a 52% market share, but it has lost some of its dominance after Birla Opus launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.
The Competition Commission of India (CCI) has in recent weeks been reviewing a confidential complaint filed by Birla Opus alleging abuse of its position by Asian Paints, said the two sources, who declined to be named as the discussions are private.
The CCI is yet to decide if the complaint holds merit and needs a broader probe by its investigations unit, or should be dismissed.
One of the sources familiar with the matter said the allegations from Birla say Asian Paints ASPN.NS had asked its retail dealers to not stock the rival's products and had warned of restricting their credit facilities if they do so.
Birla Opus, the paints arm of the Aditya Birla Group company Grasim GRAS.NS, did not respond to Reuters queries. The group is led by billionaire Kumar Mangalam Birla, India's seventh richest person ranked by Forbes.
Asian Paints and the CCI did not respond to Reuters queries.
Reuters is first to report the antitrust case, details of which - in line with watchdog's policy - are not made public.
The first source added that Asian Paints also allegedly told its dealers it will curtail its supplies to them if they put up hoardings of Birla paint products or place them at prominent places.
Asian Paints has not been told about the case, according to a source with direct knowledge. But it had received some media queries and has told the CCI in a confidential letter - seen by Reuters - that the company must be allowed fair comment before any decision is taken.
"The rapid and substantial growth of Birla Opus demonstrated the absence of any significant barriers to entry or anti-competitive conduct by existing players," Asian Paints letter to the CCI stated.
Birla has expanded its paints business in the $9.5 billion sector, starting last year with an investment of $1.2 billion, with five plants operational now. Asian Paints ASPN.NS clocked revenues of 294 billion Indian rupees ($3.43 billion) in 2024-25, and has 26 factories globally.
In 2022, the CCI closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no contravention of competition laws.
(Reporting by Aditya Kalra; editing by David Evans)
((Email: [email protected]; X: @adityakalra;))
India's thriving paints sector seeing increased competition
Two rivals locked in new antitrust case, sources say
Birla antitrust challenge alleges abuse of position by rival
Asian Paints asks watchdog to hold discussion, letter shows
By Aditya Kalra
NEW DELHI, June 6 (Reuters) - Aditya Birla Group's Indian paints venture has filed an antitrust complaint against market leader Asian Paints for allegedly abusing its market position, three sources said, a case that could lead to a stand off between the two industry rivals.
Asian Paints is India's biggest player with a 52% market share, but it has lost some of its dominance after Birla Opus launched in February 2024 and grew rapidly to garner a near 7% market share by March this year, Elara Capital data shows.
The Competition Commission of India (CCI) has in recent weeks been reviewing a confidential complaint filed by Birla Opus alleging abuse of its position by Asian Paints, said the two sources, who declined to be named as the discussions are private.
The CCI is yet to decide if the complaint holds merit and needs a broader probe by its investigations unit, or should be dismissed.
One of the sources familiar with the matter said the allegations from Birla say Asian Paints ASPN.NS had asked its retail dealers to not stock the rival's products and had warned of restricting their credit facilities if they do so.
Birla Opus, the paints arm of the Aditya Birla Group company Grasim GRAS.NS, did not respond to Reuters queries. The group is led by billionaire Kumar Mangalam Birla, India's seventh richest person ranked by Forbes.
Asian Paints and the CCI did not respond to Reuters queries.
Reuters is first to report the antitrust case, details of which - in line with watchdog's policy - are not made public.
The first source added that Asian Paints also allegedly told its dealers it will curtail its supplies to them if they put up hoardings of Birla paint products or place them at prominent places.
Asian Paints has not been told about the case, according to a source with direct knowledge. But it had received some media queries and has told the CCI in a confidential letter - seen by Reuters - that the company must be allowed fair comment before any decision is taken.
"The rapid and substantial growth of Birla Opus demonstrated the absence of any significant barriers to entry or anti-competitive conduct by existing players," Asian Paints letter to the CCI stated.
Birla has expanded its paints business in the $9.5 billion sector, starting last year with an investment of $1.2 billion, with five plants operational now. Asian Paints ASPN.NS clocked revenues of 294 billion Indian rupees ($3.43 billion) in 2024-25, and has 26 factories globally.
In 2022, the CCI closed a case filed by JSW Paints against Asian Paints for abusing its market position, saying it found no contravention of competition laws.
(Reporting by Aditya Kalra; editing by David Evans)
((Email: [email protected]; X: @adityakalra;))
India's Asian Paints set for worst week in nearly 5 months
** Shares of Asian Paints ASPN.NS down 0.5% at 2292 rupees
** For the week, ASNP is down 4.5%, set for its worst weekly fall since mid-December, if losses hold
** ASPN said on Thursday demand conditions were at their worst in decades, unlikely to improve in near term
** Co missed estimates for fourth-quarter profit and reported a drop in sales
** Management indicated double-digit volume growth for FY26 looks highly unlikely, we see challenges of muted demand compounded by entry of new players - Investec
** ASPN up 1% in 2025 vs a 1.5% rise in Nifty 50 .NSEI
(Reporitng by Nishit Navin and Hritam Mukherjee)
(([email protected];))
** Shares of Asian Paints ASPN.NS down 0.5% at 2292 rupees
** For the week, ASNP is down 4.5%, set for its worst weekly fall since mid-December, if losses hold
** ASPN said on Thursday demand conditions were at their worst in decades, unlikely to improve in near term
** Co missed estimates for fourth-quarter profit and reported a drop in sales
** Management indicated double-digit volume growth for FY26 looks highly unlikely, we see challenges of muted demand compounded by entry of new players - Investec
** ASPN up 1% in 2025 vs a 1.5% rise in Nifty 50 .NSEI
(Reporitng by Nishit Navin and Hritam Mukherjee)
(([email protected];))
India's Asian Paints drops on quarterly profit miss
** Shares of Asian Paints ASPN.NS fall 1.3% to 2303.8 rupees
** Paint maker reports Q4 net profit of 6.92 billion rupees ($80.8 million), well below analysts' average estimate of 10.84 billion rupees, as per data compiled by LSEG
** Decorative business reported revenue decline of 5.2%, hurt by tepid demand
** Stock was up 0.3% ahead of the results announcement
** Vols pick up post announcement, currently at nearly 2x their 30-day avg
** Stock up 1% in 2025 vs 2.5% rise in Nifty 50 .NSEI
($1 = 85.6350 Indian rupees)
(Reporitng by Nishit Navin)
(([email protected];))
** Shares of Asian Paints ASPN.NS fall 1.3% to 2303.8 rupees
** Paint maker reports Q4 net profit of 6.92 billion rupees ($80.8 million), well below analysts' average estimate of 10.84 billion rupees, as per data compiled by LSEG
** Decorative business reported revenue decline of 5.2%, hurt by tepid demand
** Stock was up 0.3% ahead of the results announcement
** Vols pick up post announcement, currently at nearly 2x their 30-day avg
** Stock up 1% in 2025 vs 2.5% rise in Nifty 50 .NSEI
($1 = 85.6350 Indian rupees)
(Reporitng by Nishit Navin)
(([email protected];))
Asian Paints Says Setting Up Of Manufacturing Facility For VAM And VAE
March 27 (Reuters) - Asian Paints Ltd ASPN.NS:
SETTING UP OF MANUFACTURING FACILITY FOR VAM AND VAE
INITIAL PROJECT COST ESTIMATED AT 25.60 BILLION RUPEES
BOARD APPROVES ADDITIONAL CAPEX OF 6.90 BILLION RUPEES
Source text: [ID:]
Further company coverage: ASPN.NS
(([email protected];))
March 27 (Reuters) - Asian Paints Ltd ASPN.NS:
SETTING UP OF MANUFACTURING FACILITY FOR VAM AND VAE
INITIAL PROJECT COST ESTIMATED AT 25.60 BILLION RUPEES
BOARD APPROVES ADDITIONAL CAPEX OF 6.90 BILLION RUPEES
Source text: [ID:]
Further company coverage: ASPN.NS
(([email protected];))
Asian Paints Gets Total Tax Demand Of 41.2 Million Rupees
Feb 28 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS LTD - GETS TOTAL TAX DEMAND OF 41.2 MILLION RUPEES
Source text: ID:nNSELW0Cb
Further company coverage: ASPN.NS
(([email protected];))
Feb 28 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS LTD - GETS TOTAL TAX DEMAND OF 41.2 MILLION RUPEES
Source text: ID:nNSELW0Cb
Further company coverage: ASPN.NS
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India's Asian Paints to exit Indonesia in nearly $6 million deal
Feb 14 (Reuters) - India's Asian Paints ASPN.NS said on Friday it will sell its Indonesian business to Australia's Omega Property Investments for S$7.5 million ($5.6 million), citing growth challenges nine years after entering the market.
The Indian paint maker said early last year that pursuing growth in Indonesia was "tough" due to profitability and cost control being under pressure.
"Despite the varied strategic steps undertaken over the last 9 years to expand its operations in Indonesia... operations in Indonesia remained sub-scale and immaterial to the overall international operations," Asian Paints said.
The paint maker, with operations in 15 countries, gets 9% of its revenue from its international business. It garners a majority of its revenue from the Indian market, where it is the market leader.
The Indonesia business contributes a mere 0.24% to the company's consolidated topline.
Asian Paints said it will recognise a loss of $10.4 million from selling its Indonesian assets, which were worth a net $19 million as of fiscal year 2024, according to its latest annual report.
The company's shares fell 1% after the news, but trimmed losses to close 0.2% lower.
($1 = 1.3433 Singapore dollars)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)
(([email protected]; X: @MukherjeeHritam;))
Feb 14 (Reuters) - India's Asian Paints ASPN.NS said on Friday it will sell its Indonesian business to Australia's Omega Property Investments for S$7.5 million ($5.6 million), citing growth challenges nine years after entering the market.
The Indian paint maker said early last year that pursuing growth in Indonesia was "tough" due to profitability and cost control being under pressure.
"Despite the varied strategic steps undertaken over the last 9 years to expand its operations in Indonesia... operations in Indonesia remained sub-scale and immaterial to the overall international operations," Asian Paints said.
The paint maker, with operations in 15 countries, gets 9% of its revenue from its international business. It garners a majority of its revenue from the Indian market, where it is the market leader.
The Indonesia business contributes a mere 0.24% to the company's consolidated topline.
Asian Paints said it will recognise a loss of $10.4 million from selling its Indonesian assets, which were worth a net $19 million as of fiscal year 2024, according to its latest annual report.
The company's shares fell 1% after the news, but trimmed losses to close 0.2% lower.
($1 = 1.3433 Singapore dollars)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)
(([email protected]; X: @MukherjeeHritam;))
Paintmaker Akzo Nobel India expects demand rebound in second half of 2025
Rewrites with management commentary from post-earnings call
By Hritam Mukherjee
Feb 7 (Reuters) - Akzo Nobel India AKZO.NS said on Friday it expects the demand for paints to recover from the second half of the year after the effects of the federal budget's consumption-boosting proposals filter through essential items before influencing discretionary purchases.
Last week, the government dished out its biggest income tax relief in at least a decade, hoping that higher disposable incomes would boost demand and consumption, thereby lifting the economy.
However, the effects of that on the demand for discretionary items such as paints will only start from the second half of this year, Akzo Nobel Chairman and Managing Director Rajiv Rajgopal said in a post-earnings call.
Earlier in the day, the 'Dulux' paintmaker reported a 5% fall in consolidated third-quarter net profit to 1.09 billion rupees ($12.47 million) as its 2% increase in its revenue was outweighed by a 2.3% rise in expenses.
Paintmakers saw weak demand from retail consumers who are choosing cheaper brands in the face of high inflation, analysts say and demand forecasts by paint companies have been mixed so far.
While market leader Asian Paints ASPN.NS missed earnings estimates and issued a grim demand outlook, Kansai Nerolac KANE.NS said it also expects the lower income tax rates to increase demand.
Akzo Nobel India's larger peers, Grasim Industries GRAS.NS and Berger Paints BRGR.NS, are due to report their results next week.
AKZO INDIA Q3 https://tmsnrt.rs/4hLB6zg
(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)
(([email protected]; Twitter: @MukherjeeHritam;))
Rewrites with management commentary from post-earnings call
By Hritam Mukherjee
Feb 7 (Reuters) - Akzo Nobel India AKZO.NS said on Friday it expects the demand for paints to recover from the second half of the year after the effects of the federal budget's consumption-boosting proposals filter through essential items before influencing discretionary purchases.
Last week, the government dished out its biggest income tax relief in at least a decade, hoping that higher disposable incomes would boost demand and consumption, thereby lifting the economy.
However, the effects of that on the demand for discretionary items such as paints will only start from the second half of this year, Akzo Nobel Chairman and Managing Director Rajiv Rajgopal said in a post-earnings call.
Earlier in the day, the 'Dulux' paintmaker reported a 5% fall in consolidated third-quarter net profit to 1.09 billion rupees ($12.47 million) as its 2% increase in its revenue was outweighed by a 2.3% rise in expenses.
Paintmakers saw weak demand from retail consumers who are choosing cheaper brands in the face of high inflation, analysts say and demand forecasts by paint companies have been mixed so far.
While market leader Asian Paints ASPN.NS missed earnings estimates and issued a grim demand outlook, Kansai Nerolac KANE.NS said it also expects the lower income tax rates to increase demand.
Akzo Nobel India's larger peers, Grasim Industries GRAS.NS and Berger Paints BRGR.NS, are due to report their results next week.
AKZO INDIA Q3 https://tmsnrt.rs/4hLB6zg
(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)
(([email protected]; Twitter: @MukherjeeHritam;))
Mahindra Logistics Partners With Asian Paints For Transportation Solutions
Feb 6 (Reuters) - Mahindra Logistics Ltd MALO.NS:
MAHINDRA LOGISTICS LTD - PARTNERS WITH ASIAN PAINTS FOR TRANSPORTATION SOLUTIONS
Source text: ID:nNSE1GJ75b
Further company coverage: MALO.NS
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Feb 6 (Reuters) - Mahindra Logistics Ltd MALO.NS:
MAHINDRA LOGISTICS LTD - PARTNERS WITH ASIAN PAINTS FOR TRANSPORTATION SOLUTIONS
Source text: ID:nNSE1GJ75b
Further company coverage: MALO.NS
(([email protected];;))
India's Asian Paints slides on flagging muted demand outlook in short-term
** Asian Paints ASPN.NS falls ~4% to 2,262 rupees; top loser on benchmark Nifty 50 .NSEI, which is up 0.13%
** Management flags muted urban demand in short-term; says will likely recover post Q1 FY26
** At least 16 brokerages cut PT post results, nine slash ratings - LSEG
** Investec says it continues to fear that new entrants can impair earnings for players like ASPN, with the impact likely exacerbating if demand remains challenged
** CLSA retains "cautious stance", citing heightened competition that will keep growth and margins under pressure
** Stock set to log biggest intraday pct decline since Nov. 11, 2024, post Q2 results on Nov. 9
** ASPN last down ~1%, swings to YTD loss
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Asian Paints ASPN.NS falls ~4% to 2,262 rupees; top loser on benchmark Nifty 50 .NSEI, which is up 0.13%
** Management flags muted urban demand in short-term; says will likely recover post Q1 FY26
** At least 16 brokerages cut PT post results, nine slash ratings - LSEG
** Investec says it continues to fear that new entrants can impair earnings for players like ASPN, with the impact likely exacerbating if demand remains challenged
** CLSA retains "cautious stance", citing heightened competition that will keep growth and margins under pressure
** Stock set to log biggest intraday pct decline since Nov. 11, 2024, post Q2 results on Nov. 9
** ASPN last down ~1%, swings to YTD loss
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
India's Asian Paints misses Q3 profit view as competition, dull demand weighs
Feb 4 (Reuters) - India's Asian Paints ASPN.NS missed third-quarter profit estimates on Tuesday, pressured by intense sector competition and a continued reduction in discretionary spending by inflation-strained consumers.
The paintmaker's consolidated net profit came in at 11.11 billion rupees ($127.6 million) during October-December, below analysts' average estimate of 11.31 billion rupees, as per data compiled by LSEG.
($1 = 87.0550 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected]; X: @MukherjeeHritam;))
Feb 4 (Reuters) - India's Asian Paints ASPN.NS missed third-quarter profit estimates on Tuesday, pressured by intense sector competition and a continued reduction in discretionary spending by inflation-strained consumers.
The paintmaker's consolidated net profit came in at 11.11 billion rupees ($127.6 million) during October-December, below analysts' average estimate of 11.31 billion rupees, as per data compiled by LSEG.
($1 = 87.0550 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected]; X: @MukherjeeHritam;))
India's Asian Paints set for worst year ever
** Asian Paints ASPN.NS sheds ~33% in 2024; set for worst-ever year
** Top paint maker's stock trades flat at 2,290.5 rupees; second-worst performing stock on Nifty 50 .NSEI index, which is up 8.6%
** Stock slid sharply as weak demand for paints led to missed Q1 and Q2 earnings, while intensifying competition forced price cuts
** Analysts downgraded stock, with 15 rating it "sell" or lower, the highest number of such ratings in at least two years - LSEG
** ASPN also worst-performing Indian paint stock this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Asian Paints ASPN.NS sheds ~33% in 2024; set for worst-ever year
** Top paint maker's stock trades flat at 2,290.5 rupees; second-worst performing stock on Nifty 50 .NSEI index, which is up 8.6%
** Stock slid sharply as weak demand for paints led to missed Q1 and Q2 earnings, while intensifying competition forced price cuts
** Analysts downgraded stock, with 15 rating it "sell" or lower, the highest number of such ratings in at least two years - LSEG
** ASPN also worst-performing Indian paint stock this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
LIC Increases Its Stake In Asian Paints From 5.001% To 7.010%
Dec 10 (Reuters) - Life Insurance Corporation of India LIFI.NS:
INCREASED ITS STAKE IN ASIAN PAINTS FROM 5.001% TO 7.010%
STAKE BUY AT AN AVERAGE PRICE OF 2891.25 RUPEESPER SHARE
Source text: ID:nNSE1X8qCt
Further company coverage: LIFI.NS
(([email protected];;))
Dec 10 (Reuters) - Life Insurance Corporation of India LIFI.NS:
INCREASED ITS STAKE IN ASIAN PAINTS FROM 5.001% TO 7.010%
STAKE BUY AT AN AVERAGE PRICE OF 2891.25 RUPEESPER SHARE
Source text: ID:nNSE1X8qCt
Further company coverage: LIFI.NS
(([email protected];;))
Asian Paints Says A P International Doha Trading W.L.L. Voluntarily Liquidated
Nov 26 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS LTD - A P INTERNATIONAL DOHA TRADING W.L.L. VOLUNTARILY LIQUIDATED
Source text: ID:nBSE72Cw66
Further company coverage: ASPN.NS
(([email protected];))
Nov 26 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS LTD - A P INTERNATIONAL DOHA TRADING W.L.L. VOLUNTARILY LIQUIDATED
Source text: ID:nBSE72Cw66
Further company coverage: ASPN.NS
(([email protected];))
India's Asian Paints set for worst week in 2-1/2 years
** Shares of Asian Paints ASPN.NS slid ~11% for the week, set for their worst weekly performance since Feb. 2022
** Paint maker's stock drops in 3 out of 4 sessions this week, set for seventh straight week of decline; Indian markets will be closed on Friday for a local holiday
** ASPN slumped to an over four-year low on Monday after its Q2 profit missed estimates, as price cuts and floods in some parts of India dragged down sales volumes
** At least 26 analysts slashed PT on ASPN after results; median PT at 2,550 rupees vs 2,819 rupees last month- LSEG data
** Avg rating on ASPN, rivals Berger Paints BRGR.NS and Kansai Nerolac KANE.NS at "hold" - LSEG data
** All three paint makers log YTD losses, with ASPN's falling 27%, KANE dropping 21% and BRGR declining 19%
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Asian Paints ASPN.NS slid ~11% for the week, set for their worst weekly performance since Feb. 2022
** Paint maker's stock drops in 3 out of 4 sessions this week, set for seventh straight week of decline; Indian markets will be closed on Friday for a local holiday
** ASPN slumped to an over four-year low on Monday after its Q2 profit missed estimates, as price cuts and floods in some parts of India dragged down sales volumes
** At least 26 analysts slashed PT on ASPN after results; median PT at 2,550 rupees vs 2,819 rupees last month- LSEG data
** Avg rating on ASPN, rivals Berger Paints BRGR.NS and Kansai Nerolac KANE.NS at "hold" - LSEG data
** All three paint makers log YTD losses, with ASPN's falling 27%, KANE dropping 21% and BRGR declining 19%
(Reporting by Kashish Tandon in Bengaluru)
India's Asian Paints eyes worst day in more than 4-1/2 yrs on Q2 profit drop
** Shares of Asian Paints ASPN.NS fall as much as 9.3% to 2,511.65 rupees, mark sharpest intraday pct loss since March 23, 2020
** Stock marks lowest level since May 3, 2021
** ASPN on Saturday reported 42.4% Y/Y fall in Q2 consol net profit to 6.95 bln rupees ($82.4 mln); below analysts' average estimate of 10.19 bln rupees, as per data compiled by LSEG
** Rev from ops fell 5.3% to 80.28 bln rupees, below analysts' average estimate of 85.06 bln rupees
** Avg rating of 34 analysts equivalent of "hold", median PT is 2,809.50 rupees - LSEG data
** ASPN top pct loser on Nifty 50 index .NSEI, which is down 0.2%
** ASPN down 26.2% YTD vs 11% rise in Nifty 50 index
($1 = 84.3750 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of Asian Paints ASPN.NS fall as much as 9.3% to 2,511.65 rupees, mark sharpest intraday pct loss since March 23, 2020
** Stock marks lowest level since May 3, 2021
** ASPN on Saturday reported 42.4% Y/Y fall in Q2 consol net profit to 6.95 bln rupees ($82.4 mln); below analysts' average estimate of 10.19 bln rupees, as per data compiled by LSEG
** Rev from ops fell 5.3% to 80.28 bln rupees, below analysts' average estimate of 85.06 bln rupees
** Avg rating of 34 analysts equivalent of "hold", median PT is 2,809.50 rupees - LSEG data
** ASPN top pct loser on Nifty 50 index .NSEI, which is down 0.2%
** ASPN down 26.2% YTD vs 11% rise in Nifty 50 index
($1 = 84.3750 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
Asian Paints Appoints Varun Berry As Independent Director
Sept 10 (Reuters) - Asian Paints Ltd ASPN.NS:
APPOINTMENT OF VARUN BERRY AS AN INDEPENDENT DIRECTOR
Source text for Eikon: ID:nBSE73BWjf
Further company coverage: ASPN.NS
(([email protected];))
Sept 10 (Reuters) - Asian Paints Ltd ASPN.NS:
APPOINTMENT OF VARUN BERRY AS AN INDEPENDENT DIRECTOR
Source text for Eikon: ID:nBSE73BWjf
Further company coverage: ASPN.NS
(([email protected];))
Asian Paints Gets Total Tax Demand Of 229.8 Mln Rupees
Aug 28 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS - GETS TOTAL TAX DEMAND OF 229.8 MILLION RUPEES
Source text for Eikon: ID:nNSElRj25
Further company coverage: ASPN.NS
(([email protected];))
Aug 28 (Reuters) - Asian Paints Ltd ASPN.NS:
ASIAN PAINTS - GETS TOTAL TAX DEMAND OF 229.8 MILLION RUPEES
Source text for Eikon: ID:nNSElRj25
Further company coverage: ASPN.NS
(([email protected];))
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What does Asian Paints do?
Asian Paints is a leading manufacturer of decorative and industrial paints, wall coverings, waterproofing, adhesives, and services. Additionally, the company offers an array of home improvement and decor products including bath and kitchen products, lightings, furnishings, and furniture.
Who are the competitors of Asian Paints?
Asian Paints major competitors are Berger Paints India, Kansai Nerolac Paint, Akzo Nobel India, Indigo Paints, SIRCA Paints India, Shalimar Paints. Market Cap of Asian Paints is ₹2,31,661 Crs. While the median market cap of its peers are ₹11,559 Crs.
Is Asian Paints financially stable compared to its competitors?
Asian Paints seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Asian Paints pay decent dividends?
The company seems to pay a good stable dividend. Asian Paints latest dividend payout ratio is 64.87% and 3yr average dividend payout ratio is 61.09%
How has Asian Paints allocated its funds?
Companies resources are majorly tied in miscellaneous assets
How strong is Asian Paints balance sheet?
Balance sheet of Asian Paints is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Asian Paints improving?
No, profit is decreasing. The profit of Asian Paints is ₹3,500 Crs for TTM, ₹3,667 Crs for Mar 2025 and ₹5,460 Crs for Mar 2024.
Is the debt of Asian Paints increasing or decreasing?
Yes, The net debt of Asian Paints is increasing. Latest net debt of Asian Paints is -₹648.49 Crs as of Mar-25. This is greater than Mar-24 when it was -₹967.58 Crs.
Is Asian Paints stock expensive?
Asian Paints is not expensive. Latest PE of Asian Paints is 64.4, while 3 year average PE is 73.2. Also latest EV/EBITDA of Asian Paints is 39.03 while 3yr average is 47.8.
Has the share price of Asian Paints grown faster than its competition?
Asian Paints has given better returns compared to its competitors. Asian Paints has grown at ~-5.13% over the last 4yrs while peers have grown at a median rate of -7.0%
Is the promoter bullish about Asian Paints?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Asian Paints is 52.63% and last quarter promoter holding is 52.63%.
Are mutual funds buying/selling Asian Paints?
The mutual fund holding of Asian Paints is increasing. The current mutual fund holding in Asian Paints is 10.84% while previous quarter holding is 5.67%.