ASIANPAINT

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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** 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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June 12 (Reuters) - Reliance Industries Ltd RELI.NS:

• RELIANCE INDUSTRIES LTD - SELLS 35 MILLION ASIAN PAINTS SHARES AT 2,201 RUPEES PER SHARE

• RELIANCE INDUSTRIES - SHARES OF ASIAN PAINTS HELD BY CO THROUGH SIDDHANT COMMERCIALS HAVE BEEN SOLD

• RELIANCE INDUSTRIES LTD - RETAINS 8.7 MILLION ASIAN PAINTS SHARES

Source text: ID:nBSE1V12xN

Further company coverage: RELI.NS

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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)

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** 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)

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** 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)

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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

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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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Feb 14 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - TO SELL INDONESIA BUSINESS FOR SGD 7.5 MN

• ASIAN PAINTS LTD - TO CEASE OPERATIONS IN INDONESIA

• ASIAN PAINTS LTD - EXPECTED LOSS OF 900 MILLION RUPEES FROM INDONESIA DIVESTMENT

Source text: ID:nBSE8y7pYs

Further company coverage: ASPN.NS

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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.

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

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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

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** 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)

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** Shares of Asian Paints ASPN.NS fall 0.7% ahead of Q3 results due later in the day; benchmark Nifty 50 .NSEI up 0.9%

** Analysts, on avg, expect the paintmaker to report a ~21% y/y fall in Q3 consol profit to 11.42 bln rupees ($131.3 mln), per data compiled by LSEG

** At least three brokerages said demand slowdown in the industry persisted in Q3, after weak growth in H1, due to increased competition, lower volumes and pricing pressures

** ASPN first to report Q3 results among major Indian paint companies

** Analysts on avg rate ASPN "hold", same as peers Berger Paints BRGR.NS and Kansai Nerolac KANE.NS -LSEG data

** YTD ASPN, BRGR up 0.5% and ~8%, while KANE down ~7.5%

** ASPN's fwd 12-month PE is 45x, 11th highest on Nifty 50 and just higher than BRGR's 44x; KANE's PE is 27x -LSEG

($1 = 86.9720 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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** 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)

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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

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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

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** 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)

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** 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)

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Sept 10 (Reuters) - Asian Paints Ltd ASPN.NS:

• APPOINTMENT OF VARUN BERRY AS AN INDEPENDENT DIRECTOR

Source text for Eikon: ID:nBSE73BWjf

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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

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BENGALURU, July 18 (Reuters) - Shares of Asian Paints ASPN.NS fell as much as 4.5% in early trade on Thursday, a day after India's no.1 paint company reported its steepest quarterly profit slide in three years, hurt by weak demand and price cuts.

Shares of Asian Paints were the second worst percentage loser on the benchmark Nifty 50 .NSEI, which was down 0.26% on the day. .BO

Out of 34 analysts covering Asian Paints, at least six downgraded its shares after the results, while at least nine cut price targets on the stock, LSEG IBES data showed.

The paint maker's margins are expected to remain under pressure due to increased marketing spends to stave off rising competition in the sector, analysts at Antique and Systematix said.

Asian Paints reported a profit below analysts estimates for the three months ending June 30, and revenue also slipped on "tough" demand conditions amid heat waves and India's national elections.

So far this year, the stock has fallen 14.2%, lesser than smaller rivals Kansai Nerolac's KANE.NS 16.3% slide and Berger Paints India's BRGR.NS 14.7% drop.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

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July 17 (Reuters) - Asian Paints Ltd ASPN.NS:

• CONFIDENT OF GREEN SHOOTS SEEN IN RURAL MARKETS IN FY25

• SEEING SOME SIGNS OF INFLATION IN CERTAIN RAW MATERIALS

• KEY GEOGRAPHIES OF NEPAL, BANGLADESH & EGYPT SEEN TO REMAIN CHALLENGED IN NEAR TERM

• SUPPLY CHAIN CHALLENGES TO BE MONITORED WITH CONTINUED RED SEA SHIPPING CRISIS

Source text for Eikon: ID:nNSEmHSwG

Further company coverage: ASPN.NS

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** Shares of Asian Paints ASPN.NS up 2.2% on track for its best day in a month

** Stock is top pct gainer on Nifty 50 .NSEI which is down 0.9%

** Co hiked prices of its products across its portfolio by 0.7%-1% to offset rising input costs, CNBC-TV18 reports

** ASPN did not immediately respond to Reuters' request for comment

** Peers Kansai Nerolac KANE.NS, Indigo Paints INDG.NS, Berger Paints BRGR.NS up between 1.2% and 3.9%; Akzo Nobel India AKZO.NS down 0.1%

** Analysts on avg have a 'hold' rating on Asian Paints, Nerolac, Akzo Nobel and Indigo Paints INDG.NS; Berger rated 'sell' -LSEG data

** Nerolac's 17% slide YTD is most, followed by Berger (14%), Asian Paints (13%) and Indigo Paints (3.7%)

** AKZO only paint-maker to post YTD growth, up ~11%

(Reporting by Varun Vyas in Bengaluru)

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July 1 (Reuters) - Asian Paints Ltd ASPN.NS:

• INSTALLED CAPACITY OF THE MYSURU PLANT HAS BEEN INCREASED TO 6,00,000 KL PER ANNUM

• 13.05 BLN RUPEES HAS BEEN INVESTED BY COMPANY TOWARDS INCREASE IN INSTALLED CAPACITY

• FUNDED THROUGH INTERNAL ACCRUALS

Source text for Eikon: ID:nNSE8JXjcR

Further company coverage: ASPN.NS

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** Asian Paints ASPN.NS drops 0.9% as the stock trades ex-dividend

** Stock top loser on blue-chip Nifty 50 .NSEI, which is up 0.4%

** Stock's div yield of 1.13% is 19th highest among the 50 stocks on the Nifty 50

** ASPN has fallen 14.5% YTD, while on a total return basis, its decline is 13.7%

** The Nifty 50 has gained 7.4% so far this year

** Analysts rate ASPN a 'hold' and, on avg, expect it to rise 1.2% over next 12 months -LSEG data

(Reporting by Savio Dsouza)

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** India's Asian Paints ASPN.NS likely to see a margin decline in FY25 on higher ad spends, negative pricing, says brokerage Systematix

** ASPN down 1.1%, among the 13 Nifty stocks in the red amidst a broadbased rally

** Nifty .NSEI up 1% at midday

** Operating profit margin (OPM) for country's top paint producer to contract to 20.4% in FY25 - brokerage

** ASPN's annual OPMs expanded in the last three fiscal years, from 16.5% in FY22 to 21.4% in FY24

** Brokerage sees ASPN hiking promotional expenses by 44% y/y in FY25, higher than 13.3%-22.2% growth range from the last three fiscal years

** YTD ASPN down ~14% vs a 4.8% rise in NSEI

(Reporting by Hritam Mukherjee in Bengaluru)

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May 27 (Reuters) - Asian Paints Ltd ASPN.NS:

• ASIAN PAINTS LTD - UNIT ENTERED INTO SHARE PURCHASE AGREEMENT WITH CERTAIN MINORITY SHAREHOLDERS OF SCIB CHEMICALS S.A.E.

• ASIAN PAINTS LTD - DEAL FOR ACQUISITION OF 24.3% SHARE CAPITAL OF SCIB FOR CONSIDERATION OF USD 4.13 MN

• ASIAN PAINTS LTD - POST COMPLETION OF ACQUISITION UNIT SHALL HOLD 85.6% STAKE IN SCIB

Source text for Eikon: ID:nBSE8LGtkT

Further company coverage: ASPN.NS

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** Asian Paints ASPN.NS edges 0.2% lower ahead of Q4 report

** Analysts expect ASPN to report 9.6% increase in Q4 profit, 3.8% rise in revenue -LSEG data

** Ambit Capital expects vol growth to slow to 6% from 14% year-ago on soft demand but expects price cuts to generate effective rev growth

** Jefferies sees gross margins to be flattish q-o-q, but expanding y-o-y on lower raw material prices

** Centrum says post-festival season demand remains sluggish yet picked up in Feb/March on demand for exterior paints, launch of new products, strong traction in damp-proof segment

** Analysts' avg rating on ASPN is "hold" -LSEG data

** Kansai Nerolac KANE.NS, Indigo Paints INDG.NS, Akzo Nobel AKZO.NS also 'hold's; Berger Paints BRGR.NS a 'sell'

** ASPN down 16.5% YTD vs Nifty 50's .NSEI 2.4% rise

(Reporting by Rama Venkat in Bengaluru)

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BENGALURU, May 4 (Reuters) - India's Kansai Nerolac Paints KANE.NS reported a higher profit for the fifth straight quarter on Saturday, aided by sustained demand from decorative and industrial coatings.

WHY IT'S IMPORTANT

Growing activity in India's real estate sector has stoked demand for decorative home paints and benefited companies including Kansai Nerolac.

Prices of crude - which accounts for roughly one-third of paintmakers' costs - have eased from their 2022-highs, but were still higher year-on-year during the January-March period.

The entry of Grasim Industries GRAS.NS into the sector will intensify competition in an already crowded industry, dominated by market leader Asian Paints ASPN.NS, analysts have said.

BY THE NUMBERS

Japan's Kansai Paint Co 4613.T-owned firm's consolidated net profit rose about 24% year-on-year to 1.16 billion rupees ($13.9 million) in the quarter ended March.

Revenues at India's third-largest paintmaker by market capitalisation rose over 2% to 17.69 billion rupees, while a rise in input costs helped total expenses tick 1.7% higher.

KEY QUOTES

"The demand for industrial coatings though good, moderated from previous quarter. Decorative once again recorded double digit volume growth," said Managing Director Anuj Jain.

"Going forward, the forecast of a good monsoon should augur well for paint industry," he added.

($1 = 83.3760 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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April 26 (Reuters) - Asian Paints Ltd ASPN.NS:

• GETS TAX DEMAND NOTICE FOR 28.3 MILLION RUPEES

• GETS TAX DEMAND NOTICE WITH PENALTY OF 2.8 MILLION RUPEES

Source text for Eikon: ID:nNSE2LxS5C

Further company coverage: ASPN.NS

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