Asian Paints is the largest paint company based in India and Asia, and the second largest paint company in the world, with a turnover of ₹34,489 Crore in the financial year 2023 and a market cap of ₹2,85,270 Crore. It was founded in 1942 and had its headquarters in Mumbai, Maharashtra. Asian Paints manufactures a wide range of paints for decorative and industrial use. Its products include interior and exterior wall paints, wood coatings, varnishes, enamels, distempers, and other products. It also offers a range of services such as color consultancy, painting services, and design solutions.
Asian Paints Stock History
Asian Paints has been listed on the Bombay Stock Exchange (BSE) since 1994.
As of January 30, 2024, Asian Paints is trading at around ₹2,974 per share.
The stock has been a consistent performer, with a CAGR (Compound Annual Sales Growth Rate) of over 15% over the last five years and compounded profit growth of 15% (last 5 years).
Asian Paints has been buoyed by strong financial performance, with consistent growth in revenues and profits. The company has also been focusing on increasing its presence in international markets and has been expanding its product portfolio.
Asian Paints Q3 FY24 Financial Highlights
- Consolidated Net Profit: Increased by 34.5% to ₹1,475 crore compared to ₹1,097 crore in the year-ago period.
- Revenue from Operations: Rose by 5.4% to ₹9,104 crore in Q3 FY24 from ₹8,636.7 crore in the corresponding period last year.
- EBITDA: Recorded at ₹2,056 crore, showing a significant growth from ₹1,611.4 crore in the previous year’s Q3. EBITDA margin increased to 22.6% from 18.7% YoY.
- Decorative Business: Showcased strong performance with a 12% volume growth and 5.5% value growth, driven by luxury and economy segments.
- Industrial Coatings: Registered a robust double-digit value growth in the December quarter.
- Bath Fitting Business: Experienced a 5% decline in sales, dropping to ₹85.4 crore from ₹89.8 crore due to weak industry demand.
- International Business: Flat sales at ₹779.1 crore; however, in constant currency terms, sales increased by 5.2%.
- Kitchen Business: After four consecutive quarters of de-growth, saw flat sales at ₹100.1 crore in Q3 FY24.
- White Teak: Sales rose by 18.3% to ₹33.7 crore.
- Weatherseal: Witnessed a significant increase with sales more than doubling to ₹13.7 crore.
- CEO’s Comments: Amit Syngle, Managing Director & CEO, mentioned growth supported by the extended festive season, moderation in demand in the latter part of the quarter, sturdy revenue growth in Auto OE and General Industrial coating businesses, and increased profitability in the International Business.
- Home Décor Space: Saw a better quarter, with new categories making headway, significant margin gains from growth in luxury products, and cost efficiencies in Q3.
How to buy Asian Paints Stock in India?
You can buy Asian Paints stock in India through any of the leading stockbrokers. To open an account with a broker, you will need to provide your details and KYC documents. Once your account is opened and funded, you can place a buy order for Asian Paints stock on the broker’s trading platform. The order will be executed at the best available price and you will receive the stocks in your Demat account. Some of the online platforms selling Asian Paints shares are Zerodha, 5paisa, Upstox, and ICICI Direct.
However, my recommendation would be PayTM Money.
Asian Paints Price Prediction 2024-2030
Asian Paints price target 2024
| When | Maximum Price | Minimum Price |
| January 2024 | 3,211.92 | 2,792.97 |
| February 2024 | 3,277.47 | 2,849.97 |
| March 2024 | 3,344.36 | 2,908.14 |
| April 2024 | 3,246.95 | 2,823.43 |
| May 2024 | 3,198.96 | 2,781.71 |
| June 2024 | 3,314.13 | 2,881.85 |
| July 2024 | 3,280.99 | 2,853.03 |
| August 2024 | 3,412.22 | 2,967.15 |
| September 2024 | 3,548.71 | 3,085.84 |
| October 2024 | 3,479.13 | 3,025.33 |
| November 2024 | 3,583.50 | 3,116.09 |
| December 2024 | 3,673.09 | 3,193.99 |
Asian Paints is projected to experience fluctuating stock prices in 2024, with estimates ranging from a minimum of ₹2,781.71 in May to a maximum of ₹3,673.09 in December.
The current price as of January 30, 2024, is ₹2,974. The stock’s market capitalization is ₹2,85,270 Cr., and it has a high/low range of ₹3,568/₹2,694. With a stock P/E of 52.3 and a book value of ₹173, investors can anticipate dynamic market movements throughout the year.
Asian Paints price target 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 3,746.55 | 2,881.96 |
| February 2025 | 3,842.62 | 2,955.86 |
| March 2025 | 3,992.48 | 3,071.14 |
| April 2025 | 3,914.20 | 3,010.92 |
| May 2025 | 3,800.19 | 2,923.22 |
| June 2025 | 3,971.20 | 3,054.77 |
| July 2025 | 3,893.33 | 2,994.87 |
| August 2025 | 4,013.75 | 3,087.50 |
| September 2025 | 4,154.23 | 3,195.56 |
| October 2025 | 4,262.24 | 3,278.64 |
| November 2025 | 4,368.79 | 3,360.61 |
| December 2025 | 4,478.01 | 3,444.63 |
Asian Paints is anticipated to witness price fluctuations in 2025, with the projected range varying from a minimum of ₹2,881.96 in January to a maximum of ₹4,478.01 in December. Investors can expect dynamic market movements throughout the year, reflecting changing economic conditions and industry dynamics.
Asian Paints price target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 4,612.35 | 3,547.96 |
| February 2026 | 4,730.62 | 3,638.94 |
| March 2026 | 4,915.11 | 3,780.86 |
| April 2026 | 4,818.74 | 3,706.72 |
| May 2026 | 4,678.39 | 3,598.76 |
| June 2026 | 4,888.91 | 3,760.70 |
| July 2026 | 4,793.05 | 3,686.96 |
| August 2026 | 4,941.29 | 3,800.99 |
| September 2026 | 5,114.24 | 3,934.03 |
| October 2026 | 5,247.21 | 4,036.31 |
| November 2026 | 5,378.39 | 4,137.22 |
| December 2026 | 5,512.85 | 4,240.65 |
In 2026, Asian Paints is expected to display a diverse range of stock prices, with estimates ranging from a minimum of ₹3,547.96 in January to a maximum of ₹5,512.85 in December.
Asian Paints price target 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 5,623.10 | 4,325.46 |
| February 2027 | 5,767.29 | 4,436.37 |
| March 2027 | 5,992.21 | 4,609.39 |
| April 2027 | 5,874.72 | 4,519.01 |
| May 2027 | 5,703.61 | 4,387.39 |
| June 2027 | 5,960.27 | 4,584.82 |
| July 2027 | 5,843.40 | 4,494.92 |
| August 2027 | 6,024.13 | 4,633.94 |
| September 2027 | 6,234.97 | 4,796.13 |
| October 2027 | 6,397.08 | 4,920.83 |
| November 2027 | 6,557.01 | 5,043.85 |
| December 2027 | 6,720.93 | 5,169.95 |
Asian Paints price target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 6,855.35 | 5,273.35 |
| February 2028 | 7,031.13 | 5,408.56 |
| March 2028 | 7,305.34 | 5,619.49 |
| April 2028 | 7,162.10 | 5,509.31 |
| May 2028 | 6,953.50 | 5,348.84 |
| June 2028 | 7,266.40 | 5,589.54 |
| July 2028 | 7,123.92 | 5,479.94 |
| August 2028 | 7,344.25 | 5,649.42 |
| September 2028 | 7,601.30 | 5,847.15 |
| October 2028 | 7,798.94 | 5,999.18 |
| November 2028 | 7,993.91 | 6,149.16 |
| December 2028 | 8,193.76 | 6,302.89 |
Asian Paints price target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 8,357.63 | 6,428.95 |
| February 2029 | 8,571.93 | 6,593.79 |
| March 2029 | 8,906.23 | 6,850.95 |
| April 2029 | 8,731.60 | 6,716.62 |
| May 2029 | 8,477.28 | 6,520.99 |
| June 2029 | 8,858.76 | 6,814.43 |
| July 2029 | 8,685.06 | 6,680.82 |
| August 2029 | 8,953.67 | 6,887.44 |
| September 2029 | 9,267.05 | 7,128.50 |
| October 2029 | 9,507.99 | 7,313.84 |
| November 2029 | 9,745.69 | 7,496.69 |
| December 2029 | 9,989.33 | 7,684.10 |
Asian Paints price target 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 10,189.12 | 7,837.79 |
| February 2030 | 10,450.38 | 8,038.75 |
| March 2030 | 10,857.95 | 8,352.27 |
| April 2030 | 10,645.04 | 8,188.50 |
| May 2030 | 10,335.00 | 7,950.00 |
| June 2030 | 10,800.07 | 8,307.75 |
| July 2030 | 10,588.30 | 8,144.85 |
| August 2030 | 10,915.78 | 8,396.75 |
| September 2030 | 11,297.83 | 8,690.64 |
| October 2030 | 11,591.57 | 8,916.59 |
| November 2030 | 11,881.36 | 9,139.51 |
| December 2030 | 12,178.40 | 9,368.00 |
Asian Paints’ Financial Condition: Last 5 years
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Sales (Crore Rs) |
19,240 | 20,211 | 21,713 | 29,101 | 34,489 |
| Expenses (Crore Rs) |
15,475 | 16,054 | 16,857 | 24,298 | 28,229 |
| Operating Profit (Crore Rs) |
3,765 | 4,157 | 4,856 | 4,804 | 6,260 |
| OPM % | 20% | 21% | 22% | 17% | 18% |
| Other Income (Crore Rs) |
274 | 355 | 332 | 296 | 431 |
| Interest (Crore Rs) |
110 | 102 | 92 | 95 | 144 |
| Depreciation (Crore Rs) |
622 | 780 | 791 | 816 | 858 |
| Profit before tax (Crore Rs) |
3,306 | 3,629 | 4,304 | 4,188 | 5,689 |
| Tax % | 33% | 24% | 26% | 26% | 26% |
| Net Profit (Crore Rs) |
2,208 | 2,774 | 3,207 | 3,085 | 4,195 |
| EPS (in Rs) | 22.48 | 28.20 | 32.73 | 31.59 | 42.81 |
| Dividend Payout % | 47% | 43% | 55% | 61% | 60% |
Motilal Oswal maintains a neutral stance on Asian Paints with a target price of Rs 3340.
Also, read the share price targets of other paint companies:
- Berger Paints Share Price Target
- Indigo Paints Share Price Target
- SHALIMAR PAINTS SHARE PRICE TARGET
In the last 1 year, Asian paints’ share price has fallen by a negative 0.67%.
If you bought the top, your portfolio may not have grown. Not just that, in the last 2 years, the share has fallen multiple times from the range of Rs. 280000 to Rs. 3600. The share price is not growing and looks to be capitulating.
If you are one who bought the top of Asian Paints share price during this period, you must be thinking: Is Asian Paints a good stock to buy and hold or should you exit from the company?
To understand that, let us have a look at the sales, and profits YOY. Is there anything wrong with the numbers?
The sales have been growing YOY. The profits are growing YOY, and that too at an impressive rate. I could not find anything wrong with the company.
At times, operators do play with the chart and test your patience.
To make a big up-move, Asian paints may play in the same region for quite some time now, but if you are a long-term holder, I do not see anything that could worry investors, at this point.
FAQs
What is the market cap of Asian Paints?
As of January 30, 2024, the market cap of Asian Paints is ₹ 2,85,270 Cr.
Asian Paints is expected to continue its strong performance in the coming years. The paints company has a strong presence in the Indian market and is expanding its presence in international markets. It is also focusing on increasing its product portfolio, expanding its distribution network, and improving its logistics operations.
Looking at these factors, Asian Paints’ share price target for 2025 is approximately ₹3,848.625. The maximum and minimum share price targets are ₹4,478.01 and ₹2,881.96 respectively.
Can Asian Paints Reach 10,000 INR?
It‘s feasible that Asian Paints could reach a price of 10,000 INR in the year 2029. The company is zeroing in on expanding its presence in overseas markets and enhancing its product selection, which could give it a lift in the future.
Asian paints are expected to trade in between ₹12,178.40 and ₹7,837.79, by 2030.
Conclusion: Should you buy Asian Paints in 2024?
Asian Paints is the largest and most successful paint company in India and the whole of Asia. The company has performed consistently in the past, with a CAGR of 15% over the last five years. It is focusing on expanding its presence in the international markets and improving its product portfolio, which could help it reach its target price of 10,000 INR in the future. For anyone who wants to invest in the paints sector, Asian paints should be included in one’s long-term portfolio.
Disclaimer: We hold Asian paint shares in our portfolio at the time of writing this article, and this is not financial advice. Please consult your financial advisor before investing in Asian paints or any other stocks.
What did we learn?
- 1 Asian Paints Stock History
- 2 Asian Paints Q3 FY24 Financial Highlights
- 3 How to buy Asian Paints Stock in India?
- 4 Asian Paints Price Prediction 2024-2030
- 5 Asian Paints’ Financial Condition: Last 5 years
- 6 Asian Paints Share Price Target by Motilal Oswal
- 7 Asian Paints Share Price is Not Growing- Should You be Worried?
- 8 FAQs
- 9 Conclusion: Should you buy Asian Paints in 2024?
Linkedin
