Fundamentals scanner
Every ratio from the Fundamental Analysis track, computed on a real company and annotated with what the number actually means. Then the three financial statements, so you can do the cash-flow check yourself.
Asian Paints
Basic MaterialsNeutral- Market cap
- ₹2,58,479 Cr
- P/E
- 54.3x
- ROE
- —
- Debt / equity
- 0.18
What the company does
Asian Paints Limited, together with its subsidiaries, engages in the manufacture, distribution, and sale of paints, coatings, and products related to home decoration and bath fittings, kitchen, and wardrobe in India, Asia, the Middle East, Africa, and the South Pacific region. The company offers wall coverings, waterproofing products, adhesives; and bath fittings and sanitaryware, modular kitchens and wardrobes, fabric, furnishings, rugs, decorative lightings, unplasticized polyvinyl chloride windows and door systems, furniture, textures and painting aids, and mechanized tools. It also provides color consultancy, projects, home painting services, waterproofing and wood solutions, and assure services; and interior and exterior wall finishes, enamels, tools, undercoats, thinners, and varnishers. The company offers its products under the Asian Paints, SCIB Paints, Apco Coatings, Asian Paints Berger, Taubmans, Asian Paints Causeway, and Kadisco Asian Paints brand names. It serves homeowners, large projects, dealers, corporates, architects, interior designers, contractors, and influencers through multi-channel distribution network comprising wholesalers, distributors, retail outlets, and e-commerce platforms. Asian Paints Limited was founded in 1942 and is headquartered in Mumbai, India.
Valuation — what you are paying
How the price compares to earnings, assets and cash generation.
- P/E (trailing)54.3xWeak
You are paying 54.3 years of current profit for each share. The earnings yield is 1.8%.
- P/B (price to book)12.1xWeak
The market values the company at 12.1× its accounting net worth. High is normal for asset-light businesses and unusual for banks.
- EV / EBITDA37.0xWeak
This is the only common multiple that accounts for debt — it is what an actual acquirer would look at, because they would inherit the borrowings.
- Dividend yield1.02%Fair
Pays 1.02% of the current price out each year. Remember that yield rises when price falls — check the dividend is covered by cash flow.
Profitability — is this a good business?
Returns on capital and margins, the numerical shadow of a moat.
- Return on equity—No data
Not available.
- Return on assets—No data
Not available.
- Operating margin17.7%Fair
Keeps ₹17.7 of operating profit from every ₹100 of sales. Compare only against companies in the same industry.
- Net margin12.8%Strong
Sustained high net margins are evidence that something is stopping competitors from competing the profits away.
Financial strength — can it survive a bad year?
Leverage and liquidity. This is where fragility shows up first.
- Debt to equity0.18Strong
A conservative balance sheet that can absorb a downturn without a crisis.
- Current ratio—No data
Not available.
- Total debt₹3928.93 CrNo data
Against cash of ₹8601.64 Cr. Net debt is what matters, not gross borrowings.
- Free cash flow—No data
Not available.
Growth — is it getting bigger?
Revenue and earnings momentum, and how the two compare.
- Revenue growth (yoy)+17.9%Strong
Ask where the growth came from: more volume, higher prices, or an acquisition. They are very different in quality.
- Earnings growth (yoy)+39.9%Strong
Profits are growing faster than sales — margins are expanding, which is the sign of genuine operating leverage.
- Revenue (TTM)₹37186.93 CrNo data
EBITDA of ₹6887.89 Cr and operating cash flow of —.
- PEG ratio—No data
Not available.
Financial statements
Reported figures, most recent year first. All values in rupees.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹35583.54 Cr | ₹33905.62 Cr | ₹30850.12 Cr | ₹34367.83 Cr |
| Cost of revenue | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Gross profit | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating expenses | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Operating income | — | — | — | — |
| Interest expense | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax | ₹0.00 | ₹0.00 | ₹0.00 | ₹0.00 |
| Net profit | ₹4325.35 Cr | ₹3667.23 Cr | ₹5460.23 Cr | ₹4106.45 Cr |