Asian Paints (APL) is India’s largest decorative paint company. The company derives ~98% revenue from the paints business while 2% business comes from the home improvement business (kitchen and bathroom fittings).
Caters to ~1.5 lakh retail touchpoints across India
Despite being in a capital intensive business, the company has maintained a strong balance sheet with RoCE, RoE of ~31%, 27%, respectively
Q4FY23 Results
Strong performance on all fronts.
APL reported healthy revenue growth of ~11% YoY to ~₹ 8787 crore led by strong volume offtake. Decorative volume growth came in at 16% YoY led by robust demand and expansion of distribution networks. The company has not taken any price hike during Q4FY23
Easing raw material prices helped drive gross margin up 379 bps YoY. As a result, EBITDA margin expanded 293 bps YoY to 21.2%
PAT grew 44% YoY to ₹ 1258.4 crore tracking EBITDA margin expansion
Consolidated Net Sales decreased by 0.6% to Rs 8,701.5 crore from Rs 8,750.8 crore.
Improvement in gross margins by about 120 basis points in Q4FY24 as compared to Q4 FY23.
PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 9.3% to Rs 1,691.4 crore from Rs 1,864.8 crore.
PBDIT Margin as % to Sales at 19.4% as compared to 21.3% in the corresponding period of the previous year.
Profit before exceptional items and tax decreased by 6.4% to Rs 1,624.1 crore from Rs 1,734.5 crore.
Net Profit after minority interest increased by 1.8% to Rs 1,256.7 crore from Rs 1,234.1 crore.
Standalone:
Net Sales decreased by 1.9% to Rs 7,443.9 crore from Rs 7,589.2 crore.
Improvement in gross margins by about 140 basis points in Q4FY24 as compared to Q4 FY23.
PBDIT for the quarter decreased by 11.4% to Rs 1,548.8 crore from Rs 1,747.6 crore.
PBDIT Margin as % to Sales at 20.8% from 23.0% in the corresponding period of the previous year.
Profit before tax decreased by 8.0% to Rs 1,522.1 crore from Rs 1,654.0 crore.
Net Profit decreased by 2.0% to Rs 1,209.4 crore from Rs 1,233.7 crore.
FY24 Financial Highlights:
Consolidated:
Consolidated Net Sales increased by 3.0% to Rs 35,382.1 crore from Rs 34,367.8 crore.
Improvement in gross margins by about 480 basis points in FY24 as compared to FY23.
PBDIT (before share in profit of associates) increased by 21.2% to Rs 7,585.0 crore from Rs 6,259.8 crore.
PBDIT Margin as % to Sales improved to 21.4% from 18.2% in the previous year.
Profit before exceptional items and tax increased by 28.1% to Rs 7,347.8 crore from Rs 5,737.7 crore.
Net Profit after minority interest increased by 33.0% to Rs 5,460.2 crore from Rs 4,106.5 crore.
Standalone:
Net Sales increased by 2.6% to Rs 30,727.7 crore from Rs 29,953.1 crore.
Improvement in gross margins by about 520 basis points in FY24 as compared to FY23.
PBDIT for the period increased by 20.8% to Rs 7,030.4 crore from Rs 5,820.5 crore.
PBDIT Margin as % to Sales improved to 22.9% from 19.4% in the previous year.
Profit before tax increased by 27.6% to Rs 7,005.0 crore from Rs 5,489.6 crore.
Net Profit increased by 29.8% to Rs 5,321.6 crore from Rs 4,100.2 crore
Amit Syngle, Managing Director & CEO of Asian Paints, said “We crossed the Rs 35,000 crore consolidated revenue milestone in FY2024. Our Decorative & Industrial coatings combined, delivered a volume growth of 10% and value growth of 3.9% for the year with our Industrial segment registering double-digit value growth. We are the largest integrated Home Décor player. And during the year, we made good progress on launching new collections and expanding our store footprint as well as integrating our Home Décor offerings within our Beautiful Homes network. Profits for the year have grown in strong double digits supported by subdued material prices coupled with sourcing and formulation efficiencies.
Decorative Business volume grew at a healthy clip of 10% in the fourth quarter. However, revenues were 1.8% lower than last year impacted by the weak demand environment and downtrading, particularly in the Premium segment. The Economy and Luxury range though, grew well. Price cuts implemented in the last few months also affected the fourth quarter value. Overall, the coatings revenue including Industrial, was almost flat for the quarter. Our International Business has seen steady growth in the Middle Eastern and African markets but remains constrained by macro-economic headwinds in South Asia and Egypt. Despite these challenges, profit delivery in the Global business has been strong all through the year.
Looking ahead, we remain confident about a pick-up in demand conditions with a favorable monsoon forecast. We will continue to innovate with speed and invest in our brand, focusing on our consumers and keeping their interests at the forefront.”
Asian Paints Limited is engaged in manufacturing paints. The company has its market capitalization worth INR2,55,702.95 crore as of 16th April 2021. This company was established in 1942. The company has reported quarterly revenue of INR5,872.81 crore at the end of December 2020. This company is listed on the Bombay Stock Exchange (BSE), having the code 500820 and on the National Stock Exchange (NSE) with the symbol ASIANPAINT.
The company is an Indian multinational paint manufacturing company engaged in manufacturing, selling and distributing paints and products about home decor, bath fittings, and related services. The company has its headquarters in Mumbai.
In 1945, Asian paints Ltd. was incorporated, and the company changed its name to Asian Paints (India) Pvt. Ltd. in the year 1965. In 1973, the corporation became a public limited company. Asian Paints Ltd. is India's largest paint manufacturer, Asia's third-largest, and ranks among the world's top ten paint manufacturers. The company has 27 paint production plants in 22 countries and serves clients in 65 countries. The company has established its manufacturing plants in Maharashtra, Gujarat, Andhra Pradesh, Uttar Pradesh, Tamil Nadu and Haryana. Some of the subsidiaries of Asian Paints are- Sleek International Private Ltd., Asian Paints (Middle East) LLC, Asian Paints Industrial Coating Ltd. and Kitchen Grace India Private Ltd., among others. The company began commercial manufacture of water-based paints and intermediaries in the state of Karnataka in 2019, with a potential of 3 lakh kilolitres per year, which made its ultimate capacity of 6 Lakh KL p.a. and another plant at Visakhapatnam with an initial capacity of 3 Lakh KL p.a. and making the maximum capacity to 5 Lakh KL p.a. The firm offers a wide variety of facilities to meet the demands of large schemes such as co-operative housing associations, institutes, and government agencies. The company reported an increase in profits over the last two years, with Rs.840 crores in March 2019 and Rs.1240 crores in March 2020. The debt of the company stands Rs.1644 crores as of March 2021. The firm operates in all four decorative colours, including Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wall Finishes, and Exterior Wall Finishes, Enamels and Wood Finishes. Colour Worlds (Dealer Tinting Systems), Home Solutions (painting solutions Service), Kids World (painting solutions for kids' rooms), Colour Next (prediction of colour trends by in-depth research), and Royale Play Special Effect Paints are just a couple of the innovative paint ideas they've introduced to the Indian market.
Asian Paints Limited is engaged in manufacturing paints. The company has its market capitalization worth INR2,55,702.95 crore as of 16th April 2021. This company was established in 1942. The company has reported quarterly revenue of INR5,872.81 crore at the end of December 2020. This company is listed on the Bombay Stock Exchange (BSE), having the code 500820 and on the National Stock Exchange (NSE) with the symbol ASIANPAINT.
The company is an Indian multinational paint manufacturing company engaged in manufacturing, selling and distributing paints and products about home decor, bath fittings, and related services. The company has its headquarters in Mumbai.
In 1945, Asian paints Ltd. was incorporated, and the company changed its name to Asian Paints (India) Pvt. Ltd. in the year 1965. In 1973, the corporation became a public limited company. Asian Paints Ltd. is India's largest paint manufacturer, Asia's third-largest, and ranks among the world's top ten paint manufacturers. The company has 27 paint production plants in 22 countries and serves clients in 65 countries. The company has established its manufacturing plants in Maharashtra, Gujarat, Andhra Pradesh, Uttar Pradesh, Tamil Nadu and Haryana. Some of the subsidiaries of Asian Paints are- Sleek International Private Ltd., Asian Paints (Middle East) LLC, Asian Paints Industrial Coating Ltd. and Kitchen Grace India Private Ltd., among others. The company began commercial manufacture of water-based paints and intermediaries in the state of Karnataka in 2019, with a potential of 3 lakh kilolitres per year, which made its ultimate capacity of 6 Lakh KL p.a. and another plant at Visakhapatnam with an initial capacity of 3 Lakh KL p.a. and making the maximum capacity to 5 Lakh KL p.a. The firm offers a wide variety of facilities to meet the demands of large schemes such as co-operative housing associations, institutes, and government agencies. The company reported an increase in profits over the last two years, with Rs.840 crores in March 2019 and Rs.1240 crores in March 2020. The debt of the company stands Rs.1644 crores as of March 2021. The firm operates in all four decorative colours, including Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wall Finishes, and Exterior Wall Finishes, Enamels and Wood Finishes. Colour Worlds (Dealer Tinting Systems), Home Solutions (painting solutions Service), Kids World (painting solutions for kids' rooms), Colour Next (prediction of colour trends by in-depth research), and Royale Play Special Effect Paints are just a couple of the innovative paint ideas they've introduced to the Indian market.
Asian Paints share price as on 30 Jun 2024 is Rs. 2917.05. Over the past 6 months, the Asian Paints share price has decreased by 14.32% and in the last one year, it has decreased by 12.88%. The 52-week low for Asian Paints share price was Rs. 2670.1 and 52-week high was Rs. 3568.
You can buy Asian Paints Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Asian Paints Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Jun 28, 2024 04:08 PM the closing price of Asian Paints Ltd was Rs.2,917.05.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 28, 2024 04:08 PM, the market cap of Asian Paints Ltd stood at Rs. 279,802.85 Cr.
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