Asian Paints
Asian Paints Limited, together with its subsidiaries, manufactures, sells, and distributes paints and coatings for decorative and industrial use in India and internationally. The last earnings update was 10 days ago. More info.
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ASIANPAINT Share Price and Events
7 Day Returns
1 Year Returns
ASIANPAINT Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Asian Paints (ASIANPAINT) | -1.6% | -10.2% | -4.4% | 0.9% | 38.1% | 144.2% |
| IN Chemicals | -0.1% | -5.5% | 4% | -4.4% | 50.8% | 150.5% |
| IN Market | -0.1% | -5% | 4.7% | -3.7% | 34.5% | 38.6% |
1 Year Return vs Industry and Market
- ASIANPAINT outperformed the Chemicals industry which returned -4.4% over the past year.
- ASIANPAINT outperformed the Market in India which returned -3.7% over the past year.
Value
Is Asian Paints undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Asian Paints
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Asian Paints.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 26 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 15.4% |
| Perpetual Growth Rate | 10-Year IN Government Bond Rate | 7.6% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year IN Govt Bond Rate | 7.6% |
| Equity Risk Premium | S&P Global | 8.6% |
| Chemicals Unlevered Beta | Simply Wall St/ S&P Global | 0.87 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.873 (1 + (1- 35%) (0.49%)) |
0.917 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.92 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.917 * 8.6%) |
15.43% |
Discounted Cash Flow Calculation for NSEI:ASIANPAINT using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Asian Paints is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (INR, Millions) | Source |
Present Value Discounted (@ 15.43%) |
|
|---|---|---|---|
| 2019 | 11,983.54 | Analyst x13 | 10,381.39 |
| 2020 | 19,801.00 | Analyst x14 | 14,860.31 |
| 2021 | 25,416.20 | Analyst x15 | 16,524.24 |
| 2022 | 28,654.00 | Analyst x1 | 16,138.62 |
| 2023 | 31,706.79 | Est @ 10.65% | 15,470.48 |
| 2024 | 34,789.57 | Est @ 9.72% | 14,705.20 |
| 2025 | 37,945.31 | Est @ 9.07% | 13,894.74 |
| 2026 | 41,214.16 | Est @ 8.61% | 13,074.02 |
| 2027 | 44,632.99 | Est @ 8.3% | 12,265.60 |
| 2028 | 48,235.62 | Est @ 8.07% | 11,483.41 |
| Present value of next 10 years cash flows | ₹138,798.01 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= ₹48,235.62 × (1 + 7.55%) ÷ (15.43% – 7.55%) |
₹658,098.90 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= ₹658,098.90 ÷ (1 + 15.43%)10 |
₹156,673.07 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= ₹138,798.01 + ₹156,673.07 |
₹295,471.08 |
| Equity Value per Share (INR) |
= Total value / Shares Outstanding
= ₹295,471.08 / 959.20 |
₹308.04 |
| Calculation | Result | |
|---|---|---|
| Value per share (INR) | From above. | ₹308.04 |
| Current discount | Discount to share price of
₹1,320.00
= -1 x (₹1,320.00 - ₹308.04) / ₹308.04 |
-328.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Asian Paints is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Asian Paints's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Asian Paints's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in INR | ₹22.51 |
| NSEI:ASIANPAINT Share Price ** | NSEI (2019-05-17) in INR | ₹1320 |
| India Chemicals Industry PE Ratio | Median Figure of 233 Publicly-Listed Chemicals Companies | 14.53x |
| India Market PE Ratio | Median Figure of 2,758 Publicly-Listed Companies | 15.12x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Asian Paints.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NSEI:ASIANPAINT Share Price ÷ EPS (both in INR) = 1320 ÷ 22.51 |
58.64x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Asian Paints is overvalued based on earnings compared to the IN Chemicals industry average.
- Asian Paints is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does
Asian Paints's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 58.64x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts |
17.5%per year |
| India Chemicals Industry PEG Ratio | Median Figure of 53 Publicly-Listed Chemicals Companies | 1.26x |
| India Market PEG Ratio | Median Figure of 559 Publicly-Listed Companies | 1.25x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 58.64x ÷ 17.5% |
3.36x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Asian Paints is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Asian Paints's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in INR | ₹99.20 |
| NSEI:ASIANPAINT Share Price * | NSEI (2019-05-17) in INR | ₹1320 |
| India Chemicals Industry PB Ratio | Median Figure of 268 Publicly-Listed Chemicals Companies | 1.37x |
| India Market PB Ratio | Median Figure of 3,638 Publicly-Listed Companies | 1.02x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NSEI:ASIANPAINT Share Price ÷ Book Value per Share (both in INR) = 1320 ÷ 99.20 |
13.31x |
* Primary Listing of Asian Paints.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Asian Paints is overvalued based on assets compared to the IN Chemicals industry average.
Value checks
We assess Asian Paints's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check) Asian Paints has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Asian Paints's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
- Asian Paints's earnings growth is expected to exceed the India market average.
- Asian Paints's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NSEI:ASIANPAINT Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 26 Analysts | 17.5% |
| NSEI:ASIANPAINT Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 26 Analysts | 13.1% |
| India Chemicals Industry Earnings Growth Rate | Market Cap Weighted Average | 17.7% |
| India Chemicals Industry Revenue Growth Rate | Market Cap Weighted Average | 14.3% |
| India Market Earnings Growth Rate | Market Cap Weighted Average | 16.8% |
| India Market Revenue Growth Rate | Market Cap Weighted Average | 10.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 26 Analyst Estimates (S&P Global) | See Below |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-03-31 | 296,522 | 38,746 | 38,652 | 4 |
| 2021-03-31 | 253,602 | 31,059 | 31,150 | 25 |
| 2020-03-31 | 220,900 | 26,367 | 25,847 | 25 |
| Date (Data in INR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 193,498 | 21,595 | |
| 2018-12-31 | 186,490 | 21,674 | |
| 2018-09-30 | 176,156 | 20,864 | |
| 2018-06-30 | 172,418 | 21,021 | |
| 2018-03-31 | 166,667 | 21,134 | 19,689 |
| 2017-12-31 | 163,275 | 19,725 | |
| 2017-09-30 | 159,241 | 18,692 | |
| 2017-06-30 | 153,684 | 18,312 | |
| 2017-03-31 | 150,181 | 15,273 | 19,136 |
| 2016-12-31 | 161,239 | 18,770 | |
| 2016-09-30 | 160,195 | 18,798 | |
| 2016-06-30 | 156,933 | 18,076 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 26 Analyst Estimates (S&P Global) | See Below |
All data from Asian Paints Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-03-31 | 40.29 | 42.12 | 37.72 | 4.00 |
| 2021-03-31 | 32.56 | 35.26 | 28.80 | 26.00 |
| 2020-03-31 | 27.02 | 29.48 | 23.70 | 26.00 |
| Date (Data in INR Millions) | EPS * |
|---|---|
| 2019-03-31 | 22.51 |
| 2018-12-31 | 22.60 |
| 2018-09-30 | 21.75 |
| 2018-06-30 | 21.91 |
| 2018-03-31 | 20.53 |
| 2017-12-31 | 20.56 |
| 2017-09-30 | 19.49 |
| 2017-06-30 | 19.09 |
| 2017-03-31 | 19.95 |
| 2016-12-31 | 19.57 |
| 2016-09-30 | 19.60 |
| 2016-06-30 | 18.85 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Asian Paints's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Asian Paints has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Asian Paints performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Asian Paints's year on year earnings growth rate has been positive over the past 5 years.
- Asian Paints's 1-year earnings growth is less than its 5-year average (9.7% vs 11%)
- Asian Paints's earnings growth has not exceeded the IN Chemicals industry average in the past year (9.7% vs 12.9%).
Earnings and Revenue History
All data from Asian Paints Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in INR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 193,498.40 | 21,594.90 | 12,700.20 | |
| 2018-12-31 | 186,490.40 | 21,673.70 | 21,222.30 | |
| 2018-09-30 | 176,155.70 | 20,864.10 | 20,707.10 | |
| 2018-06-30 | 172,417.50 | 21,020.70 | 20,456.10 | |
| 2018-03-31 | 166,667.00 | 19,689.30 | 20,253.90 | |
| 2017-12-31 | 163,275.40 | 19,724.80 | 19,929.90 | |
| 2017-09-30 | 159,241.10 | 18,691.50 | 19,723.30 | |
| 2017-06-30 | 153,683.50 | 18,311.70 | 19,564.40 | |
| 2017-03-31 | 150,181.30 | 19,135.70 | 18,705.00 | |
| 2016-12-31 | 161,238.50 | 18,769.50 | 22,123.30 | |
| 2016-09-30 | 160,195.00 | 18,797.90 | 21,897.50 | |
| 2016-06-30 | 156,933.40 | 18,075.50 | 21,521.40 | |
| 2016-03-31 | 141,244.50 | 17,451.60 | 17,323.40 | |
| 2015-12-31 | 149,647.40 | 16,584.30 | 34,462.40 | |
| 2015-09-30 | 144,645.90 | 15,633.30 | 34,311.60 | |
| 2015-06-30 | 143,207.40 | 15,116.30 | 34,180.80 | |
| 2015-03-31 | 140,681.90 | 13,951.50 | 18,187.00 | |
| 2014-12-31 | 138,432.80 | 13,416.00 | 29,805.60 | |
| 2014-09-30 | 136,530.90 | 13,027.70 | 29,455.70 | |
| 2014-06-30 | 131,504.00 | 12,823.10 | 28,978.90 | |
| 2014-03-31 | 126,435.40 | 12,188.10 | 28,735.00 | |
| 2013-12-31 | 120,974.80 | 11,825.00 | 24,901.60 | |
| 2013-09-30 | 117,187.40 | 11,883.80 | 24,464.40 | |
| 2013-06-30 | 112,362.70 | 11,007.00 | 24,123.30 | |
| 2013-03-31 | 109,338.20 | 11,138.80 | 23,712.80 | |
| 2012-12-31 | 107,832.00 | 11,222.50 | 20,587.10 | |
| 2012-09-30 | 102,972.70 | 10,438.80 | 20,373.30 | |
| 2012-06-30 | 99,176.60 | 10,134.50 | 20,143.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Asian Paints has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Asian Paints used its assets more efficiently than the IN Chemicals industry average last year based on Return on Assets.
- Asian Paints's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Asian Paints's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Asian Paints has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Asian Paints's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Asian Paints's finances.
The net worth of a company is the difference between its assets and liabilities.
- Asian Paints is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Asian Paints's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 12.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Asian Paints Company Filings, last reported 1 month ago.
| Date (Data in INR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 98,827.40 | 6,160.10 | 21,453.80 |
| 2018-12-31 | 91,231.80 | 6,964.20 | 17,554.30 |
| 2018-09-30 | 91,231.80 | 6,964.20 | 17,554.30 |
| 2018-06-30 | 87,378.80 | 5,334.30 | 16,273.70 |
| 2018-03-31 | 87,378.80 | 5,334.30 | 16,273.70 |
| 2017-12-31 | 81,213.90 | 5,641.60 | 18,645.60 |
| 2017-09-30 | 81,213.90 | 5,641.60 | 18,645.60 |
| 2017-06-30 | 79,777.50 | 5,603.40 | 21,681.90 |
| 2017-03-31 | 79,793.40 | 5,603.40 | 21,681.90 |
| 2016-12-31 | 74,128.80 | 3,097.60 | 22,337.50 |
| 2016-09-30 | 74,128.80 | 3,097.60 | 22,337.50 |
| 2016-06-30 | 58,994.60 | 3,259.10 | 19,793.70 |
| 2016-03-31 | 69,085.10 | 3,232.90 | 20,095.00 |
| 2015-12-31 | 56,500.20 | 4,938.80 | 15,433.60 |
| 2015-09-30 | 56,500.20 | 4,938.80 | 15,433.60 |
| 2015-06-30 | 50,060.30 | 4,181.70 | 14,062.70 |
| 2015-03-31 | 50,060.30 | 4,181.70 | 13,913.00 |
| 2014-12-31 | 47,816.60 | 2,970.00 | 16,996.20 |
| 2014-09-30 | 47,816.60 | 2,970.00 | 16,996.20 |
| 2014-06-30 | 42,852.40 | 2,491.50 | 14,607.20 |
| 2014-03-31 | 42,852.40 | 2,491.50 | 12,814.20 |
| 2013-12-31 | 41,516.60 | 2,970.40 | 12,404.60 |
| 2013-09-30 | 41,516.60 | 2,970.40 | 12,404.60 |
| 2013-06-30 | 38,567.90 | 2,247.80 | 10,375.20 |
| 2013-03-31 | 35,450.60 | 2,509.60 | 8,822.50 |
| 2012-12-31 | 33,642.00 | 2,477.50 | 6,639.60 |
| 2012-09-30 | 33,642.00 | 2,477.50 | 6,639.60 |
| 2012-06-30 | 28,851.90 | 3,411.10 | 9,093.30 |
- Asian Paints's level of debt (6.2%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (5.8% vs 6.2% today).
- Debt is well covered by operating cash flow (343.1%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 60.7x coverage).
Financial health checks
We assess Asian Paints's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Asian Paints has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Asian Paints's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
₹2,000 of
Asian Paints
shares you are expected to receive
₹16
in your first year as a dividend.
Dividend Amount
- Asian Paints's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.55%).
- Asian Paints's dividend is below the markets top 25% of dividend payers in India (2.09%).
Upcoming dividend payment
Purchase Asian Paints before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 26 Analyst Estimates (S&P Global) | See Below |
| India Chemicals Industry Average Dividend Yield | Market Cap Weighted Average of 162 Stocks | 1% |
| India Market Average Dividend Yield | Market Cap Weighted Average of 1398 Stocks | 1.4% |
| India Minimum Threshold Dividend Yield | 10th Percentile | 0.3% |
| India Bottom 25% Dividend Yield | 25th Percentile | 0.6% |
| India Top 25% Dividend Yield | 75th Percentile | 2.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in ₹) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-03-31 | 18.78 | 5.00 |
| 2021-03-31 | 15.14 | 25.00 |
| 2020-03-31 | 12.91 | 25.00 |
| Date (Data in ₹) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-09 | 10.500 | 0.792 |
| 2018-10-22 | 8.900 | 0.646 |
| 2018-05-30 | 8.700 | 0.657 |
| 2018-05-10 | 8.700 | 0.672 |
| 2017-10-24 | 8.300 | 0.720 |
| 2017-05-11 | 8.300 | 0.717 |
| 2016-10-25 | 7.950 | 0.799 |
| 2016-05-11 | 7.500 | 0.698 |
| 2015-10-23 | 6.500 | 0.754 |
| 2015-06-04 | 6.100 | 0.744 |
| 2015-05-18 | 6.100 | 0.793 |
| 2014-09-17 | 6.000 | 0.797 |
| 2014-05-14 | 5.300 | 0.906 |
| 2013-05-09 | 4.600 | 0.951 |
| 2012-10-25 | 4.000 | 0.903 |
| 2012-06-29 | 4.000 | 1.062 |
| 2011-10-21 | 3.300 | 1.046 |
| 2011-05-10 | 3.200 | 1.032 |
| 2010-05-28 | 2.700 | 1.043 |
| 2009-10-22 | 1.950 | 1.047 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Asian Paints's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are well covered by earnings (2.1x coverage).
- Dividends after 3 years are expected to be well covered by earnings (2x coverage).
Income/ dividend checks
We assess Asian Paints's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Asian Paints afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Asian Paints has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | ₹105,741,842 |
| AGE | 63 |
| TENURE AS CEO | 7.1 years |
CEO Bio
Mr. K. B. S. Anand, B.Tech, PGDM, has been the Managing Director and Chief Executive Officer of Asian Paints Limited since April 1, 2012 and served as its President of decorative business unit. Mr. Anand served as Vice President of Sales & Marketing at Asian Paints Ltd. He has over 33 years of experience. Mr. Anand has been a Director of Asian Paints Limited since April 1, 2012. Mr. Anand holds B.Tech., P.G.D.M. degrees.
CEO Compensation
- K. B.'s compensation has been consistent with company performance over the past year.
- K. B.'s remuneration is higher than average for companies of similar size in India.
Management Team
K. B. Anand
MD, CEO & Director
₹106M
63
7.1 yrs
Jayesh Merchant
CFO, Company Secretary & President of Industrial JVs
₹39M
61
Amit Syngle
Chief Operating Officer
₹31M
52
R. Jeyamurugan
VP of Finance & Compliance Officer
₹16M
53
1 yrs
Amit Baveja
Chief Internal Auditor
43
Jaideep Nandi
Chief Executive Officer of Asian Paints PPG Pvt Ltd
₹18M
53
Vivek Subramanian
General Manager of Materials
₹7M
59
Aashish Kshetry
Vice President of Supply Chain
₹17M
50
B. Mallik
Vice President of Technology
₹17M
62
Satish Kulkarni
Vice President of Projects & Services
₹18M
49
Board of Directors Tenure
Average tenure and age of the Asian Paints board of directors in years:
- The tenure for the Asian Paints board of directors is about average.
Board of Directors
Ashwin Dani
Non-Executive Chairman
₹4M
76
0.5 yrs
K. B. Anand
MD, CEO & Director
₹106M
63
7.1 yrs
Manish Choksi
Non-Executive Vice Chairman
51
0.5 yrs
Deepak Satwalekar
Independent Director
₹4M
70
19 yrs
M. Sharma
Independent Director
₹4M
6.6 yrs
Malav Dani
Non-Executive Director
₹4M
43
5.6 yrs
Abhay Vakil
Non-Executive Director
₹4M
68
4.8 yrs
Swaminathan Sivaram
Independent Director
₹3M
72
17.8 yrs
Vibha Rishi
Independent Director
₹3M
4.9 yrs
Amrita Vakil
Non-Executive Director
₹3M
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (₹) | Value (₹) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Asian Paints's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Asian Paints has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Was Asian Paints Limited's (NSE:ASIANPAINT) Earnings Growth Better Than The Industry's?
Below, I will assess ASIANPAINT's latest performance announced on 30 September 2018 and weigh these figures against its longer term trend and industry movements. … Did ASIANPAINT's recent earnings growth beat the long-term trend and the industry. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 12%, indicating the rate at which ASIANPAINT is growing has slowed down
Simply Wall St - – Full articleAsian Paints Limited (NSE:ASIANPAINT): The Return Story
and want to better understand how you can grow your money by investing in Asian Paints Limited (NSE:ASIANPAINT). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Thus, to understand how your money can grow by investing in Asian Paints, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleIs Asian Paints Limited (NSE:ASIANPAINT) Excessively Paying Its CEO?
First, this article will compare CEO compensation with compensation at other large companies. … Anand's Compensation Compare With Similar Sized Companies. … Our data indicates that Asian Paints Limited is worth ₹1.2t, and total annual CEO compensation is ₹106m.
Simply Wall St - – Full articleLooking At Asian Paints Limited (NSE:ASIANPAINT) From All Angles
Attractive stocks have exceptional fundamentals. … In the case of Asian Paints Limited (NSE:ASIANPAINT), there's
Simply Wall St - – Full articleDoes Asian Paints Limited's (NSE:ASIANPAINT) Past Performance Indicate A Stronger Future?
In this commentary, I will examine Asian Paints Limited's (NSE:ASIANPAINT) latest earnings update (30 June 2018) and compare these figures against its performance over the past couple of years, as well as how the rest of the chemicals industry performed. … Did ASIANPAINT's recent earnings growth beat the long-term trend and the industry. … ASIANPAINT's trailing twelve-month earnings (from 30 June 2018) of ₹21.02b has
Simply Wall St - – Full articleWho Really Owns Asian Paints Limited (NSE:ASIANPAINT)?
I am going to take a deep dive into Asian Paints Limited’s (NSE:ASIANPAINT) most recent ownership structure, not a frequent subject of discussion among individual investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … Therefore, it is beneficial for us to examine ASIANPAINT's ownership structure in more detail.
Simply Wall St - – Full articleAsian Paints Limited (NSE:ASIANPAINT): How Much Money Comes Back To Investors?
Asian Paints Limited (NSE:ASIANPAINT) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … I’ve analysed below, the health and outlook of Asian Paints’s cash flow, which will help you understand the stock from a cash standpoint. … Asian Paints’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure.
Simply Wall St - – Full articleAll You Need To Know About Asian Paints Limited's (NSE:ASIANPAINT) Financial Health
With a market capitalization of ₹1.35t, Asian Paints Limited (NSE:ASIANPAINT) is a large-cap stock, which is considered by most investors as a safe bet. … Common characteristics for these big stocks are their strong balance sheet and high liquidity, which means there's plenty of stocks available to the public for trading. … In times of low liquidity in the market, these firms won’t be left high and dry.
Simply Wall St - – Full articleWhat Should You Know About Asian Paints Limited's (NSE:ASIANPAINT) Capital Returns?
and looking to gauge the potential return on investment in Asian Paints Limited (NSE:ASIANPAINT). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided.
Simply Wall St - – Full articleHow Do Analysts See Asian Paints Limited (NSE:ASIANPAINT) Performing Over The Next Few Years?
Asian Paints Limited's (NSE:ASIANPAINT) most recent earnings update in March 2018a … revealed
Simply Wall St - – Full articleCompany Info
Description
Asian Paints Limited, together with its subsidiaries, manufactures, sells, and distributes paints and coatings for decorative and industrial use in India and internationally. The company operates in Paints and Home Improvement segments. It provides interior and exterior wall finishes, enamels, wood finishes, and metal finishes, as well as wall painting tools, such as brushes, rollers, accelerators, and mechanized tools. The company also offers wall covering and stickers, waterproofing solutions, and adhesives. In addition, it provides surfacing preparations; organic composite solvents and thinners; organic and inorganic chemical compounds; and phthalic anhydride and pentaerythritol, which are used in the paint manufacturing process. Further, the company offers kitchen components comprising hardware, shutters/cabinets, accessories, and appliances; and bath fitting products. It serves customers through a network of distributors, dealers, and retail stores. Asian Paints Limited was founded in 1942 and is headquartered in Mumbai, India.
Details
| Name: | Asian Paints Limited |
| ASIANPAINT | |
| Exchange: | NSEI |
| Founded: | 1942 |
| ₹1,266,141,082,800 | |
| 959,197,790 | |
| Website: | http://www.asianpaints.com |
| Address: |
Asian Paints Limited Asian Paints House, 6A, Shantinagar, Mumbai, Maharashtra, 400055, India |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NSEI | ASIANPAINT | Equity Shares | National Stock Exchange of India | IN | INR | 31. May 1995 | |
| BSE | 500820 | Equity Shares | Mumbai Stock Exchange | IN | INR | 31. May 1995 |
Number of employees
Current staff
Industry
| Specialty Chemicals | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/19 12:53 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/13 |
| Last earnings filing: | 2019/05/09 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2019/03/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
