Asian Paints Limited

NSEI:ASIANPAINT Stock Report

Market Cap: ₹2.5t

Asian Paints Future Growth

Future criteria checks 1/6

Asian Paints is forecast to grow earnings and revenue by 13.2% and 7.6% per annum respectively. EPS is expected to grow by 13.4% per annum. Return on equity is forecast to be 19.8% in 3 years.

Key information

13.2%

Earnings growth rate

13.37%

EPS growth rate

Chemicals earnings growth19.4%
Revenue growth rate7.6%
Future return on equity19.79%
Analyst coverage

Good

Last updated22 May 2026

Recent future growth updates

Analysis Article • Jan 30

Asian Paints Limited Just Missed Earnings - But Analysts Have Updated Their Models

It's been a sad week for Asian Paints Limited ( NSE:ASIANPAINT ), who've watched their investment drop 11% to ₹2,416 in...
Analysis Article • Aug 01

Asian Paints Limited (NSE:ASIANPAINT) First-Quarter Results Just Came Out: Here's What Analysts Are Forecasting For This Year

Last week saw the newest quarterly earnings release from Asian Paints Limited ( NSE:ASIANPAINT ), an important...

Recent updates

Narrative Update • May 09

ASIANPAINT: Board Review And Dividend Decision Will Guide Fairly Valued Outlook

Analysts have made a very small adjustment to the Asian Paints fair value estimate, with the price target moving from ₹2,656.00 to ₹2,654.74. This reflects updated assumptions on discount rate, revenue growth, profit margin and future P/E.
Narrative Update • Apr 23

ASIANPAINT: Updated Assumptions Will Shape Balanced Outlook For Fairly Valued Shares

Analysts have trimmed their price target on Asian Paints to ₹2,656 from ₹2,689, citing updated assumptions that now reflect slightly lower revenue growth expectations, a marginally higher discount rate, a modest improvement in profit margin, and a small adjustment to the future P/E multiple. Valuation Changes Fair Value: Price target trimmed slightly to ₹2,656 from ₹2,689.
Narrative Update • Apr 09

ASIANPAINT: Refined Discount Rate And P/E Assumptions Will Support Constructive Near-Term Outlook

Analysts now place Asian Paints' price target at around ₹2,689, down from about ₹2,731, reflecting updated assumptions on revenue growth, profit margins and future P/E expectations. Valuation Changes Fair Value: Trimmed from ₹2,731.49 to ₹2,689.37, a small reduction in the implied upside.
Narrative Update • Mar 25

ASIANPAINT: Refined Discount Rate And P/E Assumptions Will Support Constructive Near-Term Outlook

Analysts have trimmed their price target on Asian Paints slightly to about ₹2,731 from roughly ₹2,752, reflecting refreshed inputs for fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value: Trimmed slightly from ₹2,752.20 to ₹2,731.49, a reduction of about 0.8%.
Narrative Update • Mar 10

ASIANPAINT: January Board Meeting Will Underpin A Constructive Near-Term Outlook

Analysts have trimmed their price target on Asian Paints slightly, with fair value moving from about ₹2,760.77 to ₹2,752.20. This reflects small tweaks to assumptions on discount rate, profit margin, revenue growth and future P/E multiples.
Narrative Update • Feb 23

ASIANPAINT: Upcoming Board Review Will Support A Positive Near-Term Outlook

Analysts have trimmed their fair value estimate for Asian Paints slightly, reducing the projected price target from about ₹2,765 to roughly ₹2,761. This reflects marginal tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions.
Narrative Update • Feb 08

ASIANPAINT: Interim Dividend And Earnings Review Will Support A Positive Near-Term Outlook

Analysts have trimmed their fair value estimate for Asian Paints from ₹2,808.89 to ₹2,765.57 as they recalibrate assumptions for revenue growth, profit margins and the future P/E multiple in light of recent updates. What's in the News A board meeting is scheduled for 27 January 2026 to consider the audited standalone financial results for the quarter and nine months ending 31 December 2025.
Analysis Article • Jan 30

Asian Paints Limited Just Missed Earnings - But Analysts Have Updated Their Models

It's been a sad week for Asian Paints Limited ( NSE:ASIANPAINT ), who've watched their investment drop 11% to ₹2,416 in...
Narrative Update • Jan 24

ASIANPAINT: Interim Dividend And Steady Assumptions Will Shape A Balanced Near-Term Outlook

Analysts have inched up their fair value estimate for Asian Paints to ₹2,808.89 from ₹2,803.17, reflecting small tweaks to assumptions around the discount rate, revenue growth, profit margin and future P/E that collectively support a slightly higher price target. What's in the News A board meeting is scheduled for 27 Jan 2026 to review and approve audited standalone financial results for the quarter and nine months ended 31 Dec 2025.
Narrative Update • Jan 10

ASIANPAINT: Dividend Payouts And Stable Assumptions Will Shape A Balanced Near-Term View

Analysts have maintained their fair value estimate for Asian Paints at ₹2,803.17 per share. They cited only slight adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions, which did not materially change their overall price target view.
Narrative Update • Dec 26

ASIANPAINT: Dividend Timelines And Margin Outlook Will Guide A Steady Near-Term View

Analysts have nudged their price target on Asian Paints modestly higher to reflect a slightly improved profit margin outlook and resilient long term earnings visibility, despite only marginal changes in the discount rate, revenue growth assumptions, and future valuation multiples. What's in the News Board meeting scheduled on January 27, 2026, to approve audited standalone and unaudited consolidated financial results for the quarter and nine months ended December 31, 2025, and to discuss other business matters (company filing).
Analysis Article • Dec 22

Is Asian Paints (NSE:ASIANPAINT) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Narrative Update • Dec 11

ASIANPAINT: Dividend Plans And Earnings Will Shape A Balanced Near-Term Outlook

Analysts have modestly raised their fair value estimate for Asian Paints to ₹2,803 from ₹2,746, citing a slightly lower discount rate, broadly stable long term growth and margin assumptions, and a marginally higher future P E multiple. What's in the News The Board of Directors approved an interim dividend of INR 4.50 per equity share of face value INR 1 for the financial year ending 31 March 2026, with a record date of 18 November 2025 and payment on or after 27 November 2025 (company filing).
Narrative Update • Nov 27

ASIANPAINT: Upcoming Dividend Payment And Financial Results Are Set To Guide Outlook

Analysts have raised their price target for Asian Paints from ₹2,463.51 to ₹2,746.46, citing improved projections for revenue growth and profitability margins. What's in the News The Board of Directors of Asian Paints Limited has approved an interim dividend payment of INR 4.50 per equity share for the financial year ending 31 March 2026.
Narrative Update • Nov 11

ASIANPAINT: Upcoming Board Meeting And Dividend Consideration Will Shape Outlook

Narrative Update on Asian Paints Analysts have raised their fair value estimate for Asian Paints from ₹2,431.49 to ₹2,463.51. This change reflects slight adjustments in growth expectations and risk assumptions.
Analysis Article • Nov 05

Why You Should Care About Asian Paints' (NSE:ASIANPAINT) Strong Returns On Capital

There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a...
Analysis Article • Oct 15

Investor Optimism Abounds Asian Paints Limited (NSE:ASIANPAINT) But Growth Is Lacking

Asian Paints Limited's ( NSE:ASIANPAINT ) price-to-earnings (or "P/E") ratio of 61.8x might make it look like a strong...
Narrative Update • Sep 04

India Urbanization And Affordable Housing Will Open New Opportunities

With no significant changes in either Future P/E or consensus revenue growth forecasts, the analyst fair value estimate for Asian Paints remains effectively unchanged at ₹2431. What's in the News PPG Industries and Asian Paints extended their joint venture agreements in India for 15 years, continuing collaboration in coatings across various sectors; each company retains management control of respective JV entities.
Analysis Article • Aug 01

Asian Paints Limited (NSE:ASIANPAINT) First-Quarter Results Just Came Out: Here's What Analysts Are Forecasting For This Year

Last week saw the newest quarterly earnings release from Asian Paints Limited ( NSE:ASIANPAINT ), an important...
Analysis Article • Jul 26

The Returns On Capital At Asian Paints (NSE:ASIANPAINT) Don't Inspire Confidence

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll...
Analysis Article • Jul 08

Does Asian Paints (NSE:ASIANPAINT) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jun 20

Shareholders Will Probably Hold Off On Increasing Asian Paints Limited's (NSE:ASIANPAINT) CEO Compensation For The Time Being

Key Insights Asian Paints' Annual General Meeting to take place on 26th of June Salary of ₹54.6m is part of CEO Amit...
Analysis Article • May 25

Asian Paints' (NSE:ASIANPAINT) Dividend Will Be ₹20.55

The board of Asian Paints Limited ( NSE:ASIANPAINT ) has announced that it will pay a dividend on the 26th of July...
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New Narrative • Nov 24

Inspiring Product Innovation And Global Expansion Fuel Growth Amidst Market Challenges

Expansion in retail and services, along with product innovation, aims to increase revenue and improve customer engagement.

Earnings and Revenue Growth Forecasts

NSEI:ASIANPAINT - Analysts future estimates and past financials data (INR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/2029451,47254,21237,780N/A2
3/31/2028415,50354,52746,860N/A29
3/31/2027384,84948,19040,387N/A31
3/31/2026351,77143,50441,114N/A31
12/31/2025346,49538,454N/AN/AN/A
9/30/2025343,32038,96044,25959,857N/A
6/30/2025338,28235,970N/AN/AN/A
3/31/2025338,59436,67226,18644,240N/A
12/31/2024342,20342,318N/AN/AN/A
9/30/2024347,73945,69126,42846,734N/A
6/30/2024352,27050,798N/AN/AN/A
3/31/2024354,37554,60239,04661,036N/A
12/31/2023354,90854,377N/AN/AN/A
9/30/2023350,24550,62642,41462,079N/A
6/30/2023350,03546,399N/AN/AN/A
3/31/2023344,30141,06529,20141,934N/A
12/31/2022334,35737,227N/AN/AN/A
9/30/2022333,26236,65821,92329,019N/A
6/30/2022319,64634,790N/AN/AN/A
3/31/2022289,81930,3064,4839,865N/A
12/31/2021276,50830,323N/AN/AN/A
9/30/2021259,12032,54915,10219,087N/A
6/30/2021241,66334,893N/AN/AN/A
3/31/2021215,03631,39334,01536,834N/A
12/31/2020195,54227,491N/AN/AN/A
9/30/2020181,86022,75122,43625,850N/A
6/30/2020178,86522,711N/AN/AN/A
3/31/2020200,68527,10126,34630,382N/A
12/31/2019205,12827,207N/AN/AN/A
9/30/2019203,55625,929N/A24,776N/A
6/30/2019199,26122,581N/AN/AN/A
3/31/2019190,84521,617N/A24,695N/A
12/31/2018186,29821,674N/AN/AN/A
9/30/2018176,01220,864N/AN/AN/A
6/30/2018172,22521,021N/AN/AN/A
3/31/2018166,47519,689N/A21,134N/A
12/31/2017163,27519,725N/AN/AN/A
9/30/2017159,24118,692N/AN/AN/A
6/30/2017153,68418,312N/AN/AN/A
3/31/2017149,11919,136N/A15,273N/A
12/31/2016161,23918,770N/AN/AN/A
9/30/2016160,19518,798N/AN/AN/A
6/30/2016156,93318,076N/AN/AN/A
3/31/2016141,24517,452N/A22,430N/A
12/31/2015149,64716,584N/AN/AN/A
9/30/2015144,64615,633N/AN/AN/A
6/30/2015143,20715,116N/AN/AN/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASIANPAINT's forecast earnings growth (13.2% per year) is above the savings rate (6.9%).

Earnings vs Market: ASIANPAINT's earnings (13.2% per year) are forecast to grow slower than the Indian market (16.3% per year).

High Growth Earnings: ASIANPAINT's earnings are forecast to grow, but not significantly.

Revenue vs Market: ASIANPAINT's revenue (7.6% per year) is forecast to grow slower than the Indian market (10.8% per year).

High Growth Revenue: ASIANPAINT's revenue (7.6% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ASIANPAINT's Return on Equity is forecast to be low in 3 years time (19.8%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/23 12:26
End of Day Share Price 2026/05/22 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Asian Paints Limited is covered by 69 analysts. 31 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Aradhana Jain360 ONE Capital Market Private Limited
Roshan Nair360 ONE Capital Market Private Limited
null null360 ONE Capital Market Private Limited