Asian Paints Limited

NSEI:ASIANPAINT Stock Report

Market Cap: ₹2.2t

Asian Paints Valuation

Is ASIANPAINT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ASIANPAINT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
₹343.76
Fair Value
554.5% overvalued intrinsic discount
37
Number of Analysts

Below Fair Value: ASIANPAINT (₹2249.85) is trading above our estimate of fair value (₹343.76)

Significantly Below Fair Value: ASIANPAINT is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ASIANPAINT?

Key metric: As ASIANPAINT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ASIANPAINT. This is calculated by dividing ASIANPAINT's market cap by their current earnings.
What is ASIANPAINT's PE Ratio?
PE Ratio47.2x
Earnings₹45.69b
Market Cap₹2.16t

Price to Earnings Ratio vs Peers

How does ASIANPAINT's PE Ratio compare to its peers?

The above table shows the PE ratio for ASIANPAINT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average64.1x
FLUOROCHEM Gujarat Fluorochemicals
96.3x34.7%₹394.6b
500710 Akzo Nobel India
39.3x10.5%₹170.9b
524200 Vinati Organics
46.1x20.0%₹170.3b
532504 Navin Fluorine International
75x32.1%₹193.7b
ASIANPAINT Asian Paints
47.2x8.5%₹2.2t

Price-To-Earnings vs Peers: ASIANPAINT is good value based on its Price-To-Earnings Ratio (47.2x) compared to the peer average (64.1x).

Price to Earnings Ratio vs Industry

How does ASIANPAINT's PE Ratio compare vs other companies in the IN Chemicals Industry?

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ZUARI Zuari Agro Chemicals
4.6xn/aUS$95.96m
NAGAFERT Nagarjuna Fertilizers and Chemicals
0.2xn/aUS$59.86m
UNIVPHOTO Universus Photo Imagings
2.5xn/aUS$24.03m
526773 Pressure Sensitive Systems (India)
0.6xn/aUS$7.07m
ASIANPAINT 47.2xIndustry Avg. 28.4xNo. of Companies42PE020406080100+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ASIANPAINT is expensive based on its Price-To-Earnings Ratio (47.2x) compared to the Indian Chemicals industry average (28.4x).

Price to Earnings Ratio vs Fair Ratio

What is ASIANPAINT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ASIANPAINT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio47.2x
Fair PE Ratio26.8x

Price-To-Earnings vs Fair Ratio: ASIANPAINT is expensive based on its Price-To-Earnings Ratio (47.2x) compared to the estimated Fair Price-To-Earnings Ratio (26.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ASIANPAINT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹2,249.85
₹2,628.41
+16.8%
13.0%₹3,650.00₹2,080.00n/a37
Jan ’26₹2,304.65
₹2,669.84
+15.8%
14.4%₹3,750.00₹2,080.00n/a37
Dec ’25₹2,479.60
₹2,672.54
+7.8%
14.4%₹3,750.00₹2,080.00n/a37
Nov ’25₹2,939.85
₹2,961.74
+0.7%
13.7%₹3,880.00₹2,100.00n/a38
Oct ’25₹3,277.35
₹2,957.66
-9.8%
13.7%₹3,880.00₹2,100.00n/a38
Sep ’25₹3,126.80
₹2,912.68
-6.8%
12.8%₹3,650.00₹2,100.00n/a38
Aug ’25₹3,099.35
₹2,912.68
-6.0%
12.8%₹3,650.00₹2,100.00n/a38
Jul ’25₹2,927.80
₹2,947.29
+0.7%
12.2%₹3,800.00₹2,200.00n/a38
Jun ’25₹2,881.20
₹2,934.97
+1.9%
12.4%₹3,800.00₹2,200.00n/a38
May ’25₹2,875.90
₹3,218.57
+11.9%
13.5%₹4,000.00₹2,410.00n/a37
Apr ’25₹2,871.00
₹3,257.19
+13.5%
13.6%₹4,020.00₹2,425.00n/a36
Mar ’25₹2,831.75
₹3,268.31
+15.4%
13.2%₹4,020.00₹2,425.00n/a36
Feb ’25₹2,929.35
₹3,321.97
+13.4%
11.5%₹4,020.00₹2,500.00n/a36
Jan ’25₹3,396.10
₹3,241.34
-4.6%
11.8%₹4,020.00₹2,500.00₹2,304.6535
Dec ’24₹3,173.40
₹3,243.03
+2.2%
11.5%₹4,000.00₹2,500.00₹2,479.6036
Nov ’24₹2,934.55
₹3,238.86
+10.4%
11.3%₹4,000.00₹2,500.00₹2,939.8536
Oct ’24₹3,161.05
₹3,374.82
+6.8%
12.3%₹4,045.00₹2,500.00₹3,277.3534
Sep ’24₹3,259.55
₹3,384.56
+3.8%
12.0%₹4,045.00₹2,500.00₹3,126.8036
Aug ’24₹3,342.95
₹3,359.19
+0.5%
12.1%₹4,045.00₹2,500.00₹3,099.3537
Jul ’24₹3,362.05
₹3,221.00
-4.2%
11.0%₹3,880.00₹2,500.00₹2,927.8036
Jun ’24₹3,240.70
₹3,204.33
-1.1%
11.4%₹3,880.00₹2,500.00₹2,881.2036
May ’24₹2,902.35
₹3,063.74
+5.6%
11.6%₹3,615.00₹2,400.00₹2,875.9035
Apr ’24₹2,761.65
₹3,091.89
+12.0%
11.5%₹3,800.00₹2,500.00₹2,871.0035
Mar ’24₹2,840.90
₹3,132.47
+10.3%
11.4%₹3,800.00₹2,516.00₹2,831.7538
Feb ’24₹2,743.75
₹3,139.13
+14.4%
11.1%₹3,800.00₹2,516.00₹2,929.3539
Jan ’24₹3,087.90
₹3,351.65
+8.5%
10.1%₹3,822.00₹2,530.00₹3,396.1037
Analyst Price Target
Consensus Narrative from 37 Analysts
₹2.63k
Fair Value
14.4% undervalued intrinsic discount
37
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/30 04:04
End of Day Share Price 2025/01/30 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

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 here.

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 .

Analyst Sources

Asian Paints Limited is covered by 74 analysts. 36 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Videesha ShethAmbit Capital
Nitin BhasinAmbit Capital
null nullAnand Rathi Shares and Stock Brokers Limited