Fortune India 500 2025 edition
Rank#81- Total income
- ₹34,824 Cr
- Profit
- ₹3,667 Cr
Last year #73
Asian Paints Limited - manufacturing in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Active Listed - NSE: ASIANPAINT · BSE: 500820 Public Limited Company manufacturing Fortune India 500 · #81 India's Most Valuable · #26 Nifty 50
Market Cap
₹2,19,138 Cr
ASIANPAINT · NSE
Share Price
₹2,302.00
+0.76% today
Revenue
₹35,584 Cr
FY 2025-26 · +5.0% YoY
EBITDA
₹6,538 Cr
Margin 18.4%
Net Profit
₹4,444 Cr
FY 2025-26 · +13.2% YoY
P/E (TTM)
45.7x
P/B 10.4x
ROE
21.6%
ROCE 25.9%
Debt / Equity
0.15
Interest cover 3.7x
About Asian Paints Limited
Data last updated:
Asian Paints Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the paint and coatings segment of the manufacturing sector. It was incorporated on 24 October 1945 and has been in existence for over 81 years.
Asian Paints is ranked #81 on the Fortune India 500 (2025) and #26 among India's most valuable companies (2025). It is part of the Nifty 50, Sensex, Nifty 500 and BSE 500 indices. Its director Nehal Abhay Vakil is #342 among India's richest people (2026). Its director Ashish Ashwin Choksi and family are #478 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24220MH1945PLC004598. Its GSTIN is 27AAACA3622K1ZV (Maharashtra). The company holds 60 GST registrations, of which 54 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 500820 and NSE: ASIANPAINT.
The company has an authorised share capital of ₹1,400 Cr and a paid-up capital of ₹95.92 Cr. It was formerly known as Asian Oil & Paint Company (India) Private Limited and Asian Paints (India) Limited. It is led by directors including Amit Syngle (Managing Director) and Seshasayee Ramaswami.
Its last annual general meeting (AGM) was held on 26 June 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 6A & 6B Shantinagar, Mumbai, Maharashtra, India – 400055.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹35,584 Cr, a growth of 4.9% compared to the previous year. For the same year it recorded a net profit of ₹4,444.24 Cr (net margin 12.5%) and EBITDA of ₹6,538.31 Cr (EBITDA margin 18.4%). The net worth stands at ₹21,372 Cr (up 10.2% YoY). Total assets are valued at ₹26,369 Cr (up 16% YoY).
The company has about 9,462 employees on its provident fund (EPFO) records. Its group structure includes 8 subsidiaries and 2 joint ventures.
The company is associated with 3 brands: Beautiful Homes, Pure Fine Fabrics and Asian Paints. As per MCA filings, the company has open charges of ₹1,242 Cr and satisfied charges of ₹173.16 Cr on record. Court records list 2,107 cases involving the company, including 1,722 filed by the company and 385 filed against it; 1,002 cases are pending. The company has 74 deals on record (71 market trades, 3 secondary share transfers); the latest was in September 2026. The company has 21 MSME Form 1 returns on record between 2019 and 2024, listing 1,757 overdue payments to 302 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website asianpaints.com.
Company details
CIN L24220MH1945PLC004598
Registration Number 004598
Incorporation Date 24 October 1945
ROC Mumbai
Listing Status Listed - Listed on NSE (ASIANPAINT); Listed on BSE (500820)
Company Status Active
Date of Last AGM 26 June 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
Name history
Asian Paints has undergone 3 name changes throughout its history. The company was previously known as Asian Oil & Paint Company (India) Private Limited, Asian Paints (India) Limited, and Asian Oil & Paint Co. (India) Private Limited. The current legal name is Asian Paints Limited.
| Company Name | Status |
|---|---|
| Asian Paints Limited | Current |
| Asian Oil & Paint Company (India) Private Limited | Previous |
| Asian Paints (India) Limited | Previous |
| Asian Oil & Paint Co. (India) Private Limited | Previous |
Key People
Amit Syngle Managing Director Seshasayee Ramaswami Director Milind Shripad Sarwate Director Recognitions & Rankings of Asian Paints
India's Most Valuable Companies 2025 edition · Source: Hurun India
Rank#26- Valuation
- ₹2,34,480 Cr
2024 #26 2023 #12 2022 #14
India's Richest People 2026 edition · 3 directors · Source: Hurun India
- #342 Nehal Abhay Vakil ₹11,000 Cr
- #478 Ashish Ashwin Choksi & family ₹7,300 Cr
- #852 Amrita Amar Vakil ₹3,500 Cr
Stock market indices
Nifty 50 Sensex Nifty 500 BSE 500
Contact details
Asian Paints Limited's registered office is in Mumbai, Maharashtra. Its website is asianpaints.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered Address6A & 6B Shantinagar, Mumbai, Maharashtra, India – 400055
- IndustryManufacturing, Paint & Coatings
To see the full contact details of Asian Paints Limited, buy the company report.
Comprehensive company report
Asian Paints Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Asian Paints operates multiple associated brands including Beautiful Homes, Pure Fine Fabrics, and Asian Paints. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Interior design, home furnishings, and installation services in India. | beautifulhomes.com | |
| Industrial and decorative paints are manufactured along with related solutions. | asianpaints.com | |
| Home fabric retail and textile services in India. | purefinefabrics.com |
Business activity
The main business activity of Asian Paints is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Asian Paints Limited, buy the company report.
Financials of Asian Paints Limited
FY 2025-26 filings availableAsian Paints Limited reported revenue of ₹35,584 Cr (up 4.9% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹35,584 Cr
+4.9% YoY
EBITDA
₹6,538 Cr
+15.9% YoY
Profit After Tax
₹4,444 Cr
+13.1% YoY
Net Worth
₹21,372 Cr
+10.2% YoY
Total Assets
₹26,369 Cr
+16.0% YoY
Total Debt
₹3,929 Cr
+71.5% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 35,584 | 33,906 | 35,495 | 34,489 | 29,101 | 21,713 | 20,211 |
| Revenue growth | +5.0% | -4.5% | +2.9% | +18.5% | +34.0% | +7.4% | - |
| EBITDA | 6,538 | 5,643 | 7,585 | 6,211 | 4,688 | 4,856 | 4,157 |
| EBITDA margin | +18.4% | +16.6% | +21.4% | +18.0% | +16.1% | +22.4% | +20.6% |
| Profit before tax | 6,003 | 5,103 | 7,348 | 5,689 | 4,188 | 4,304 | 3,629 |
| Net profit | 4,444 | 3,928 | 5,459 | 4,134 | 3,082 | 3,126 | 2,695 |
| Net profit margin | +12.5% | +11.6% | +15.4% | +12.0% | +10.6% | +14.4% | +13.3% |
| EPS (₹) | 45.09 | 38.23 | 56.92 | 42.81 | 31.59 | 32.73 | 28.20 |
| Balance sheet | |||||||
| Total assets | 26,369 | 22,733 | 22,396 | 18,695 | 16,009 | 14,545 | 11,841 |
| Net worth | 21,372 | 19,400 | 18,728 | 15,992 | 13,812 | 12,806 | 10,130 |
| Total debt | 3,929 | 2,290 | 2,474 | 1,933 | 1,587 | 1,093 | 1,118 |
| Cash & bank | 1,074 | 782 | 1,084 | 844 | 864 | 611 | 783 |
| Net working capital | 6,137 | 6,513 | 7,157 | 7,070 | 6,345 | 3,351 | 3,197 |
| Cash flow | |||||||
| Cash from operations | 7,088 | 4,424 | 6,104 | 4,193 | 986 | 3,683 | 3,038 |
| Cash from investing | (1,328) | (941) | (2,548) | (1,282) | (317) | (541) | (518) |
| Cash from financing | (2,377) | (3,753) | (2,982) | (2,140) | (1,808) | (650) | (2,871) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10,542 | 9,247 | 8,867 | 8,531 | 8,939 | 8,359 | 8,549 | 8,028 |
| Revenue growth (YoY) | +17.9% | +10.6% | +3.7% | +6.3% | -0.4% | - | - | - |
| Other income | 279 | 197 | 227 | 237 | 229 | 123 | 193 | 205 |
| EBITDA | 2,169 | 1,787 | 1,623 | 1,503 | 1,625 | 1,253 | 1,637 | 1,059 |
| EBITDA margin | +20.6% | +19.4% | +18.3% | +17.7% | +18.2% | +15.0% | +19.2% | +13.2% |
| Depreciation | 304 | 310 | 313 | 305 | 301 | 301 | 256 | 242 |
| Interest | 47.83 | 59.10 | 47.94 | 43.87 | 44.50 | 52.79 | 55.84 | 63.01 |
| Profit before tax | 2,096 | 1,614 | 1,489 | 1,392 | 1,509 | 1,022 | 1,518 | 959 |
| Tax | 536 | 429 | 415 | 373 | 392 | 321 | 390 | 265 |
| Net profit | 1,559 | 1,185 | 1,074 | 1,018 | 1,117 | 701 | 1,128 | 694 |
| EPS (₹) | 16.05 | 12.22 | 11.05 | 10.36 | 11.47 | 7.22 | 11.58 | 7.24 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 30,769 | 29,553 | 31,227 | 30,078 | 25,189 | 18,517 | 17,194 |
| Revenue growth | +4.1% | -5.4% | +3.8% | +19.4% | +36.0% | +7.7% | - |
| EBITDA | 6,014 | 5,177 | 7,044 | 5,820 | 4,534 | 4,493 | 3,826 |
| EBITDA margin | +19.6% | +17.5% | +22.6% | +19.4% | +18.0% | +24.3% | +22.3% |
| Profit before tax | 5,734 | 4,902 | 6,999 | 5,490 | 4,194 | 4,090 | 3,413 |
| Net profit | 4,371 | 3,863 | 5,314 | 4,092 | 3,145 | 3,038 | 2,671 |
| Net profit margin | +14.2% | +13.1% | +17.0% | +13.6% | +12.5% | +16.4% | +15.5% |
| EPS (₹) | 44.25 | 37.41 | 55.41 | 42.75 | 32.68 | 31.82 | 27.67 |
| Balance sheet | |||||||
| Total assets | 23,467 | 20,465 | 19,798 | 16,723 | 14,235 | 12,905 | 10,258 |
| Net worth | 20,782 | 18,988 | 18,289 | 15,586 | 13,349 | 12,089 | 9,453 |
| Total debt | 2,369 | 1,199 | 1,280 | 892 | 714 | 648 | 663 |
| Cash & bank | 446 | 204 | 350 | 363 | 309 | 135 | 376 |
| Net working capital | 4,701 | 5,202 | 5,556 | 5,650 | 5,115 | 2,358 | 2,347 |
| Cash flow | |||||||
| Cash from operations | 6,761 | 4,124 | 5,757 | 4,222 | 1,260 | 3,459 | 2,407 |
| Cash from investing | (1,190) | (746) | (2,270) | (1,397) | (340) | (436) | (775) |
| Cash from financing | (2,144) | (3,416) | (2,948) | (2,185) | (1,989) | (583) | (2,095) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9,183 | 7,920 | 7,624 | 7,356 | 7,868 | 7,192 | 7,418 | 6,967 |
| Revenue growth (YoY) | +16.7% | +10.1% | +2.8% | +5.6% | -1.3% | - | - | - |
| Other income | 260 | 195 | 257 | 232 | 248 | 138 | 227 | 181 |
| Total expenses | 7,172 | 6,250 | 6,162 | 5,997 | 6,348 | 6,047 | 5,909 | 6,043 |
| EBITDA | 2,012 | 1,670 | 1,463 | 1,359 | 1,520 | 1,145 | 1,509 | 924 |
| EBITDA margin | +22.0% | +21.2% | +19.2% | +18.5% | +19.4% | +16.0% | +20.4% | +13.3% |
| Depreciation | 263 | 267 | 275 | 273 | 269 | 269 | 224 | 210 |
| Interest | 27.25 | 39.39 | 28.03 | 29.68 | 30.25 | 34.04 | 35.29 | 41.70 |
| Profit before tax | 1,982 | 1,559 | 1,417 | 1,288 | 1,468 | 980 | 1,476 | 853 |
| Tax | 504 | 398 | 390 | 332 | 369 | 285 | 372 | 255 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 29 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10,542 | 9,247 | 8,867 | 8,531 | 8,939 | 8,359 | 8,549 | 8,028 |
| Revenue growth (YoY) | +17.9% | +10.6% | +3.7% | +6.3% | -0.4% | - | - | - |
| Other income | 279 | 197 | 227 | 237 | 229 | 123 | 193 | 205 |
| EBITDA | 2,169 | 1,787 | 1,623 | 1,503 | 1,625 | 1,253 | 1,637 | 1,059 |
| EBITDA margin | +20.6% | +19.4% | +18.3% | +17.7% | +18.2% | +15.0% | +19.2% | +13.2% |
| Depreciation | 304 | 310 | 313 | 305 | 301 | 301 | 256 | 242 |
| Interest | 47.83 | 59.10 | 47.94 | 43.87 | 44.50 | 52.79 | 55.84 | 63.01 |
| Profit before tax | 2,096 | 1,614 | 1,489 | 1,392 | 1,509 | 1,022 | 1,518 | 959 |
| Tax | 536 | 429 | 415 | 373 | 392 | 321 | 390 | 265 |
| Net profit | 1,559 | 1,185 | 1,074 | 1,018 | 1,117 | 701 | 1,128 | 694 |
| EPS (₹) | 16.05 | 12.22 | 11.05 | 10.36 | 11.47 | 7.22 | 11.58 | 7.24 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 35,584 | 33,906 | 35,495 | 34,489 | 29,101 | 21,713 | 20,211 |
| Revenue growth | +5.0% | -4.5% | +2.9% | +18.5% | +34.0% | +7.4% | - |
| Other income | 889 | 713 | 821 | 480 | 412 | 332 | 355 |
| Total expenses | 29,045 | 28,263 | 27,910 | 28,278 | 24,413 | 16,857 | 16,054 |
| Employee cost | 2,800 | 2,597 | 2,326 | 2,028 | 1,787 | 1,541 | 1,366 |
| EBITDA | 6,538 | 5,643 | 7,585 | 6,211 | 4,688 | 4,856 | 4,157 |
| EBITDA margin | +18.4% | +16.6% | +21.4% | +18.0% | +16.1% | +22.4% | +20.6% |
| Depreciation | 1,229 | 1,026 | 853 | 858 | 816 | 791 | 780 |
| Interest | 195 | 227 | 205 | 144 | 95.41 | 91.63 | 102 |
| Profit before tax | 6,003 | 5,103 | 7,348 | 5,689 | 4,188 | 4,304 | 3,629 |
| Tax | 1,609 | 1,393 | 1,790 | 1,494 | 1,103 | 1,098 | 855 |
| Net profit | 4,444 | 3,928 | 5,459 | 4,134 | 3,082 | 3,126 | 2,695 |
| Net profit margin | +12.5% | +11.6% | +15.4% | +12.0% | +10.6% | +14.4% | +13.3% |
| EPS (₹) | 45.09 | 38.23 | 56.92 | 42.81 | 31.59 | 32.73 | 28.20 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 |
| Reserves & surplus | 21,276 | 19,304 | 18,632 | 15,896 | 13,716 | 12,710 | 10,034 |
| Shareholders' funds (net worth) | 21,372 | 19,400 | 18,728 | 15,992 | 13,812 | 12,806 | 10,130 |
| Minority interest | 643 | 659 | 695 | 454 | 388 | 423 | 404 |
| Secured loans | 1,603 | 424 | 195 | 181 | 210 | 86.74 | 111 |
| Unsecured loans | 2,326 | 1,866 | 2,279 | 1,752 | 1,377 | 1,006 | 1,007 |
| Total debt | 3,929 | 2,290 | 2,474 | 1,933 | 1,587 | 1,093 | 1,118 |
| Total liabilities | 26,369 | 22,733 | 22,396 | 18,695 | 16,009 | 14,545 | 11,841 |
| Assets | |||||||
| Gross block | 15,316 | 14,099 | 11,622 | 9,676 | 8,538 | 8,392 | 8,282 |
| Net block | 9,640 | 9,220 | 7,147 | 5,770 | 5,519 | 5,859 | 6,272 |
| Capital work in progress | 1,849 | 1,254 | 2,698 | 1,020 | 426 | 183 | 140 |
| Investments | 7,062 | 4,725 | 4,588 | 4,262 | 3,248 | 4,737 | 2,019 |
| Inventories | 5,744 | 6,719 | 5,923 | 6,211 | 6,153 | 3,799 | 3,390 |
| Sundry debtors | 4,462 | 4,314 | 4,889 | 4,637 | 3,871 | 2,602 | 1,795 |
| Cash & bank balances | 1,074 | 782 | 1,084 | 844 | 864 | 611 | 783 |
| Loans & advances | 2,620 | 1,932 | 2,437 | 2,147 | 2,083 | 1,748 | 1,100 |
| Total current assets | 13,899 | 13,747 | 14,334 | 13,838 | 12,972 | 8,759 | 7,068 |
| Total current liabilities | 7,762 | 7,234 | 7,176 | 6,768 | 6,627 | 5,409 | 3,870 |
| Net working capital | 6,137 | 6,513 | 7,157 | 7,070 | 6,345 | 3,351 | 3,197 |
| Total assets | 26,369 | 22,733 | 22,396 | 18,695 | 16,009 | 14,545 | 11,841 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 3,357 | 3,627 | 3,054 | 2,283 | 3,421 | 929 | 1,280 |
| Net cash from operating activities | 7,088 | 4,424 | 6,104 | 4,193 | 986 | 3,683 | 3,038 |
| Net cash from investing activities | (1,328) | (941) | (2,548) | (1,282) | (317) | (541) | (518) |
| Net cash from financing activities | (2,377) | (3,753) | (2,982) | (2,140) | (1,808) | (650) | (2,871) |
| Net change in cash | 3,383 | (270) | 573 | 771 | (1,138) | 2,492 | (351) |
| Closing cash | 1,074 | 782 | 1,084 | 844 | 864 | 611 | 783 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +5.0% | -4.5% | +2.9% | +18.5% | +34.0% | +7.4% | - |
| EBITDA growth | +15.9% | -25.6% | +22.1% | +32.5% | -3.5% | +16.8% | - |
| PBT growth | +17.6% | -30.6% | +29.2% | +35.9% | -2.7% | +18.6% | +9.8% |
| Net income growth | +13.2% | -28.0% | +32.1% | +34.1% | -1.4% | +16.0% | - |
| Revenue CAGR (3Y) | +1.1% | +5.2% | +17.8% | +19.5% | +14.8% | +8.9% | +5.3% |
| EBITDA CAGR (3Y) | +1.7% | +6.4% | +16.0% | +14.3% | +7.6% | +14.9% | +11.6% |
| Profitability & leverage | |||||||
| Net income margin | +12.4% | +10.9% | +15.7% | +12.2% | +10.6% | +14.8% | +13.7% |
| Return on capital employed | +25.9% | +24.4% | +37.8% | +34.5% | +28.8% | +34.4% | +33.3% |
| Return on net worth | +21.6% | +19.5% | +32.0% | +28.2% | +23.2% | +28.0% | +28.3% |
| Debt / equity | 0.15 | 0.12 | 0.13 | 0.12 | 0.10 | 0.10 | 0.12 |
| Long-term debt / equity | 0.10 | 0.07 | 0.06 | 0.05 | 0.05 | 0.05 | 0.06 |
| Interest cover | 3.68 | 4.92 | 3.05 | 2.70 | 2.46 | 2.25 | 3.03 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.42 | 2.64 | 3.33 | 3.79 | 3.44 | 2.60 | 2.46 |
| Inventory turnover | 5.71 | 5.36 | 5.85 | 5.58 | 5.85 | 6.04 | 6.18 |
| Debtors turnover | 8.11 | 7.37 | 7.45 | 8.11 | 8.99 | 9.88 | 10.92 |
| EPS (₹) | 45.09 | 38.23 | 56.92 | 42.81 | 31.59 | 32.73 | 28.20 |
| Dividend per share (₹) | 27.50 | 24.80 | 33.30 | 25.65 | 19.15 | 17.85 | 12.00 |
| Book value per share (₹) | 222.81 | 202.25 | 195.25 | 166.72 | 143.99 | 133.51 | 105.61 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9,183 | 7,920 | 7,624 | 7,356 | 7,868 | 7,192 | 7,418 | 6,967 |
| Revenue growth (YoY) | +16.7% | +10.1% | +2.8% | +5.6% | -1.3% | - | - | - |
| Other income | 260 | 195 | 257 | 232 | 248 | 138 | 227 | 181 |
| Total expenses | 7,172 | 6,250 | 6,162 | 5,997 | 6,348 | 6,047 | 5,909 | 6,043 |
| EBITDA | 2,012 | 1,670 | 1,463 | 1,359 | 1,520 | 1,145 | 1,509 | 924 |
| EBITDA margin | +22.0% | +21.2% | +19.2% | +18.5% | +19.4% | +16.0% | +20.4% | +13.3% |
| Depreciation | 263 | 267 | 275 | 273 | 269 | 269 | 224 | 210 |
| Interest | 27.25 | 39.39 | 28.03 | 29.68 | 30.25 | 34.04 | 35.29 | 41.70 |
| Profit before tax | 1,982 | 1,559 | 1,417 | 1,288 | 1,468 | 980 | 1,476 | 853 |
| Tax | 504 | 398 | 390 | 332 | 369 | 285 | 372 | 255 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 30,769 | 29,553 | 31,227 | 30,078 | 25,189 | 18,517 | 17,194 |
| Revenue growth | +4.1% | -5.4% | +3.8% | +19.4% | +36.0% | +7.7% | - |
| Other income | 933 | 770 | 822 | 518 | 452 | 366 | 358 |
| Total expenses | 24,756 | 24,376 | 24,183 | 24,258 | 20,654 | 14,024 | 13,368 |
| Employee cost | 2,177 | 2,014 | 1,816 | 1,514 | 1,310 | 1,129 | 985 |
| EBITDA | 6,014 | 5,177 | 7,044 | 5,820 | 4,534 | 4,493 | 3,826 |
| EBITDA margin | +19.6% | +17.5% | +22.6% | +19.4% | +18.0% | +24.3% | +22.3% |
| Depreciation | 1,086 | 902 | 743 | 756 | 722 | 697 | 690 |
| Interest | 127 | 144 | 124 | 93.06 | 70.25 | 71.66 | 80.33 |
| Profit before tax | 5,734 | 4,902 | 6,999 | 5,490 | 4,194 | 4,090 | 3,413 |
| Tax | 1,489 | 1,314 | 1,684 | 1,389 | 1,059 | 1,038 | 759 |
| Net profit | 4,371 | 3,863 | 5,314 | 4,092 | 3,145 | 3,038 | 2,671 |
| Net profit margin | +14.2% | +13.1% | +17.0% | +13.6% | +12.5% | +16.4% | +15.5% |
| EPS (₹) | 44.25 | 37.41 | 55.41 | 42.75 | 32.68 | 31.82 | 27.67 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 | 95.92 |
| Reserves & surplus | 20,686 | 18,892 | 18,193 | 15,490 | 13,253 | 11,993 | 9,357 |
| Shareholders' funds (net worth) | 20,782 | 18,988 | 18,289 | 15,586 | 13,349 | 12,089 | 9,453 |
| Secured loans | 849 | 39.21 | 53.44 | 49.36 | 16.16 | 22.20 | 24.40 |
| Unsecured loans | 1,520 | 1,160 | 1,227 | 843 | 698 | 626 | 639 |
| Total debt | 2,369 | 1,199 | 1,280 | 892 | 714 | 648 | 663 |
| Total liabilities | 23,467 | 20,465 | 19,798 | 16,723 | 14,235 | 12,905 | 10,258 |
| Assets | |||||||
| Gross block | 12,551 | 12,195 | 9,456 | 8,078 | 7,554 | 6,988 | 6,850 |
| Net block | 7,742 | 8,001 | 5,494 | 4,643 | 4,554 | 4,763 | 4,961 |
| Capital work in progress | 1,754 | 872 | 2,561 | 978 | 225 | 119 | 108 |
| Investments | 7,510 | 5,296 | 5,471 | 4,912 | 3,811 | 5,179 | 2,658 |
| Inventories | 4,825 | 5,848 | 5,156 | 5,322 | 5,278 | 3,125 | 2,827 |
| Sundry debtors | 3,228 | 3,198 | 3,700 | 3,463 | 2,916 | 1,810 | 1,109 |
| Cash & bank balances | 446 | 204 | 350 | 363 | 309 | 135 | 376 |
| Loans & advances | 2,596 | 1,925 | 2,400 | 2,131 | 2,082 | 1,699 | 1,081 |
| Total current assets | 11,095 | 11,176 | 11,606 | 11,278 | 10,584 | 6,768 | 5,393 |
| Total current liabilities | 6,394 | 5,974 | 6,050 | 5,629 | 5,468 | 4,410 | 3,047 |
| Net working capital | 4,701 | 5,202 | 5,556 | 5,650 | 5,115 | 2,358 | 2,347 |
| Total assets | 23,467 | 20,465 | 19,798 | 16,723 | 14,235 | 12,905 | 10,258 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 3,130 | 3,168 | 2,618 | 2,065 | 3,134 | 694 | 1,156 |
| Net cash from operating activities | 6,761 | 4,124 | 5,757 | 4,222 | 1,260 | 3,459 | 2,407 |
| Net cash from investing activities | (1,190) | (746) | (2,270) | (1,397) | (340) | (436) | (775) |
| Net cash from financing activities | (2,144) | (3,416) | (2,948) | (2,185) | (1,989) | (583) | (2,095) |
| Net change in cash | 3,426 | (38.06) | 540 | 640 | (1,069) | 2,440 | (462) |
| Closing cash | 446 | 204 | 350 | 363 | 309 | 135 | 376 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +4.1% | -5.4% | +3.8% | +19.4% | +36.0% | +7.7% | - |
| EBITDA growth | +16.2% | -26.5% | +21.0% | +28.4% | +0.9% | +17.4% | - |
| PBT growth | +17.0% | -30.0% | +27.5% | +30.9% | +2.6% | +19.8% | +7.7% |
| Net income growth | +13.2% | -27.3% | +29.9% | +30.1% | +3.5% | +13.8% | - |
| Revenue CAGR (3Y) | +0.8% | +5.5% | +19.0% | +20.5% | +15.4% | +9.3% | +5.9% |
| EBITDA CAGR (3Y) | +1.1% | +4.5% | +16.2% | +15.0% | +8.9% | +15.4% | +12.7% |
| Profitability & leverage | |||||||
| Net income margin | +13.8% | +12.1% | +17.0% | +13.6% | +12.4% | +16.5% | +15.4% |
| Return on capital employed | +26.7% | +25.1% | +39.0% | +36.1% | +31.4% | +35.9% | +35.2% |
| Return on net worth | +21.3% | +19.3% | +31.4% | +28.3% | +24.7% | +28.3% | +29.0% |
| Debt / equity | 0.09 | 0.07 | 0.06 | 0.06 | 0.05 | 0.06 | 0.07 |
| Long-term debt / equity | 0.07 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 |
| Interest cover | 2.58 | 3.36 | 1.97 | 1.84 | 1.84 | 1.89 | 2.56 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.49 | 2.73 | 3.56 | 3.85 | 3.46 | 2.68 | 2.56 |
| Inventory turnover | 5.77 | 5.37 | 5.96 | 5.68 | 6.00 | 6.22 | 6.35 |
| Debtors turnover | 9.58 | 8.57 | 8.72 | 9.43 | 10.66 | 12.69 | 14.61 |
| EPS (₹) | 44.25 | 37.41 | 55.41 | 42.75 | 32.68 | 31.82 | 27.67 |
| Dividend per share (₹) | 27.50 | 24.80 | 33.30 | 25.65 | 19.15 | 17.85 | 12.00 |
| Book value per share (₹) | 216.66 | 197.95 | 190.67 | 162.48 | 139.17 | 126.03 | 98.55 |
To see the full year-wise statements and ratios of Asian Paints Limited, buy the company report.
Board of directors of Asian Paints Limited
Asian Paints has 13 current directors and 24 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Seshasayee Ramaswami | Director | 23 Jan 2017 | 9 Years 9 Months | Current |
| Milind Shripad Sarwate Also directs: Increate Value Advisors LLP, Increate Social Value Advisors & Resourcers LLP, Ceat Limited and 5 more | Director | 21 Oct 2021 | 5 Years 0 Months | Current |
| Nehal Vakil Abhay Also directs: Lambodar Investments and Trading Company Limited, Stack Pack Limited, Asteroids Trading and Investments Private Limited and 4 more | Director | 01 Mar 2022 | 4 Years 7 Months | Current |
| Ashish Ashwin Choksi | Director | 01 Apr 2025 | 1 Years 6 Months | Current |
| Amrita Amar Vakil | Director | 14 May 2014 | 12 Years 5 Months | Current |
| Malav Ashwin Dani | Director | 26 Jun 2014 | 12 Years 4 Months | Current |
Showing 6 of 13 current directors. View all directors
Auditor
Asian Paints Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2024 | 117366W/W-100018 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 52.60%, foreign institutional investors hold 13.30%, domestic institutional investors hold 20.80% and retail and other public shareholders hold 13.30%.
Sep 2026
QUARTER
52.60% Promoters
20.80% DII (Domestic Institutional)
13.30% FII (Foreign Institutional)
13.30% Retail & Others
Promoter holding - history
Now 52.60% · Sep 2026High 52.60% · Dec 2025Low 52.60% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 52.60% | 52.60% | 52.60% | 52.60% |
| Public | 47.40% | 47.40% | 47.40% | 47.40% |
Charges & borrowings
Open charges
₹1,242 Cr
Satisfied charges
₹173.16 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Feb 2026 | 101244688 | Others | ₹1,242 Cr | Open | |
| 15 Mar 2002 | 80066019 | Pradeshiya Industrial Corporation of U.P.Ltd | ₹38.16 Cr | Satisfied | |
| 29 Dec 1995 | 80066018 | State Bank of India | ₹135 Cr | Satisfied |
To see the full charge records of Asian Paints Limited, buy the company report.
Total charge records: 3 View all charges
Deals & funding
Asian Paints Limited has 74 deals on record (71 market trades, 3 secondary share transfers); the latest was in September 2026.
Total deals
74
Market trades
71
Secondary share transfers
3
Deals on record (5 of 74)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2026 | Market trade | ₹40.02 Cr | Buyer: Smiti Holding and Trading Company Private Limited Seller: an individual |
| Feb 2026 | Market trade | ₹78.33 Cr | Buyer: Upnishad Holdings Private Limited Seller: Smiti Holding and Trading Company Private Limited |
| Jun 2025 | Market trade | ₹1,875.95 Cr | Buyer: Icici Prudential Mutual Fund Seller: Siddhant Commercials Private Limited |
| Sep 2024 | Market trade | ₹39.85 Cr | Buyer: Upnishad Holdings Private Limited Seller: Hiren Holdings Private Limited |
| Jul 2024 | Market trade | ₹24.98 Cr | Buyer: Upnishad Holdings Private Limited Seller: Hiren Holdings Private Limited |
To see the full deal history of Asian Paints Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Asian Paints Limited has 2,107 court cases on record: 1,722 filed by Asian Paints, 385 filed against it. 1,002 cases are pending and 1,105 are disposed.
Total cases
2,107
Filed by the company
1,722
Filed against the company
385
Pending
1,002
Disposed
1,105
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 1,349 | 141 | 636 |
| District courts | 710 | 210 | 355 |
| Supreme Court | 33 | 21 | 7 |
| NCLAT | 13 | 13 | 4 |
| NCLT | 2 | 0 | 0 |
Cases on record (5 of 2,107)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, South, Delhi | Commercial suit | Filed by the company against M/S Staarglo Digital Technologies LLP (Through Its Director Manish Dutta) | Pending |
| District court, Gautam Buddha Nagar, Uttar Pradesh | Interim or miscellaneous application | Filed against the company by an individual | Pending |
| High Court for State of Telangana | Writ petition | Filed against the company | Pending |
| District court, GANDHINAGAR, Gujarat | Civil suit | Filed against the company by an individual | Pending |
| District court, Sangareddy, Telangana | Civil suit | Filed against the company by an individual | Pending |
To see the full case history of Asian Paints Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Asian Paints Limited was last rated by Crisil on 30 Jun 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 30 Jun 2020 |
To see the full credit ratings and regulatory alerts of Asian Paints Limited, buy the company report.
MSME payment delays
Asian Paints Limited has 21 MSME Form 1 returns on record between 2019 and 2024, listing 1,757 overdue payments to 302 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 302)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Iora Hotels Private Limited | |||
| Maruti Bitumen Private Limited | |||
| an individual supplier | |||
| Bathco Ceramic LLP | |||
| Bharat Motor Parcel Service |
To see the full MSME payment records of Asian Paints Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Asian Paints has 8 subsidiary companies and 2 joint ventures. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
8
Subsidiary companies
2
Joint ventures
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Harind Chemicals and Pharmaceuticals Private Limited | U24110MH1995PTC089205 | |
| Asian Paints Industrial Coatings Limited | U24220MH2001PLC133523 | |
| Asian Paints (Polymers) Private Limited | U24222MH2023PTC397471 | |
| Sleek International Private Limited | U31300MH1993PTC070859 | |
| Weatherseal Fenestration Private Limited | U36990KA2022PTC158753 | |
| Maxbhumi Developers Limited | U45400MH2007PLC175925 |
To see the full group structure of Asian Paints Limited, buy the company report.
Employees & EPFO
Asian Paints Limited has a workforce of 9,462 employees on its EPFO records as of Apr 07, 2024, across 11 active EPFO establishments.
Employee count
9,462
Active EPFO establishments
11
Employee growth
14.77%
GST
Asian Paints has 60 GST registrations: 54 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
60
Active
54
Cancelled / inactive
6
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACA3622K1ZV | Maharashtra | Active | 01 Jul 2017 |
| 27AAACA3622K2ZU | Maharashtra | Active | 13 Jul 2017 |
| 27AAACA3622K1C6 | Maharashtra | Active | 23 Nov 2020 |
| 27AAACA3622K3ZT | Maharashtra | Active | 24 Nov 2021 |
To see the full GST registrations and return filing status of Asian Paints Limited, buy the company report.
Recent activity
Asian Paints Limited has 60 board changes on record since 1992: 37 appointments and 23 cessations. The latest: Sudhir Ganesh Sitapati was appointed as Additional Director on 29 May 2026.
Appointed
Sudhir Ganesh Sitapati was appointed as Additional Director.
Filing
Asian Paints Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Charges
A charge with Others amounted to Rs. 1,242.00 Cr with Charge ID 101244688 was registered on 20 Feb 2026.
AGM
Asian Paints Limited last Annual general meeting of members was held on 26 Jun 2025 as per latest MCA records.
Appointed
Ashish Ashwin Choksi was appointed as Director.
Ceased
Jigish Shailesh Choksi ceased to be Director.
Appointed
Varun Berry was appointed as Director.
Appointed
Gopichand Katragadda was appointed as Director.
Ceased
Pallavi Shardul Shroff ceased to be Director.
Ceased
Suresh Narayanan ceased to be Director.
Ceased
Vibha Paul Rishi ceased to be Director.
Appointed
Soumitra Bhattacharya was appointed as Director.
58 earlier events are in the company report.
News
ASIANPAINT: Q2 CONS NET PROFIT 10.7B RUPEES VS 10B (YOY); EST 11.2B
ASIANPAINT: Q2 REVENUE 99.8B RUPEES VS 85B (YOY); EST 97.3B
ASIANPAINT: Q2 EBITDA 15.6B RUPEES VS 15B (YOY), EST 16.4B; Q2 EBITDA MARGIN 15.6% VS 17.62% (YOY), EST 16.9%
ASIAN PAINTS: Q2 FY27 DECORATIVE VOLUME-GROWTH AT 6.4% VS FY27 GUIDANCE OF 8–10%
ASIAN PAINTS: Q2 VOLUME-GROWTH AT 6.8% VS EST 8-10%
ASIAN PAINTS: CO DECLARES INTERIM DIVIDEND OF ₹5.75 PER SHARE
From our blog
Frequently asked questions
Asian Paints is an active public limited company based in Mumbai, Maharashtra, India. The company works in paint and coatings, within the manufacturing industry. It was incorporated on 24 October 1945 (81+ years old) and is registered under CIN L24220MH1945PLC004598. Listed on BSE: 500820 and NSE: ASIANPAINT.
Asian Paints reported revenue of ₹35,584 Cr for FY 2025-26 (up 4.9% YoY) based on consolidated financials.
Asian Paints has 13 current directors:
- Amit Syngle - Managing Director
- Seshasayee Ramaswami - Director
- Milind Shripad Sarwate - Director
- Nehal Vakil Abhay - Director
- Ashish Ashwin Choksi - Director
- Amrita Amar Vakil - Director
- Malav Ashwin Dani - Director
- Manish Mahendra Choksi - Director
- Varun Berry - Director
- Ireena Vittal - Director
- Soumitra Bhattacharya - Director
- Gopichand Katragadda - Director
- Sudhir Ganesh Sitapati - Additional Director
The latest financial statements of Asian Paints on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 26 June 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Asian Paints is 27AAACA3622K1ZV, registered in Maharashtra. The company has 60 GST registrations in all, of which 54 are active and 6 are cancelled or inactive. Other active GSTINs include 27AAACA3622K2ZU (Maharashtra), 27AAACA3622K1C6 (Maharashtra), 27AAACA3622K3ZT (Maharashtra).
The CIN (Corporate Identification Number) of Asian Paints is L24220MH1945PLC004598. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Asian Paints is a listed company as per MCA records. Its shares are listed on both BSE (code: 500820) and NSE (symbol: ASIANPAINT).
Asian Paints has 2,107 court cases on record: 1,722 filed by the company and 385 filed against it. 1,002 are pending. Most are in the high courts.
Asian Paints was incorporated on 24 October 1945, making it 81+ years old. It is registered with the Registrar of Companies, Mumbai.
Asian Paints has 74 deals on record (71 market trades, 3 secondary share transfers); the latest was in September 2026.
Sudhir Ganesh Sitapati was appointed as Additional Director on 29 May 2026. Ashish Ashwin Choksi was appointed as Director on 01 Apr 2025. Jigish Shailesh Choksi ceased to be Director on 31 Mar 2025. Asian Paints has 60 board changes on record in total.