Asian Paints Financial Statements

Name: Asian Paints Financials — historical data
Creator: StockeZee

For Mar 2026, Asian Paints reported revenue of ₹35,584 crore and net profit of ₹4,325 crore. Return on equity stands at 21.80%. Profit & loss, balance sheet and cash flow across 9 reported years are below.

Updated 31 Jul 2026Source: NSE & BSE company filingsNifty 50 constituent

Latest year revenue: ₹35,584 Cr
EBITDA: ₹6,696 Cr
Operating margin: 18.82%
Profit after tax: ₹4,325 Cr
Net margin: 12.16%
EPS: ₹45.09
Latest year: Mar 2026
Years reported: 9

Asian Paints profit & loss

Reported annual performance for Asian Paints, oldest to newest. Figures in ₹ crore unless a row states otherwise.

Asian Paints annual profit and loss statement. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue from Operations	17,262	19,350	20,211	21,713	29,101	34,489	35,495	33,906	35,584
Sales Growth YoY %	—	12.09%	4.45%	7.43%	34.03%	18.51%	2.92%	-4.48%	4.95%
Other Income	221	227	304	303	380	386	688	573	724
Total Income	17,483	19,577	20,516	22,016	29,481	34,875	36,183	34,478	36,307
Cost of Goods Sold (COGS)	9,691	11,342	11,383	12,097	18,301	21,157	20,090	19,516	20,002
Cost of Materials Consumed	8,585	10,357	10,092	10,317	16,255	17,331	15,868	15,794	15,384
Purchases of Stock-in-Trade	964	1,279	1,531	1,873	3,371	4,136	3,858	3,927	4,014
Changes in Inventories	142	-293	-239	-92	-1,325	-310	364	-205	604
Gross Profit	7,571	8,008	8,828	9,616	10,801	13,332	15,405	14,390	15,582
Gross Margin %	43.86%	41.38%	43.68%	44.29%	37.11%	38.66%	43.4%	42.44%	43.79%
Total Operating Expenses	4,373	4,483	4,666	4,760	5,997	7,072	7,820	8,384	8,886
Employee Benefit Expense	1,115	1,270	1,366	1,541	1,787	2,028	2,326	2,597	2,800
Other Expenses	3,258	3,213	3,300	3,219	4,210	5,044	5,493	5,786	6,086
EBITDA	3,198	3,525	4,162	4,856	4,804	6,260	7,585	6,006	6,696
OPM %	18.52%	18.21%	20.59%	22.36%	16.51%	18.15%	21.37%	17.71%	18.82%
Total Non-Operating Expenses	396	482	883	883	796	954	1,058	890	1,267
Depreciation & Amortisation	360	431	781	791	816	858	853	1,026	1,229
Finance Costs	35	51	102	92	95	144	205	227	195
Exceptional Items (Before Tax)	0	0	0	0	-116	-49	0	-363	-158
Profit Before Tax (PBT)	3,023	3,270	3,583	4,276	4,156	5,595	7,215	4,962	5,838
Tax Expense	1,041	1,099	855	1,098	1,103	1,494	1,790	1,393	1,609
Current Tax	1,041	943	950	1,122	1,164	1,511	1,785	1,376	1,550
Deferred Tax	-0	156	-95	-24	-61	-17	5	18	59
Effective Tax %	34.44%	33.6%	23.86%	25.67%	26.54%	26.69%	24.81%	28.08%	27.56%
Profit/Loss from Discontinued Operations	70	0	-5	0	0	0	0	0	0
Total Profit for Period	2,098	2,212	2,774	3,207	3,085	4,195	5,558	3,710	4,395
Less: Non-controlling Interests	59	52	69	67	54	89	97	42	69
Net Profit (Owner's PAT)	2,039	2,159	2,705	3,139	3,031	4,106	5,460	3,667	4,325
Net Profit Margin %	11.81%	11.16%	13.38%	14.46%	10.41%	11.91%	15.38%	10.82%	12.16%
PAT Growth YoY %	—	5.91%	25.27%	16.05%	-3.46%	35.5%	32.97%	-32.84%	17.95%
Earnings Per Share (EPS)	₹21.26	₹22.51	₹28.2	₹32.73	₹31.59	₹42.81	₹56.92	₹38.23	₹45.09
Diluted Shares Outstanding (Cr.)	96	96	96	96	96	96	96	96	96
Profit/Loss from Associates	46	41	51	29	32	94	133	141	166
Other Comprehensive Income (Net of Tax)	-35	-14	58	-6	-226	13	32	115	-27
Expenses	14,460	16,307	16,932	17,740	25,325	29,280	28,968	29,516	30,469
Material Cost %	49.74%	53.52%	49.93%	47.52%	55.86%	50.25%	44.71%	46.58%	43.23%
Employee Cost %	6.46%	6.56%	6.76%	7.1%	6.14%	5.88%	6.55%	7.66%	7.87%
Other Cost %	18.87%	16.6%	16.33%	14.83%	14.47%	14.63%	15.48%	17.07%	17.1%
Interest Coverage (x)	80.9	60.66	33.04	44.36	41.79	37.4	32.81	21.94	27.98

Asian Paints revenue and profit trend

Reported annual revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.

Asian Paints balance sheet

Assets, liabilities and shareholders' equity as reported, in Schedule III order. Figures in ₹ crore unless a row states otherwise.

Asian Paints annual balance sheet with assets, liabilities and equity. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Equity	9,883	10,534	13,229	14,199	16,446	19,424	20,059	22,015
Equity Share Capital	96	96	96	96	96	96	96	96
Reserves & Surplus	9,424	10,034	12,710	13,716	15,896	18,632	19,304	21,276
Equity Method Investments	407	457	484	515	782	583	608	656
Total Equity	9,883	10,534	13,229	14,199	16,446	19,424	20,059	22,015
Non-Current Liabilities	750	1,241	1,215	1,214	1,456	1,999	2,171	3,382
Long-term Borrowings	19	19	15	45	76	54	260	1,247
Deferred Tax Liabilities	568	444	416	349	335	352	405	403
Non-Current Provisions	156	181	215	218	231	223	258	274
Other Non-Current Liabilities	3	5	5	2	39	34	46	38
Non-Current Financial Liabilities	23	612	579	645	851	1,390	1,463	2,668
Current Liabilities	5,029	4,380	5,926	7,571	7,896	8,501	8,141	9,137
Short-term Borrowings	597	321	326	731	896	1,053	604	1,046
Trade Payables	2,394	2,137	3,379	4,164	3,635	3,831	3,848	3,863
Current Financial Liabilities	4,642	4,006	5,491	6,995	7,199	7,831	7,497	8,283
Other Current Financial Liabilities	1,651	1,548	1,786	2,100	2,667	2,947	3,045	3,373
Other Current Liabilities	164	132	230	376	459	484	451	458
Current Provisions	76	62	84	70	74	62	67	217
Current Tax Liabilities	146	180	121	130	164	123	126	180
Total Liabilities	5,779	5,621	7,140	8,785	9,352	10,500	10,312	12,520
Total Non-Current Assets	8,027	8,575	8,343	7,832	9,263	12,387	13,380	14,350
Property, Plant & Equipment (PPE)	5,256	5,685	5,322	5,090	5,355	6,302	8,631	9,165
Capital Work-in-Progress	210	140	183	426	1,020	2,698	1,254	1,849
Intangible Assets	274	267	234	186	187	425	369	256
Non-Current Investments	988	1,050	986	551	783	801	872	120
Loans – Non-Current	79	68	62	—	—	—	—	2
Other Non-Current Assets	232	318	221	305	524	526	523	525
Non-Current Financial Assets	1,300	1,371	1,583	1,040	1,148	1,410	1,758	1,665
Net Fixed Assets	5,740	6,093	5,739	5,703	6,562	9,426	10,255	11,270
Total Current Assets	7,619	7,566	12,013	15,144	16,535	17,537	16,992	20,185
Inventories	3,150	3,390	3,799	6,153	6,211	5,923	6,719	5,744
Trade Receivables	1,907	1,795	2,602	3,871	4,637	4,889	4,314	4,462
Cash & Cash Equivalents	276	564	346	622	523	829	445	673
Current Investments	1,175	512	3,267	2,181	2,697	3,203	3,245	6,286
Loans – Current	16	19	18	—	—	—	—	0
Current Financial Assets	4,068	3,891	7,677	8,450	9,771	10,828	9,499	13,644
Other Current Assets	401	286	537	541	554	786	774	797
Other Current Financial Assets	526	782	1,180	1,534	1,593	1,651	1,158	1,823
Assets Held for Sale	15	14	13	8	—	—	—	—
Net Working Capital	2,590	3,186	6,087	7,573	8,639	9,036	8,850	11,048
Additional Asset Fields	391	420	437	414	472	719	675	659
Def Tax Assets	28	17	14	26	19	23	16	16
Non Controlling Int	363	404	423	388	454	695	659	643
Total Assets	15,661	16,155	20,370	22,984	25,798	29,924	30,371	34,534
Total Borrowings	616	340	340	776	972	1,107	864	2,293
Net Debt	340	-224	-6	154	449	278	418	1,620
Debt to Equity (x)	0.06	0.03	0.03	0.05	0.06	0.06	0.04	0.1
Current Ratio (x)	1.52	1.73	2.03	2	2.09	2.06	2.09	2.21

Asian Paints cash flow statement

Cash generated and used across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.

Asian Paints annual cash flow statement across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Cash from Operating Activities	986	4,193	6,104	4,424	7,088
Profit Before Tax	4,156	5,595	7,215	4,962	5,838
Depreciation & Amortisation	816	858	853	1,026	1,229
Finance Costs	95	144	205	227	195
Working Capital Changes	-2,795	-772	10	-570	1,476
Tax Paid	-1,176	-1,494	-1,835	-1,396	-1,574
Net Cash from Investing Activities	-322	-1,275	-2,518	-874	-1,334
Purchase of PPE	-551	-1,446	-2,496	-1,830	-1,487
Sale of Fixed Assets	40	-120	-207	9	3
Interest Received	77	87	135	155	153
Net Cash from Financing Activities	-1,808	-2,140	-2,983	-3,753	-2,377
Proceeds from Borrowings	333	254	101	220	1,279
Repayment of Borrowings	-8	-16	-14	-428	-32
Interest Paid	-94	-142	-191	-203	-228
Dividend Paid	-1,763	-1,936	-2,551	-3,140	-2,425
Buyback / Redemption of Shares	-75	-36	1	-37	-31
Lease Liabilities Paid	-221	-256	-286	-325	-340
Net Change in Cash	-1,138	771	573	-270	3,383
Effect of Foreign Exchange Changes	5	-8	-31	-67	6
Free Cash Flow	436	2,748	3,608	2,594	5,601
CFO / PBT (x)	0.24	0.75	0.85	0.89	1.21

Asian Paints key ratios

Valuation, profitability, return, leverage and per-share measures computed from reported statements — not from adjusted or normalised earnings.

Asian Paints valuation, profitability, return and leverage ratios
Ratio	Category	Value
P/E (TTM)	Valuation	55.29
Forward P/E	Valuation	45.95
P/B	Valuation	12.33
PEG (TTM)	Valuation	34.41
EV / EBITDA (TTM)	Valuation	33.99
P/S (TTM)	Valuation	7.08
Operating margin	Profitability	18.8%
Net margin (TTM)	Profitability	12.18%
Return on equity	Return ratios	21.8%
Return on capital employed	Return ratios	26.3%
Return on assets	Return ratios	10.56%
Debt to equity	Leverage & liquidity	0.18
Beta	Leverage & liquidity	0.73
EPS (TTM)	Per share	₹49.65
Book value	Per share	₹222.81
Revenue / share (TTM)	Per share	₹370.49
Cash flow / share	Per share	₹73.94
Dividend yield	Shareholder returns	1%
Dividend payout (TTM)	Shareholder returns	106.66%

How this is calculated

Statements are as filed with the exchanges. Consolidated figures are shown where reported. Figures are in rupees crore unless the table states otherwise. Ratios are computed from the same reported statements, not from adjusted or normalised earnings.

Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.

Asian Paints: frequently asked questions

What is Asian Paints's annual revenue?

Asian Paints reported revenue of ₹35,584 crore in Mar 2026, up 4.9% on the previous financial year.

Is Asian Paints profitable?

Asian Paints reported a net profit of ₹4,325 crore in Mar 2026, up 17.9% on the previous financial year.

What is Asian Paints's EPS?

Asian Paints reported earnings per share of ₹45.09 for Mar 2026.

What is Asian Paints's operating margin?

Asian Paints's operating margin for Mar 2026 was 18.82%.

What is Asian Paints's return on equity?

Asian Paints's return on equity stands at 21.80%. ROE measures profit generated per rupee of shareholder equity.

How many years of Asian Paints financials are shown?

9 reported financial years are tabulated on this page, the most recent being Mar 2026.

Are these figures consolidated or standalone?

Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.

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Disclaimer

The data, ratios and commentary about Asian Paints Ltd (ASIANPAINT) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.