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Asian Paints Ltd

Updated on September 11, 2019

Stock/Share Code - ASIANPAINT

Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing related services.(Source : 201903 Annual Report Page No: 159)

Below is the details of ASIANPAINT Asian Paints Ltd

Market Cap₹155,026 Cr.
Current Price ₹1,530.9 as on 17 Sep 19
52 Week High / Low Price₹1,622.5 / ₹1,118
Face Value₹1
Stock P/E69.11
Book Value₹92.66
Dividend Yield0.65 %
ROCE38.21 %
ROE25.48 %
Sales Growth (3yrs)11.48 %
SectorPaints/Varnish
IndustryPaints / Varnishes
Listed onBSE  AND  NSE
Company WebsiteCompany Website
Pros: Company is virtually debt free. Company has a good return on equity (ROE) track record: 3 Years ROE 26.11% Company has been maintaining a healthy dividend payout of 48.69%
Cons: Stock is trading at 17.44 times its book value The company has delivered a poor growth of 10.53% over past five years.

Asian Paints Ltd Price Chart

Asian Paints Ltd Price Chart

Asian Paints Ltd Peer Comparison in Paints/Varnish

S.No. Name CMP Rs. P/E Mar Cap Rs.Cr. Div Yld % NP Qtr Rs.Cr. Qtr Profit Var % Qtr Sales Var % Sales Qtr Rs.Cr. ROCE %
1. Asian Paints 69.11 ₹155,025.55 Cr. 0.65 ₹652.45 Cr. 20.46 18.18 4380.16 38.21
2. Asian Paints 68.73 ₹155,025.55 Cr. 0.65 ₹655.44 Cr. 17.70 16.86 5130.63 35.13
3. Berger Paints ₹365.05 66.64 ₹35,849.25 Cr. 0.51 ₹176.41 Cr. 31.77 15.75 1716.53 28.20
4. Kansai Nerolac ₹463.25 52.21 ₹24,822.64 Cr. 0.56 ₹147.9 Cr. 5.76 6.36 1463.47 20.96
5. Akzo Nobel ₹1,706.4 40.45 ₹7,836.12 Cr. 1.40 ₹57.14 Cr. 31.33 0.56 719.69 24.13
6. Shalimar Paints ₹76.45 ₹400.19 Cr. 0.00 -₹5.35 Cr. 63.75 65.33 85.06 -12.34
7. Hardcast.& Waud ₹13.53 Cr. 0.00 -₹0.15 Cr. -15.94 0.58 0.49
8. Yug Decor ₹173.6 ₹8.94 Cr. 0.00 Cr. -4.27

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Asian Paints Ltd Fundamentals

Quarterly Results

Quarterly reports are issued by companies every three months. Most companies have a financial year-end of Mar. 31 and quarters that end on June 30, Sept. 30, Dec. 31 and March 31.

Standalone Figures in Rs. Crores

Sep 2016Dec 2016Mar 2017Jun 2017Sep 2017Dec 2017Mar 2018Jun 2018Sep 2018Dec 2018Mar 2019Jun 2019
Sales3,1023,2413,3203,2033,6023,5873,7753,7063,9144,5364,2354,380
YOY Sales Growth %9.44%0.7%9.42%7.34%16.12%10.69%13.71%15.72%8.66%26.44%12.18%18.18%
Expenses2,4712,5702,6812,6062,8822,7692,9902,8363,1873,5503,4153,290
Material Cost %54.35%55.58%55.52%56.24%57.77%56.48%55.32%55.38%59.19%57.95%56.97%55.2%
Employee Cost %6.21%5.55%5.46%6.43%5.61%5.29%5.12%5.8%5.5%5.03%5.74%5.65%
Operating Profit6316716395977208187858717279868201,090
OPM %20%21%19%19%20%23%21%23%19%22%19%25%
Other Income855285866468596972667286
Interest456455716792319
Depreciation7375747677788011683103157170
Profit before tax639644645603702803758808710940712986
Tax %32%34%32%34%33%34%35%33%32%33%33%34%
Net Profit435426441401473529492542481631478652
EPS in Rs4.544.444.604.184.945.515.125.655.026.584.986.80
NotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotesNotes

Profit & Loss

The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit" by increasing revenue, reducing costs or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019TTM
Sales3,2594,0704,8916,0447,5958,5399,93611,11011,83012,64714,16816,39217,066
Sales Growth %21.81%24.89%20.16%23.59%25.66%12.42%16.36%11.82%6.48%6.9%12.02%15.7%%
Expenses2,6993,5103,8764,8866,2436,9888,1669,1239,4159,97311,24213,08213,443
Material Cost %49.58%53.53%47.99%50.41%53.29%51.44%50.64%57.96%55.66%45.05%48.05%49.06%%
Manufacturing Cost %13.42%13.35%12.73%12.74%11.63%11.91%11.96%2.95%2.79%11.88%10.78%10.47%%
Employee Cost %5.8%5.72%5.26%4.97%4.5%4.74%4.86%5.69%5.64%5.87%5.58%5.51%%
Other Cost %14.02%13.63%13.26%12.72%12.78%13.75%14.72%15.51%15.5%16.05%14.93%14.77%%
Operating Profit5605611,0151,1581,3521,5511,7701,9872,4152,6742,9263,3103,623
OPM %17%14%21%19%18%18%18%18%20%21%21%20%21%
Other Income605816975141126174201249300275279296
Interest13161916313429312722243257
Depreciation4457619499127212223235295311382513
Profit before tax5635461,1051,1221,3631,5161,7031,9342,4032,6572,8663,1753,349
Tax %33%34%30%31%30%31%31%31%32%32%34%33%
Net Profit3753627747759581,0501,1691,3271,6231,8021,8952,1352,243
EPS in Rs3.623.487.627.569.3410.1711.3312.6616.4818.7819.7522.2623.38
Dividend Payout %43%46%33%40%40%42%43%44%44%55%44%47%

Compounded Sales Growth

  • 10 Years:: 14.95%
  • 5 Years:: 10.53%
  • 3 Years:: 11.48%
  • TTM:: 16.32%

Compounded Profit Growth

  • 10 Years:: 19.32%
  • 5 Years:: 13.39%
  • 3 Years:: 9.68%
  • TTM:: 10.19%

Return on Equity

  • 10 Years:: 31.23%
  • 5 Years:: 27.96%
  • 3 Years:: 26.11%
  • Last Year:: 25.48%

Balance Sheet

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. It is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It is used alongside other important financial statements such as the income statement and statement of cash flows in conducting fundamental analysis or calculating financial ratios.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Share Capital969696969696969696969696
Equity Capital95.9295.9295.9295.9295.9295.9295.9295.9295.9295.9295.9295.92
Reserves8339991,4611,8792,3922,9263,5054,1345,8306,9997,7028,792
Borrowings9575697416854484036391115
Other Liabilities9991,0261,5311,8342,1652,5993,1023,0542,8183,2743,8324,302
Trade Payables375.73358.51571.71931.891103.351250.41518.371365.761410.617122056.132217.52
Total Liabilities2,0232,1953,1573,8824,8215,6766,7517,3248,77910,40811,64213,205
Fixed Assets4296237071,0571,0092,1022,0121,9652,6292,6052,5694,671
Gross Block937.891116.931194.391611.221659.512862.312981.093102.772863.13131.123401.035880.93
Accumulated Depreciation469.41466.82473.65543.78640.12752.52951.541123.78234.11526.44832.51210.39
CWIP11089381406035338140932201,392179
Investments4232357045485424651,6711,8942,7972,9142,5772,964
Other Assets1,0601,2481,3652,2382,6673,0573,0293,3253,2614,6705,1045,391
Inventories538.97546.71763.141071.761264.421480.791665.051802.181610.122194.092178.432585.1
Trade receivables251.9311.02331.43355.56500.24633.88712.36729.55759.06994.631138.21244.95
Cash Equivalents41.35128.2628.6509.01500.97551.57104.1261.84160.78205.94120.84167.52
Loans n Advances228.2262.46241.68203.64221.14299.35446.64504.66589.11770.471087.44961.9
Other Assets etc00097.78180.5291.09101.24226.62141.77505.19579.14431.8
Total Assets2,0232,1953,1573,8824,8215,6766,7517,3248,77910,40811,64213,205

Cash Flows

Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company’s ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow.

Standalone Figures in Rs. Crores

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Cash from Operating Activity4573258487438811,0811,3711,1441,9801,4202,1362,184
Profit from operations584.59591.331055.641189.541407.771599.141838.812076.732576.652809.223081.493446.76
Working Capital Changes47.92-91.7185.76-92.64-127.76-114.7-23.85-343.98163.98-545.7540.34-348.78
Taxes paid-175.22-174.41-293.18-353.65-399.53-403.32-444.07-589.15-760.96-843.43-985.74-913.84
Cash from Investing Activity-332-214-242-410-592-440-618-292-863-584-1,371-815
Fixed Assets Purchased-258.28-238.35-349.81-144.3-740.67-585.49-163.01-336.28-686.72-611.48-1358.32-1067.26
Fixed Assets Sold1.577.68.962.940.474.834.81.4912.221.819.3715
Investments purchased-202.71-2.7-50.01-311.09-305.39-200.47-1016.09-242.54-282.33-70-153.39-325
Investments sold115.180.1118.330.45394.29305.22461.37245.6232.55223.84195.68485.14
Cash from Financing Activity-127-222-239-320-297-591-560-728-704-956-1,239-896
Proceeds from Borrowings5.074.063.573.65109.6810.251.4219.985.97.8900
Repayment of Borrowings-36.04-24.25-9.52-5.77-8.11-124.37-7.84-48.01-7.48-40.88-1.98-1.42
Interest Paid-8.28-10.4-14.57-16.12-31.38-31.44-24.98-26.69-19.76-22.58-20.16-25.79
Dividends Paid-87.27-191.02-218.28-301.3-367.25-445.09-528.25-672.95-748.66-913.58-1184.83-1022.47
Net Cash Flow-1-11136713-851194124413-120-474473

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Ratios

Mar 2008Mar 2009Mar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
ROCE %61%51%74%62%58%53%50%49%47%41%39%38%
Debtor Days282825212427262423292928
Inventory Turnover6.707.507.476.596.506.226.326.416.936.656.486.88

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