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ASIANPAINT - Fundamental Analysis: Financial Health & Valuation

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Rating: 4

Last Updated Time : 19 Mar 26, 07:09 pm

Fundamental Rating: 4.0

Stock Code ASIANPAINT Market Cap 2,17,014 Cr. Current Price 2,263 ₹ High / Low 2,986 ₹
Stock P/E 54.0 Book Value 199 ₹ Dividend Yield 1.10 % ROCE 27.3 %
ROE 20.7 % Face Value 1.00 ₹ DMA 50 2,430 ₹ DMA 200 2,530 ₹
Chg in FII Hold 1.14 % Chg in DII Hold -0.42 % PAT Qtr 1,146 Cr. PAT Prev Qtr 956 Cr.
RSI 39.5 MACD -68.2 Volume 8,99,653 Avg Vol 1Wk 11,00,582
Low price 2,163 ₹ High price 2,986 ₹ PEG Ratio 7.64 Debt to equity 0.08
52w Index 12.2 % Qtr Profit Var 3.80 % EPS 39.4 ₹ Industry PE 32.2

📊 Financials

  • Revenue & Profitability: PAT rose from ₹956 Cr. to ₹1,146 Cr., showing steady growth (+3.8%). EPS at ₹39.4 reflects strong earnings capacity.
  • Margins & Returns: ROCE at 27.3% and ROE at 20.7% are excellent, highlighting strong efficiency and profitability.
  • Debt & Liquidity: Debt-to-equity ratio of 0.08 indicates very low leverage, ensuring financial resilience.
  • Cash Flow: Dividend yield of 1.10% provides moderate shareholder returns.

💹 Valuation

  • P/E Ratio: 54.0 vs Industry PE of 32.2 — trading at a premium valuation.
  • P/B Ratio: Current price ₹2,263 vs Book Value ₹199 — ~11.4x book value, expensive relative to assets.
  • PEG Ratio: 7.64 — suggests stretched valuation relative to growth.
  • Intrinsic Value: Current price is above fair value, offering limited margin of safety.

🏢 Business Model & Competitive Advantage

  • Operates in paints and coatings with strong brand leadership and wide distribution network.
  • High ROCE and ROE reflect operational excellence and competitive strength.
  • Premium pricing power and brand loyalty provide long-term resilience.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between ₹2,200 – ₹2,250, near support levels.
  • Long-Term Holding: Strong fundamentals and brand leadership make it a good candidate for long-term holding, though valuations are stretched. Accumulate on dips.

✅ Positive

  • Excellent ROCE (27.3%) and ROE (20.7%) highlight superior efficiency.
  • Debt-to-equity ratio of 0.08 ensures financial stability.
  • Quarterly PAT growth (+3.8%) highlights earnings consistency.
  • FII holdings increased by 1.14%, showing foreign investor confidence.

⚠️ Limitation

  • High P/E ratio (54.0) compared to industry average (32.2).
  • PEG ratio of 7.64 indicates stretched valuation relative to growth.
  • Dividend yield of 1.10% is modest.

📉 Company Negative News

  • DII holdings declined by 0.42%, showing reduced domestic institutional confidence.
  • RSI at 39.5 and MACD negative (-68.2) reflect bearish technical signals.

📈 Company Positive News

  • Quarterly PAT growth highlights strong operational performance.
  • FII holdings increased significantly, showing foreign investor confidence.
  • Strong brand loyalty supports long-term resilience.

🏭 Industry

  • Paints and coatings sector benefits from housing, infrastructure, and consumer demand.
  • Industry PE at 32.2 is lower than company’s valuation, highlighting premium pricing for ASIANPAINT.

🔎 Conclusion

ASIANPAINT demonstrates strong fundamentals with excellent efficiency, low debt, and consistent earnings growth. However, valuations are stretched, trading at a premium compared to industry peers. Best strategy: accumulate cautiously near ₹2,200–₹2,250 and hold for long-term gains, leveraging brand leadership and industry growth.

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