{"id":14563,"date":"2026-06-01T06:14:22","date_gmt":"2026-06-01T06:14:22","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?p=14563"},"modified":"2026-06-01T06:14:25","modified_gmt":"2026-06-01T06:14:25","slug":"asian-paints-q4-results-share","status":"publish","type":"post","link":"https:\/\/lemonn.co.in\/blog\/market-updates\/asian-paints-q4-results-share\/","title":{"rendered":"Asian Paints gains after Q4 beat as Street debates outlook"},"content":{"rendered":"
\"Asian<\/figure>\n\n\n

Asian Paints<\/a><\/strong> shares climbed in early trade on Monday after the paints major reported a 69%<\/strong> year-on-year jump in Q4 FY26 consolidated net profit to \u20b91,172 crore<\/strong> and a margin expansion to 19.3%<\/strong>, even as analysts remained divided on competitive risks and demand visibility. The stock traded around \u20b92,732<\/strong> in the morning session, up about 2.3%<\/strong> from the previous close, and has delivered a 12.4%<\/strong> return over three months despite muted longer term performance.<\/p>\n\n\n\n

Market overview and share performance<\/h2>\n\n\n\n
Statistic<\/strong><\/th>Value<\/strong><\/th>Context<\/strong><\/th><\/tr><\/thead>
Current price<\/strong><\/td>\u20b92,731.80 (around 10:45 am, 1 June 2026)<\/td>Up 2.26%<\/strong> intraday, according to live market data.<\/td><\/tr>
Previous close<\/strong><\/td>\u20b92,671.60<\/td>Stock ended 0.6%<\/strong> higher on Friday at \u20b92,688 on BSE.<\/td><\/tr>
52-week trend<\/strong><\/td>1-year return 18.26%<\/strong><\/td>Outperformed recent months despite 3-year return of -17.56%<\/strong>.<\/td><\/tr>
3-month return<\/strong><\/td>12.43%<\/strong><\/td>Supported by Q4 earnings-led re-rating.<\/td><\/tr>
6-month return<\/strong><\/td>-6.83%<\/td>Reflects earlier pressure from competition and costs.<\/td><\/tr>
Year-to-date move<\/strong><\/td>-2.5%<\/td>Despite around 10%<\/strong> recovery in the last month.<\/td><\/tr>
Weekly move<\/strong><\/td>1.2%<\/strong><\/td>Indicates improving sentiment post-results.<\/td><\/tr>
Market capitalisation<\/strong><\/td>\u20b92.56 lakh crore (approx.)<\/td>Based on latest traded price.<\/td><\/tr>
P\/E ratio<\/a><\/strong><\/td>59.25<\/td>Reflects premium valuation versus broader market.<\/td><\/tr>
EPS<\/strong><\/td>\u20b945.09<\/td>Trailing twelve-month earnings per share.<\/td><\/tr>
Six-month beta<\/strong><\/td>0.72<\/td>Lower volatility than the broader market.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    \n
  • Asian Paints<\/strong> hit an intraday high of \u20b92,778<\/strong> on Q4 results day, up about 4%<\/strong>.<\/li>\n\n\n\n
  • Trading volume in the previous session was 5.06 crore<\/strong> shares, indicating strong participation.<\/li>\n<\/ul>\n\n\n\n

    Q4 FY26 results and full-year performance<\/h2>\n\n\n\n
    Metric<\/strong><\/th>Q4 FY26<\/strong><\/th>Q4 FY25<\/strong><\/th>Change \/ Comment<\/strong><\/th><\/tr><\/thead>
    Consolidated net profit<\/strong><\/td>\u20b91,172 crore<\/strong><\/td>\u20b9692 crore<\/td>Up 69%<\/strong> YoY, driven by better margins.<\/td><\/tr>
    Revenue from operations<\/a><\/strong><\/td>\u20b99,228.46 crore<\/strong><\/td>\u20b98,349.59 crore<\/td>Up 11%<\/strong> YoY.<\/td><\/tr>
    Total income<\/strong><\/td>\u20b99,418 crore<\/td>Not stated<\/td>Up more than 11%<\/strong> YoY.<\/td><\/tr>
    Total expenses<\/strong><\/td>\u20b97,829.17 crore<\/td>Not stated<\/td>Up nearly 8%<\/strong> YoY, below revenue growth.<\/td><\/tr>
    EBITDA<\/strong><\/td>\u20b91,787 crore<\/strong><\/td>\u20b91,436.2 crore<\/td>Up 24.4%<\/strong> YoY.<\/td><\/tr>
    EBITDA margin<\/strong><\/td>19.3%<\/strong><\/td>17.2%<\/td>Expanded by over 200 bps<\/strong>.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
    Metric<\/strong><\/th>FY26<\/strong><\/th>FY25<\/strong><\/th>Change \/ Comment<\/strong><\/th><\/tr><\/thead>
    Consolidated net profit<\/strong><\/td>\u20b94,325.35 crore<\/strong><\/td>\u20b93,667.23 crore<\/td>Up 18%<\/strong> YoY.<\/td><\/tr>
    Revenue from operations<\/strong><\/td>\u20b935,583.54 crore<\/strong><\/td>Not stated<\/td>Up around 5%<\/strong> YoY.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
      \n
    • Margin performance in Q4 is described by brokerages as a 12\u2011quarter high<\/strong>.<\/li>\n\n\n\n
    • Domestic decorative volumes in Q4 hit their highest growth in twelve quarters, per brokerage commentary.<\/li>\n<\/ul>\n\n\n\n

      Bullish views and higher targets<\/h2>\n\n\n\n
      Brokerage<\/strong><\/th>Rating<\/strong><\/th>Target price<\/strong><\/th>Key arguments<\/strong><\/th><\/tr><\/thead>
      Nomura<\/strong><\/td>Buy<\/td>\u20b93,600<\/strong><\/td>Strong volume guidance, premium mix, resilient margins.<\/td><\/tr>
      Nuvama<\/strong><\/td>Not stated<\/td>\u20b93,470<\/strong><\/td>Among highest targets on the street.<\/td><\/tr>
      Jefferies<\/strong><\/td>Positive stance<\/td>Third-highest on street (value not stated)<\/td>Sees worst of competitive pressure behind.<\/td><\/tr>
      Macquarie<\/strong><\/td>Outperform<\/td>\u20b93,000<\/strong><\/td>Believes internal levers offset input costs.<\/td><\/tr>
      JM Financial<\/strong><\/td>Add<\/td>\u20b92,815<\/strong><\/td>Expects mid-teen FY27 sales growth.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
        \n
      • Nomura highlighted cumulative price hikes of around 13.5%<\/strong> year-to-date, including 10.5%<\/strong> in April\u2013May and another 3%<\/strong> announced to dealers.<\/li>\n\n\n\n
      • Management has retained volume growth guidance of 8\u201310%<\/strong> for FY27 despite these hikes.<\/li>\n\n\n\n
      • Nomura expects improved product mix impact of -3% to -4%<\/strong>, versus earlier -5% to -6%<\/strong>, driven by premium and luxury paints.<\/li>\n\n\n\n
      • Nomura and JM Financial both noted management\u2019s reiterated EBITDA margin guidance of 18\u201320%<\/strong> despite raw material inflation and competition.<\/li>\n\n\n\n
      • JM Financial expects FY27 mid-teen sales growth, supported by double-digit price increases and lower adverse mix impact.<\/li>\n\n\n\n
      • JM Financial said demand trends in April and May were stable and management is optimistic about Q2 and Q3 FY27.<\/li>\n<\/ul>\n\n\n\n

        Cautious and bearish stances<\/h2>\n\n\n\n
        Brokerage<\/strong><\/th>Rating<\/strong><\/th>Target price<\/strong><\/th>Key concerns<\/strong><\/th><\/tr><\/thead>
        Motilal Oswal<\/strong><\/td>Neutral<\/td>\u20b92,750<\/strong><\/td>Demand uncertainty, inflation, geopolitical risks.<\/td><\/tr>
        HSBC<\/strong><\/td>Hold<\/td>\u20b92,550<\/strong><\/td>Low visibility, lack of near-term re-rating catalysts.<\/td><\/tr>
        Morgan Stanley<\/strong><\/td>Not specified (bearish thesis)<\/td>Not stated<\/td>Sees prolonged de-rating, diluted moats.<\/td><\/tr>
        CLSA<\/strong><\/td>Underperform<\/td>\u20b91,886<\/strong><\/td>Questions ability to pass on full cost inflation.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
          \n
        • Motilal Oswal raised FY27 and FY28 earnings estimates by 3\u20134%<\/strong>, citing better-than-expected revenue.<\/li>\n\n\n\n
        • Motilal Oswal expects standalone EBITDA margins of 19.1%<\/strong> and 19.5%<\/strong> in FY27 and FY28, and consolidated margins of 18.2%<\/strong> and 18.6%<\/strong>.<\/li>\n\n\n\n
        • Motilal Oswal flagged subdued paint demand over the last two years and warned price hikes could delay recovery.<\/li>\n\n\n\n
        • HSBC acknowledged Asian Paints\u2019 strong positioning on cost inflation but cited dealer inventory unwinding and downtrading as key risks.<\/li>\n\n\n\n
        • CLSA<\/strong> estimated Asian Paints needs nearly a 20%<\/strong> price hike to offset rising input costs, versus 10\u201311%<\/strong> already taken, and sees limited room for full pass-through.<\/li>\n\n\n\n
        • “Asian Paints’ competitive moats have been meaningfully diluted, growth predictability is waning, and the segment is in a prolonged de-rating cycle that tactical near-term earnings beats cannot reverse.” \u2014 Morgan Stanley note.<\/li>\n<\/ul>\n\n\n\n

          Competitive intensity and cost levers<\/h2>\n\n\n\n
            \n
          • Jefferies expects the first phase of the VAM\/VAE backward integration project to commission in H1 FY27<\/strong>.<\/li>\n\n\n\n
          • Jefferies views this project as a structural cost lever that could improve input cost control over the medium term.<\/li>\n\n\n\n
          • Jefferies said the worst of competitive pressure is likely behind, though margin uncertainty remains a key risk.<\/li>\n\n\n\n
          • CLSA argued elevated competitive intensity will limit the company\u2019s ability to pass on full cost increases.<\/li>\n\n\n\n
          • Brokerages broadly expect competition in the paints sector to stay elevated in the near term.<\/li>\n<\/ul>\n\n\n\n

            Demand outlook and strategy<\/h2>\n\n\n\n
              \n
            • Management has guided for high single-digit volume growth in FY27, supported by a favourable base.<\/li>\n\n\n\n
            • Motilal Oswal cited more painting days due to El Ni\u00f1o conditions and an extended festive season as tailwinds.<\/li>\n\n\n\n
            • JM Financial expects mid-teen FY27 sales growth, combining volume guidance with double-digit price hikes.<\/li>\n\n\n\n
            • Nomura sees high-teens sales growth in FY27, driven by premium and luxury segment focus.<\/li>\n\n\n\n
            • Asian Paints is focusing on product innovation, brand strengthening, regionalisation and execution to counter competition.<\/li>\n\n\n\n
            • HSBC said demand trajectory, including dealer behaviour and downtrading trends, will be key to monitor.<\/li>\n<\/ul>\n\n\n\n

              Street positioning and valuation<\/h2>\n\n\n\n
                \n
              • Out of 38<\/strong> analysts covering Asian Paints, 18<\/strong> have a Buy rating, 12<\/strong> recommend Hold and 8<\/strong> suggest Sell.<\/li>\n\n\n\n
              • The stock trades at a P\/E of 59.25<\/strong>, reflecting a premium multiple despite year-to-date underperformance.<\/li>\n\n\n\n
              • Macquarie views risk-reward as favourable, arguing competitive impact is increasingly manageable and priced in.<\/li>\n\n\n\n
              • HSBC prefers to stay on the sidelines given limited near-term catalysts despite strong cost positioning.<\/li>\n<\/ul>\n\n\n\n

                FAQs<\/h2>\n\n\n\n

                Q: How did Asian Paints perform in Q4 FY26?<\/strong><\/p>\n\n\n\n

                  \n
                • Asian Paints<\/strong> reported Q4 FY26 consolidated net profit of \u20b91,172 crore<\/strong>, up 69%<\/strong> YoY, on revenue of \u20b99,228.46 crore<\/strong>, up 11%<\/strong>. EBITDA rose 24.4%<\/strong> to \u20b91,787 crore<\/strong>, with margins improving to 19.3%<\/strong>.<\/li>\n<\/ul>\n\n\n\n

                  Q: What is the FY27 outlook for Asian Paints according to management and brokerages?<\/strong><\/p>\n\n\n\n

                    \n
                  • Management has guided for 8\u201310%<\/strong> volume growth and EBITDA margins of 18\u201320%<\/strong> in FY27. Several brokerages expect mid-teen sales growth, supported by price hikes, premium mix and a longer festive season, but flag demand and competitive risks.<\/li>\n<\/ul>\n\n\n\n

                    Q: Where do analyst target prices for Asian Paints currently stand?<\/strong><\/p>\n\n\n\n

                      \n
                    • Reported targets range from \u20b91,886<\/strong> (CLSA, Underperform) to \u20b93,600<\/strong> (Nomura, Buy). Other notable targets include \u20b93,470<\/strong> (Nuvama), \u20b93,000<\/strong> (Macquarie, Outperform), \u20b92,815<\/strong> (JM Financial, Add) and \u20b92,750<\/strong> (Motilal Oswal, Neutral).<\/li>\n<\/ul>\n\n\n\n

                      Frequently Asked Questions<\/h2>\n\n\n\n

                      How did Asian Paints perform in Q4 FY26?<\/h3>\n\n\n\n

                      Asian Paints posted Q4 FY26 consolidated net profit of \u20b91,172 crore, up 69% YoY, on revenue of \u20b99,228.46 crore, up 11%. EBITDA rose 24.4% to \u20b91,787 crore and margins expanded to 19.3%.<\/p>\n\n\n\n

                      What guidance has Asian Paints given for FY27?<\/h3>\n\n\n\n

                      Management has guided for 8\u201310% volume growth and EBITDA margins of 18\u201320% in FY27, despite significant price hikes and raw material inflation.<\/p>\n\n\n\n

                      What are the current analyst ratings and target prices on Asian Paints?<\/h3>\n\n\n\n

                      Out of 38 analysts, 18 rate the stock Buy, 12 Hold and 8 Sell. Reported targets range from \u20b91,886 (CLSA) to \u20b93,600 (Nomura), with several brokerages clustered between \u20b92,750 and \u20b93,470.<\/p>\n","protected":false},"excerpt":{"rendered":"

                      Asian Paints shares rose after Q4 FY26 profit jumped 69% and margins hit 19.3%, but analysts remain divided on competition, demand and FY27 outlook.<\/p>\n","protected":false},"author":15,"featured_media":14562,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_ayudawp_aiss_exclude":false,"_ayudawp_aiss_summary":"","_ayudawp_aiss_summary_provider":"","_ayudawp_aiss_summary_hash":"","footnotes":""},"categories":[512],"tags":[612,613,611],"class_list":["post-14563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates","tag-asian-paints-q4-results-date","tag-asian-paints-q4-results-expected","tag-asian-paints-q4-results-today"],"blocksy_meta":[],"uagb_featured_image_src":{"full":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner.png",1200,640,false],"thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-150x150.png",150,150,true],"medium":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-300x160.png",300,160,true],"medium_large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-768x410.png",768,410,true],"large":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-1024x546.png",1024,546,true],"1536x1536":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner.png",1200,640,false],"2048x2048":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner.png",1200,640,false],"web-stories-poster-portrait":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-640x640.png",640,640,true],"web-stories-publisher-logo":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-96x96.png",96,96,true],"web-stories-thumbnail":["https:\/\/lemonn.co.in\/blog\/wp-content\/uploads\/2026\/06\/asian-paints-gains-after-q4-beat-as-street-debates-outlook-banner-150x80.png",150,80,true]},"uagb_author_info":{"display_name":"Team Lemonn","author_link":"https:\/\/lemonn.co.in\/blog\/author\/yudh\/"},"uagb_comment_info":0,"uagb_excerpt":"Asian Paints shares rose after Q4 FY26 profit jumped 69% and margins hit 19.3%, but analysts remain divided on competition, demand and FY27 outlook.","_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/comments?post=14563"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14563\/revisions"}],"predecessor-version":[{"id":14569,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/posts\/14563\/revisions\/14569"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media\/14562"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=14563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/categories?post=14563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/tags?post=14563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}