Asian Paints Posts Eight-Quarter High Profit Growth in July-September

Asian Paints Ltd. reported a sharp 43% rise in consolidated net profit to ₹9.9 billion for the September quarter, marking its strongest performance in eight quarters. Consolidated revenue grew 6.3% on year to ₹85.3 billion.

The company saw a rebound in growth after six consecutive quarters of on-year decline in revenue. Despite heavy and prolonged monsoon rains that typically hurt construction and home renovation activity, Asian Paints reported double-digit volume growth, with volumes rising 10.9% and value up 6%.

Managing Director and CEO Amit Syngle said demand improved across both urban and rural markets, supported by strong marketing efforts and regional activations. The early onset of the festive season and supportive government policies further boosted consumer sentiment and sales.

Growth was broad-based across categories, with strong contributions from the automotive and industrial coatings segments, which together drove a 6.7% value growth in the domestic coatings business. The company’s international operations also saw double-digit revenue growth, led by markets in South Asia, West Asia, and Africa.

Total expenses rose 4% on year to ₹73.8 billion — a 10-quarter high — as Asian Paints ramped up advertising and retail spending. Even so, consolidated EBITDA increased over 21% to ₹15 billion, while EBITDA margin improved to 17.7% from 15.5% a year earlier.

For the first half of the fiscal year, net profit rose over 12% on year to ₹20.9 billion, while revenue grew about 3% to ₹174.7 billion. The board declared an interim dividend of ₹4.5 per share, with Nov. 18 as the record date.