Worst may be over for Asian Paints, but prospects still far from bright

Asian Paints reported a good performance for the second quarter (July-September) of 2025-26 (Q2FY26), with some help from base effects, despite strong competition and extended monsoon.

- DEVANGSHU DATTA

Volume grew in low double digits in the key domestic decorative paints, and value in that segment grew by 6 percent. Ebitda (earnings before interest, taxes, depreciation, and amortisation) grew 21 per cent year-on-year (Yo-Y), and PAT (profit after tax) grew 14 per cent. Asian Paints also defended market share better after several quarters where it had lost ground to Birla Opus.

Standalone revenues grew S.6 per cent Y-0-Y to 27,360 crore after several quarters of revenue declines. There was double-digit growth in the industrial segment (in both auto and nonauto) as well as in the international business where Nepal, Sri Lanka, and Egypt did well. The divestment of loss-making operations in Indonesia also eased some stress.