Valuation Asian Paints Limited

Equities

Market Closed - NSE India S.E. Other stock markets 05:19:44 20/01/2026 pm IST			5-day change	1st Jan Change
2,675.60 ^INR	-2.85%		-7.62%	-3.39%

20/01	Indian Equities Extend Losses on Rising Global Trade Woes	MT
20/01	Unimech Aerospace Gets Board Nod to Form Joint Venture in Saudi Arabia	MT

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	24,33,868	29,54,281	26,48,969	27,30,596	22,45,146	25,66,430	-	-
Change	-	21.38%	-10.33%	3.08%	-17.78%	14.31%	-	-
Enterprise Value (EV) ¹	23,94,141	29,24,365	26,16,959	27,12,466	22,27,780	25,42,087	25,27,686	25,10,380
Change	-	22.15%	-10.51%	3.65%	-17.87%	14.11%	-0.57%	-0.68%
P/E ratio	77.5x	97.5x	64.5x	50x	61.2x	58.2x	51.6x	46x
PBR	19x	21.4x	16.6x	14.6x	11.6x	12.2x	11.1x	9.99x
PEG	-	-27.99x	1.8x	1.5x	-1.9x	2.9x	4x	3.8x
Capitalization / Revenue	11.2x	10.2x	7.71x	7.69x	6.62x	7.19x	6.6x	6.08x
EV / Revenue	11x	10x	7.61x	7.64x	6.57x	7.12x	6.5x	5.94x
EV / EBITDA	49.3x	60.9x	41.7x	35.8x	36.2x	38.7x	34.7x	31.1x
EV / EBIT	58.9x	73.3x	48.4x	40.3x	43.5x	47.7x	42.6x	38x
EV / FCF	70.4x	652x	89.6x	69.5x	85.1x	62.9x	61.3x	53.8x
FCF Yield	1.42%	0.15%	1.12%	1.44%	1.18%	1.59%	1.63%	1.86%
Dividend per Share ²	17.85	19.15	21.25	33.3	24.8	27.79	30.45	33.5
Rate of return	0.7%	0.62%	0.77%	1.17%	1.06%	1.04%	1.14%	1.25%
EPS ²	32.73	31.59	42.82	56.94	38.25	45.99	51.86	58.19
Distribution rate	54.5%	60.6%	49.6%	58.5%	64.8%	60.4%	58.7%	57.6%
Net sales ¹	2,17,128	2,91,013	3,43,678	3,54,947	3,39,056	3,56,996	3,88,586	4,22,365
EBITDA ¹	48,556	48,036	62,698	75,850	61,469	65,607	72,864	80,685
EBIT ¹	40,643	39,872	54,018	67,320	51,206	53,271	59,380	66,122
Net income ¹	31,393	30,306	41,064	54,602	36,672	44,082	49,546	55,298
Net Debt ¹	-39,728	-29,916	-32,010	-18,130	-17,366	-24,343	-38,744	-56,050
Reference price ²	2,537.40	3,079.95	2,761.65	2,846.75	2,340.65	2,675.60	2,675.60	2,675.60
Nbr of stocks (in thousands)	9,59,198	9,59,198	9,59,198	9,59,198	9,59,198	9,59,198	-	-
Announcement Date	12/05/21	10/05/22	11/05/23	09/05/24	08/05/25	-	-	-

¹INR in Million²INR

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (N)	EV / Sales (N)	EV / EBITDA (N)	Dividend Yield (N)	Capi.($)
ASIAN PAINTS LIMITED	59.89x	7.33x	39.89x	1.01%	2.91TCr
THE SHERWIN-WILLIAMS COMPANY	34.57x	4.22x	21.91x	0.88%	8.82TCr
PPG INDUSTRIES, INC.	15.67x	1.89x	10.74x	2.52%	2.47TCr
NIPPON PAINT HOLDINGS CO., LTD.	14.45x	1.92x	10.75x	1.55%	1.52TCr
RPM INTERNATIONAL INC.	21.25x	2.13x	13.86x	1.9%	1.42TCr
AKZO NOBEL N.V.	20.58x	1.3x	9.15x	3.44%	1.16TCr
AXALTA COATING SYSTEMS LTD.	16.36x	1.92x	8.65x	-.--%	716.19Cr
BERGER PAINTS INDIA LIMITED	52.1x	4.9x	31.61x	0.82%	666.03Cr
SKSHU PAINT CO.,LTD.	34.32x	2.71x	24.34x	1.52%	466Cr
KANSAI PAINT CO., LTD.	13.66x	0.96x	7.08x	4.06%	285.03Cr
Average	28.28x	2.93x	17.80x	1.77%	2.04TCr
Weighted average by Cap.	32.30x	3.76x	20.70x	1.39%