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Asian Paints (ASIANPAINT) investor relations material
Asian Paints Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved double-digit volume growth of 10.9% in Q2 FY26 and 7.2% in H1, with value growth of 6% for Q2 and 2.1% for H1, despite challenging consumer sentiment and extended monsoon impacts.
Consolidated net sales for Q2 FY26 rose 6.4% year-over-year to ₹8,514 crores, with standalone net sales up 5.8% to ₹7,336 crores.
Growth driven by internal initiatives: brand building, innovation, regionalization, B2B expansion, and backward integration.
International business posted 9.9% revenue growth (10.6% in constant currency), led by South Asia, Middle East, and Africa, with profitability up due to favorable mix and cost deflation.
Home décor segment underperformed, with only weather seal showing positive revenue and bottom line; kitchen and bath businesses saw top-line declines and continued PBT losses.
Financial highlights
Q2 FY26 consolidated PBDIT increased 21.3% to ₹1,503 crores; margin improved to 17.7% (up 220 bps); standalone PBDIT margin at 18.5% (up 230 bps).
Q2 FY26 consolidated net profit after minority interest rose 43% to ₹993.6 crores; standalone net profit up 60% to ₹955.6 crores.
H1 FY26 consolidated net sales up 2.9% to ₹17,438.2 crores; net profit after minority interest up 12.3% to ₹2,093.4 crores.
Interim dividend of ₹4.50 per share declared for FY26, with a payout ratio at 60%.
Material cost deflation of 1.6% in Q2 aided margin expansion.
Outlook and guidance
Expect mid-digit value growth for the full year, with volume growth outpacing value by 4-5%.
Management highlights continued focus on innovation, cost efficiency, and brand investments to sustain performance amid a dynamic and challenging business environment.
Industry demand remains subdued, but rural growth and festive/marriage season expected to support demand.
Margin guidance maintained at 18-20% due to ongoing investments and competitive intensity.
Raw material prices expected to stay stable, but geopolitical and currency risks persist.
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