Asian Paints (ASIANPAINT) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 consolidated net sales rose 16.9% to ₹9,953.9 cr; PAT after minority interest increased 7.5% to ₹1,067.6 cr.

• Domestic coatings grew 16.4% by value and 6.8% by volume; international sales rose 29.5%, while inflation and delayed price pass-through pressured margins.

• H1 consolidated net sales grew 17.4% and PAT after minority interest rose 24.5%.

Financial highlights

• Q2 consolidated net sales were ₹9,953.9 cr (+16.9%), PBDIT ₹1,557.1 cr (+3.6%) and PAT after minority interest ₹1,067.6 cr (+7.5%).

• Q2 standalone net sales were ₹8,423.6 cr (+14.8%), PBDIT ₹1,440.3 cr (+5.9%) and net profit ₹1,095.6 cr (+14.6%).

• H1 consolidated net sales were ₹20,475.3 cr (+17.4%), PBDIT ₹3,725.8 cr (+19.1%) and PAT after minority interest ₹2,606.9 cr (+24.5%).

• H1 standalone net sales were ₹17,580.1 cr (+15.8%), PBDIT ₹3,452.0 cr (+19.8%) and net profit ₹2,573.9 cr (+25.1%).

Outlook and guidance

• FY EBITDA margin expected within the 18%–20% band; calibrated pricing, cost efficiencies and VAE integration support margin recovery.

• Q3 volume growth outlook was ~8%–9%, supported by festive and wedding-season demand; monsoon deficit may weigh on rural markets.

• Further staggered pricing and cost-efficiency initiatives planned amid persistent inflation, supply-chain volatility and elevated competition.