Asian Paints shares in focus after Birla Opus files abuse complaint; CCI probe likely
Asian Paints shares
will be in focus on Monday after Birla Opus Paints, a unit of the Birla Group, filed a complaint with the
Competition Commission of India
(CCI), accusing the company of abuse of dominance, according to sources cited by CNBC-TV18.
Grasim Industries
, which owns Birla Opus Paints, reportedly filed the complaint in November 2024, alleging that Asian Paints threatened dealers with reduced credit limits and withdrawal of contracts if they engaged with Grasim. The complaint also accuses Asian Paints of delaying supplies and restricting access to tinting machines as a pressure tactic.
Asian Paints, India's largest paint manufacturer, holds 53% of the country's installed paint production capacity and has a vast distribution network of over 74,000 dealers across 1.6 lakh touchpoints.
Sources said the CCI is expected to soon initiate a formal investigation into the allegations, with an order for a probe likely in the near future.
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Asian Paints
Q4 Earnings
Asian Paints reported a 45% year-on-year decline in consolidated net profit to Rs 692 crore in Q4FY25, down from Rs 1,257 crore in the same period last year. Revenue from operations fell 4% YoY to Rs 8,330 crore.
Profit before depreciation, interest, tax, other income, and exceptional items (PBDIT) dropped 15% YoY to Rs 1,436 crore. The PBDIT margin slipped to 17.2% from 19.4%.
Asian Paints Share Price Target and Performance
According to Trendlyne, the average target price for Asian Paints is Rs 2,289, implying a potential upside of 2%. Of the 35 analysts covering the stock, the consensus rating is 'Sell'.
The stock has declined 23% over the past year and 30% over the last two years. Its current market capitalisation stands at Rs 2.15 lakh crore.
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