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Time of India
2 days ago
- Business
- Time of India
Asian Paints net profit dips 5.88% in Q1 FY26
NEW DELHI: Asian Paints a has reported a dip of 5.88 per cent in its net consolidated profit during the quarter ended June 30, 2025. Its profit after tax stood at ₹1,117.05 crore in Q1 FY26 as against ₹1,186.79 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹9,131.34 crore in Q1 FY26, a growth of 0.06 per cent from ₹9,125.94 crore it recorded in the similar quarter last year. "Our revenues for the coatings business in India were 0.2% lower than last year. Domestic decorative paints business did relatively better compared to the earlier quarters, registering a volume growth of 3.9% and a revenue decline of 1.2%. The home décor business was slow due to subdued retail consumption. On the international front, the portfolio delivered a strong performance with a revenue growth of 11.1% on a like-to-like basis (20.4% in constant currency terms), with all key markets in the Middle East and South Asia performing well," said Amit Syngle , managing director & CEO of the company. On 27th June 2025, the company has acquired balance 40% stake of the equity share capital of Obgenix Software (hereinafter referred to as 'White Teak') for a consideration of ₹188 crore in accordance with the share purchase agreement and other definitive documents entered with the erstwhile promoters of White Teak. Accordingly, White Teak has become a wholly owned subsidiary of the company. Its consolidated net sales decreased by 0.2% and stood at ₹8,924.5 crore from ₹8,943.2 crore. Decorative Business (India) registered volume growth of 3.9% with revenue decline of 1.2%, Home Décor categories saw a de-growth in Q1 FY'26 with pressure on household disposable incomes while international business registered a value growth of 8.4% to ₹736.1 crore on the back of growth in Asian markets, UAE and Egypt. Bath fittings business' sales decreased by 5.1% to ₹88.7 crore from ₹93.4 crore. PBDIT loss was ₹1.3 crore against loss of ₹1.4 crore in the corresponding period of the previous year. Kitchen business' sales decreased by 2.3% to ₹98.1 crore from ₹100.4 crore. PBDIT loss was ₹6.2 crore as against profit of ₹0.9 crore in the corresponding period of previous year. White teak and weatherseal's sales at white teak decreased by 31.9% to ₹20.2 crore from ₹29.7 crore. Sales at weatherseal increased by 32.2% to ₹15.2 crore from ₹11.5 crore.
Mint
2 days ago
- Business
- Mint
Asian Paints sees signs of demand revival despite dull start to FY26
Mumbai: Asian Paints Ltd is seeing early signs of a revival in demand even as its revenue and profit fell in the June quarter and continues to face stiff competition. The demand was still better in April and May but got 'very strongly impacted by early monsoons' in June, said Amit Syngle, managing director and chief executive officer at Asian Paints, in the earnings call. '....We have seen a little bit of a similar pattern in July as well, as we have been seeing in Q1 in terms of demand.' The Mumbai-based paintmaker's revenue fell 0.35% over a year earlier to ₹ 8,938.55 crore in the first quarter ended June, according to its exchange filings. Net profit declined 6% to ₹ 1,099.77 crore on-year. The company is targeting single-digit growth in FY26 and expects consistent monsoons to revive rural demand. Chief executive Syngle said they have seen some early signs of revival in overall demand, which is supported by green shoots in urban markets and inflation under control. An early arrival of festivals like Diwali in October could impact the third quarter, shifting retail activity to September, the company said. Asian Paints' management said it is seeing the consumer shift to more affordable products from the luxury segment due to budget constraints. 'When we look at luxury emulsions, we did not do as far as our expectations,' Syngle said. There was a little bit of 'down-trading, which was happening in the market, possibly due to either liquidity' or some other constraints, he said. Syngle also admitted that competition is intensifying. 'I think it's an exciting market. Overall, the competition is fairly intense and it is driving us to look at doing more of innovation, looking at seeing how we can look at really propelling the brand further, looking at increasing the saliency,' he said. '...We would like to look at good growth in the coming times.' Asian Paints, which once held well over 50% market share in decorative and industrial paints for decades, has seen its dominance slip amid rising competition, with its share now hovering closer to the 50% mark. Aditya Birla-backed Birla Opus disrupted the market since its entry in April 2024 and JSW Paints' June acquisition of Dutch paintmaker Akzo Nobel's India business has intensified competition in the paints industry. Asian Paints' decorative paint volumes grew 3.9% year-on-year, while the segment's revenue declined 1.2% due to weak demand stemming from macro-economic uncertainties and early monsoon. The paint maker's international sales increased 8.4% to ₹ .736.1 crore during the quarter. Syngle said the company is 'confident in the long-term growth potential of the home décor and paints industry'. However, its earnings before interest, tax, depreciation and amortization (Ebitda) fell 4% year-on-year to ₹ 1,624.97 crore. 'Asian Paints has fared well in this quarter despite intensifying competition from new entrants,' said Manoj Menon, head of research at ICICI Securities. 'The decline in operating profit is quite normal and an effect of operating deleverage in a flat revenue quarter.' Asian Paints shares closed 1.78% at ₹ 2,401.50 apiece on Tuesday compared with a 0.55% rise in the benchmark BSE Sensex.
New Indian Express
2 days ago
- Business
- New Indian Express
Asian Paints' net profit plunges 6%, CEO blames 'subdued demand environment'
MUMBAI: Paints major Asian Paints has said its consolidated net profit fell 6% on-year to Rs 1,117 crore in the June quarter due to a fall in sales amid the subdued demand and macroeconomic uncertainties. Revenue from sales was marginally down to Rs 8,924.49 crore from Rs 8,943.24 crore a year ago, while expenses rose 1.3% to Rs 7,658.95 crore in the reporting quarter. However, its total income, which includes revenue from other sources, was flat at Rs 9,131.34 crore. On a standalone basis, which mainly includes domestic numbers, revenue from sales was down 1.19% to Rs 7,848.83 crore. Despite a growth in volume of 3.9% in the domestic decorative business, revenue from this segment declined 1.2%, the company said in an exchange filing Tuesday. Managing director & chief executive Amit Syngle blamed "the subdued demand environment due to macroeconomic uncertainties and early monsoons" for overall poor numbers. For the revenue fall, he blamed the shift in the product mix.
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Business Standard
3 days ago
- Business
- Business Standard
Asian Paints sees 6% profit drop in Q1, strong performance in int'l markets
Asian Paints saw its net profit fall by 6 per cent in the quarter ended June. The country's largest paint maker reported a profit of Rs 1,100 crore, while its decorative paints business in India saw a 3.9 per cent increase in volumes. During the quarter, the company's net sales stood at Rs 8,939 crore, a decline of 0.3 per cent. The company stated that the industry witnessed a marginal improvement in demand from urban centres, despite the monsoons slowing momentum in June. Sales from the Industrial Business increased by 8.4 per cent to Rs 736.1 crore, up from Rs 679.1 crore, driven by growth in the Asian markets, as well as in the UAE and Egypt, the company said in its earnings release. Its PBIDT (profit before interest, depreciation, and tax) stood at Rs 1,854 crore, down 1.7 per cent. 'The paint industry experienced a slight uptick this quarter, driven by marginally improved demand from urban centres, despite monsoons slowing the momentum in June. Our revenues for the coatings business in India were 0.2 per cent lower than last year. The domestic decorative paints business performed relatively better compared to previous quarters, registering a volume growth of 3.9 per cent and a revenue decline of 1.2 per cent,' Amit Syngle, Managing Director and Chief Executive Officer of Asian Paints, said in the earnings release. He added that the operating margins for the quarter were marginally lower on a year-on-year basis due to higher sales and marketing investments. The home décor business was slow due to subdued retail consumption; however, the retail chain of Beautiful Homes Stores performed well. 'On the international front, the portfolio delivered a strong performance with a revenue growth of 11.1 per cent on a like-to-like basis (20.4 per cent in constant currency terms), with all key markets in the Middle East and South Asia performing well,' Syngle said. He also expressed confidence in the long-term growth potential of the home décor and paints industry, noting that the company continues to drive innovation and strengthen its brand presence as it navigates the current demand challenges.
Business Standard
3 days ago
- Business
- Business Standard
Asian Paints gains after Q1 PAT rises 59% QoQ to Rs 1,100 cr
Asian Paints advanced 1.81% to Rs 2,401.55 after the company's consolidated net profit jumped 58.9% to Rs 1,099.77 crore on 6.93% increase in revenue from operations to Rs 8,938.55 crore in Q1 FY26 over Q4 FY25. On year on year (YoY) basis, the companys consolidated net profit and revenue declined 6% and 0.35%, respectively in Q1 FY26. Profit before tax (PBT) fell 5.9% YoY to Rs 1,508.7 crore in Q1 June 2025. PBDIT (Profit before depreciation, interest, tax and other income) (before share in profit of associates) decreased by 4.1% to Rs 1,625.0 crore in Q1 FY26 from Rs 1,693.8 crore in Q1 FY25. PBDIT Margin slipped to 18.2% in Q1 June 2025 compared with 18.9% in same quarter last year. International business sales increased 8.4% to Rs 736.1 crore in Q1 FY26 from Rs 679.1 crore in Q1 FY25, on the back of growth in Asian markets, UAE & Egypt. In constant currency terms, sales increased by 17.5%. PBT was Rs 38.0 crore as against Rs 6.5 crore in the corresponding period of previous year. Bath and fittings business sales were at Rs 88.7 crore (down 5.1% YoY) while Kitchen business sales stood at Rs 98.1 crore (down 2.3% YoY) during the period under review. In Q1 FY26, sales at White Teak dropped 31.9% to 20.2 crore from Rs 29.7 crore. Sales at Weatherseal increased 32.2% to Rs 15.2 crore in Q1 FY26 from Rs 11.5 crore in Q1 FY25. Under Industrial business, APPPG (Asian Paints PPG) sales were at Rs 307.4 crore in Q1 June 2025, up 4.8% compared with Rs 293.2 crore in Q1 June 2024. PPGAP (PPG Asian Paints) sales stood at Rs 574.5 crore in Q1 FY26, up 11.1%. Amit Syngle, managing director & CEO of Asian Paints, said, The paint industry experienced a slight uptick this quarter, driven by marginally improved demand from urban centres, despite monsoons slowing the momentum in June. Our revenues for the coatings business in India were 0.2% lower than last year. Domestic decorative paints business did relatively better compared to the earlier quarters, registering a volume growth of 3.9% and a revenue decline of 1.2%. The revenues from the industrial coatings business grew by 8.8%, on the back of good performance in auto & protective coating segments. The operating margins for the quarter were marginally lower on a year on year basis on account of higher sales and marketing investments. The home dor business was slow due to subdued retail consumption however the retail chain of beautiful homes stores did well. On the international front, the portfolio delivered a strong performance with a revenue growth of 11.1% on a like-to-like basis (20.4% in constant currency terms), with all key markets in the Middle East and South Asia performing well. Confident in the long-term growth potential of home dor and paints industry, we continue to drive innovation and strengthen our brand saliency as we navigate the current demand challenges. Asian Paints, established in 1942, is the largest listed company in India's decorative paints segment. It ranked among the top eight decorative coatings companies in the world. It is engaged in the business of manufacturing, selling, and distributing paints, coatings, and products related to home dor and bath fittings and providing related services.
