Asian Paints‘ fourth-quarter (Q4FY26) profit and revenue numbers beat estimates amid demand momentum seen during the period. An exceptional item of Rs 183 crore in the year-ago quarter also contributed to the sharp rise seen this year in bottomline.
The company’s net profit for the March quarter grew 69.3% year-on-year to Rs 1,172 crore. A year ago, net profit stood at Rs 692 crore. Bloomberg consensus estimates had pegged Q4 net profit at Rs 1,043 crore.
India’s largest paint maker reported net sales of Rs 9,246 crore, up 10.6% from the previous year, comparing favourably with a consensus estimate of Rs 8,781 crore for the period. International sales increased by 11% to Rs 888 crore, led by units in Sri Lanka, Egypt and the UAE. Earnings before interest, tax, depreciation and amortisation (Ebitda) was Rs 1,787 crore, up 24.4% versus last year. Ebitda margins improved 210 basis points to 19.3% in Q4 versus 17.2% reported last year. The company said the decorative business (India) saw strong volume growth of 12.4% and value growth of 10.2% in the quarter.
Margin Expansion
Bloomberg consensus estimates had pegged Q4 revenue at Rs 8,781 crore and Ebitda at Rs 1,575 crore. The company said that the strong growth in its industrial coatings business helped the overall coatings business, which pushed up volume growth by 12.7% and value growth by 11% during the quarter.
“Q4FY26 performance was a quarter of all-round performance, with double-digit volume and value growth and margin expansion,” said Amit Syngle, managing director and chief executive officer of Asian Paints.
“The international portfolio continued to deliver resilient growth with improved profitability despite volatility in select markets. The home décor business, though muted, continued to gain traction through our Beautiful Homes Store network in 20 states in India,” he said.
Macro Geopolitical Volatility
While margins improved through cost discipline aided by material deflation and operational efficiencies, Syngle said the paints major continued to invest in long-term growth drivers.
In his outlook, Syngle added: “The external environment remains fluid, with the West Asia conflict contributing to near-term uncertainty in demand. However, supported by strong fundamentals and execution discipline, we remain resilient to navigate this volatility and sustain our performance.”