Asian Paints Ltd Share Price – NSE /  BSE

Paints/Varnish, Mid Cap

The domestic equity benchmarks traded in positive territory with decent gains in afternoon trade. The Nifty hovers above the 24,200 level. IT, PSU Bank and Bank shares advanced while media, metal and pharma shares declined.

At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 239.79 points or 0.30% to 79,727.73. The Nifty 50 index added 63.15 points or 0.26% to 24,211.35.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.45% and the S&P BSE Small-Cap index fell 0.59%.

The market breadth was weak. On the BSE, 1,688 shares rose and 2,311 shares fell. A total of 131 shares were unchanged.

Economy:

India's forex reserves declined by USD 2.675 billion to USD 682.13 billion for the week ended November 1, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by USD 3.463 billion to USD 684.805 billion.

For the week ended November 1, foreign currency assets, a major component of the reserves, decreased by $3.902 billion to $589.849 billion, the data released on Friday showed.

Gold reserves increased by $1.224 billion to $69.751 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by $1 million to $18.219 billion, the apex bank said.

India's reserve position with the IMF was up by $4 million to $4.311 billion in the reporting week, the data showed.

Gainers & Losers:

Trent (up 4.80%), Power Gird Corporation of India (up 4.54%), Tata Motors (up 1.88%), Maruti Suzuki India (up 1.74%) and Tech Mahindra (up 1.74%) were major Nifty gainers.

Asian Paints (down 8.39%), Britannia Industries (down 3.97%), Apollo Hospitals Enterprise (down 3.62%), Cipla (down 2.69%) and Mahindra & Mahindra (M&M)(down 1.68%) were major Nifty losers.

Asian Paints tumbled 8.39% after the company reported 42.37% decline in consolidated net profit to Rs 694.64 crore in Q2 FY25 as against Rs 1,205.42 crore reported in Q2 FY24. Revenue from operations stood at Rs 8,003.02 crore in Q2 FY25, down 5.31% from Rs 8,451.93 crore recorded in the corresponding quarter previous year.

Stocks in Spotlight:

Power Finance Corporation (PFC) surged 6.92% after the company’s consolidated net profit rose 8.85% to Rs 7,214.90 crore on 14.96% increase in total revenue from operations to Rs 25,721.79 crore in Q2 FY25 over Q2 FY24.

Fortis Healthcare rose 0.51% after the company reported a 4.99% gain in consolidated net profit to Rs 193.08 crore on 12.34% jump in revenue from operations to Rs 1,988.39 crore in Q2 FY25 over Q2 FY24.

Samhi Hotels jumped 2.41% after the company reported consolidated net profit of Rs 126 crore in Q2 FY25 as compared with net loss of Rs 880 crore in Q2 FY24.

C.E. Info Systems (MapMyIndia) tumbled 7.62% after the company reported 8.20% decline in consolidated net profit to Rs 30.33 crore in Q2 FY25 as against Rs 33.04 crore posted in Q2 FY24. Revenue from operations jumped 13.82% year on year (YoY) to Rs 103.67 crore in Q2 FY25.

GE Vernova T&D India hit an upper circuit of 5% after the company’s standalone net profit surged 289.08% to Rs 144.62 crore on 58.76% jump in revenue from operations to Rs 1,107.77 crore in Q2 FY25 over Q2 FY24.

ITI jumped 11.54% on emerges as the lowest bidder for three packages of BharatNet phase-3 project for a total value of Rs 4,559 crore.

Shipping Corporation of India (SCI) rallied 12.10% after the company’s consolidated net profit surged 343.39% to Rs 291.44 crore on 32.71% increase in revenue from operations to Rs 1450.76 crore in Q2 FY25 over Q2 FY24.

Global Market:

European market traded higher after investors digested US election results.

Most Asian stocks declined after China’s latest stimulus measures underwhelmed and its October inflation numbers came in lower than expected, prompting concerns over the recovery in the world’s second-largest economy.

Meanwhile, Bitcoin surged past $81,000, driven by the incoming president's support for digital assets and the election of pro-crypto lawmakers. Oil prices declined further, extending losses from the previous session, as weak demand from China continued to dampen market sentiment.

In the US, the S&P 500 reached a new record high, driven by optimism surrounding the potential economic benefits of a second term for the incumbent US president. The S&P 500 rose 0.38% to 5,995.54 points on Friday. The Dow Jones Industrial Average rose 0.59% to 43,988.99 points, while the NASDAQ Composite rose 0.09% to 19,286.78 points.

Tesla's stock surged over 8%, boosting its market valuation above $1 trillion, while Airbnb shares fell more than 8% following a mixed quarterly earnings report.

The University of Michigan's Consumer Sentiment reading climbed to 73 in November, up from 70.5 last month, refleThe University of Michigan's Consumer Sentiment reading climbed to 73 in November, up from 70.5 last month, reflecting increased optimism about the economy.

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Revenue from operations stood at Rs 8,003.02 crore in Q2 FY25, down 5.31% from Rs 8,451.93 crore recorded in the corresponding quarter previous year.

PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 27.8% to Rs 1,239.5 crore in Q2 FY25 from Rs 1,716.2 crore recorded in Q2 FY24.

The PBDIT margin as a percentage of net sales decreased to 15.5%, compared to 20.3% in the same period of the previous year.

Profit before exceptional items and tax decreased by 30.99% to Rs 1,139.18 crore in Q2 FY25 as compared to Rs 1,650.94 crore reported in Q2 FY24.

The firm reported exceptional items of Rs 180.14 crore during the quarter. This amount includes an impairment provision of Rs 124 crore on 'Goodwill on Consolidation' related to White Teak, as well as a foreign exchange loss of Rs 56.1 crore associated with the company’s subsidiary in Ethiopia.

International business sales decreased marginally to Rs 769.5 crore in Q2 FY25, compared to Rs 775 crore recorded in Q2 FY24. The decline was primarily attributed to macroeconomic challenges and currency devaluation in Ethiopia, Egypt and Bangladesh. However, in constant currency terms, sales grew by 8.7%. The company reported pre-tax loss of of Rs 21.5 crore in Q2 FY25 as against profit before tax of Rs 40.4 crore in the corresponding period of previous year.

During the period under review, Bath Fittings business sales were at Rs 83.1 crore (up 2.1% YoY) while Kitchen business sales stood at Rs 105.3 crore (up 8.8% YoY).

Sales at White Teak increased by 19.2% YoY to Rs 31.1 crore in Q2 FY25. Similarly, sales at Weatherseal grew by 4.8% YoY to Rs 13.2 crore in the same quarter.

Industrial business (Asian Paints PPG) sales grew by 6% YoY to Rs 265.5 crore in Q2 FY25 from Rs 250.6 crore recoreded in Q2 FY24. Additionally, PPGAP sales increased by 5.9% YoY to Rs 524.4 crore in Q2 FY25 from Rs 495.3 crore posted in Q2 FY25.

Amit Syngle, managing director & CEO of Asian Paints, said, “The paint industry faced a subdued demand environment during the quarter. Domestic Decorative coatings segment volumes declined marginally while overall domestic coatings revenue declined by 5.5% for the quarter impacted by muted consumer sentiments and extended rains and floods in some parts of the country. Operating margins were impacted by the price reductions taken last year, higher material prices and increased sales expenses. While we took price increases during the quarter, full impact of the same should flow through only in the second half of the year.

The Industrial Business did relatively better with single digit value growth supported by growth in the general industrial, protective coatings and refinish segments. We continued to register growth in our Home Décor categories across our Beautiful Homes Stores network, introducing new collections & product solutions. International Business portfolio registered a marginal decline in revenues for the quarter (8.7% growth in constant currency terms) despite unfavorable market conditions in certain key markets like Ethiopia and Bangladesh.

On the margin front, soft demand conditions, product mix and material price inflation affected margins in Q2. We expect margins to recover in the coming quarters on the back of anticipated softening in material prices coupled with price increases implemented in the last few months. While demand conditions remain challenging, we continue to direct our efforts towards leveraging our brand strength, robust supply chain and distribution network to pursue growth”

Asian Paints is India's leading paint company and ranked among the top eight decorative coatings companies in the world. Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, bath fittings and providing related services.

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Net profit of Asian Paints declined 42.37% to Rs 694.64 crore in the quarter ended September 2024 as against Rs 1205.42 crore during the previous quarter ended September 2023. Sales declined 5.31% to Rs 8003.02 crore in the quarter ended September 2024 as against Rs 8451.93 crore during the previous quarter ended September 2023.

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Asian Paints announced that the Board of Directors of the Company at its meeting held on 9 November 2024, inter alia, have recommended the interim dividend of Rs 4.25 per equity Share (i.e. 425%) , subject to the approval of the shareholders.

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