Highlights

• Asian Paints reports a 3.9% increase in consolidated net sales for Q3 FY26, reaching ₹8,849.7 crores.
• Decorative business volume grew 7.9% in India, despite a shorter festive season and extended monsoon
• Industrial coatings and specialty paint segments showed favourable double-digit growth, contributing to overall performance.
• International business revenue rose 6.3% in ₹ terms, with steady growth in UAE, Sri Lanka, and Ethiopia.

Asian Paints (NSE:ASIANPAINT) reported its quarterly financial results for the three months ended December 31, 2025, showcasing steady revenue growth, improved margins, and resilient performance across business segments. The stock market reaction is expected to focus on the company’s sustained momentum in decorative, industrial, and international businesses despite broader demand challenges.

For Q3 FY26, Asian Paints’ consolidated net sales increased by 3.9% to ₹8,849.7 crores from ₹8,521.5 crores in the same quarter last year. Consolidated PBDIT rose 8.8% to ₹1,781.0 crores, with the PBDIT margin improving to 20.1%, up 90 basis points year-on-year. Profit before exceptional items and tax increased 8.5% to ₹1,646.7 crores, while net profit before minority interest and exceptional items rose 7.7% to ₹1,215.7 crores. Net profit after minority interest decreased slightly by 4.6% to ₹1,059.9 crores.

Standalone results mirrored this trend, with net sales growing 2.9% to ₹7,601.5 crores, PBDIT rising 7.8% to ₹1,626.7 crores, and the PBDIT margin expanding to 21.4%. Net profit for the quarter decreased by 7.1% to ₹1,025.3 crores.

Diversified Growth Across Segments Boosts Asian Paints’ Q3 Performance

Asian Paints’ decorative business in India delivered 7.9% volume growth despite a shorter festive period and extended monsoon, contributing to a 2.8% revenue increase. The industrial coatings segment posted strong mid-teen growth, with an 8.3% volume increase and 4.4% value growth.

International operations grew 6.3% in ₹terms, with constant currency revenue up 4.2%, driven by markets such as UAE, Sri Lanka, and Ethiopia. Key international profitability metrics also improved, with profit before exceptional items and tax rising to ₹76.6 crores in Q3 FY26 from ₹60.8 crores a year ago.

The company’s home décor vertical saw mixed trends. Bath fittings revenue fell 4.1% to ₹84.0 crores, while the kitchen business rose 2.6% to ₹105.4 crores. Both segments reported reduced losses before exceptional items compared with the previous year. Specialty paints White Teak and Weatherseal posted gains of 12.4% and 58.6%, respectively.

Industrial businesses APPPG and PPGAP saw revenue gains of 16.5% and 16.9%, with profit before exceptional items rising to ₹26.7 crores and ₹179.2 crores, respectively, highlighting strong demand in targeted coatings segments.

Management Emphasizes Strategic Initiatives and Market Agility

Amit Syngle, MD & CEO of Asian Paints, noted that the quarter’s results reflect sustained momentum driven by brand-building initiatives, retailing efforts, innovative products, and disciplined cost management. He highlighted that industrial and international growth, coupled with operational efficiencies, helped maintain margins despite competitive pressures and subdued overall demand.

Investor Takeaway

Asian Paints’ Q3 FY26 results signal stable growth backed by volume gains in domestic decorative and industrial segments, improved profitability in international markets, and operational efficiency. These factors combined may continue to attract investor attention as the company navigates evolving market dynamics. The stock has delivered a one-year returns of 16.72% as on 27 January 2026.

Disclaimer:

The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.

Copyright 2026 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.