Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Bottom-Up

<ul>
<li>The paint industry experienced significant challenges in Q2FY24, with most companies reporting subdued performance.</li>
<li>Asian Paints reported typical fluctuations in market share of 1-1.5%, while Berger Paints and AkzoNobel both reported gains in their respective market positions.</li>
<li>Asian Paints' current market share reduction and increased competitive pressure stem from its size and the slowing macro environment.</li>
</ul>


The paint industry experienced significant challenges in Q2FY24, with most companies reporting subdued performance.
Asian Paints reported typical fluctuations in market share of 1-1.5%, while Berger Paints and AkzoNobel both reported gains in their respective market positions.
Asian Paints' current market share reduction and increased competitive pressure stem from its size and the slowing macro environment.


Asian Paints (APNT IN) | Navigating Turbulence

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>
<a href="https://www.smartkarma.com/entities/asian-paints-ltd" target="_blank" data-smartkarma-citation="entities:6354:1" rel="noopener">Asian Paints (APNT IN)</a> reported a 42.4% drop in Q2FY25 net profit and a 5.3% revenue decline.</li>
<li>Intense competition, extended monsoons, weak urban demand, and margin pressures are impacting performance.</li>
<li>Asian Paints’ resilience hinges on premiumization, sustainability, and industrial coatings to offset short-term challenges.</li>
</ul>



Asian Paints (APNT IN) reported a 42.4% drop in Q2FY25 net profit and a 5.3% revenue decline.
Intense competition, extended monsoons, weak urban demand, and margin pressures are impacting performance.
Asian Paints’ resilience hinges on premiumization, sustainability, and industrial coatings to offset short-term challenges.


Why Is India's Paint Giant Asian Paint Falling?

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Asian Paints (APNT) registered weak 2Q performance with a 5%/7% YoY decline in consolidated/standalone revenue.</li><li>Decorative volumes dipped 0.5% YoY, a sharp deceleration after clocking 7% growth in 1QFY25.</li><li>Weak industry demand, extended monsoon, price cuts, and competition led to weak growth. Decorative industry saw a 3%-4% decline in 2Q.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Asian Paints (APNT) registered weak 2Q performance with a 5%/7% YoY decline in consolidated/standalone revenue.Decorative volumes dipped 0.5% YoY, a sharp deceleration after clocking 7% growth in 1QFY25.Weak industry demand, extended monsoon, price cuts, and competition led to weak growth. Decorative industry saw a 3%-4% decline in 2Q.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Asian Paints - Miss on All Fronts; Industry Challenges Persist

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Underwhelming quarter amid sluggish demand: Asian Paints' results fell short of both our and street estimates due to subdued consumer sentiment, prolonged monsoons, and weaker performance in urban markets.</li><li>Consolidated sales declined by 5.3%, impacted by prior price cuts, weak performance in the decorative segment (with a volume decline of 0.5% YoY and revenue down by 6.7%), and increased competition offering steep discounts.</li><li>The Industrial Business, however, posted single-digit value growth, driven by the General Industrial, Protective Coatings, and Refinish segments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Underwhelming quarter amid sluggish demand: Asian Paints' results fell short of both our and street estimates due to subdued consumer sentiment, prolonged monsoons, and weaker performance in urban markets.Consolidated sales declined by 5.3%, impacted by prior price cuts, weak performance in the decorative segment (with a volume decline of 0.5% YoY and revenue down by 6.7%), and increased competition offering steep discounts.The Industrial Business, however, posted single-digit value growth, driven by the General Industrial, Protective Coatings, and Refinish segments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Asian Paints Ltd - Demand Remains Sluggish; Maintain HOLD

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>APNT maintained double-digit volume growth guidance for FY25, having overcome major headwinds in Q1, green shoots in rural markets, improved monsoon conditions, increase in infra activities post elections and hopes of positive festive season impact.</li><li>The domestic outlook remains positive across decorative, auto, and industrial segments, while IBD faces uncertainty due to geopolitical issues.</li><li>The Home décor segment is sustaining growth while economy paints are likely to benefit from recently launched Neo Bharat.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

APNT maintained double-digit volume growth guidance for FY25, having overcome major headwinds in Q1, green shoots in rural markets, improved monsoon conditions, increase in infra activities post elections and hopes of positive festive season impact.The domestic outlook remains positive across decorative, auto, and industrial segments, while IBD faces uncertainty due to geopolitical issues.The Home décor segment is sustaining growth while economy paints are likely to benefit from recently launched Neo Bharat.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Asian Paints (APNT IN) - Market Dynamics yet to Play Out; Reduce

India

Asian Paints Limited manufactures a wide range of decorative paints, varnishes, enamels, and black & synthetic resins. The Company, through its subsidiaries, also manufactures specialty industrial chemicals and vinyl pyridine latex products which are used in the manufacture of rubber tires.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Asian Paints (APNT IN)