Asian Paints Ltd

This raises the total project cost to Rs 3,250 crore, up from the initially estimated Rs 2,560 crore. The increase is attributed to pre-operative expenses and project cost escalations. The facility, being developed by Asian Paints (Polymers) (APPPL), a wholly-owned subsidiary, will manufacture vinyl acetate ethylene emulsion (VAE), vinyl acetate monomer (VAM), and include an ethylene storage and handling unit. The cost of the project would be funded through a combination of equity funding by the company in APPPL and external debt financing. 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 distributing paints, coatings, and products related to home d'cor and bath fittings and providing related services. The company's consolidated net profit surged 59.86% to Rs 1,110.48 crore on a 6.47% rise in revenue from operations to Rs 8,521.51 crore in Q3 FY25 over Q2 FY25. Shares of Asian Paints rose 0.54% to Rs 2,350.40 on the BSE.Powered by Capital Market - Live

The Board of Asian Paints at its meeting held on 27 March 2025 has approved the appointment of Ashish Choksi (DIN: 00059132) as an Additional and Non-Executive Director on the Board of the Company, with effect from 1 April 2025. Powered by Capital Market - Live

Asian Paints announced that Jigish Choksi (DIN: 08093304) has tendered his resignation as a Non-Executive Director of the Company, with effect from the close of business hours on 31 March 2025. Powered by Capital Market - Live

Asian Paints will hold a meeting of the Board of Directors of the Company on 8 May 2025.Powered by Capital Market - Live

Asian Paints announced that the scheme of amalgamation of Maxbhumi Developers and Sleek International (wholly owned subsidiaries of Asian Paints) with the company, sanctioned by the NCLT has become effective from 01 March 2025. Accordingly, Maxbhumi Developers and Sleek International cease to be subsidiaries of the company.Powered by Capital Market - Live

Net profit of Asian Paints declined 23.29% to Rs 1110.49 crore in the quarter ended December 2024 as against Rs 1447.72 crore during the previous quarter ended December 2023. Sales declined 6.10% to Rs 8521.51 crore in the quarter ended December 2024 as against Rs 9074.94 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales8521.519074.94 -6 OPM %19.2122.66 - PBDT1773.722188.13 -19 PBT1518.171967.78 -23 NP1110.491447.72 -23 Powered by Capital Market - Live

On a year-on-year basis, the company's net profit fell 23.29% from Rs 1,447.72 crore in Q3 FY24, while revenue from operations declined by 6.09% from Rs 9,074.94 in Q3 FY24. PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 20.4% to Rs 1,636.7 crore in Q3 FY25 from Rs 2,056.1 crore recorded in Q3 FY24. The PBDIT margin as a percentage of net sales decreased to 19.2% from 22.7% in the same period of the previous year. Profit before tax declined by 22.84% to Rs 1,518.16 crore in Q3 FY25 as compared to Rs 1,967.78 crore reported in Q3 FY24. International business sales in Q3 FY25 increased by 5% to Rs 818 crore, up from Rs 779.1 crore in Q3 FY24, driven by improved macroeconomic conditions in Sri Lanka, Bangladesh, and Nepal, partially offset by currency devaluation in Ethiopia and Egypt. In constant currency terms, sales grew by 17.1%. PBT in Q3 FY25 was Rs 60.8 crore, compared to Rs 58.3 crore in the corresponding period of the previous year. During the period under review, sales in the Bath Fittings business increased by 2.6%, rising to Rs 87.6 crore in Q3 FY25, compared to Rs 85.4 crore recorded in Q3 FY24. The PBDIT loss in Q3 FY25 was Rs 6.3 crore, compared to a loss of Rs 5.5 crore posted in the same period a year ago. The company's kitchen business sales rose by 2.7% to Rs 102.7 crore in Q3 FY25, up from Rs 100.1 crore in Q3 FY24. The business recorded a PBDIT loss of Rs 2.1 crore in Q3 FY25, compared to a profit of Rs 4.2 crore recorded in same quarter last year. The sales of White Teak in Q3 FY25 decreased by 22.8%, falling to Rs 26 crore, while sales at Weatherseal dropped by 14.1% to Rs 11.8 crore. The decline in sales was driven by weak seasonal demand. During the quarter, industrial business (Asian Paints PPG) sales remained flat at Rs 287.3 crore, compared to Rs 288.0 crore in the same period of the previous year, with PBT decreasing to Rs 24.1 crore from Rs 33.2 crore. Meanwhile, PPGAP sales increased by 5.9%, rising to Rs 610.1 crore from Rs 576.2 crore, while PBT grew to Rs 134.8 crore from Rs 128.0 crore in the corresponding period of the previous year. Amit Syngle, managing director & CEO of Asian Paints, said, 'The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centers. We registered a 6.6% decline in overall coatings business in India, including industrial. The domestic decorative businesses delivered a 1.6% volume growth while the standalone revenues declined by 7.5% for the quarter impacted by the weak festive season demand. While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year-on-year basis. The industrial business fared better, with revenues growing by 3.8%, supported by growth in the general industrial and refinish segments. We continued to see growth in our home decor business progressing on our network expansion journey. On the international side, the portfolio registered 5% growth (17.1% in constant currency terms), driven by growth in the Middle East and recovering macro-economic conditions in key Asian markets. In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation and customer centricity.' 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 d'cor, bath fittings and providing related services. Powered by Capital Market - Live

Asian Paints will hold a meeting of the Board of Directors of the Company on 4 February 2025.Powered by Capital Market - Live

Vishu Goel, associate vice president, retail sales, commercial & marketing and Shyam Swamy, vice president, home improvement, d'cor, services & retailing has resigned from the services of the company. The company's board has approved the appointment of Ashish Rae, currently associate vice president - project sales as associate vice president - retail sales, marketing & commercial with effect from 2nd January 2025. Furthermore, Gagandeep Singh Kalsi, associate vice president - strategy, business development will also handle D'cor and Services with effect from 23rd December 2024. 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 d'cor, bath fittings and providing related services. 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.Powered by Capital Market - Live

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 adavcned 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, reflePowered by Capital Market - Live