Asian Paints Ltd. · NSE:ASIANPAINT
Asian Paints — Q4 FY2026 Earnings Presentation
32 slides from Asian Paints's earnings presentation, May 29, 2026
Slide 1: Regulation 30 intimation to stock exchanges
APL/SEC/57/2026-27/5 29th May 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 Security Code: 500820 Symbol: ASIANPAINT Sir/Madam, Sub: Intimation un
Slide 2: Investor Conference Q4 and 12M – FY2026 Results
Investor Conference Q4 and 12M – FY2026 Results 1
Slide 3: Delivering joy since 1942
Delivering joy since 1942.. We exist to Beautify, Preserve, Transform all Spaces and Objects, bringing happiness to the World! 2
Slide 4: Disclaimer
Disclaimer This communication, except for the historical information, may contain statements which reflect the Management’s current views and estimates and could be construed as forward-looking statements. The future involves many risks and uncertainties that could cause actual results to differ mat
Slide 5: Key Growth Initiatives Driving Growth
Key Growth Initiatives Driving Growth 1 Massive Upsurge on 2 Dialed up 3 Services Brand Building Innovation Quotient Ignition 4 Regional Market 5 Widening the Net 6 Backward Integration Ignition in B2B 4
Slide 6: Asian Paints Damp Proof: The Real Waterproofing Champion
Asian Paints Damp Proof: The Real Waterproofing Champion Trusted solution delivering long-lasting protection from extreme monsoons and heat Thick and Seamless waterproofing membrane blocks seepage & weather damage Heat-reflective coating, that reduces surface temperature by up to 10°C 10-years
Slide 7: One Nation. One Emotion. One Anthem
One Nation. One Emotion. One Anthem Owning the emotion of cricket with the launch of Asian Paints’ Rang De India Cricket Anthem Link to the Cricket Anthem 6
Slide 8: Asian Paints × Cricket: Key Initiatives (FY 2025–26)
Asian Paints × Cricket: Key Initiatives (FY 2025–26) Leveraging cricket as a 360° cultural platform - combining BCCI partnership, IPL reach, fan-led innovations, women’s cricket storytelling and contextual product activations - to deepen brand relevance beyond traditional advertising Fan-led Innovat
Slide 9: ColourNext: South Asia's Most Authoritative Colour and Material Intelligence
ColourNext: South Asia’s Most Authoritative Colour and Material Intelligence Offering globally relevant insights grounded in cultural depth and design foresight Colour of the Year 2026: Wallpaper of the Year 2026: Moonlit Silk Zanskar 8
Slide 10: Eclipsia - A Signature Collection from Novacolor and Asian Paints
Eclipsia - A Signature Collection from Novacolor and Asian Paints Exclusively previewed at ColourNext 2026, inspired by the fleeting grace of an eclipse 9
Slide 11: The Architecture of Aspirations: 9th Season of 'Where the Heart Is'
The Architecture of Aspirations: 9th Season of ‘Where the Heart Is’ Key addition in the 9th season was the introduction of Lookbook A Lookbook that transforms inspiration into action, enabling viewers to interpret and apply aesthetics meaningfully in their own homes. 10
Slide 12: New Product Launches
New Product Launches Enhancing portfolio depth through differentiated product introductions PU wood finish with termite-repellent High-performance coating system Locks in paint and forms a strong technology which outperforms Melamine across for steel structures in industrial base to protect against
Slide 13: Lodhi Art Festival 2026
Lodhi Art Festival 2026 Concept: “Dilate All Art Spaces” – Expanding the idea of where art belongs — from galleries to everyday urban spaces. • Guided by the ethos of #Art for All Celebrating 10 years of India’s first public art district at Lodhi Colony, New Delhi • Led by St+art India Foundatio
Slide 14: Services as a Differentiator
Services as a Differentiator 1 2 Service specializing in preventive maintenance of large factories Comprehensive assessments Expert execution Our flagship direct-to-consumer service 3 Highly-sophisticated, predictive asset- Timely completion protection service for B2B Tailored colour guidanc
Slide 15: Accelerating B2B Sales by Capitalizing on the Infrastructure Growth
Accelerating B2B Sales by Capitalizing on the Infrastructure Growth Factories Hospitality Segment Government Strong growth in Factories and Hospitality segments driving synergy across Coatings solutions and services 14
Slide 16: Decorative Business (India): Strengthened Volume Growth Momentum
Strengthened Volume Growth Momentum 12.4% 11.6% 10.9% Decorative Business (India) 9.7% 7.9% 7.1% 3.9% 1.6% 1.8% -0.5% Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 15
Slide 17: Decorative Business (India): Resurgent Q4FY26 growth
Resurgent Q4FY26 growth elevated FY26 Performance Q4 FY25 Q4 FY26 FY25 FY26 Decorative Business (India) 12.4% 10.2% 8.7% 4.3% 2.5% 1.8% -5.2% -5.7% Volume Gr% Value Gr% Volume Gr% Value Gr% 16
Slide 18: Decorative Plus Industrial (India)
Robust Industrial Segment Growth Amplified Overall Coatings Trajectory Q4 FY25 Q4 FY26 FY25 FY26 Decorative Plus Industrial (India) 12.7% 11.0% 9.0% 5.3% 2.8% 2.1% -4.1% -4.6% Volume Gr% Value Gr% Volume Gr% Value Gr% 17
Slide 19: Q4FY26 was an all-round performance
Q4FY26 was an all-round performance Witnessed improvement in demand conditions in a seasonally strong quarter Improvement in growth across rural and urban centers with rural being ahead of urban growth Improved offtake in PreLux portfolio led to increase in realizations B2B Projects business
Slide 20: Har Ghar Kuch Kehta Hai: From Surface Décor to Space Décor
Har Ghar Kuch Kehta Hai: From Surface Décor to Space Décor: Owning Homes No. 1 Integrated Home Décor Player No. 1 in ~ 4% of Decorative Decorative Modular Kitchen, Kitchen Bath Fittings & Sanitaryware Fabrics & Furnishings Lighting 74 Beautiful Revenue Hardware & Components Homes Stores / Studio – O
Slide 21: 74 Beautiful Homes Stores. 20 States. One Integrated Home Décor Vision
74 Beautiful Homes Stores. 20 States. One Integrated Home Décor Vision. Beautiful Home Stores are scaling the Home Décor Ecosystem and propelling the surface to space transition 20
Slide 22: Home Décor Business
Building a Profitable Home Décor Ecosystem Kitchen and Bath Business White Teak and Weatherseal Business Q4 FY26 FY26 Q4 FY26 FY26 2% 2% Home Décor Business 7% 400 42% 347 17% 99 4% 17% 25% 75 99 95 23 20 Kitchen Revenue Bath Revenue White Teak Revenue Weatherseal Revenue Kitchen: White Teak: Reve
Slide 23: Our Presence: International Business
Our Presence International Business 1 2 3 4 5 6 7 22
Slide 24: International Business: Resilient Growth with Improved Profitability
Resilient Growth with Improved Profitability Revenue Q4 FY26 FY26 9% Q4 growth of 11.0% in INR terms; constant currency 3,340 growth of 8.2% International Business 13% • Growth led by units in Sri Lanka, Egypt and UAE 7% 11% 7% 13% 1,410 24% 6% 1,223 • 1% 888 Despite impact from West Asia conflict
Slide 25: Industrial Business: Continued Growth Momentum
Continued Growth Momentum in Industrial Segment Q4 FY26 FY26 PPGAP 16% Revenue growth of 20.9% in the quarter; driven by 20% 2,468 General Industrial and Automotive segment 451 21% Industrial Business 22% 586 71 PBT margin at 12.2% for the quarter; higher by 10 bps yoy Net Sales PBT Q4 FY26 FY26
Slide 26: Quarterly progress in Gross Margin Trend throughout FY26
Quarterly progress in Gross Margin Trend throughout FY26 Gross margins improved on sourcing and formulation efficiencies and raw material deflation, despite mix impact and higher discounting Material Deflation Material Inflation Material Deflation Material Deflation ~1.8% Material Inflation ~1.5% ~2
Slide 27: Summary Standalone Financials Q4FY26 FY26
Summary Standalone Financials Q4FY26 Net Sales growth improved to 10.3% Q4 FY25 Q4 FY26 Gross Margin at 45.6%; higher by 70 bps yoy primarily driven by material deflation and cost efficiencies 10% 7,157 7,894 12% PBDIT growth of 26.0% benefitting from gross profit improvement 26% and continued
Slide 28: Summary Consolidated Financials Q4FY26 FY26
Summary Consolidated Financials Q4FY26 Q4 FY25 Q4 FY26 Net Sales growth of 10.8% yoy with all businesses contributing to growth 11% Gross Margin at 44.7%; higher by 100 bps yoy 9,228 8,330 13% PBDIT growth of 24.4% yoy 24% 34% 69% 3,672 4,143 PBDIT margin at 19.4%; higher by 210 bps yoy 1,43
Slide 29: Consistent Dividend Payout
Consistent Dividend Payout 59% 60% 60% 60% 60% 56% 51% 33.30 25.65 27.50 24.80 17.85 19.15 12.00 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Dividend (in ₹ per share) Dividend Payout Board has recommended final dividend of ₹23.00 per share (2300%) Interim dividend of Rs ₹4.50 per share (450%) declared in
Slide 30: Outlook for Q1FY27
Outlook for Q1FY27 Demand conditions continue to hold steady, though near-term macro volatility persists due to the inflationary risks linked to the West Asia conflict Endeavour to sustain the growth momentum through disciplined execution despite these uncertainties and amidst continued competit
Slide 31: Progress on Medium-Term Sustainability Targets
Water Neutrality Progress on Medium-Term Sustainability Targets Stewardship 4.7x 5.9x 6.0x 6.8% 7.0% 8.5% Product Fresh Water Renewable/bio-based Replenishment Raw Materials in Products (%) 58% 57% 100% Conservation Energy Reduction in Specific 79% 70% 83% % Renewable Electricity Hazardous Waste/KL
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