Asian Paints Ltd. · NSE:ASIANPAINT
Asian Paints — Q2 FY27 Earnings Presentation
31 slides from Asian Paints's earnings presentation, Oct 29, 2026
Slide 1: Exchange intimation: Investor Presentation under Regulation 30
APL/SEC/57/2026-27/42 29th October 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: Intimati
Slide 2: Investor Conference Q2 and H1 FY27 Results
Investor Conference Q2 and H1 FY27 Results
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
Key Growth Initiatives 01 02 03 Innovation for Massive Upsurge Differentiation and Services Ignition on Brand Building Premiumization 04 05 06 Regional Market Widening the Net Backward Integration Ignition in B2B 4
Slide 6: Bigg Boss Tie-Up Scaled to Five Regional Markets
Bigg Boss Tie-Up Scaled to Five Regional Markets NEW LAUNCH BI GG BO SS PARTNERS HI P Regional Shade Guides Beautiful Homes Colour guides in Bangla, Telugu, Tamil and Malayalam Brings our vision of personalisation and regionalisation to life I N THE BI GG BO SS HO USE Key Offerings Showcased Our sel
Slide 7: Regional Campaigns Deepen Consumer Connect
Regional Campaigns Deepen Consumer Connect Localised campaigns celebrating regional language, art and culture across states KARNATAKA | Apex & Apex Shyne CHHATTISGARH | Apex GUJARAT | Royale UTTAR PRADESH | Apex Shyne ANDHRA PRADESH | Woodtech PU 6
Slide 8: Apcolite Premium Satin, Now with PU: Best-in-Class Washability
Apcolite Premium Satin, Now with PU: Best-in-Class Washability WHAT THE UPGRADE DELIVERS Walls Wood Metal PU Satin Finish Stain Guard Anti-Fungal Shield Multi-Surface Best-in-class, silky- Advanced Stain Guard; Biopack in the emulsion One satin finish for smooth satin sheen everyday marks wipe guard
Slide 9: Rust Shield PU Campaign Highlights Lasting Shine
Rust Shield PU Campaign Highlights Lasting Shine Superior Strength Rich Gloss Finish 4-Years Warranty Brush & Spray Durable, long-lasting Smooth, premium sheen Rust protection Suitable for both protection applications *T&C apply Watch the commercial 8
Slide 10: Services as a Differentiator
Services as a Differentiator 01 02 Our flagship direct-to-consumer service Timely completion Tailored colour guidance Service specializing in preventive Dedicated supervision maintenance of large factories Tech Integration further driving Customer Delight Comprehensive assessments • AI Visualizer –
Slide 11: New Campaign for BHPS: Take the Hassle Out of Painting
New Campaign for BHPS: Take the Hassle Out of Painting ON-TIME COMPLETION HASSLE-FREE SERVICE AI COLOUR VISUALIZER or 20% money-back* Mechanised tools on site In-app colour consultation PLUS EXPERT ASSURANCE AT EVERY STAGE THE CREATIVE IDEA Site inspection Dedicated supervision Scan-enabled warranty
Slide 12: Independence Day Campaign Links Colour to Identity
Independence Day Campaign Links Colour to Identity "Yeh Rang Hi Humara Asli Pata Hai" reinforces "5000+ Colours of Freedom" is a tribute to the The campaign celebrates the idea that our how colours often become a more powerful colours that shape India's homes and the homes reflect who we are express
Slide 13: B2B Gaining Strength From One Unified Platform
B2B Gaining Strength From One Unified Platform EDUCATIONAL CAMPUS INSTITUTIONAL LANDMARKS RESIDENTIAL VILLAS SPORTS CAMPUS GOVERNMENT INFRASTRUCTURE RESIDENTIAL BUILDINGS 12
Slide 14: Differentiated Formulations Fueling Next-level Tech Innovation
Differentiated Formulations Fueling Next-level Tech Innovation VAE plant, Dahej KEY DIFFERENTIATOR GenNext Green Technology leading to product innovation Strong Margin Benefit on relevant products once Phase 2 is on-stream 01 02 03 Unique Indigenous Across Products Green Chemistry leading to Next-ge
Slide 15: Resilient Volume Growth Despite Steep Price Hikes and Festive Season Timing
Resilient Volume Growth Despite Steep Price Hikes and Festive Season Timing Volume Growth Decorative Business (India) 14
Slide 16: Resilient Volumes, Stronger Value Growth Through Q2 and H1
Resilient Volumes, Stronger Value Growth Through Q2 and H1 ■ Q2 FY27 vs ■ Q2 FY26 ■ H1 FY27 vs ■ H1 FY26 Decorative Business (India) 15
Slide 17: Industrial Momentum Lifts Overall Coatings Value Growth
Industrial Momentum Lifts Overall Coatings Value Growth ■ Q2 FY27 vs ■ Q2 FY26 ■ H1 FY27 vs ■ H1 FY26 Decorative Plus Industrial (India) 16
Slide 18: Q2FY27: Mid-teen Revenue Growth Led by Volume and Pricing
Q2FY27: Mid-teen Revenue Growth Led by Volume and Pricing ❑ Decorative Revenues up by 14.5%, driven by healthy volume growth of 6.4% and further aided by pricing actions ❑ Broad-based demand across geographies; rural sustained its lead over urban this quarter ❑ B to B business continues to do well.
Slide 19: From Surface Décor to Space Décor: Owning the Home
From Surface Décor to Space Décor: Owning the Home No. 1 Integrated Home Décor Player No. 1 in ~ 4% of Decorative Decorative Modular Kitchen, Kitchen Bath Fittings & Sanitaryware Fabrics & Furnishings Hardware & Components Lighting 74 Beautiful Revenue Homes Stores / Studio – One Stop Home Décor Des
Slide 20: Home Décor Business
Home Décor Business Kitchen Bath • Revenue up 13% in Q2FY27; 12% in H1FY27 • Revenue up 19% in Q2FY27; 7% in H1FY27 12% • PBT loss at ₹8 cr in Q2FY27 (₹3.6 cr loss in • PBT turned positive at ₹9 cr (₹4 cr loss in 7% Q2FY26); H1 loss at ₹8 cr (₹12 cr loss in Q2FY26); H1 at break-even (₹6 cr loss in 1
Slide 21: Strong Industrial Growth Continues; Lower Pass-Through Dents Margins
Strong Industrial Growth Continues; Lower Pass-Through Dents Margins PPGAP 24% ❑ Revenue up 33.7% to ₹795 cr in Q2FY27; Driven by Auto and 34% Industrial segments 8% 10% ❑ PBT up 9.9% to ₹113 cr in Q2FY27; PBT margin of 14.2%, lower by 309 bps APPPG 25% ❑ Revenue up 28.0% to ₹375 cr in Q2FY27; Drive
Slide 22: International Markets
International Markets Nepal Bangladesh Solomon Islands Bahrain 3 Vanuatu 5 1 33 1 3 Fiji 4 2 Qatar Egypt Oman 7 6 7 6,7 UAE Sri Lanka Samoa Ethiopia Map not to scale BRANDS 1 2 3 4 5 6 7 21
Slide 23: Premium Launches Across Sri Lanka and the Middle East
Premium Launches Across Sri Lanka and the Middle East Royale Infinity | Sri Lanka Ultima Lamino | Sri Lanka Majestic | UAE, Bahrain, Oman & Qatar LUXURY EXTERI O R I N TERI O R EMU L SI O N EMULSI O N Advanced Outstanding waterproofing hiding power Luxury benchmark Premium positioning 01 01 01 Exten
Slide 24: International Business
International Business 28% 11% 30% 39% 31% 24% 40% 24% 24% 45% 35% 3% 31% 63% 59% 29% 36% 32% 21% 24% Note: All figures in columns in ₹ cr Key Highlights ❑ Revenue up 30% to ₹1,096 cr in Q2FY27; Constant currency growth of 23.7% • Strong growth registered across all regions • Growth led by units in
Slide 25: Standalone Gross Margin Trend
Standalone Gross Margin Trend Gross margin moderated to 40.3% as higher-cost inventory flowed through after steep inflation in Q1 FY27 Calibrated pricing interventions (~12%) partially offset the impact; Continued efforts on driving sourcing and formulation efficiencies limiting the impact of inflat
Slide 26: Summary Standalone Financials
Summary Standalone Financials • Net Sales growth of 14.8% to ₹8,424 cr led by volume and 15% aided by pricing actions • Gross Margin at 40.3%, down 339 bps yoy. Impacted by steep inflation and lower price pass-through 6% • PBDIT growth of 5.9% to ₹1,440 cr 14% 15% 6% • PBDIT margin at 17.1%; Lower b
Slide 27: Summary Consolidated Financials
Summary Consolidated Financials 17% • Net Sales growth of 16.9% to ₹9,954 cr due to elevated growth trajectory across all businesses • Gross Margin at 39.6%; lower by 349 bps yoy 8% 6% 4% • PBDIT growth of 3.6% to ₹1,557 cr 7% • PBDIT margin at 15.6%; lower by 202 bps yoy • PAT before minority inter
Slide 28: Dividend Distribution
Dividend Distribution FY26 Dividend Build-up H1 FY27 Total Dividend ₹27.50 Interim Dividend ₹5.75 2750% 575% Final 2300% ₹23.00 • Dividend Per Share increase is 27.8% while H1 PAT grew by 25.1% • Dividend Payout Ratio broadly similar – Interim 450% ₹4.50 21.4% in H1FY27 vs 21.0% in H1FY26 27
Slide 29: Outlook
Outlook ❑ Raw material inflation and supply chain volatility continue to weigh on gross margins while competitive intensity remains elevated, keeping the near-term operating environment challenging ❑ We will respond with differentiation – deepening consumer connect, investing behind brand building a
Slide 30: Strong ESG Framework: Progress on Sustainability Targets
Strong ESG Framework: Progress on Sustainability Targets Target 6.0x WATER NEUTRALITY Target 0.24 WATER NEUTRALITY 5.9x Reduce specific non-process water 0.44 Fresh water replenishment 8.9x 0.42 intensity (KL/KL) Target 83% NATURE POSITIVE Target 81% NATURE POSITIVE 70% Reduction in specific effluen
Slide 31: Thank You
THANK YOU