Asian Paints Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Operating Revenue	346,175	337,974	353,821	343,678	289,235	214,852
Other Revenue	320.3	620.4	554	622.6	583.9	183.6
Revenue	346,495	338,594	354,375	344,301	289,819	215,036
Revenue Growth (YoY)	1.25%	-4.45%	2.93%	18.80%	34.78%	7.15%
Cost of Revenue	197,779	197,090	202,611	213,183	184,342	122,048
Gross Profit	148,716	141,505	151,764	131,118	105,477	92,988
Selling, General & Admin	42,035	40,906	38,352	33,689	29,265	24,838
Other Operating Expenses	43,165	40,475	37,367	34,183	28,154	19,560
Operating Expenses	97,461	91,706	84,341	76,487	65,604	52,344
Operating Income	51,255	49,799	67,424	54,630	39,873	40,643
Interest Expense	-1,891	-2,270	-2,052	-1,445	-954.1	-916.3
Interest & Investment Income	2,005	2,005	1,901	1,343	1,079	751.3
Earnings From Equity Investments	1,634	1,407	1,330	938.5	315.7	286
Currency Exchange Gain (Loss)	-	-	-99	-611.9	379.8	98.2
Other Non Operating Income (Expenses)	2,603	1,807	2,586	1,154	1,056	937.8
EBT Excluding Unusual Items	55,607	52,747	71,090	56,009	41,749	41,800
Impairment of Goodwill	-1,868	-1,868	-	-246.6	-134.7	-
Gain (Loss) on Sale of Investments	1,824	1,824	2,296	1,206	768.9	936.1
Gain (Loss) on Sale of Assets	33.7	33.7	20.8	117.2	443.6	183.3
Asset Writedown	-1,303	-364.5	-	-	-	-
Other Unusual Items	-213.8	-1,378	50.2	-212.5	-979.6	32
Pretax Income	54,116	51,031	73,478	56,888	41,877	43,044
Income Tax Expense	15,015	13,934	17,901	14,935	11,029	10,976
Earnings From Continuing Operations	39,100	37,097	55,577	41,953	30,848	32,068
Net Income to Company	39,100	37,097	55,577	41,953	30,848	32,068
Minority Interest in Earnings	-646.7	-424.8	-974.6	-888.8	-542.4	-674.6
Net Income	38,454	36,672	54,602	41,065	30,306	31,393
Net Income to Common	38,454	36,672	54,602	41,065	30,306	31,393
Net Income Growth	-9.13%	-32.84%	32.97%	35.50%	-3.46%	16.05%
Shares Outstanding (Basic)	959	959	959	959	959	959
Shares Outstanding (Diluted)	959	959	959	959	959	959
Shares Change (YoY)	0.00%	-0.01%	0.01%	-0.02%	-0.01%	-
EPS (Basic)	40.11	38.25	56.95	42.83	31.60	32.73
EPS (Diluted)	40.11	38.25	56.94	42.82	31.60	32.73
EPS Growth	-9.12%	-32.82%	32.98%	35.51%	-3.45%	16.05%
Free Cash Flow	-	26,186	39,046	29,201	4,483	34,015
Free Cash Flow Per Share	-	27.31	40.72	30.45	4.67	35.46
Dividend Per Share	25.050	24.800	33.300	25.650	19.150	17.850
Dividend Growth	-22.68%	-25.53%	29.83%	33.94%	7.28%	48.75%
Gross Margin	42.92%	41.79%	42.83%	38.08%	36.39%	43.24%
Operating Margin	14.79%	14.71%	19.03%	15.87%	13.76%	18.90%
Profit Margin	11.10%	10.83%	15.41%	11.93%	10.46%	14.60%
Free Cash Flow Margin	-	7.73%	11.02%	8.48%	1.55%	15.82%
EBITDA	58,500	56,040	72,327	60,200	45,386	46,133
EBITDA Margin	16.88%	16.55%	20.41%	17.48%	15.66%	21.45%
D&A For EBITDA	7,245	6,241	4,903	5,570	5,514	5,490
EBIT	51,255	49,799	67,424	54,630	39,873	40,643
EBIT Margin	14.79%	14.71%	19.03%	15.87%	13.76%	18.90%
Effective Tax Rate	27.75%	27.30%	24.36%	26.25%	26.34%	25.50%
Revenue as Reported	353,480	344,782	361,827	348,751	294,813	220,158
Advertising Expenses	-	12,970	13,059	11,529	9,434	7,850

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.