Asian Paints Ltd. (APNT), is engaged in the business of manufacturing, selling and distribution of paints and related products for home décor. APNT is the market leader in the Indian paint manufacturing industry.
OUTLOOK & VALUATION
We expect the competition intensity to continue in the near term and expect a recovery in demand from H2FY26 on account of festival season and post-monsoon season demand. We, therefore, revise our rating to HOLD from Reduce with a revised target price of Rs. 2,777, based on a P/E of 55x (~10% discount to its 5-year average) on FY27 EPS.