Asian Paints Reports 4.5 Percent Decline in Annual Revenue Amid Weak Demand

Asian Paints, a global leader in the coatings industry, announced its financial results for the fiscal year ending March 31, 2025. The company reported a consolidated annual revenue of ₹3379.7 crore (₹284.5 billion), reflecting a 4.5% decline year-on-year, while standalone revenue dropped 5.4% to ₹2942.1 crore (₹247.6 billion).

In Q4 FY2024, consolidated revenue decreased 4.3% to ₹832.96 crore (₹70 billion) due to weak demand, shifting consumer preferences toward lower-priced products, and intensified competition. Despite a 1.8% volume growth in decorative paints in India, revenue fell 5.2%. However, the industrial segment grew 6.1%, driven by strong performance in general industrial and automotive coatings.

The company’s standalone PBDIT margin dropped 210 basis points to 18.5%, while the consolidated margin declined 220 basis points to 17.2%.

CEO Amit Syngle highlighted persistent demand challenges and unfavorable product mix affecting profitability. While international revenue dipped 1.5%, it grew 6% at constant exchange rates, with strong performance in the Middle East and Asia, offset by macroeconomic hurdles in Africa. Syngle remains cautiously optimistic about recovery, leveraging brand strength and operational efficiency.

Founded in 1942, Asian Paints is India’s largest paint company and the world’s top 10 coatings manufacturer, with 27 factories across 15 countries.