Asian Paints Q4 Results: Net Profit after Minority Interest Increased by 1.8% YoY

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Asian Paints Q4 FY2023-24 results, released on 9 May 2024, showed a quarter of an increase in Net Profit by 1.8% YoY and an improvement in Gross Margins by about 120 basis points, though Net Sales witnessed a marginal decrease YoY.

5 Key Financial Highlights

Asian Paints’ Q4 results, against the backdrop of its yearly FY24 milestone crossing of ₹35,000 Cr Revenue, may appear somewhat subdued. However, there are some bright spots in the result, and these 5 key financial metrics will give you a clue of the popular paint maker’s performance in Q4 FY24: 

  • Net Profit (after minority interest) went up by 1.8% YoY and reached ₹1,256.7 Cr from ₹1,234.1 Cr in the same quarter of the previous fiscal year

  • Consolidated Net Sales decreased by 0.6% YoY, to ₹8,701.5 Cr from ₹8,750.8 Cr in Q4 FY23

  • Q4 experienced an improvement in Gross Margins by about 120 basis points (YoY) relative to Q4 FY’23 

  • PBDIT (Profit before depreciation, interest, tax, other income, and exceptional items) decreased by 9.3% to ₹1,691.4 Cr from ₹1,864.8 Cr; PBDIT Margin as % to Sales in Q4 FY24 was at 19.4% compared to 21.3% in the corresponding period of the previous fiscal year

  • Profit before exceptional items and tax decreased by 6.4% YoY to ₹1,624.1 Cr from ₹1,734.5 Cr in the same quarter of the last fiscal year

Explore: Asian Paints Share Price

A Colourful Asian Paints Q4 Result

Among the leaders in the segments of industrial and decorative paints in India, Asian Paints has carved out a niche to make a name for itself and cope amidst competitive market headwinds in Q4 FY24. In Asian Paints Q4 results, there are some bright spots, like double-digit volume growth in the quarter, indicating that the iconic paint manufacturer is on the right business track. Here are vital aspects of the Company’s overall performance in Q4 FY24: 

  • The India Decorative Business clocked volume growth of 10% with Revenue decline of 1.8% in Q4 FY’24, as Revenue was impacted by weak demand conditions and downtrading;  Q4 FY’24 witnessed price cuts across product categories, curbing Revenue growth

  • The Domestic Coatings Business registered Revenue decline of 0.7% in Q4 FY’24, although the Industrial Business delivered a strong quarter  and the Automotive Coatings Business crossed the ₹2,000 Cr Revenue mark in FY24

  • The Home Décor Business continued to witness gains from synergies with the Company’s Beautiful Homes stores 

  • In terms of the International Business, this registered a boost in profitability in Q4 and FY24; but Revenue growth was limited by macro-economic headwinds in the main markets of Nepal and Egypt 

  • The Company has consistently maintained a dividend payout, with a total dividend of ₹33.30 per share; a payout of 60% for the year

Additional Read: Quarterly Results

Key Financial Metrics - Consolidated Q4 (FY2023-24) Financial Results of Asian Paints (in ₹ Crore)


Q4 FY24

Q4 FY23

% Change YoY

Net Sales








Profit Before Exceptional Items and Tax




Net Profit




Basic EPS




Diluted EPS




Brush Strokes of Success into FY25

With Asian Paints’ Q4 results, the Company is all set to tackle FY25 with gusto in its operations, being the leader in the integrated Home Decor segment. The Decorative & Industrial Coatings combined businesses have delivered a robust volume growth of 10% and a value growth of 3.9% for FY24, with the Industrial segment pegging value growth in double digits. The Company has made progress in the last fiscal year and in Q4 in terms of new launches and healthy double-digit growth due to lows in material costs and the expansion of the Home Decor footprint. Going into FY25, Asian Paints will continue with its effective formulation and sourcing efficiencies and gain traction with expansion plans. Furthermore, with a favourable monsoon forecast, the Company estimates an uptick in demand in FY25’s initial quarters. 

Additional Read: SBI Q4 Results


Asian Paints Q4 results have been quite favourable for the Company, with the global business in Africa and the Middle East picking up in the year and in Q4. While the Company remains one of the largest players in the Paint industry on the domestic front, it has faced some competition. Noneletheless, with its stress on innovation and branding, it plans to make good headway in FY25. 

Additional ReadHindustan Petroleum Q4 Results

About Asian Paints

One of the leading players in India’s paint industry, Asian Paints is now one of the top Home Decor companies in the country. Ranked among the world’s leading 8  and coatings companies, it boasts a consolidated turnover of ₹35,382 Cr with a market capital of approximately ₹2,730 billion. Asian Paints and its various subsidiaries carry out operations in 15 countries and the Company owns  27 paint manufacturing plants, servicing over 60 countries through Asian Paints, Asian Paints Berger, Apco Paints, Asian Paints Causeway, Taubmans, SCIB Paints, and Kadisco Asian Paints.

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Frequently Asked Questions

What was the Net Sales reported in Asian Paints Q4 results?

Answer Field

The Consolidated Net Sales as per Asian Paints Q4 results, decreased by 0.6% YoY, to ₹8,701.5 Cr from ₹8,750.8 Cr in Q4 FY23.

What is the result of Asian Paints Q4?

Answer Field

In its Q4 results, Asian Paints witnessed a decrease in its Net Sales, although certain segments of the business experienced growth. The Net Profit for Q4 increased marginally by 1.8% YoY.

What is the future outlook for Asian Paints after the release of its Q4 results?

Answer Field

After the release of Asian Paints Q4 results, the Company has an optimistic outlook for the next fiscal year FY25, estimating a favourable demand with a promising monsoon forecast and an uptick in rural business and B2B business. 


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