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Asian Paints Q3 Results FY24-25: Revenue Decreases by 553.43 Crore YoY, Net Profit Decreases by 346.73 Crore YoY

Asian Paints Q3 Results FY24-25: Projected 3.4% YoY Revenue Decrease


Asian Paints' Q3 results for FY24-25 have been released, showcasing a decline in both revenue and net profit. The company reported a 6.1% dip in revenue from ₹9,074.94 crore in Q3 FY23-24 to ₹8,521.51 crore in Q3 FY24-25. Net profit also witnessed a decline of 23.5%, falling from ₹1,475.16 crore in the same quarter last year to ₹1,128.43 crore this year. This decrease in performance highlights the pressures faced by the company during this quarter, despite the stable performance in certain business segments.

Key Highlights/Quick Insights of Asian Paints Q3 Results

  • Revenue from Operations: ₹8,549.44 crore in Q3 FY24-25, a decrease of 6.1% from ₹9,103.09 crore in Q3 FY23-24.

  • Net Profit: ₹1,128.43 crore in Q3 FY24-25, down 23.5% from ₹1,475.16 crore in Q3 FY23-24.

  • Cost of Materials Consumed: ₹3,740.75 crore in Q3 FY24-25, a reduction of 2.5% from ₹3,837.04 crore in Q3 FY23-24.

  • Employee Benefits Expense: ₹615.05 crore in Q3 FY24-25, an increase of 7.8% from ₹570.22 crore in Q3 FY23-24.

  • Depreciation and Amortisation Expense: ₹255.55 crore in Q3 FY24-25, up 15.9% from ₹220.35 crore in Q3 FY23-24.

Quarterly Asian Paints Q3 Results FY24-25  

In the third quarter of FY24-25, Asian Paints reported a decline in revenue from operations to ₹8,549.44 crore, down 6.1% from ₹9,103.09 crore in the same quarter of the previous fiscal year. Net profit also decreased to ₹1,128.43 crore, a 23.5% decline compared to ₹1,475.16 crore in Q3 FY23-24. The cost of materials consumed reduced by 2.5% to ₹3,740.75 crore, while employee benefits expense increased by 7.8% to ₹615.05 crore. Depreciation and amortisation expense rose by 15.9% to ₹255.55 crore.

Segment Highlights

International Business:

  • Sales increased by 5.0% to ₹818.0 crores in Q3 FY25 (₹779.1 crores in Q3 FY24).

  • Sales grew by 17.1% in constant currency terms.

  • PBT in Q3 FY25 was ₹60.8 crores, up from ₹58.3 crores in the previous year.

  • Sales at White Teak grew by 1.2% to ₹86.8 crores in 9M FY25.

  • Weatherseal sales increased by 1.1% to ₹36.5 crores in 9M FY25.

Industrial Business:

  • APPPG: Sales remained flat at ₹287.3 crores in Q3 FY25. PBT decreased to ₹24.1 crores.

  • Sales increased by 1.6% to ₹846.0 crores in 9M FY25, with a decline in PBT to ₹72.4 crores.

  • PPGAP: Sales increased by 5.9% to ₹610.1 crores in Q3 FY25. PBT rose to ₹134.8 crores.

  • PPGAP sales increased by 7.0% to ₹1,651.6 crores in 9M FY25, with PBT growing to ₹316.6 crores.

Home Décor Business:

  • Bath Fittings: Sales grew by 2.6% to ₹87.6 crores in Q3 FY25, but PBDIT loss increased to ₹6.3 crores.

  • Sales rose by 5.1% to ₹264.2 crores in 9M FY25, with a higher PBDIT loss of ₹13.4 crores.

  • Kitchen Business: Sales increased by 2.7% to ₹102.7 crores, but PBDIT loss shifted to ₹2.1 crores from a profit in the previous year.

  • Sales grew by 5.3% to ₹308.5 crores in 9M FY25, with a PBDIT loss of ₹1.4 crores.

  • White Teak & Weatherseal: White Teak sales declined by 22.8% to ₹26.0 crores, and Weatherseal sales fell by 14.1% to ₹11.8 crores due to weak seasonal demand.

Also read: Ambuja Cement Q3 Results FY24-25: Revenue at ₹9,329 Crore, Net Profit Doubles YoY

Sector expectations for Asian Paints Q3 Results FY24-25

The paint industry faced a subdued demand environment during the quarter, with domestic decorative coatings segment volumes declining marginally. Overall domestic coatings revenue declined by 5.5% for the quarter, impacted by muted consumer sentiments and extended rains and floods in some parts of the country. Operating margins were affected by price reductions taken last year, higher material prices, and increased sales expenses. While price increases were implemented during the quarter, the full impact is expected to reflect in the second half of the year. Margins are anticipated to recover in the coming quarters, supported by expected softening in material prices and recent price increases.

Management Commentary

Amit Syngle, Managing Director and CEO of Asian Paints, stated, “The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centers. We registered a 6.6% decline in overall coatings business in India, including Industrial. The domestic decorative business delivered a 1.6% volume growth while the standalone revenues declined by 7.5% for the quarter impacted by the weak festive season demand. While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year on year basis. The Industrial Business fared better with revenues growing by 3.8% supported by growth in the General Industrial and Refinish segments. We continued to see growth in our Home Décor Business progressing on our network expansion journey. On the International side, the portfolio registered 5% growth (17.1% in constant currency terms) driven by growth in the Middle East and recovering macro-economic conditions in key Asian markets. In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation and customer centricity.”

This information is sourced from BSE.

Financial Table – With All Major Metrices and Numbers (Consolidated)

Particulars

Q3 FY24-25 (₹ crore)

Q3 FY23-24 (₹ crore)

Income

  

Revenue from Sales

8,521.51

9,074.94

Other Operating Revenue

27.93

28.15

Revenue from Operations

8,549.44

9,103.09

Other Income

143.00

138.58

Total Income

8,692.44

9,241.67

Expenses

  

Cost of Materials Consumed

3,740.75

3,837.04

Purchases of Stock-in-Trade

1,007.98

1,017.10

Changes in Inventories

171.65

279.49

Employee Benefits Expense

615.05

570.22

Finance Costs

55.84

54.42

Depreciation and Amortisation

255.55

220.35

Other Expenses

1,377.28

1,343.15

Total Expenses

7,224.10

7,321.77

Profit Before Tax

1,518.16

1,967.78

Tax Expense

389.73

492.62

Profit for the Period

1,128.43

1,475.16

Note: All financial figures are sourced from Asian Paints’s official quarterly earnings report.

The financial data for Asian Paints Q3 FY24-25 results is sourced from BSE.

ASIAN PAINTS LIMITED

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Asian Paints Q3 Results FY24-25: Projected 3.4% YoY Revenue Decrease

Asian Paints is scheduled to announce its Q3 FY24-25 results on February 4, 2025. Analysts anticipate a 3.4% year-on-year decline in revenue, bringing it to approximately ₹8,797 crore, down from ₹9,103 crore in the same quarter last year. Net profit is projected to decrease by 22% year-on-year, reaching ₹1,131 crore compared to ₹1,448 crore in the corresponding quarter of the previous fiscal year.

Key Highlights:

  • Revenue: Expected to decline by 3.4% YoY to ₹8,797 crore.

  • Net Profit: Projected to decrease by 22% YoY to ₹1,131 crore.

  • EBITDA: Anticipated to grow by 23% YoY.

  • Volume Growth: Muted urban demand and increased competition may impact volumes.

Quarterly Performance Overview:

In the upcoming Q3 FY24-25 results, Asian Paints is expected to report a revenue of ₹8,797 crore, a 3.4% decrease from ₹9,103 crore in the same quarter last year. Net profit is projected at ₹1,131 crore, down 22% from ₹1,448 crore year-on-year. These declines are attributed to muted urban demand and a high base effect from the previous year.

Note: These figures are based on analyst estimates and are subject to change upon the official release of Asian Paints's financial results.

The financial data estimates for Asian Paints Q3 FY24-25 results are sourced from Money Control.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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