Asian Paints Limited reported strong financial results for the quarter ended September 30, 2025 (Q2 FY26), beating street estimates on both profitability and volume growth. The company delivered a healthy 10% volume growth, surpassing analysts’ expectations of 5%, supported by improved demand recovery in both urban and rural markets.
Robust profit growth and margin expansion
The company’s consolidated net profit surged 43% year-on-year (YoY) to Rs 994 crore, compared to Rs 694 crore in the corresponding quarter of FY25.
Revenue from operations stood at Rs 8,531 crore, registering a 6.3% YoY rise from Rs 8,028 crore, led by steady demand in decorative paints and premium product categories.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 21.3% YoY to Rs 1,503 crore, as against Rs 1,240 crore a year ago. The company’s EBITDA margin improved by 240 basis points to 17.6%, compared to 15.2% in Q2 FY25, driven by efficient cost management and better product mix.
Segmental and operational highlights
Asian Paints attributed its strong quarterly performance to broad-based growth across domestic decorative and industrial segments. The festive season buildup and restocking from rural distributors further aided demand momentum. Additionally, the company maintained strong pricing discipline amid moderating input costs.
Key metrics (Rs crore)
| Metric | Q2 FY26 | Q2 FY25 | YoY Change |
|---|---|---|---|
| Revenue | 8,531 | 8,028 | +6.3% |
| EBITDA | 1,503 | 1,240 | +21.3% |
| EBITDA Margin | 17.6% | 15.2% | +240 bps |
| Net Profit | 994 | 694 | +43% |
| Volume Growth | 10% | — | vs 5% estimate |
Outlook
With raw material inflation largely under control and festive-driven demand expected to sustain in Q3, Asian Paints remains well positioned to maintain its growth trajectory. The company continues to strengthen its supply chain and product innovation pipeline, which should support long-term margin stability.
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