Slides
Page 1
Investor Conference Q3 and 9M FY26 Results
Page 2
Delivering joy since 1942.. We exist to Beautify, Preserve, Transform all Spaces and Objects, bringing happiness to the World!
Page 3
Disclaimer This communication, except for the historical information, may contain statements which reflect the Management’s current views and estimates and could be construed as forward-looking statements. The future involves many risks and uncertainties that could cause actual results to differ materially from the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange and commodity price fluctuations, competitive product and pricing pressures and regulatory developments.
Page 4
Massive Upsurge on Brand Building Dialed up Innovation Quotient Regional Market Ignition Widening the Net in B2B Services Ignition Backward Integration Persistent Actions on Key Growth Initiatives driving Momentum 1 2 3 4 5 6
Page 5
Asian Paints x BCCI Partnership: Official Colour Partner to Team India Asian Paints partners with BCCI as Team India’s Official Colour Partner for three years
Page 6
Asian Paints x BCCI Partnership: Official Colour Partner to Team India Asian Paints partners with BCCI as Team India’s Official Colour Partner for three years, driving colour-led fan engagement through activations like ColourCam and Colour Countdown across 110+ matches
Page 7
Celebration of Women’s Cricket with ‘Meri Wali Blue’ Link for Commercial Ad “Meri Wali Blue’ celebrates Asian Paints’ colour-led storytelling, fostering cultural pride and fan engagement around India’s iconic blue jersey
Page 8
Celebration of Knowledge: Celebrated 25 Years of Colours of Knowledge with KBC • Continued association with the 25th year of Kaun Banega Crorepati (KBC), one of India’s most enduring prime-time property • Presented a mural celebrating 25 years of KBC, themed “Colours of Knowledge” • Two distinctive on-show assets - Glitz Décor Corner and Wall of Legacy - delivering persistent visual presence
Page 9
Celebration of Pop: Asian Paints Lights Up Spotify I-POP • First-ever Asian Paints x Spotify I-POP collaboration • Immersive colour-driven experience for fans & Spotify Premium members • Mural inspired by music featuring 5,300+ Chromacosm shades • Photo booth made with the brand’s iconic paint buckets
Page 10
Asian Paints x Bigg Boss(South): Strategic Brand Integration • Royale Glitz branded zone featured inside Bigg Boss houses, showcasing Asian Paints’ premium décor • House construction integrated Asian Paints products; reinforcing brand presence • Task integrations highlighted Ace Emulsion & Tractor Emulsion South Regional Packs • Ultima Protek Graphene Ticket to Finale created a high-impact brand moment during the show Asian Paints partnered with Bigg Boss - Telugu, Kannada, and Tamil editions, for impactful brand integrations
Page 11
Introduced Apex Dust Proof Special Edition Pack - ‘Garv se Haryana’ A tribute to the unwavering spirit of Haryana - A state that stands tall through every season, every change Link for Commercial Ad
Page 12
Apex Ultima - Grandmaster of Tough Protection – New Campaign Powered by Graphene technology, stands as the ‘Grandmaster of Home Protection’ blending world-class science with a chess-themed campaign for intelligent defense against extreme weather Link for Commercial Ad • Graphene-powered lamination for unmatched strength and durability • Industry benchmark in exterior wall protection • 12-year performance warranty for long-term reliability • Superior resistance to rain, heat, humidity, and dust • Innovation-driven solution for modern homes
Page 13
Services as a Differentiator Highly-sophisticated, predictive asset- protection service for B2B ✓ Data-driven model to forecast corrosion ✓ Tailor-made maintenance solutions Our flagship direct-to-consumer service ✓ Timely completion ✓ Tailored colour guidance ✓ Dedicated supervision ✓ Tech Integration further driving Customer Delight • AI Visualizer – WOW in Shade Selection • AI led Supervision • AI NPS: Customer Delight Score Service aimed at partnering clients in executing waterproofing work ✓ Tailored and comprehensive solution ✓ End-to-end Project Management Service specializing in preventive maintenance of large factories ✓ Comprehensive assessments ✓ Expert execution 1 2 3 4
Page 14
Exploding the Paradigm of B2B Play Factories Hospitality Segment Government Strong growth in Factories and Government segments driving synergy across Coatings solutions and services
Page 15
Launched AP Assure: A Dedicated Digital Platform for B2B Professionals Redefining B2B engagement through innovation and customization • Industry-first B2B platform, delivering end-to-end solutions for construction chemicals and coatings • 80+ years of expertise in technology- led surface solutions for diverse sectors • System-based solutions across coatings, waterproofing, flooring, repair and admixtures • Data-driven & customized approach for smarter outcomes across B2B segments
Page 16
Resilient Volume Growth Momentum Decorative Business (India) 6.0% 11.6% 9.7% 7.1% -0.5% 1.6% 1.8% 3.9% 10.9% 7.9% Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26
Page 17
Strong Volume Growth in a Compressed Festive Season Decorative Business (India) 2.8% -5.8% 7.5% 2.4% Volume Gr% Value Gr% 9M FY25 9M FY26 1.6% -7.8% 7.9% 2.8% Volume Gr% Value Gr% Q3 FY25 Q3 FY26
Page 18
Acceleration in Industrial Segments; Elevating Overall Coatings Performance Decorative Plus Industrial (India) 1.7% -6.6% 8.3% 4.4% Volume Gr% Value Gr% Q3 FY25 Q3 FY26 3.0% -4.8% 7.7% 3.5% Volume Gr% Value Gr% 9M FY25 9M FY26
Page 19
Continued Momentum – Building on the Progress from Previous Quarter ❑ High-single digit volume growth despite a shorter festive period and impact of prolonged monsoon in certain regions ▪ Growth in Rural parts slightly ahead of the Urban centres ❑ All product categories contributing to the growth momentum ▪ Continued growth in PreLux portfolio, helping in improved realization ▪ Expansion in the Waterproofing portfolio, cementing category leadership ❑ Continued expansion of distribution footprint ❑ B to B Projects business leading the retail business especially in the areas of Factories and Government ❑ Further scale-up in Beautiful Homes Painting Services; AI-led Tech integration leading to better NPS ❑ Pushing the Innovation quotient ▪ New products contributed to ~16% of overall revenues
Page 20
Launched WoodTech PU Gold - Premium PU with Termite Shield • First-of-its-kind PU wood finish with termite-repellent technology for long-term wood protection • Superior Durability: Scratch, stain, and heat resistant for interiors; Weather-proof and UV-resistant for exteriors • Premium Finish Options - Matt, Glossy, Semi-Gloss and Sealer variants with luxurious aesthetic appeal • Hard, flexible film prevents cracking; excellent moisture and chemical resistance, outperforming melamine finishes • Outperforms melamine across interior and exterior applications
Page 21
Har Ghar Kuch Kehta Hai: From Surface Décor to Space Décor: Owning Homes Modular Kitchen, Kitchen Hardware & Components Bath Fittings & Sanitaryware Wardrobes and Vanities Fabrics & Furnishings Wall CoveringsFurniture RugsDecorative Lighting uPVC Windows and Doors No. 1 in Wallcovering & Textures ~ 4% of Decorative Revenue Collaborations with Sabyasachi, Jaipur Rugs, Sarita Handa No. 2 in Fabric & Furnishing No. 1 in Decorative Lighting No. 1 Integrated Home Décor Player 74 Beautiful Homes Stores / Studio – One Stop Home Décor Destinations
Page 22
Beautiful Homes Network expands to 74 Stores Asian Paints strengthens its integrated décor presence with the launch of a 15,000 sq. ft. Beautiful Homes luxury studio in Hyderabad, offering complete home solutions under one roof
Page 23
Home Décor Business Progressing towards Building a Profitable Home Décor Ecosystem Kitchen and Bath Business ❑ Kitchen: Revenue grew by 2.6% to ₹ 105 crs in the quarter ❑ PBT loss reduced in Q3 to ₹ 4 crs vs ₹ 5 crs last year ❑ Bath: Revenue for the quarter came in at ₹ 84 crs, lower by 4.1% ❑ However, achieved PBT breakeven from ₹ 7 crs loss LY ❑ White Teak: Revenue at ₹ 29 crs for the quarter was higher by 12.4% ❑ Weatherseal: Revenue at ₹ 19 crs for the quarter, higher by 58.6% White Teak and Weatherseal Business 29 19 76 55 White Teak Revenue Weatherseal Revenue Q3 FY26 9M FY26 105 84 301 252 Kitchen Revenue Bath Revenue Q3 FY26 9M FY26 Note: PBT is before exceptional items; Figures in columns in Rs. crs 3% 2% 4% 5% 12% 13% 59% 50%
Page 24
International Business Our Presence
Page 25
Steady Growth with Improved Profitability International Business ❑ Q3 growth of 6.3% in INR terms; constant currency growth of 4.2% • Growth was led by units in Sri Lanka, UAE and Ethiopia ❑ Significant improvement in profitability driven by material deflation and aided by divestment of loss- making operations in Indonesia ❑ PBT margin at 8.8% for the quarter; higher by 140 bps yoy 870 153 328 361 43 2,452 441 909 1,018 120 AP Global Overall Africa Middle East Asia South Pacific Net Sales Q3 FY26 9M FY26 77 16 31 32 6 191 46 62 89 21 AP Global Overall Africa Middle East Asia South Pacific PBT Q3 FY26 9M FY26 8% 6% 6% 2% 8% 7% 6% 12% 7% 26% 8% 22% 87% 36% 35% 10% 17% Note: PBT is before exceptional items; Figures in columns in Rs. crs
Page 26
Significant Growth Uptick in Industrial Segment Industrial Business PPGAP APPPG ❑ Revenue growth of 16.5% in the quarter; driven by Protective Coatings segment ❑ PBT margin at 8.0% for the quarter; lower by 40 bps yoy ❑ Revenue growth of 16.9% in the quarter; driven by Automotive & General Industrial segment ❑ PBT margin at 25.1% for the quarter; higher by 300 bps yoy 713 179 1,882 379 Net Sales PBT Q3 FY26 9M FY26 17% 14% 33% 20% 335 27 935 77 Net Sales PBT Q3 FY26 9M FY26 16% 10% 11% 7% Note: PBT is before exceptional items; Figures in columns in Rs. crs
Page 27
Sustained work on Sourcing & Formulation Efficiencies coupled with raw material deflation elevated Gross Margins despite lower mix and higher discounting Note: Gross Margin is computed as a % of Net sales Material Deflation ~0.2% Price Decrease ~1% Material Deflation ~1.8% Price Decrease ~2% Material Inflation ~1.8% Material Inflation ~1.5% Price Increase ~1.2% Material Deflation ~2.1% Price Increase ~0.4% Material Deflation ~1.5% Price Decrease ~0.4% Material Deflation ~1% Material Deflation ~1.6% 44.1% 44.2% 42.8% 41.0% 43.0% 44.9% 43.2% 43.7% 44.9% Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Material Deflation ~1.1%
Page 28
Summary Standalone Financials ❑ Net Sales growth of 2.9% despite a shorter festive season led by high single-digit volume growth ❑ Gross Margin at 44.9%; higher by 200 bps yoy primarily driven by deflation & efficiencies ❑ PBDIT growth of 7.8% on account of higher gross profits and continued cost optimization initiatives partially offset by intended investments behind brand building ❑ PBDIT margin at 21.4%; higher by 100 bps yoy ❑ PAT before exceptional items at Rs. 1,177 crs; growth of 6.6% Q3FY26 9MFY26 ❑ Net Sales growth of 2.3%; Growth momentum in Q2 & Q3 ❑ Gross Margin at 43.9%; higher by 170 bps yoy ❑ PBDIT growth by 6.6% ❑ PBDIT margin at 19.8%; higher by 80 bps yoy ❑ PAT before exceptional items at Rs. 3,232 crs; growth of 4.6% 7,384 3,208 1,509 1,476 1,104 7,602 3,439 1,627 1,581 1,025 Net Sales Gross Contribution PBDIT PBT* PAT Q3 FY25 Q3 FY26 3% 22,264 9,509 4,228 4,118 2,891 22,786 10,074 4,506 4,338 3,081 Net Sales Gross Contribution PBDIT PBT* PAT 9M FY25 9M FY26 7% 8% 7% 7% 2% 6% 7% 5% 7% *PBT is before exceptional items; Figures in columns in Rs. crs
Page 29
Summary Consolidated Financials Q3FY26 9MFY26 ❑ Net Sales growth of 3.9% yoy; supported by growth across all businesses ❑ Gross Margin at 44.3%; higher by 200 bps yoy ❑ PBDIT growth of 8.8% yoy ❑ PBDIT margin at 20.1%; higher by 90 bps yoy ❑ PAT before minority interest & before exceptional items at Rs. 1,216 crs; growth of 7.7% ❑ Net Sales growth of 3.2% ❑ Gross Margin at 43.3%; higher by 160 bps yoy ❑ PBDIT grew by 7.4% ❑ PBDIT margin at 18.7%; higher by 70 bps yoy ❑ PAT before minority interest & before exceptional items at Rs. 3,351 crs; growth of 5.6% 8,522 3,629 1,637 1,518 1,128 8,850 3,938 1,781 1,647 1,074 Net Sales Gross Contribution PBDIT PBT* PAT Q3 FY25 Q3 FY26 25,468 10,717 4,570 4,261 3,009 26,288 11,439 4,909 4,547 3,209 Net Sales Gross Contribution PBDIT PBT* PAT 9M FY25 9M FY26 4% 9% 9% 8% 5% 3% 7% 7% 7% 7% *PBT is before exceptional items; PAT is before Minority Interest; Figures in columns in Rs. crs
Page 30
Exceptional Items in Q3FY26 Financials ❑ On Consolidated Financials: Exceptional items of ₹ 157.61 crores in the Consolidated Financial Results for the quarter ended 31st December 2025 comprising of: • Impact of Labour Code: One-time expense of ₹ 63.74 crores towards increase in the gratuity liability by ₹ 52.88 crores and increase in the liability towards compensated absences by ₹ 10.86 crores. • Impairment Loss of ₹ 93.87 crores on ‘Intangibles’, recognised on acquisition of Obgenix Software Private Limited (‘White Teak’). ❑ On Standalone Financials: Exceptional item of ₹ 166.53 crores in the Standalone Financial Results for the quarter ended 31 st December 2025 comprising of: • Impact of Labour Code: One-time expense of ₹ 60.56 crores towards increase in the gratuity liability by ₹ 50.26 crores and increase in the liability towards compensated absences by ₹ 10.30 crores. • Impairment Loss of ₹ 105.97 crores based on assessment of the recoverable value of investment in Obgenix Software Private Limited (‘White Teak’). Note: On notification of the rules under Labour Codes, the Group/Company shall recognize additional impact, if any.
Page 31
Outlook for Q4 FY26 ❑ Endeavour to maintain growth momentum; Close watch on sustainability of demand ❑ Competitive intensity to remain elevated; Focused execution of key identified initiatives to drive competitive growth ❑ Enhanced traction from Industrial Segment to aid growth with continuity expected in infrastructure spending in upcoming budget ❑ International business to aid growth momentum ❑ Geopolitical uncertainty and exchange rate volatility remain key variables that may impact input prices
Page 32
Progress on Medium-Term Sustainability Targets Fresh Water Replenishment % Renewable Electricity % Recycled Plastic in Packaging 4.7x 7.8x 6.0x 58% 60% 100% 30% 30% 60% Renewable/bio-based Raw Materials in Products (%) Reduction in Scope 1 & 2 Emission/KL of Finished Product (%) Reduction in Specific Hazardous Waste/KL Finished Product (%) Trained at Asian Paints Beautiful Homes Academy(in lakhs) 6.8% 6.9% 30% 69% 69% 80% 9.5 6.7 10 Reduction in Specific Effluent Generated per KL of Finished Product (%) 79% 78% 81% 79% 83%74% Beneficiaries of Healthcare Initiatives (in lakhs) 9MFY2026 Progress Target for 2030Performance in FY2025 Asian Paints Sustainability Report FY'25 Water NeutralityNature Positive Product Stewardship Energy Conservation Employee Engagement Score (%) 78% 77% 80% Community OwnershipEnergising, Equitable & Inclusive Workplace 2.8 6.51.8
Page 33
Thank You