Asian Paints Limited has informed the Exchange about Transcript
ASIANPAINT · price
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Asian Paints reported a weak Q4 FY25 with volume growth of just 1.8% and value decline of 5.2%. For the full year, value fell 5.7% though volumes grew 2.5%. The decorative paints business suffered more than industrial, with weak urban demand while smaller towns did better. Industrial JVs with PPG remained healthy with PPGAP delivering 14.6% PBT margin for the year. Consolidated PBDIT margin came in at 17.8% for FY25, below the 18-20% guidance band. The company took impairment charges of Rs 77.8 crore on White Teak, Rs 83.7 crore loss on Indonesia divestment, and Rs 21.5 crore on Sri Lanka's Causeway Paints. Management maintained the 18-20% consolidated EBITDA margin guidance and aims for single-digit value growth in FY26, citing backward integration (white cement plant by June 2025, VAM/VAE plant by FY27) as future margin support.
Shareholders face a mixed picture: weak FY25 results and impairments have already been priced in, but sustained margin pressure from new competition remains a concern. The maintained margin guidance and dividend payout of 60% offer some support, though near-term growth visibility is limited until demand recovers in urban markets.