Large cap paints sector company Asian Paints shares settled at Rs 2276.00 per share after decline of 3.41% intraday on Bombay Stock Exchange (BSE). The scrip declined 32.94% from its 52-week high price of Rs 3394 per share if today’s last trading price (Rs 2276 apiece) is taken into consideration. The paint stock has a market capitalisation of Rs 2,18,313.42 crore. Meanwhile, its return on equity (ROE) stood at 23.18%.
Asian Paints share witnessed surge of 2.43% in last 1-week and tumbled 26.49% in last 6-months. Several global and domestic brokerage firms issued fresh target price for the stock after it declared financial results. Check details below:
Asian Paints Q3 Results
The company on February 4, 2025 declared a decline of 23% in its net profit to Rs 1128 crore for the quarter ended December 31, 2024 as a result of sluggish festival demand. It had declared its net profit at Rs 1475 crore for the corresponding quarter of last year. The leading paint maker announced a dip of 6% in its revenue at Rs 8,549 crore for Q3 FY2025 as compared to Rs 9,103 crore in the similar quarter of last year. Sequentially, the company’s net profit surged 63% from Rs 693.7 crore declared in the 2nd quarter of FY25.
According to the company’s BSE filing, “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.”
Should You Buy, Sell, or Hold Asian Paint Shares Post Q3?
Brokerage firm Nuvama assigned buy call with slashed target price of Rs 3000. The earlier target price was Rs 3185 apiece. Goldman Sachs has sell call on Asian Paint stock with target price of Rs 2275 per share. CLSA maintained underperform call on the stock with price target of Rs 2047.
Meanwhile, global brokerage firm Jefferies assigned underperform call with target price of Rs 2000. Jefferies anticipates margin to stay between 18% to 20% in the medium term and expects demand to recover in a gradual manner. The analyst has cut the EPS estimates by 4% to 8%. On the other hand, Macquarie has outperform call on the leading paint stock.
Asian Paints Shares Performance
The 52-week high price of Asian Paints shares on BSE is Rs 3394.00 per share (as on 16/09/2024) and 62-week low price is Rs 2208.90 per share (as on 16/01/2025), respectively. Asian Paints shares climbed marginally by 0.57% in last 2-weeks, slipped 21.21% in last 3-months, fell 21.99% in last 1-year, and rallied 21.54% in last 5-years. In last 10-years, Asian Paints stocks gained 180.74%.
About Asian Paints
It came into existence in 1945. Asian Paints manufactures a wide range of paints for decorative and industrial use and also offers water proofing, adhesives and services under its portfolio. The company is also present in the Home Decor segment and offers Modular kitchens and wardrobes, Bath fittings and sanitaryware, Decorative lightings, uPVC windows and doors, wall coverings, Furniture, Fabric & Furnishings and Rugs, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of Axis Direct. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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