Asian Paints Limited is India’s largest paint and home décor company, with a dominant market share of over 55% in the decorative paints segment. Headquartered in Mumbai, it operates under iconic brands like Asian Paints, Apcolite, Royale, and Apex, while also expanding into adjacent categories such as waterproofing, adhesives, modular kitchens, sanitaryware, and lighting through its wholly-owned subsidiary, Asian Paints Premium. Despite being a market leader, the company has faced headwinds in recent quarters due to weak consumer demand, high raw material costs, and a slowdown in the real estate and infrastructure sectors. As of January 2026, it remains a high-quality business with strong brand equity, pricing power, and consistent cash flows—but trades at a premium valuation that demands flawless execution. This article provides a data-driven outlook on the Asian Paints share price target 2026–2030.
Asian Paints: Company Overview
- Founded: 1942
- Managing Director: Amit Syngle
- NSE Symbol: ASIANPAINT
- Core Business Segments:
- Decorative Paints (75%)
- Industrial Coatings (15%)
- Home Improvement & Décor (10%)
- Market Position: #1 in India; among the top 10 global paint companies by revenue
Asian Paints has built an unassailable moat through its distribution network (over 650,000 retail outlets), R&D capabilities, and customer loyalty. It is also expanding internationally across 15+ countries, including Sri Lanka, Bangladesh, and the Middle East.
Asian Paints: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹2,757 |
| Market Capitalization | ₹2,64,441 Cr |
| No. of Shares Outstanding | 95.92 Cr |
| 52-Week High / Low | ₹3,104 / ₹2,125 |
| P/E Ratio (TTM) | 68.54 |
| P/B Ratio | 13.88 |
| EPS (TTM) | ₹40.22 |
| Book Value (TTM) | ₹198.60 |
| ROE | 19.29% |
| ROCE | 26.91% |
| Dividend Yield | 0.90% |
| Face Value | ₹1 |
| Cash | ₹202.28 Cr |
| Debt | ₹39.40 Cr |
| Promoter Holding | 52.63% |
Asian Paints Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹2,850 – ₹3,100 |
| 2027 | ₹3,000 – ₹3,350 |
| 2028 | ₹3,150 – ₹3,600 |
| 2029 | ₹3,300 – ₹3,850 |
| 2030 | ₹3,450 – ₹4,100 |
Asian Paints Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹2,850 | ₹3,100 |
Asian Paints reported a 32.55% YoY decline in profit in FY2025 due to weak volume growth, elevated input costs (titanium dioxide, resins), and muted rural demand. However, its ROCE of 26.91% and net debt-free status reflect underlying operational strength. Trading at a P/E of 68.5x, the stock is richly valued—justified only if earnings rebound strongly. A 2026 target range of ₹2,850–₹3,100 assumes modest recovery in sales (3–5% growth) and margin stabilization.
Asian Paints Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹3,000 | ₹3,350 |
If the company sustains 8–10% earnings growth and benefits from housing demand revival, EPS could reach ₹42–₹44 by FY27. Assuming a P/E of 68–70x, the 2027 target range of ₹3,000–₹3,350 is justified.
Asian Paints Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹3,150 | ₹3,600 |
By 2028, benefits from premiumization, export growth, and new product launches (e.g., smart coatings, eco-friendly paints) should reflect in margins. A P/E of 70–72x on projected EPS of ₹44–₹47 supports the ₹3,150–₹3,600 band.
Asian Paints Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹3,300 | ₹3,850 |
Long-term tailwinds include India’s housing boom, urbanization, and rising disposable income. If competition doesn’t erode pricing, EPS could reach ₹46–₹49 by FY29. At a P/E of 70–73x, the 2029 target is ₹3,300–₹3,850.
Asian Paints Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹3,450 | ₹4,100 |
Over a five-year horizon, Asian Paints’ appeal lies in brand moat + pricing power—not volume explosion. If ROE stays above 18% and dividends grow consistently, investor confidence will strengthen. A terminal P/E of 72–75x on FY30 EPS (~₹46–₹50) justifies the ₹3,450–₹4,100 range.
Asian Paints: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters | 52.63% |
| Public & Retail | 14.16% |
| Domestic Institutional Investors (DII) | 21.58% |
| Foreign Institutional Investors (FII) | 11.64% |
High promoter holding ensures strategic continuity. Strong institutional ownership (33%) reflects analyst coverage and liquidity.
Asian Paints: Strengths vs Risks
Strengths:
- Unmatched brand and distribution in paints
- Debt-free balance sheet with ₹202 Cr cash
- High ROCE (26.91%) and pricing power
- Diversification into high-margin home improvement
Risks:
- Very high P/E leaves little room for execution misses
- Negative sales growth (-5.36% YoY) raises near-term concerns
- Low dividend yield (0.90%) limits income appeal
- Contingent liabilities of ₹1.2 lakh Cr require monitoring
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Moderate |
| Ideal Time Horizon | 5+ years |
| Volatility | Lower than market average |
| Dividend/Income Potential | Low yield (0.90%) but reliable |
| Best For | Quality-focused investors betting on India’s consumption story |
FAQs
Why is Asian Paints falling?
Despite strong fundamentals, the stock has underperformed due to:
- Weak volume growth (-5.36% YoY)
- High input costs compressing margins
- Premium valuation (P/E: 68.5x), leaving no margin for error
However, management expects demand recovery in H2 FY26, supported bythe festive season uptick.
What is the price target of Asian Paints?
Based on fundamentals and sector trends, the Asian Paints share price target 2for 026 is ₹2,850 – ₹3,100.
What is the 10-year return on Asian Paints stock?
Asian Paints delivered a CAGR of ~12% over the past 10 years (2016–2026). Returns were highly volatile—rising 150% between 2016 and 2021, then falling 25% from 2021 to 2026 due to valuation compression.
What is the dividend of Asian Paints 2025?
For FY2025, Asian Paints declared a final dividend of ₹24.80/share, taking the total annual dividend to ₹24.80 (interim + final). At current prices, this implies a dividend yield of 0.90%.
Final Verdict
Asian Paints remains India’s premier paint company with unmatched scale, brand, and execution. However, its current valuation offers limited margin of safety. The stock is not a “buy” for value or income investors—but remains a core holding for those with a 5+ year horizon who believe in India’s long-term consumption and housing growth.
Our Asian Paints share price target 2026–2030 (₹2,850 to ₹4,100) reflects cautious optimism—rooted in brand strength, not explosive growth. Upside is capped by valuation; downside is cushioned by ROCE and cash flows.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Asian Paints Consolidated Page (FY2025 + TTM)
- Moneycontrol – ASIANPAINT Stock Quote & Financials
- Asian Paints Stock Profile
- Asian Paints Investor Presentation (Q2 FY26, Jan 2026)
