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2025-10-15 02:42:24 pm | Source: Motilal Oswal Financial Services Ltd
Neutral Asian Paints Ltd For Target Rs. 2,500 by Motilal Oswal Financial Services Ltd
Neutral Asian Paints Ltd For Target Rs. 2,500 by Motilal Oswal Financial Services Ltd

* We model 1% revenue growth in 2Q as there is no meaningful improvement seen in the demand environment particularly in the urban markets. Extended rainfall has further impacted decorative paints segment.

* APNT aims to achieve single-digit volume and value growth in FY26E.

* Volume growth expected to be 5% in domestic decorative paints. The gap in volume and value growth is due to downtrading.

* We expect GP margin expansion of 170bp YoY to 42.5% on deflation in RM prices. EBITDA margin expected to improve 120bp YoY to 16.7% given higher operating costs.

 

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