Asian Paints posts slight rise in Q3 FY26 revenue

Asian Paints Ltd posted modest revenue growth for the quarter ended December 31, 2025 (Q3 FY26), while profits stayed largely steady amid stiff competition and soft demand in the domestic market.

The company’s consolidated revenue from operations reached Rs 8,867 crore in Q3 FY26, marking a 4.4% year-on-year rise from Rs 8,494 crore in the same quarter last year. Sequentially, revenue increased 3.9% from Rs 8,531 crore in Q2 FY26.

Profit after tax attributable to owners stood at Rs 1,060 crore, slightly up from Rs 1,054 crore in the previous quarter, indicating an almost flat quarter-on-quarter performance. However, profits fell on a yearly basis compared to Rs 1,110 crore reported in Q3 FY25.

Profit before tax for the quarter was Rs 1,489 crore, versus Rs 1,518 crore in the year-ago quarter and Rs 1,392 crore in Q2 FY26.

For the nine months ended December 31, 2025, Asian Paints recorded consolidated revenue of Rs 26,836 crore, up from Rs 25,547 crore in the corresponding period last year. Net profit attributable to owners during the nine-month span came in at Rs 3,153 crore, compared with Rs 2,975 crore a year earlier.

India decorative business posts strong volume growth
The India decorative paints segment continued to deliver volume-driven growth, with volumes rising 7.9% during the quarter. Overall coatings revenue grew 4.4% in Q3 FY26, while decorative paints revenue increased 2.8%.

The company noted that consistent execution of growth initiatives, brand investments, and retail-focused measures helped sustain performance, even as the broader market grappled with intense competition and subdued demand.

Industrial coatings and international markets support growth
The industrial coatings business recorded strong double-digit growth in the quarter, boosting overall coatings results.

Asian Paints’ international operations posted 6.3% revenue growth, driven by stable performance in major markets such as the UAE, Sri Lanka, and Ethiopia.

Cost discipline supports margins
Asian Paints stated that tight cost controls, backward integration efforts, and operational efficiencies allowed it to increase brand investments while also enhancing operating margins during the quarter.

Commenting on the results, Amit Syngle, Managing Director and CEO of Asian Paints Ltd, said the company achieved its third straight quarter of healthy volume growth in the India decorative segment despite a tough external environment.

He added that the company ramped up brand-building initiatives, rolled out strong retail programs, and launched a broad portfolio of innovative products and services.

Syngle further said Asian Paints will maintain its focus on differentiated strategies, technology adoption, and agility to sustain growth momentum and generate long-term value for stakeholders.