November 17, 2024
Asian Paints second most valuable paints company in the world
Economy

Asian Paints Second Most Valuable Paints Company in the World

Asian Paints has risen to become the world’s second most valuable paints firm. The company’s market capitalization increased by 22% to US$ 43.7 billion at the end of December 31, compared to US$ 35.6 billion a year earlier. In terms of m-cap, it now ranks 450th in the world. On the BSE, the company’s stock ended the day 0.5% higher at Rs 3,382 per share.

By Kautilya / January 3, 2022

Asian Paints has risen to become the world’s second most valuable paints firm. The company’s market capitalization increased by 22% to US$ 43.7 billion at the end of December 31, compared to US$ 35.6 billion a year earlier. In terms of m-cap, it now ranks 450th in the world. On the BSE, the company’s stock ended the day 0.5% higher at Rs 3,382 per share.

The company reported a combined net profit of Rs 605.2 crore (US$ 81.34 million) for the quarter ended September, down 29% from the same period the previous year due to higher expenses and input costs. The company’s consolidated revenue from operations was Rs 7,096 crore (US$ 954.09 million) up 32% from Rs 5,350 crore (US$ 719.33 million) the previous year.

Analysts predict the Indian paint industry will outperform in terms of revenue growth, thanks to increased penetration, market share gains, and new product categories. Pricing power and fast growth potential are also anticipated to support gross margins and valuation multiples.

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