Asian Paints Q3 Results: Cons profit slips over 4% YoY to Rs 1,060 crore; revenue up 3%

Asian Paints on Tuesday reported a 4.5% year-on-year (YoY) decline in net profit to Rs 1,060 crore for the third quarter of FY26, compared with Rs 1,110 crore in the same quarter last year. Revenue from operations, however, grew 3.7% YoY.

It should be noted that the net profit is attributable to the owners of the company.

The revenue from operations stood at Rs 8,867 crore for Q3FY26, as compared to Rs 8,549 crore recorded in the same quarter of last year.


Asian Paints reported exceptional items amounting to Rs 158 crore in its Q3 FY26 consolidated financials, primarily due to two significant one-time expenses.

The company incurred a Rs 64 crore cost related to the new Labour Code implementation, comprising Rs 53 crore towards increased gratuity liability and Rs 10.86 crore for compensated absences.

Additionally, it booked an impairment loss of Rs 94 crore on intangible assets following the acquisition of Obgenix Software Private Limited (White Teak).

The company’s PBDIT (Profit before depreciation, interest, tax, other income, and exceptional items) also saw healthy growth, climbing nearly 9% to Rs 1,781 crore from Rs 1,637 crore.

Operating profitability improved, with the PBDIT margin expanding to 20% of net sales, up from 19% in the corresponding period of the previous fiscal year.

Asian Paints Q3FY26 segment-wise highlights

International Business

Asian Paints’ international business recorded a 6.3% year-on-year increase in net sales to Rs 869.6 crore in Q3 FY26, driven by growth in Sri Lanka, the UAE, and Ethiopia. In constant currency terms, net sales rose 4.2%. Profit before exceptional items and tax stood at Rs 76.6 crore, up from Rs 60.8 crore in the year-ago period.

Home Décor Business

Bath fittings: Net sales in the bath fittings segment declined 4.1% year-on-year to Rs 84 crore in Q3 FY26. However, profit before exceptional items and tax turned positive at Rs 0.2 crore, compared with a loss of Rs 7.4 crore in the same quarter last year.

Kitchen business: Net sales in the kitchen segment rose 2.6% year-on-year to Rs 105.4 crore in Q3 FY26. Loss before exceptional items and tax reduced to Rs 4 crore from Rs 5.4 crore in the year-ago quarter.
White Teak and Weatherseal: Net sales at White Teak increased 12.4% year-on-year to Rs 29.2 crore in Q3 FY26, while Weatherseal’s net sales surged 58.6% to Rs 18.7 crore.

Industrial Business

APPPG segment: Net sales in the industrial powder coatings segment increased 16.5% year-on-year to Rs 334.7 crore in Q3 FY26. Profit before exceptional items and tax rose to Rs 26.7 crore from Rs 24.1 crore a year earlier.
PPGAP segment: Net sales in the protective and performance coatings business rose 16.9% year-on-year to Rs 713.3 crore in Q3 FY26. Profit before exceptional items and tax increased to Rs 179.2 crore from Rs 134.8 crore in the year-ago quarter.

Management commentary

“We had a third consecutive quarter of good volume growth with our India Decorative Business delivering a robust 7.9% volume growth in the quarter. The overall coatings business registered a 4.4% revenue growth for the quarter, with Decorative business revenue growth of 2.8%. This performance for the quarter reflects the sustained momentum delivered through persistent actions across our identified growth initiatives even as the broader market faced persistent competitive intensity and subdued demand conditions,” said Amit Syngle, Managing Director & CEO of Asian Paints, while commenting on the quarterly results.

He further stated that the company has intensified its brand‑building efforts, launched a robust wave of retailing initiatives and introduced a wide range of innovative product and service propositions. A disciplined cost management, backward integration efforts and enhanced operational efficiencies have enabled the company to fuel these brand investments while simultaneously improving operating margins.

Commenting on the future outlook, he said, “As the external environment remains dynamic, we continue to drive differentiated strategies, harness our structural strengths, and embrace technology to sustain momentum, respond with agility, creating long‑term value for all stakeholders.”

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