Asian Paints (APNT IN) – Analyst Meet Update – GREENP Eyes Utilisation & Market Share Recovery – HOLD
Published on 01 Jun 2026
We attended APNT’s analyst meet where management maintained a cautious outlook, reiterating its focus on balancing growth and profitability through sustained brand investments, premiumisation and expansion into adjacent categories, while maintaining pricing discipline. APNT expects competitive intensity to remain elevated as new players are entering the decorative paints market amongst deterioration in industry growth/GDP and wallet share shift in favour of other products/segments. We estimate EPS CAGR of 10.5% over FY26-28E and value the stock at 46xFY28 and arrive at TP of Rs2,626. We believe that the stock offers limited upside in near term, retain Hold.
