Asian Paints registers marginal increase in Q3 FY26 revenue 

Asian Paints Ltd has reported a modest revenue growth for the quarter ended December 31, 2025 (Q3 FY26), even as profitability remained largely flat amid intense competition and subdued demand conditions in the domestic market.

The company’s consolidated revenue from operations stood at Rs 8,867 crore in Q3 FY26, up 4.4% year-on-year from Rs 8,494 crore in the corresponding quarter last year. On a sequential basis, revenue grew 3.9% from Rs 8,531 crore in Q2 FY26.

Profit after tax attributable to owners of the company came in at Rs 1,060 crore, marginally higher than Rs 1,054 crore in the previous quarter, reflecting a near-flat quarter-on-quarter performance. However, profit declined on a year-on-year basis compared to Rs 1,110 crore reported in Q3 FY25.

Profit before tax for the quarter stood at Rs 1,489 crore, compared to Rs 1,518 crore in the year-ago period and Rs 1,392 crore in Q2 FY26.

For the nine months ended December 31, 2025, Asian Paints reported consolidated revenue of Rs 26,836 crore, compared to Rs 25,547 crore in the corresponding period last year. Net profit attributable to owners for the nine-month period stood at Rs 3,153 crore, compared to Rs 2,975 crore a year ago.

India decorative business posts strong volume growth

The India decorative paints business continued to show volume-led momentum, with volumes growing 7.9% during the quarter. Overall coatings business revenue rose 4.4% in Q3 FY26, while decorative business revenue grew 2.8%.

The company said sustained execution across growth initiatives, brand investments and retailing interventions supported performance, even as the broader market remained challenged by competitive intensity and muted demand.

Industrial coatings and international markets support growth

The industrial coatings segment delivered strong double-digit growth during the quarter, providing a lift to overall coatings performance.

Asian Paints’ international business reported a 6.3% revenue growth, led by steady performance in key markets including the UAE, Sri Lanka and Ethiopia.

Cost discipline supports margins

Asian Paints said disciplined cost management, backward integration initiatives and operational efficiencies enabled it to step up brand investments while also improving operating margins during the quarter.

Commenting on the performance, Amit Syngle, Managing Director and CEO, Asian Paints Ltd, said the company delivered its third consecutive quarter of healthy volume growth in the India decorative business, despite a challenging external environment.

He said the company intensified brand-building efforts, launched a strong wave of retail initiatives and introduced a wide range of innovative products and services. Syngle added that Asian Paints will continue to focus on differentiated strategies, technology adoption and agility to sustain momentum and create long-term value for stakeholders.