Asian Paints Q1 Preview: Analysts' Expectations Largely Bearish Amid Subdued Demand Trends

Asian Paints Ltd. is geared up to announce its results for the first quarter of the financial year ending March 2026 on Tuesday.

Most analysts are expecting the company to continue underperforming or report a muted or flat growth amid a downtrend in demand owing to intense competitive pressure, and impact of monsoon. Although a minority of analysts seem to differ as they see Asian Paints as one of their preferred players.

The paints arena as a whole is expected to see slight recovery in terms of sales volume, although the overall sentiment remains underwhelming for the sector amid slump in demand.

• Revenue seen 0.5% up to Rs 8,988.61 crore

• Net profit seen 12.3% higher at Rs 1101.29 crore

• Ebitda 2.04% down at 1659.09 crore

• Margin at 18.45

• Forecasts flat revenue growth for Asian Paints in Q1FY26 led by domestic decorative volume growth

• Expects the share price performance to remain muted

• Estimates Ebitda margin at 18.6%, revenue at Rs 8,975.2 crore and Ebitda at Rs 1669.7 crore

• Sees Asian Paints among the top preferred players

• Sees pickup in demand panning out in second half of FY26

• Expects incremental impact from Grasim on APNT's growth/margins to be lower

• Anticipates Asian Paints will continue to underperform relative to peers, owing to heightened competitive intensity in the market

• Expects modest growth in the sector

• Expects to post a revenue decline for the 6th consecutive quarter

• Expects to report only 2.5% YoY growth in domestic decorative paint volumes in Q1 FY26