1:10 Stock Split, 2 Bonus Issues: Paint Stock To Mull Dividend, Shares Near 52-Week Low

Large cap paints sector company Asian Paints has scheduled its meeting of Board of Directors to consider financial results and final dividend for May 9, 2024. The last trading price of Asian Paints shares on BSE is Rs 2867.80 apiece. Currently, Asian Paints share is trading 5.65 away from 52-week low price of 2705.90 per share. The company has a market capitalisation of Rs 2,75,078.74 crore. Asian Paints stock declined 15% year-to-date and offered 100% return in last 5-years. Check details below:

Asian Paints To Consider Results, Final Dividend On May 9: As per the regulatory filing of Asian Paints dated March 15, 2024, "This is to inform you that a meeting of the Board of Directors of the Company will be held on Thursday, 9th May 2024, inter alia, to consider the following:

1. Approval of audited standalone financial results of the Company for the quarter and financial year ending 31st March 2024;

2. Approval of audited consolidated financial results of the Company for the quarter and financial year ending 31st March 2024; and

3. Recommendation of final dividend, if any, for the financial year ending 31st March 2024."

Asian Paints Shares Performance & Return: The 52-week high price of Asian Paints shares on BSE is Rs 3566.90 per share and 52-week low price is Rs 2705.90 per share, respectively. Asian Paints has a ROE of 32.85, PE of 51.46, and EPS (TTM) of 55.73. Asian Paints shares rallied marginally by 1.36% in last 1-year, fell 3.97% in last 2-years, and gained 22% in last 3-years. In last 10-years, the scrip surged 478%. Shares of Asian paints witnessed sharp fall of 15% year to date due to the foray of Grasim Industries in the paint business. CLSA on February 26, 2024 downgraded Asian Paints shares to "sell" from the previous rating of "underperform".

Asian Paints Bonus Share, Stock Split History: Asian Paints split face value of shares 1 time since July 30, 2013. Asian Paints last split the face value of its shares from Rs 10 to Re 1 in 2013.The share has been trading ex-split from July 30, 2013. The large cap paint stock declared 2 bonus issues since August 2, 2000. Its last bonus was declared in the ratio 1:2 with ex-date of August 22, 2003.

Asian Paints Technical: The score is 40.02, stock is technically neutral. Stocks with score above 70 are considered as technically Strong and below 35 are considered weak. RSI is 42.4, RSI below 30 is considered oversold and above 70 overbought. MFI is 32.2, MFI below 30 is considered oversold and above 70 overbought. Promoters holding remains unchanged at 52.63% in Dec 2023 quarter. FII/FPI have decreased holdings from 17.65% to 17.32% in Dec 2023 quarter.

Asian Paints International Business: According to the BSE filing dated Jan 17, "Sales was flat in Q3 FY'24 at Rs 779.1 crores from Rs 778.8 crores on the back of macro-economic headwinds, inflation in key markets of South Asia and Egypt. In constant currency terms, sales increased by 5.2%. PBT before exceptional items in Q3 FY'24 was Rs 58.3 crores as against Rs 37.0 crores in the corresponding period of previous year. Sales decreased by 1.8% in 9M FY'24 to Rs 2,249.1 crores from Rs 2,290.0 crores. PBT before exceptional item was Rs 125.2 crores in 9M FY'24 from Rs 118.3 crores in the corresponding period of previous year."

Meanwhile, earnings before interest, tax, depreciation, and amortization (EBITDA) reported at Rs 2,056 crore as compared to Rs 1,611.4 crore in the corresponding quarter of last year. The EBITDA margin came at 22.6% from 18.7% in the year-ago period.

About: Asian Paints is India's leading paint and decor company and ranked among the top 8 coatings companies in the world with a consolidated turnover of ₹ 34,489 crores (₹ 345 billion) with a market capital of approx. ₹ 3,100 billion. Asian Paints along with its subsidiaries have operations in 15 countries across the world with 27 paint manufacturing facilities, servicing consumers in over 60+ countries through Asian Paints, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, SCIB Paints, Taubmans and Kadisco Asian Paints. Asian Paints also offers a wide range of Home Décor products and is an emerging strong player in the Home Improvement and Décor space in India.