Asian Paints Q1 FY26 Results: Net Profit Falls 7.5% YoY, Revenue Slips 1.3%; Stock Surges on Strong QoQ Growth

The paint and decor giant, Asian Paints Ltd reported a mixed performance for the first quarter of FY26, with a marginal YoY decline in both revenue and net profit, but a strong sequential (QoQ) rebound in profitability.

The company posted revenue from operations of Rs. 7,868.45 crore in Q1 FY26, registering a 1.3% decline YoY from Rs. 7,975.63 crore in Q1 FY25. However, the topline showed a healthy 9.4% growth QoQ, compared to Rs. 7,192.41 crore in Q4 FY25.

Net Profit Drops 7.5% YoY, But Surges 58.4% QoQ

Asian Paints reported a net profit of Rs. 1,099.63 crore for Q1 FY26, marking a 7.5% YoY decline from Rs. 1,189.19 crore in the same quarter last year. Despite this, the company delivered a robust 58.4% QoQ growth in the bottom line, rising sharply from Rs. 694.28 crore in the previous quarter (Q4 FY25).

Total income for the quarter stood at Rs. 8,116.12 crore, which is down 1.02% YoY from Rs. 8,200.09 crore but shows a 10.7% increase QoQ from Rs. 7,330.45 crore.

Operational Efficiency Helps QoQ Recovery

While YoY growth remained muted, the company benefited from improved cost management and higher volumes in key domestic markets sequentially. The decline in raw material costs and tight control over other expenses likely contributed to the sharp QoQ improvement in net profit and margins.

Asian Paints Shares Rebound After Q1 Results

As of 3 PM on July 29, Asian Paints shares were trading in the green at Rs. 2,400.20, up Rs. 40.60 or 1.72% at the time of writing. The stock had been under pressure earlier this month, but sentiment improved after the company's Q1 FY26 earnings announcement. So far in 2025, the stock has gained approximately 4.5%, and it is up nearly 8% over the last sixmonths.

About Asian Paints

Asian Paints Ltd is India's largest and Asia's third-largest paint company, headquartered in Mumbai. Established in 1942, the company has grown to become a market leader in the decorative paints segment with a dominant share in both urban and rural India. It operates in over 15 countries and has 27 manufacturing facilities across the globe. Asian Paints manufactures decorative paints, industrial coatings, automotive finishes, wood finishes, and protective coatings, along with home improvement and décor products.