ASIANPAINT · NSE
Asian Paints
Phase 4 · Capital Return
Profitable, cash-generative, and returning capital to shareholders through dividends.
Phase 1
Startup
Phase 2
Hyper Growth
Phase 3
Operating Leverage
Phase 4
Capital Return
Phase 5
Decline
Revenue growth (YoY)
4.9%
Mar 2026 vs Mar 2025
Net profit growth (YoY)
18.5%
Operating cash flow
₹7088 Cr
Mar 2026
Returning capital?
Yes
Last dividend ex-date 2026-06-22
Revenue, profit & operating cash flow
₹ crore, by fiscal year
RevenueNet profitOperating cash flowRevenue ends at ₹35584 Cr. Net profit ends at ₹4395 Cr. Operating cash flow ends at ₹7088 Cr.
Judge management on
Capital allocation — are dividends sized sensibly against free cash flow?
Key metric to watch
Free cash flow and the dividend payout ratio.
Typically valued on
Price/earnings and dividend yield.
| Fiscal year | Revenue | Net profit | Operating cash flow |
|---|---|---|---|
| Mar 2021 | ₹21713 Cr | ₹3207 Cr | ₹3683 Cr |
| Mar 2022 | ₹29101 Cr | ₹3085 Cr | ₹986 Cr |
| Mar 2023 | ₹34489 Cr | ₹4195 Cr | ₹4193 Cr |
| Mar 2024 | ₹35495 Cr | ₹5558 Cr | ₹6104 Cr |
| Mar 2025 | ₹33906 Cr | ₹3710 Cr | ₹4424 Cr |
| Mar 2026 | ₹35584 Cr | ₹4395 Cr | ₹7088 Cr |
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