ASIAN PAINTS LTD. — Q2FY27 earnings call summary

Filed 03 November 2026 · Official transcript

Q2 FY27 decorative volume growth at 6.4%, value growth 14.5%; H1 volume +8%, value +16%
Q3 volume growth expected at 8-9% supported by festive and wedding seasons
International markets grew ~30% in Q2 despite geopolitical challenges; PBT margin down but expected to improve
Gross margin band guided at 41-43% for H2FY27 with calibrated price increases
VAE backward integration phase 1 commissioned; expected 300-500 bps margin benefit on relevant products
Competitive intensity high; price increases calibrated to balance demand and margin
EBITDA margin band of 18-20% maintained with cost excellence and VAE benefits
Anti-dumping duty on TiO2 may increase costs by 2-3%; company managing impact via product rationalization