Asian Paints (NSE:ASIANPAINT) Operating Income: ₹60,075 Mil (TTM As of Jun. 2026)

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NSE:ASIANPAINT Asian Paints Ltd NSE:ASIANPAINT
98 GF Score
Price ₹2,747.30
GF Value ₹2,910.68
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Asian Paints Operating Income?

Asian Paints NSE:ASIANPAINT +0.04% 98 Operating Income is ₹60,075 Mil as of Jun. 2026. GuruFocus rates NSE:ASIANPAINT with a GF Score™ of 98/100 and a GF Value™ of ₹2,910.68 (Fairly Valued). The stock has 3 warning signs investors should review.

Asian Paints's Operating Income for the three months ended in Jun. 2026 was ₹18,646 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was ₹60,075 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Asian Paints's Operating Income for the three months ended in Jun. 2026 was ₹18,646 Mil. Asian Paints's Revenue for the three months ended in Jun. 2026 was ₹105,214 Mil. Therefore, Asian Paints's Operating Margin % for the quarter that ended in Jun. 2026 was 17.72%.

Warning Sign:

Asian Paints Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -1.4%.

Asian Paints's 5-Year average Growth Rate for Operating Margin % was -1.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Asian Paints's annualized ROC % for the quarter that ended in Jun. 2026 was 29.64%. Asian Paints's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 60.80%.


Asian Paints  (NSE:ASIANPAINT) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Asian Paints's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=74582.8 * ( 1 - 25.59% )/( (187213.1 + 0)/ 1 )
=55497.06148/187213.1
=29.64 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=345344.9 - 72115.4 - ( 86016.4 - max(0, 91370.3 - 201846.4+86016.4))
=187213.1

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Asian Paints's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=85743.2/( ( (110997.8 + max(30021, 0)) + (0 + max(0, 0)) )/ 1 )
=85743.2/( ( 141018.8 + 0 )/ 1 )
=85743.2/141018.8
=60.80 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(44623.3 + 57436.9 + 5582.9) - (72115.4 + 0 + 5506.7)
=30021

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Asian Paints's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=18645.7/105214.4
=17.72 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Asian Paints Operating Income Related Terms


Asian Paints Operating Income Historical Data

* Premium members only.

The historical data trend for Asian Paints's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Asian Paints Operating Income Chart

Asian Paints Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 39,356.70 54,860.60 67,619.80 49,877.10 56,071.90

Asian Paints Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13,241.00 11,984.50 14,678.90 14,766.30 18,645.70
NSE:ASIANPAINT
98GF Score
Asian Paints Ltd NSE:ASIANPAINT
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Asian Paints Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹60,075 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ₹60,075 Mil mean?
Asian Paints (NSE:ASIANPAINT) has a Operating Income of ₹60,075 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Asian Paints and its competitors.
Is Asian Paints' Operating Income too high?
Asian Paints' current Operating Income is ₹60,075 Mil. Overall, Asian Paints has a GF Score™ of 98/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asian Paints' Operating Income compare to LIN and SHW?
Asian Paints' Operating Income of ₹60,075 Mil can be compared against companies in the Chemicals industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Chemicals company?
A good Operating Income depends on the Chemicals industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Asian Paints and its competitors. Asian Paints's current Operating Income is ₹60,075 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asian Paints stock overvalued right now?
Based on GuruFocus' analysis, Asian Paints (NSE:ASIANPAINT) is currently considered Fairly Valued. The stock's GF Value™ is ₹2,910.68, compared to a current price of ₹2,747.30 — trading 5.6% below its estimated fair value. The current Operating Income is ₹60,075 Mil. Asian Paints' overall GF Score™ is 98/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Asian Paints (NSE:ASIANPAINT), the current Operating Income is ₹60,075 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Asian Paints (NSE:ASIANPAINT) Overvalued in 2026?

Based on GuruFocus' analysis, Asian Paints stock appears to be undervalued. The current stock price of ₹2,747.30 is trading 5.6% below its estimated GF Value™ of ₹2,910.68. GuruFocus considers Asian Paints to be Fairly Valued.

Key valuation signals for NSE:ASIANPAINT:

  • Operating Income: ₹60,075 Mil
  • GF Value™: ₹2,910.68 vs. price of ₹2,747.30 (5.6% below fair value)
  • GF Score™: 98/100 with 3 warning signs

No single metric tells the full story. See the NSE:ASIANPAINT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Asian Paints Business Description

Other Exchanges 500820:India
Address 6A & 6B, Shantinagar, Santacruz (East), Mumbai, MH, IND, 400 055
Asian Paints Ltd is in the business of colour, decor, design and protection and operates through Decorative, International, Home Decor, and Industrial segments. The Decorative segment offers interior and exterior wall finishes, wood finishes, waterproofing, enamels, adhesives, tools, and undercoats. The Home Decor segment offers modular kitchens and wardrobes, bath fittings and sanitaryware, decorative lightings, uPVC windows and doors, wall coverings, furniture, fabric and furnishings, and rugs. The International segment caters to customers across Asia, the Middle East, Africa and the South Pacific. The Industrial segment provides automotive, general industrial, packaging, marine, industrial protective coatings, and powder coatings. The majority of revenue comes from India.
98GF Score

Get the complete analysis for NSE:ASIANPAINT

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹2,747.30
Price
₹2,910.68
GF Value