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Asian PaintsNSE:ASIANPAINT -1.16%99 ROC (Joel Greenblatt) % is 47.46% as of Mar. 2026, which is 14% below its 10-year median of 55.41. GuruFocus rates NSE:ASIANPAINT with a GF Score™ of 99/100 and a GF Value™ of ₹2,985.88 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,605 Chemicals companies, Asian Paints ranks better than 93.15% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Asian Paints's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 47.46%.
The historical rank and industry rank for Asian Paints's ROC (Joel Greenblatt) % or its related term are showing as below:
NSE:ASIANPAINT'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 38.85 Med: 55.41 Max: 76.86
Current: 43.1
During the past 13 years, Asian Paints's highest ROC (Joel Greenblatt) % was 76.86%. The lowest was 38.85%. And the median was 55.41%.
NSE:ASIANPAINT's ROC (Joel Greenblatt) % is ranked better than 93.15% of 1605
companies
in the Chemicals industry
Industry Median: 9.47
vs NSE:ASIANPAINT: 43.10
Asian Paints's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -7.00% per year.
Asian Paints (NSE:ASIANPAINT) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Asian Paints ROC (Joel Greenblatt) % Related Terms
Asian Paints ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Asian Paints's ROC (Joel Greenblatt) % 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.
NSE:ASIANPAINT vs LIN, SHW, ECL: ROC (Joel Greenblatt) % Comparison
For the Specialty Chemicals subindustry, Asian Paints's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Asian Paints ROC (Joel Greenblatt) % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Asian Paints's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Asian Paints's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 47.46% mean?
Asian Paints (NSE:ASIANPAINT) has a ROC (Joel Greenblatt) % of 47.46% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Asian Paints and its competitors. This is 14% below median its historical median of 55.41. Over the past decade, Asian Paints' ROC (Joel Greenblatt) % has ranged from 38.85 to 76.86. According to the industry distribution chart, Asian Paints ranks #110 out of 1605 companies in the Chemicals industry, placing it in the top 6.9%.
Is Asian Paints' ROC (Joel Greenblatt) % too high?
Asian Paints' current ROC (Joel Greenblatt) % of 47.46% is 14% below median its 10-year median of 55.41. Over the past 10 years, this metric has ranged from a low of 38.85 to a high of 76.86. The Chemicals industry median ROC (Joel Greenblatt) % is 9.47. Asian Paints' value of 47.46% is 401.2% above this industry median. Based on the distribution chart, Asian Paints ranks #110 out of 1605 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Asian Paints has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asian Paints' ROC (Joel Greenblatt) % compare to LIN and SHW?
According to the Chemicals industry distribution chart, Asian Paints ranks #110 out of 1605 companies for ROC (Joel Greenblatt) %. This places Asian Paints in the top 7% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 9.47. Asian Paints' value of 47.46% is 401.2% above this benchmark. Historically, Asian Paints' own ROC (Joel Greenblatt) % has ranged from 38.85 to 76.86 over the past decade. While the company's 10-year median is 55.41 vs. the industry median of 9.47, Asian Paints has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Chemicals company?
The median ROC (Joel Greenblatt) % among Chemicals companies is 9.47, based on 1,605 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Asian Paints's current ROC (Joel Greenblatt) % of 47.46% is 401.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Asian Paints and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 9.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asian Paints's current ROC (Joel Greenblatt) % is 47.46%, which is 14% below median its own 10-year median of 55.41. 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 Modestly Undervalued. The stock's GF Value™ is ₹2,985.88, compared to a current price of ₹2,637.90 — trading 11.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is 47.46%, which is 14% below median its 10-year median of 55.41 and 401.2% above the Chemicals industry median of 9.47. Asian Paints' overall GF Score™ is 99/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Asian Paints (NSE:ASIANPAINT), the current ROC (Joel Greenblatt) % is 47.46% as of Mar. 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 ₹2,637.90 is trading 11.7% below its estimated GF Value™ of ₹2,985.88.
GuruFocus considers Asian Paints to be Modestly Undervalued.
Key valuation signals for NSE:ASIANPAINT:
ROC (Joel Greenblatt) %: 47.46% (14% below median its 10-year median of 55.41)
GF Value™: ₹2,985.88 vs. price of ₹2,637.90 (11.7% below fair value)
Industry Position: 401.2% above the Chemicals median (#110 of 1605)
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 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.
99GF Score
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