Asian PaintsNSE:ASIANPAINT -0.80%98 ROE % is 21.94% as of Mar. 2026, which is 17% below its 10-year median of 26.46. GuruFocus rates NSE:ASIANPAINT with a GF Score™ of 98/100 and a GF Value™ of ₹2,959.76 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,585 Chemicals companies, Asian Paints ranks better than 94.07% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Asian Paints's annualized net income for the quarter that ended in Mar. 2026 was ₹46,885 Mil. Asian Paints's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ₹213,716 Mil. Therefore, Asian Paints's annualized ROE % for the quarter that ended in Mar. 2026 was 21.94%.
The historical rank and industry rank for Asian Paints's ROE % or its related term are showing as below:
NSE:ASIANPAINT'
s ROE % Range Over the Past 10 Years
Min: 19.24 Med: 26.46 Max: 31.45
Current: 21.5
During the past 13 years, Asian Paints's highest ROE % was 31.45%. The lowest was 19.24%. And the median was 26.46%.
NSE:ASIANPAINT's ROE % is ranked better than 94.07% of 1585
companies
in the Chemicals industry
Industry Median: 5.2
vs NSE:ASIANPAINT: 21.50
Asian Paints (NSE:ASIANPAINT) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Asian Paints ROE % Related Terms
Asian Paints ROE % Historical Data
* Premium members only.
The historical data trend for Asian Paints's ROE % 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.
For the Specialty Chemicals subindustry, Asian Paints's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Asian Paints's ROE % distribution charts can be found below:
* The bar in red indicates where Asian Paints's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Asian Paints (NSE:ASIANPAINT) has a ROE % of 21.94% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Asian Paints and its competitors. This is 17% below median its historical median of 26.46. Over the past decade, Asian Paints' ROE % has ranged from 19.24 to 31.45. According to the industry distribution chart, Asian Paints ranks #94 out of 1585 companies in the Chemicals industry, placing it in the top 5.9%.
Is Asian Paints' ROE % too high?
Asian Paints' current ROE % of 21.94% is 17% below median its 10-year median of 26.46. Over the past 10 years, this metric has ranged from a low of 19.24 to a high of 31.45. The Chemicals industry median ROE % is 5.20. Asian Paints' value of 21.94% is 321.9% above this industry median. Based on the distribution chart, Asian Paints ranks #94 out of 1585 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 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asian Paints' ROE % compare to LIN and SHW?
According to the Chemicals industry distribution chart, Asian Paints ranks #94 out of 1585 companies for ROE %. This places Asian Paints in the top 6% of its industry — outperforming the majority of peers. The industry median ROE % is 5.20. Asian Paints' value of 21.94% is 321.9% above this benchmark. Historically, Asian Paints' own ROE % has ranged from 19.24 to 31.45 over the past decade. While the company's 10-year median is 26.46 vs. the industry median of 5.20, 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 ROE % for a Chemicals company?
The median ROE % among Chemicals companies is 5.20, based on 1,585 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Asian Paints's current ROE % of 21.94% is 321.9% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Asian Paints and its competitors. For the Chemicals industry, the median ROE % is 5.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asian Paints's current ROE % is 21.94%, which is 17% below median its own 10-year median of 26.46. 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 ₹2,959.76, compared to a current price of ₹2,635.70 — trading 10.9% below its estimated fair value. The current ROE % is 21.94%, which is 17% below median its 10-year median of 26.46 and 321.9% above the Chemicals industry median of 5.20. Asian Paints' overall GF Score™ is 98/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Asian Paints (NSE:ASIANPAINT), the current ROE % is 21.94% 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 ₹2,635.70 is trading 10.9% below its estimated GF Value™ of ₹2,959.76.
GuruFocus considers Asian Paints to be Modestly Undervalued.
Key valuation signals for NSE:ASIANPAINT:
ROE %: 21.94% (17% below median its 10-year median of 26.46)
GF Value™: ₹2,959.76 vs. price of ₹2,635.70 (10.9% below fair value)
Industry Position: 321.9% above the Chemicals median (#94 of 1585)
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.
98GF Score
Get the complete analysis for NSE:ASIANPAINT
ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:ASIANPAINT has been successfully added to your 
