How India buys paint
2 listed companies sold ₹47,464 crore of paint in FY26, +10.4% a year over 5 years. Asian Paints Ltd sold the most, 75.0% of it. Asian Paints Ltd earned the most on each rupee of sales: 17.0%.
The brands, and who owns them
Royale, Ace, Apex Dust Proof, Apex Ultima Protek and others are Asian Paints Ltd's; Home Shield, Roof Kool & Seal, Bolix SA are Berger Paints India Ltd's; Birla Opus is Grasim Industries Ltd's. Brands are read from each company's filings and checked against a public source.
Who sells the most
Asian Paints Ltd had 75.0% of the listed companies' sales of paint here, 3.0 times as much as Berger Paints India Ltd, the next largest.
How the sales have grown, and who sold them
The listed companies here sold ₹47,464 Cr of paint in FY26, up from ₹25,636 Cr in FY19, 1.9 times as much. The biggest rise was in FY22 (+33%) and the weakest year FY25 (-5%). Asian Paints Ltd's part of the total went from 76% in FY19 to 75% in FY26. Over three years Berger Paints India Ltd grew fastest, +3.8% a year.
Who earns the most on each rupee
Operating profit before interest and tax, as a share of sales of paint. Asian Paints Ltd earned 17.0% on its sales in FY26, against 16.8% in FY17; its best year was FY24 at 20.2%. Berger Paints India Ltd earned 12.6% on its sales in FY26, against 15.1% in FY17.
The companies, and their brands
| Company and brands | Sales FY26 | Growth 1 yr | 3 yrs | 5 yrs | Margin | Profit share | Return on assets | P/E | ROE | Share price 1 yr |
|---|---|---|---|---|---|---|---|---|---|---|
| Asian Paints Ltd Royale, Ace, Apex Dust Proof, Apex Ultima Protek, Tractor, Apco Coatings, Asian Paints Berger, Asian Paints Causeway, Kadisco Asian Paints, SCIB Paints, Taubmans Sells in 36 states and 13 countries; exports 0.3% of turnover |
₹35,584 Cr | +5.0% | +0.6% | +10.1% | 17.0% | 80.1% | — | 47.8 | 21.3% | +2.5% |
| Berger Paints India Ltd Home Shield, Roof Kool & Seal, Bolix SA Sells in 28 states and 5 countries; exports 0.38% of turnover |
₹11,880 Cr | +2.9% | +3.8% | +11.6% | 12.6% | 19.9% | — | 45.6 | 18.2% | -10.8% |
Also sold by
See every one of these companies in Valarth
Questions people ask
Which listed companies sell paint in India?
2 listed companies report their sales of paint: Asian Paints Ltd (ASIANPAINT), Berger Paints India Ltd (BERGEPAINT). 2 more sell them but report them together with other products.
Which listed company sells the most paint in India?
Asian Paints Ltd, with sales of paint of ₹35,584 crore in FY26: 75.0% of the listed companies' total here.
How big is the listed market for paint?
The listed companies here sold ₹47,464 crore of paint in FY26, +10.4% a year over 5 years. Private makers are not included.
Which listed company makes the most profit on paint?
Asian Paints Ltd: its operating profit was 17.0% of its sales of paint in FY26.
Who owns Royale?
Royale is a brand of Asian Paints Ltd, listed on the NSE as ASIANPAINT.
Who owns Ace?
Ace is a brand of Asian Paints Ltd, listed on the NSE as ASIANPAINT.
Who owns Home Shield?
Home Shield is a brand of Berger Paints India Ltd, listed on the NSE as BERGEPAINT.
Who owns Roof Kool & Seal?
Roof Kool & Seal is a brand of Berger Paints India Ltd, listed on the NSE as BERGEPAINT.