Asian Paints vs Berger Paints
Asian Paints trades below its peers' median P/E (5% below), Berger Paints India above it (3% above).
Asian Paints earns the higher return on equity: 21.3% against 18.2%.
Berger Paints India grew revenue faster over three years: 4.3% a year against 1.4% a year.
Both fire no forensic red flags on our checks.
The latest change on file is Berger Paints India's, on 5 Nov 2026: Q2 FY2027 results filed.
Asian Paints trades at a P/E of 50.09: 5th of 9 among its peers (peer median 53.0).
Asian Paints: the full company page →Berger Paints India trades at a P/E of 45.70: 10th of 17 among its peers (peer median 44.4).
Berger Paints India: the full company page →Asian Paints and Berger Paints India, figure by figure
| Figure | Asian Paints | Berger Paints | Leads |
|---|---|---|---|
| Market cap | ₹2,42,581 Cr | ₹56,114 Cr | Asian Paints, larger |
| P/E | 50.09 | 45.70 | Berger Paints India, cheaper |
| P/B | 9.99 | 7.54 | Berger Paints India, cheaper |
| Dividend yield | 1.2% | 0.9% | Asian Paints, higher |
| ROE | 21.3% | 18.2% | Asian Paints, higher |
| ROCE | 26.7% | 22.6% | Asian Paints, higher |
| Profit margin | 12.2% | 9.6% | Asian Paints, higher |
| Revenue growth, 3 years | 1.4% a year | 4.3% a year | Berger Paints India, faster |
| Profit growth, 3 years | 1.8% a year | 9.4% a year | Berger Paints India, faster |
| 1-year return | −4.6% | −10.2% | Asian Paints, higher |
| 5-year return | −5.6% a year | −5.5% a year | Berger Paints India, higher |
| Quality score | 64.6 | 68.3 | Berger Paints India, higher |
| Our valuation view | Fair, low confidence (held for review) | Fair, low confidence (held for review) | Level |
| Risk level | CLEAN | CLEAN | Level |
| Forensic red flags | 0 red of 30 judged | 0 red of 30 judged | Level |
The leading figure is in green: the lower for P/E, P/B, cost to income, NPAs, risk and red flags, the higher for the rest. P/E and P/B on the latest price; growth rates are yearly averages; returns are price only. Our valuation view and the red flags are explained on each company's page.
Which is bigger, Asian Paints or Berger Paints India?
Asian Paints is the bigger company by market value: ₹2,42,581 Cr against ₹56,114 Cr for Berger Paints India, about 4.3 times as large.
Asian Paints market cap is ₹2,42,581 crore (large cap), making it the 37th largest listed company on the NSE.
Berger Paints India market cap is ₹56,114 crore (mid cap), making it the 191st largest listed company on the NSE.
Which is cheaper on valuation, Asian Paints or Berger Paints India?
Berger Paints India is the cheaper of the two on P/E: 45.70 against 50.09 for Asian Paints.
On price to book, Berger Paints India is also the cheaper: 7.54 against 9.99.
Against their own peers' median P/E, Asian Paints trades 5% below its own (53.0) and Berger Paints India trades 3% above its own (44.4).
Our valuation view: fair on Asian Paints (low confidence) and fair on Berger Paints India (low confidence). The view weighs the multiples against each company's peers and its own history.
Which is more profitable, Asian Paints or Berger Paints India?
Asian Paints is the more profitable on return on equity: 21.3% against 18.2% for Berger Paints India.
ROCE: Asian Paints 26.7%, Berger Paints India 22.6%.
Profit margin: Asian Paints 12.2%, Berger Paints India 9.6%.
Which grew faster, Asian Paints or Berger Paints India?
Berger Paints India grew faster over the last three years: revenue up 4.3% a year against 1.4% a year for Asian Paints.
Profit growth, 3 years: Berger Paints India 9.4% a year, Asian Paints 1.8% a year.
Which has cleaner accounts, Asian Paints or Berger Paints India?
Asian Paints and Berger Paints India fire the same number of our forensic red flags: none.
Asian Paints: risk level CLEAN, 30 of 30 flags judged.
Berger Paints India: risk level CLEAN, 30 of 30 flags judged.
A red flag is a figure out of line with what clean accounts show, not a finding of wrongdoing.
What these figures tell you
More comparisons
What this page rests on
Every figure is the one Asian Paints' and Berger Paints India's own pages print, from their filings with the exchanges and our arithmetic on them; each company is set against its own peer set. A side-by-side reading of the figures on both company pages, not a recommendation to buy, sell or hold either share. Which figure matters more depends on what you are looking for.