PBDIT [Profit before depreciation, interest, tax, other income, and exceptional items] (before share in profit of associates) decreased by 20.4% to Rs 1,636.7 crore in Q3 FY25 from Rs 2,056.1 crore recorded in Q3 FY24.

The PBDIT margin as a percentage of net sales decreased to 19.2% from 22.7% in the same period of the previous year.

Profit before tax declined by 22.84% to Rs 1,518.16 crore in Q3 FY25 as compared to Rs 1,967.78 crore reported in Q3 FY24.

International business sales in Q3 FY25 increased by 5% to Rs 818 crore, up from Rs 779.1 crore in Q3 FY24, driven by improved macroeconomic conditions in Sri Lanka, Bangladesh, and Nepal, partially offset by currency devaluation in Ethiopia and Egypt. In constant currency terms, sales grew by 17.1%. PBT in Q3 FY25 was Rs 60.8 crore, compared to Rs 58.3 crore in the corresponding period of the previous year.

During the period under review, sales in the Bath Fittings business increased by 2.6%, rising to Rs 87.6 crore in Q3 FY25, compared to Rs 85.4 crore recorded in Q3 FY24. The PBDIT loss in Q3 FY25 was Rs 6.3 crore, compared to a loss of Rs 5.5 crore posted in the same period a year ago.

The company’s kitchen business sales rose by 2.7% to Rs 102.7 crore in Q3 FY25, up from Rs 100.1 crore in Q3 FY24. The business recorded a PBDIT loss of Rs 2.1 crore in Q3 FY25, compared to a profit of Rs 4.2 crore recorded in same quarter last year.

The sales of White Teak in Q3 FY25 decreased by 22.8%, falling to Rs 26 crore, while sales at Weatherseal dropped by 14.1% to Rs 11.8 crore. The decline in sales was driven by weak seasonal demand.

During the quarter, industrial business (Asian Paints PPG) sales remained flat at Rs 287.3 crore, compared to Rs 288.0 crore in the same period of the previous year, with PBT decreasing to Rs 24.1 crore from Rs 33.2 crore. Meanwhile, PPGAP sales increased by 5.9%, rising to Rs 610.1 crore from Rs 576.2 crore, while PBT grew to Rs 134.8 crore from Rs 128.0 crore in the corresponding period of the previous year.

Amit Syngle, managing director & CEO of Asian Paints, said, “The paint industry continued to be impacted by subdued demand conditions during the quarter, especially in the urban centers. We registered a 6.6% decline in overall coatings business in India, including industrial. The domestic decorative businesses delivered a 1.6% volume growth while the standalone revenues declined by 7.5% for the quarter impacted by the weak festive season demand. While we saw sequential improvement in operating margins, the adverse mix coupled with increased sales and distribution expenses affected operating margins on a year-on-year basis.

The industrial business fared better, with revenues growing by 3.8%, supported by growth in the general industrial and refinish segments. We continued to see growth in our home decor business progressing on our network expansion journey. On the international side, the portfolio registered 5% growth (17.1% in constant currency terms), driven by growth in the Middle East and recovering macro-economic conditions in key Asian markets.

In the near term, we remain cautiously optimistic on a recovery in demand conditions while we continue to invest in our brand and focus on innovation and customer centricity.”

Asian Paints is India's leading paint company and ranked among the top eight decorative coatings companies in the world. Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, bath fittings and providing related services.