3 Largest Paint Company, Adhesives and Construction Chemicals Brand and Decorative Laminates Maker Stocks With a Strong Future Roadmap: Asian Paints, Pidilite Industries and Stylam Industries
- October 23, 2026
- Posted by: Neeraj Pandey
- Category: Best Stocks
Asian Paints, Pidilite Industries and Stylam Industries: ROE of 18.6% to 22.6% and FY22 to FY26 revenue CAGR of 5.3% to 14.2%. Prices as of 22 Oct 2026.
Quick Answer
The three paint, adhesive and decorative laminate stocks to watch are Asian Paints, Pidilite Industries and Stylam Industries. Their return on equity ranges from 18.6% to 22.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.3% to 14.2%. Pidilite Industries has the highest return on equity at 22.6%, while Stylam Industries has the fastest revenue growth at 14.2% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Paint, adhesive and decorative laminate stocks let investors follow companies that finish and furnish Indian homes. Asian Paints, Pidilite Industries and Stylam Industries cover the largest paint company, an adhesives and construction chemicals brand and a decorative laminates maker.
This list covers three paint, adhesive and decorative laminate stocks with complete current figures: Asian Paints, Pidilite Industries and Stylam Industries. Every figure comes from the latest reported financials and the 22 October 2026 market close. Companies without complete current figures were left out.
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What Are Paint, Adhesive and Decorative Laminate Stocks?
Paint, adhesive and decorative laminate stocks are listed companies that make paints, adhesives, waterproofing and laminates. Their earnings depend on volumes, product mix, dealer reach and raw material costs.
Paint, Adhesive and Decorative Laminate Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Asian Paints | 2,284.8 | 219,805 | 45.4 | 42.6 | 20.2 | 0.18 |
| Pidilite Industries | 1,481.2 | 150,953 | 56.4 | 35.1 | 22.6 | 0.04 |
| Stylam Industries | 3,305.2 | 5,599 | 33.0 | 36.3 | 18.6 | 0.04 |
On valuation, Stylam Industries trades at a P/E below the industry P/E, while Asian Paints and Pidilite Industries trade above it, which reflects the growth the market already expects. Readers comparing paint, adhesive and decorative laminate stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Paint, Adhesive and Decorative Laminate Stocks Have a Strong Roadmap in India?
Paint, adhesive and decorative laminate stocks have a strong roadmap in India because housing growth, renovation and rising spending on interiors keep lifting demand for finishing products.
- Renovation cycles. Existing homes need regular repainting and repairs.
- Home improvement. Waterproofing and decor products widen sales.
- Exports. Laminates find buyers in many countries.
Why Asian Paints Features Among These Paint, Adhesive and Decorative Laminate Stocks
Among the paint, adhesive and decorative laminate stocks on this list, Asian Paints is India’s largest paint company, selling decorative paints, waterproofing, home improvement products and industrial coatings under well-known brands, with a presence in several countries.
Revenue rose from Rs 29,481 crore in FY22 to Rs 36,307 crore in FY26, a compound annual growth rate of 5.3%. Net profit grew from Rs 3,085 crore in FY22 to Rs 4,395 crore in FY26, which works out to a compound annual growth rate of 9.3%.
In the June 2026 quarter, revenue grew 18.1% year on year to Rs 10,783 crore, while net profit rose 39.6% to Rs 1,559 crore. The company has a return on equity of 20.2%, a debt to equity ratio of 0.18 and a market capitalisation of Rs 219,805 crore. The stock trades at a P/E of 45.4, above the industry P/E of 42.6.
Roadmap: The company is growing its home decor and waterproofing offerings and widening its dealer network. A strong brand and deep distribution help it benefit from housing and renovation demand.
What to watch: Follow volume growth, premium product mix and raw material costs.
Why Pidilite Industries Features Among These Paint, Adhesive and Decorative Laminate Stocks
Among the home improvement brand shares on this list, Pidilite Industries is India’s leading adhesives and construction chemicals company and the maker of Fevicol, Dr. Fixit, M-Seal and Fevikwik, among other brands.
In the June 2026 quarter, revenue grew 21.0% year on year to Rs 4,644 crore, while net profit rose 30.3% to Rs 884 crore. Revenue rose from Rs 9,957 crore in FY22 to Rs 14,867 crore in FY26, a compound annual growth rate of 10.5%.
Net profit grew from Rs 1,207 crore in FY22 to Rs 2,471 crore in FY26, which works out to a compound annual growth rate of 19.6%. The company has a return on equity of 22.6%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 150,953 crore. The stock trades at a P/E of 56.4, above the industry P/E of 35.1.
Roadmap: The company has a strong brand and a vast distribution network, and it continues to add products in waterproofing, paints and construction chemicals. Premium categories and new launches contribute to growth in housing and renovation.
What to watch: Check volume growth in consumer and bazaar products and the trend in raw material prices.
Why Stylam Industries Features Among These Paint, Adhesive and Decorative Laminate Stocks
Among the three companies on this list, Stylam Industries makes decorative laminates and compact laminates used in furniture, interiors and construction, and exports to many countries.
The company has a return on equity of 18.6%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 5,599 crore. The stock trades at a P/E of 33.0, below the industry P/E of 36.3.
Revenue rose from Rs 667 crore in FY22 to Rs 1,136 crore in FY26, a compound annual growth rate of 14.2%. Net profit grew from Rs 61.1 crore in FY22 to Rs 150 crore in FY26, which works out to a compound annual growth rate of 25.1%. In the June 2026 quarter, revenue grew 15.5% year on year to Rs 328 crore, while net profit rose 70.4% to Rs 48.2 crore.
Roadmap: The company is among the largest laminate makers in India and is adding capacity and products for both domestic and export markets. Strong export sales and a growing interior market support its growth plans.
What to watch: Monitor export growth and the ramp-up of new capacity.
Asian Paints vs Pidilite Industries vs Stylam Industries on Key Financials
The table below sets the three paint, adhesive and decorative laminate stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Asian Paints | 29,481 | 36,307 | 5.3% | 4,395 | 12.1% |
| Pidilite Industries | 9,957 | 14,867 | 10.5% | 2,471 | 16.6% |
| Stylam Industries | 667 | 1,136 | 14.2% | 150 | 13.2% |
Pidilite Industries posts the highest return on equity in this group at 22.6%. Asian Paints has the largest FY26 revenue at Rs 36,307 crore, and Stylam Industries shows the fastest revenue growth with a 14.2% compound annual rate. A useful habit with paint, adhesive and decorative laminate stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Asian Paints | 9,131 | 10,783 | 18.1% |
| Pidilite Industries | 3,839 | 4,644 | 21.0% |
| Stylam Industries | 284 | 328 | 15.5% |
Key Risks to Check Before Investing in Paint, Adhesive and Decorative Laminate Stocks
Every theme carries risks that deserve a check before any decision. For these paint, adhesive and decorative laminate stocks, the main points are: Long-term home improvement brand shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Raw material costs. Crude-linked inputs influence margins.
- Competition. New entrants add pressure on pricing.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter paint, adhesive and decorative laminate stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Paint, Adhesive and Decorative Laminate Stocks
Paint, adhesive and decorative laminate stocks reward investors who follow volumes, product mix and input costs together. Asian Paints, Pidilite Industries and Stylam Industries each have a strong brand or niche. Based on the 22 October 2026 close, Asian Paints trades at Rs 2,284.8, Pidilite Industries at Rs 1,481.2 and Stylam Industries at Rs 3,305.2. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these paint, adhesive and decorative laminate stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are paint, adhesive and decorative laminate stocks?
Ans. Paint, adhesive and decorative laminate stocks are listed companies that make paints, adhesives, waterproofing and laminates. Their earnings depend on volumes, product mix, dealer reach and raw material costs. This list looks at three of them, Asian Paints, Pidilite Industries and Stylam Industries, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which paint, adhesive and decorative laminate stocks are covered in this list?
Ans. This list covers Asian Paints, Pidilite Industries and Stylam Industries. Based on the 22 October 2026 close, Asian Paints traded at Rs 2,284.8, Pidilite Industries at Rs 1,481.2 and Stylam Industries at Rs 3,305.2. Their return on equity ranges from 18.6% to 22.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.3% to 14.2%.
Why do paint, adhesive and decorative laminate stocks have a strong future roadmap in India?
Ans. Paint, adhesive and decorative laminate stocks have a strong roadmap in India because housing growth, renovation and rising spending on interiors keep lifting demand for finishing products. The main drivers are as follows. Renovation cycles. Existing homes need regular repainting and repairs. Home improvement. Waterproofing and decor products widen sales. Exports. Laminates find buyers in many countries. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Asian Paints performed financially?
Ans. Revenue rose from Rs 29,481 crore in FY22 to Rs 36,307 crore in FY26, a compound annual growth rate of 5.3%. Net profit grew from Rs 3,085 crore in FY22 to Rs 4,395 crore in FY26, which works out to a compound annual growth rate of 9.3%. In the June 2026 quarter, revenue grew 18.1% year on year to Rs 10,783 crore, while net profit rose 39.6% to Rs 1,559 crore. The company has a return on equity of 20.2%, a debt to equity ratio of 0.18 and a market capitalisation of Rs 219,805 crore. The stock trades at a P/E of 45.4, above the industry P/E of 42.6. Looking ahead, the company is growing its home decor and waterproofing offerings and widening its dealer network. A strong brand and deep distribution help it benefit from housing and renovation demand.
How has Pidilite Industries performed financially?
Ans. Revenue rose from Rs 9,957 crore in FY22 to Rs 14,867 crore in FY26, a compound annual growth rate of 10.5%. Net profit grew from Rs 1,207 crore in FY22 to Rs 2,471 crore in FY26, which works out to a compound annual growth rate of 19.6%. In the June 2026 quarter, revenue grew 21.0% year on year to Rs 4,644 crore, while net profit rose 30.3% to Rs 884 crore. The company has a return on equity of 22.6%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 150,953 crore. The stock trades at a P/E of 56.4, above the industry P/E of 35.1. Looking ahead, the company has a strong brand and a vast distribution network, and it continues to add products in waterproofing, paints and construction chemicals. Premium categories and new launches contribute to growth in housing and renovation.
How has Stylam Industries performed financially?
Ans. Revenue rose from Rs 667 crore in FY22 to Rs 1,136 crore in FY26, a compound annual growth rate of 14.2%. Net profit grew from Rs 61.1 crore in FY22 to Rs 150 crore in FY26, which works out to a compound annual growth rate of 25.1%. In the June 2026 quarter, revenue grew 15.5% year on year to Rs 328 crore, while net profit rose 70.4% to Rs 48.2 crore. The company has a return on equity of 18.6%, a debt to equity ratio of 0.04 and a market capitalisation of Rs 5,599 crore. The stock trades at a P/E of 33.0, below the industry P/E of 36.3. Looking ahead, the company is among the largest laminate makers in India and is adding capacity and products for both domestic and export markets. Strong export sales and a growing interior market support its growth plans.
What risks should investors check before buying paint, adhesive and decorative laminate stocks?
Ans. Investors should check a few risks before buying paint, adhesive and decorative laminate stocks. Raw material costs. Crude-linked inputs influence margins. Competition. New entrants add pressure on pricing. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of paint, adhesive and decorative laminate stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 22 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
