{"id":289364,"date":"2026-10-06T11:38:12","date_gmt":"2026-10-06T06:08:12","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=289364"},"modified":"2026-10-06T11:38:12","modified_gmt":"2026-10-06T06:08:12","slug":"paint-stocks-strong-roadmap","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/","title":{"rendered":"3 Paint Stocks With a Strong Future Roadmap: Asian Paints, Berger Paints India and Kansai Nerolac Paints"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Asian Paints Rs 2,366.00, P\/E 47.03. Berger Paints Rs 458.40, P\/E 43.89. Kansai Nerolac Rs 176.97, P\/E 24.32. Closing prices of 5 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Paint stocks with the clearest long-term roadmaps today include Asian Paints in decorative paints, home improvement and industrial coatings, Berger Paints India in decorative paints and industrial coatings and Kansai Nerolac Paints in industrial and automotive coatings with decorative paints. FY26 revenue growth was 5.3% at Asian Paints, 3.0% at Berger Paints and 3.0% at Kansai Nerolac. P\/E stands at 47.03 for Asian Paints (industry 43.27), 43.89 for Berger Paints (industry 43.27) and 24.32 for Kansai Nerolac (industry 43.27). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Paint stocks give investors exposure to housing, repainting and industrial activity. Results depend on volume growth, raw material prices linked to crude oil derivatives and titanium dioxide, and dealer reach, which is why pricing power and margins matter as much as sales.<\/p>\n<p>This list covers three paint sector stocks: Asian Paints for decorative paints, home improvement and industrial coatings, Berger Paints India for decorative paints and industrial coatings and Kansai Nerolac Paints for industrial and automotive coatings with decorative paints. Every figure comes from the latest reported financials and the 5 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=paint-stocks-strong-roadmap\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#What_Are_Paint_Stocks\" title=\"What Are Paint Stocks?\">What Are Paint Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Paint_Stocks_at_a_Glance\" title=\"Paint Stocks at a Glance\">Paint Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Why_Do_Paint_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Paint Stocks Have a Strong Roadmap in India?\">Why Do Paint Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Asian_Paints_Decorative_Leadership_and_Home_Improvement_Anchor_the_Roadmap\" title=\"Asian Paints: Decorative Leadership and Home Improvement Anchor the Roadmap\">Asian Paints: Decorative Leadership and Home Improvement Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Berger_Paints_India_Decorative_Paints_and_Industrial_Coatings_Drive_the_Pipeline\" title=\"Berger Paints India: Decorative Paints and Industrial Coatings Drive the Pipeline\">Berger Paints India: Decorative Paints and Industrial Coatings Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Kansai_Nerolac_Paints_Automotive_Coatings_and_Decorative_Paints_Build_the_Next_Leg\" title=\"Kansai Nerolac Paints: Automotive Coatings and Decorative Paints Build the Next Leg\">Kansai Nerolac Paints: Automotive Coatings and Decorative Paints Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Best_Paint_Stocks_in_India_Asian_Paints_vs_Berger_Paints_vs_Kansai_Nerolac_on_Key_Financials\" title=\"Best Paint Stocks in India: Asian Paints vs Berger Paints vs Kansai Nerolac on Key Financials\">Best Paint Stocks in India: Asian Paints vs Berger Paints vs Kansai Nerolac on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#How_to_Evaluate_Paints_and_Coatings_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Paints and Coatings Stocks to Buy Before You Invest\">How to Evaluate Paints and Coatings Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Risks_to_Consider_Before_Investing_in_Paint_Stocks\" title=\"Risks to Consider Before Investing in Paint Stocks\">Risks to Consider Before Investing in Paint Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#FAQs_on_Paint_Stocks\" title=\"FAQs on Paint Stocks\">FAQs on Paint Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Which_are_the_best_paint_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best paint stocks in India with a strong roadmap?\">Which are the best paint stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Is_Asian_Paints_a_good_stock_to_buy_now\" title=\"Is Asian Paints a good stock to buy now?\">Is Asian Paints a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#What_is_the_PE_ratio_of_Asian_Paints_Berger_Paints_and_Kansai_Nerolac\" title=\"What is the P\/E ratio of Asian Paints, Berger Paints and Kansai Nerolac?\">What is the P\/E ratio of Asian Paints, Berger Paints and Kansai Nerolac?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Which_of_these_paint_stocks_has_the_highest_return_on_equity\" title=\"Which of these paint stocks has the highest return on equity?\">Which of these paint stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#What_are_the_risks_of_investing_in_paint_stocks\" title=\"What are the risks of investing in paint stocks?\">What are the risks of investing in paint stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#How_did_Asian_Paints_Berger_Paints_and_Kansai_Nerolac_perform_in_Q1_FY27\" title=\"How did Asian Paints, Berger Paints and Kansai Nerolac perform in Q1 FY27?\">How did Asian Paints, Berger Paints and Kansai Nerolac perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#Do_paint_stocks_pay_dividends\" title=\"Do paint stocks pay dividends?\">Do paint stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/paint-stocks-strong-roadmap\/#How_can_I_invest_in_paint_stocks_in_India\" title=\"How can I invest in paint stocks in India?\">How can I invest in paint stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Paint_Stocks\"><\/span><strong>What Are Paint Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Paint stocks are shares of companies that make decorative paints for homes and industrial coatings for vehicles and factories. Results depend on repainting demand, new housing, raw material costs and the strength of the dealer network, so brand and distribution separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Paint_Stocks_at_a_Glance\"><\/span><strong>Paint Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three paint stocks as of the 5 October 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/asianpaint\/asian-paints-ltd-share-price-today\">Asian Paints<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,366.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,27,507<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">47.03<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.27<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.24%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.18<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/bergepaint\/berger-paints-india-ltd-share-price-today\">Berger Paints India<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">458.40<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">53,479<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.89<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.27<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.29%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.09<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/kansainer\/kansai-nerolac-paints-ltd-share-price-today\">Kansai Nerolac Paints<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">176.97<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14,321<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.32<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.27<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.78%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.05<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among paint sector stocks, Kansai Nerolac trades below the industry P\/E, while Asian Paints and Berger Paints trade at a premium to the industry multiple.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Paint_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Paint Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Paint stocks have a strong roadmap in India because repainting demand grows with a larger housing base, premium products lift realisation, and makers are adding home improvement and industrial coatings. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Repainting demand:<\/strong> Homes are repainted every few years, so a larger housing base supports steady volumes.<\/li>\n<li><strong>Premium products:<\/strong> Buyers trading up to premium emulsions and waterproofing lift price per litre.<\/li>\n<li><strong>Industrial coatings:<\/strong> Auto, protective and powder coatings add demand linked to factories and vehicles.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Asian_Paints_Decorative_Leadership_and_Home_Improvement_Anchor_the_Roadmap\"><\/span><strong>Asian Paints: Decorative Leadership and Home Improvement Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Asian Paints&#8217; roadmap rests on its leading decorative paints franchise, a push into home improvement categories such as kitchens and bath fittings and its industrial coatings ventures.<\/p>\n<p>Revenue grew from Rs 29,481.29 crore in FY22 to Rs 36,307.34 crore in FY26, a 23.2% rise, and FY26 revenue was 5.3% higher than FY25. FY26 net profit rose 18.5% to Rs 4,394.69 crore. Over four years, net profit rose from Rs 3,084.81 crore in FY22 to Rs 4,394.69 crore. In Q1 FY27, revenue grew 18.1% to Rs 10,782.79 crore, and net profit rose 39.6% to Rs 1,559.45 crore. Operating margin was 20.87% in FY26 and 23.26% in Q1 FY27 against 20.78% a year earlier.<\/p>\n<p>Debt to equity is 0.18 and return on equity is 20.24%. FY26 operating cash flow was Rs 7,088.18 crore against capital expenditure of Rs 1,487.32 crore. Asian Paints paid a dividend of Rs 27.5 per share for FY26, a yield of 1.16%. At a P\/E of 47.03 against an industry P\/E of 43.27, the stock trades above its industry multiple.<\/p>\n<p>What to watch: FY26 operating margin of 20.87% is still below the 23.68% of FY24. The P\/E of 47.03 sits above the industry P\/E of 43.27, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Berger_Paints_India_Decorative_Paints_and_Industrial_Coatings_Drive_the_Pipeline\"><\/span><strong>Berger Paints India: Decorative Paints and Industrial Coatings Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Berger Paints&#8217; roadmap rests on its decorative paints range, a growing industrial coatings business and a dealer network that keeps widening in smaller towns.<\/p>\n<p>Revenue grew from Rs 8,826.37 crore in FY22 to Rs 11,986.95 crore in FY26, a 35.8% rise, and FY26 revenue was 3.0% higher than FY25. FY26 net profit fell 4.6% to Rs 1,128.02 crore. Over four years, net profit rose from Rs 832.95 crore in FY22 to Rs 1,128.02 crore. In Q1 FY27, revenue grew 12.2% to Rs 3,622.65 crore, and net profit rose 28.6% to Rs 405.01 crore. Operating margin was 16.31% in FY26 and 18.36% in Q1 FY27 against 16.60% a year earlier.<\/p>\n<p>Debt to equity is 0.09 and return on equity is 16.29%. FY26 operating cash flow was Rs 1,540.04 crore against capital expenditure of Rs 517.97 crore. Berger Paints paid a dividend of Rs 4 per share for FY26, a yield of 0.87%. At a P\/E of 43.89 against an industry P\/E of 43.27, the stock trades above its industry multiple.<\/p>\n<p>What to watch: FY26 revenue growth was 3.0% and net profit was 4.6% lower than FY25. FY26 net profit was 4.6% lower than FY25; the P\/E of 43.89 sits above the industry P\/E of 43.27, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kansai_Nerolac_Paints_Automotive_Coatings_and_Decorative_Paints_Build_the_Next_Leg\"><\/span><strong>Kansai Nerolac Paints: Automotive Coatings and Decorative Paints Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kansai Nerolac&#8217;s roadmap rests on its industrial and automotive coatings, where it has strong customer ties, alongside its decorative paints range.<\/p>\n<p>Revenue grew from Rs 6,394.76 crore in FY22 to Rs 8,197.85 crore in FY26, a 28.2% rise, and FY26 revenue was 3.0% higher than FY25. FY26 net profit fell 48.1% to Rs 575.84 crore. Over four years, net profit rose from Rs 343.15 crore in FY22 to Rs 575.84 crore. In Q1 FY27, revenue grew 9.7% to Rs 2,428.53 crore, and net profit rose 5.9% to Rs 228.41 crore. Operating margin was 11.73% in FY26 and 16.15% in Q1 FY27 against 16.45% a year earlier.<\/p>\n<p>Debt to equity is 0.05 and return on equity is 8.78%. FY26 operating cash flow was Rs 894.37 crore against capital expenditure of Rs 213.12 crore. Kansai Nerolac paid a dividend of Rs 3.75 per share for FY26, a yield of 2.12%. At a P\/E of 24.32 against an industry P\/E of 43.27, the stock trades below its industry multiple.<\/p>\n<p>What to watch: FY26 net profit of Rs 575.84 crore was 48.1% lower than FY25, so the Q1 FY27 recovery needs to hold. FY26 net profit was 48.1% lower than FY25.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Paint_Stocks_in_India_Asian_Paints_vs_Berger_Paints_vs_Kansai_Nerolac_on_Key_Financials\"><\/span><strong>Best Paint Stocks in India: Asian Paints vs Berger Paints vs Kansai Nerolac on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best paint stocks in India, Asian Paints leads on FY26 operating margin and Q1 FY27 revenue growth; Berger Paints leads on five-year revenue growth; Kansai Nerolac leads on the lowest P\/E. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Asian Paints<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Berger Paints<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Kansai Nerolac<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36,307.34<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,986.95<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8,197.85<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Revenue growth FY22 to FY26<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">35.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">28.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,394.69<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,128.02<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">575.84<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-4.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">-48.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating profit margin<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.87%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.31%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.73%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 net profit growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">39.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">28.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.24%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.29%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.78%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">47.03<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">43.89<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.32<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.18<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.09<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.05<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.16%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.87%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.12%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7,088.18<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,540.04<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">894.37<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Paint demand is seasonal and margins follow raw material prices, so one quarter should be read with the full-year trend.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Paints_and_Coatings_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Paints and Coatings Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen paint stocks and shortlist paints and coatings stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which is 43.27 for all three here.<\/li>\n<li>Track operating margin across several quarters, because input costs can move faster than prices.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these paint stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Paint_Stocks\"><\/span><strong>Risks to Consider Before Investing in Paint Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Raw material prices:<\/strong> Crude oil derivatives and titanium dioxide prices can squeeze margins before price increases.<\/li>\n<li><strong>Competition:<\/strong> New large entrants are competing for dealers and market share, which can limit pricing.<\/li>\n<li><strong>Valuation:<\/strong> Asian Paints trades at 47.03 times earnings and Berger at 43.89, against an industry multiple of 43.27, so a miss on volumes can weigh on the stocks.<\/li>\n<li><strong>Demand cycles:<\/strong> Slow housing or weak rural demand can delay repainting.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Asian Paints, Berger Paints and Kansai Nerolac live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three paints and coatings stocks cover decorative leadership with home improvement, decorative and industrial coatings, and automotive coatings. Asian Paints leads on FY26 operating margin and Q1 FY27 revenue growth; Berger Paints leads on five-year revenue growth; Kansai Nerolac leads on the lowest P\/E.<\/p>\n<p>Across paint sector stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the paints and coatings stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Paint_Stocks\"><\/span><strong>FAQs on Paint Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_paint_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best paint stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Asian Paints, Berger Paints India and Kansai Nerolac Paints stand out for their roadmaps in decorative paints and industrial coatings. FY26 revenue growth was 5.3% at Asian Paints, 3.0% at Berger Paints and 3.0% at Kansai Nerolac, and return on equity ranges from 8.78% to 20.24%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Asian_Paints_a_good_stock_to_buy_now\"><\/span><strong>Is Asian Paints a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Asian Paints has a debt to equity ratio of 0.18, a return on equity of 20.24% and a P\/E of 47.03 against an industry P\/E of 43.27. Raw material prices, competition and demand cycles move results, and the stock trades above its industry multiple. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Asian_Paints_Berger_Paints_and_Kansai_Nerolac\"><\/span><strong>What is the P\/E ratio of Asian Paints, Berger Paints and Kansai Nerolac?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 47.03 for Asian Paints (industry 43.27), 43.89 for Berger Paints (industry 43.27) and 24.32 for Kansai Nerolac (industry 43.27). Only Asian Paints and Berger Paints trade at or above the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_paint_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these paint stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Asian Paints has the highest return on equity at 20.24%, followed by Berger Paints India at 16.29% and Kansai Nerolac Paints at 8.78%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_paint_stocks\"><\/span><strong>What are the risks of investing in paint stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are rising raw material costs, new competition, weak housing demand and valuation. Kansai Nerolac&#8217;s FY26 net profit fell 48.1% and Berger&#8217;s fell 4.6%, while Asian Paints&#8217; rose 18.5%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Asian_Paints_Berger_Paints_and_Kansai_Nerolac_perform_in_Q1_FY27\"><\/span><strong>How did Asian Paints, Berger Paints and Kansai Nerolac perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Asian Paints reported revenue of Rs 10,782.79 crore, up 18.1% year on year, and net profit rose 39.6% to Rs 1,559.45 crore. Berger Paints India reported revenue of Rs 3,622.65 crore, up 12.2% year on year, and net profit rose 28.6% to Rs 405.01 crore. Kansai Nerolac Paints reported revenue of Rs 2,428.53 crore, up 9.7% year on year, and net profit rose 5.9% to Rs 228.41 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_paint_stocks_pay_dividends\"><\/span><strong>Do paint stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, all three companies pay dividends. The dividend yield is 1.16% for Asian Paints, 0.87% for Berger Paints and 2.12% for Kansai Nerolac, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_paint_stocks_in_India\"><\/span><strong>How can I invest in paint stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy paint stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best paint stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Asian Paints, Berger Paints India and Kansai Nerolac Paints stand out for their roadmaps in decorative paints and industrial coatings. FY26 revenue growth was 5.3% at Asian Paints, 3.0% at Berger Paints and 3.0% at Kansai Nerolac, and return on equity ranges from 8.78% to 20.24%.\"}},{\"@type\":\"Question\",\"name\":\"Is Asian Paints a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Asian Paints has a debt to equity ratio of 0.18, a return on equity of 20.24% and a P\/E of 47.03 against an industry P\/E of 43.27. Raw material prices, competition and demand cycles move results, and the stock trades above its industry multiple. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of Asian Paints, Berger Paints and Kansai Nerolac?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 47.03 for Asian Paints (industry 43.27), 43.89 for Berger Paints (industry 43.27) and 24.32 for Kansai Nerolac (industry 43.27). Only Asian Paints and Berger Paints trade at or above the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these paint stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Asian Paints has the highest return on equity at 20.24%, followed by Berger Paints India at 16.29% and Kansai Nerolac Paints at 8.78%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in paint stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are rising raw material costs, new competition, weak housing demand and valuation. Kansai Nerolac's FY26 net profit fell 48.1% and Berger's fell 4.6%, while Asian Paints' rose 18.5%.\"}},{\"@type\":\"Question\",\"name\":\"How did Asian Paints, Berger Paints and Kansai Nerolac perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Asian Paints reported revenue of Rs 10,782.79 crore, up 18.1% year on year, and net profit rose 39.6% to Rs 1,559.45 crore. Berger Paints India reported revenue of Rs 3,622.65 crore, up 12.2% year on year, and net profit rose 28.6% to Rs 405.01 crore. Kansai Nerolac Paints reported revenue of Rs 2,428.53 crore, up 9.7% year on year, and net profit rose 5.9% to Rs 228.41 crore.\"}},{\"@type\":\"Question\",\"name\":\"Do paint stocks pay dividends?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Yes, all three companies pay dividends. The dividend yield is 1.16% for Asian Paints, 0.87% for Berger Paints and 2.12% for Kansai Nerolac, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in paint stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy paint stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Asian Paints, Berger Paints India and Kansai Nerolac Paints compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":35,"featured_media":289362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[603,8578,8579,1302,8577],"class_list":["post-289364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-asian-paints","tag-berger-paints-india","tag-kansai-nerolac-paints","tag-paint-stocks","tag-paints-and-coatings-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["289362"],"rank_math_title":["Paint Stocks: Asian Paints, Berger Paints, Kansai Nerolac Roadmap"],"rank_math_description":["Paint stocks with a strong roadmap: Asian Paints, Berger Paints India and Kansai Nerolac Paints compared on growth, margins, valuation and risks. 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