Asian Paints vs Berger Paints India: Which Stock Should You Track

Asian Paints vs Berger Paints India is a comparison paint sector investors look up when evaluating India's two largest paint companies. Asian Paints is India's market leader in decorative paints by a wide margin, with significant international operations across 13 countries, while Berger Paints is the second largest decorative paint company in India with operations in Nepal and Bangladesh.

This Asian Paints vs Berger Paints India article covers reach and market position, key products, latest declared results and stock valuation. The Asian Paints vs Berger Paints India data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

Asian Paints vs Berger Paints India: Reach and Market Position

On the Asian Paints side of the Asian Paints vs Berger Paints India comparison, Asian Paints distributes through over 80,000 dealer touchpoints in India and has manufacturing in 13 countries including Egypt, Indonesia, Ethiopia and the Middle East. Market capitalisation is Rs 2,63,300 Cr.

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On the Berger Paints India side of the Asian Paints vs Berger Paints India comparison, Berger Paints distributes through 50,000-plus dealers in India with manufacturing in West Bengal, Rajasthan and abroad in Nepal and Bangladesh. Market capitalisation is Rs 62,241 Cr.

Asian Paints vs Berger Paints India: Key Products and Business Mix

In the Asian Paints vs Berger Paints India product comparison, Asian Paints offers: Asian Paints makes decorative paints under the Royale, Apcolite and Apex brands, and industrial coatings and White Teak woodfinishes. P/E is 54.43x, ROE 20.24 percent, debt to equity 0.18. Dividend yield is 1.00 percent.

For Berger Paints India in this Asian Paints vs Berger Paints India breakdown: Berger Paints makes decorative paints under the WeatherCoat, Silk and Luxol brands, plus industrial and automotive coatings. P/E is 55.20x, ROE 16.29 percent, debt to equity 0.09. Dividend yield is 0.75 percent.

Asian Paints vs Berger Paints India: Latest Results

The Asian Paints vs Berger Paints India results for Asian Paints: Asian Paints has a market cap of Rs 2,63,300 Cr and P/E of 54.43x. ROE is 20.24 percent. Asian Paints is over 4 times larger than Berger Paints by market cap.

The Asian Paints vs Berger Paints India results for Berger Paints India: Berger Paints has a market cap of Rs 62,241 Cr and P/E of 55.20x — at virtually the same P/E as Asian Paints. ROE is 16.29 percent. Dividend yield is 0.75 percent.

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Asian Paints vs Berger Paints India: Stock and Valuation

The Asian Paints vs Berger Paints India stock comparison uses the latest available market data from Groww. Investors tracking Asian Paints vs Berger Paints India should verify current prices on NSE or BSE before trading.

Asian Paints trades at a market cap of Rs 2,63,300 Cr and P/E of 54.43x with ROE of 20.24 percent. Berger Paints trades at Rs 62,241 Cr market cap and P/E of 55.20x, nearly the same P/E as Asian Paints despite being 4 times smaller by market cap. Berger has lower ROE of 16.29 percent.

Asian Paints vs Berger Paints India: Quick Comparison Table

The Asian Paints vs Berger Paints India comparison table below summarises the key metrics covered in this article side by side.

Parameter	Asian Paints	Berger Paints India
Sector	Decorative and industrial paints	Decorative and industrial paints
Market Cap	Rs 2,63,300 Cr	Rs 62,241 Cr
P/E Ratio	54.43x	55.20x
ROE	20.24%	16.29%
Debt to Equity	0.18	0.09
Dividend Yield	1.00%	0.75%
International presence	13 countries including Egypt and Indonesia	Nepal and Bangladesh
Market position	No.1 in India by market share	No.2 in India

Conclusion

The Asian Paints vs Berger Paints India comparison above covers the key data points on reach, products, results and valuation. Asian Paints vs Berger Paints trade at virtually identical P/E multiples despite Asian Paints being four times larger. Asian Paints delivers a higher ROE and has greater international diversification. Berger Paints has lower debt and a growing domestic presence. Investors should review paint demand cycles, volume growth and competitive pricing and consult a SEBI-registered advisor before investing.

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Frequently Asked Questions

What is the main difference between Asian Paints and Berger Paints?

Ans. Asian Paints is India's largest paint company with over 80,000 dealer touchpoints and operations in 13 countries. Berger Paints is India's second largest decorative paint company with smaller international operations in Nepal and Bangladesh.

Do both stocks trade at the same P/E?

Ans. Yes. Asian Paints trades at 54.43x and Berger Paints at 55.20x — nearly identical P/E multiples despite Asian Paints being four times larger.

Which company has the higher ROE?

Ans. Asian Paints has an ROE of 20.24 percent, higher than Berger Paints at 16.29 percent.

Which company has lower debt?

Ans. Berger Paints has a debt to equity of 0.09, lower than Asian Paints at 0.18.

How does Grasim competition affect Asian Paints?

Ans. Grasim Industries entered decorative paints as Birla Opus, adding competitive pressure to Asian Paints' dominant market share. This contributed to Asian Paints' margin compression in FY25 and FY26.

What risks apply to paint companies?

Ans. Both companies face risk from titanium dioxide and crude-derived input cost inflation, new competition from Grasim and JSW Paints, and any slowdown in residential construction and renovation.

Should I invest in Asian Paints or Berger Paints?

Ans. Asian Paints has higher ROE and global scale at the same P/E. Berger has lower debt. Review volume growth and consult a SEBI-registered advisor before investing.