Historical Financial Statement - ASIAN PAINTS LTD

Years Mar 14 Mar 15 Mar 16 Mar 17 Mar 18 Mar 19 Mar 20 Mar 21 Mar 22 Mar 23

# Income Statement
Sales ₹ 12,220 ₹ 13,615 ₹ 14,271 ₹ 15,062 ₹ 16,825 ₹ 19,240 ₹ 20,211 ₹ 21,713 ₹ 29,101 ₹ 34,489
Sales Growth 11.41% 4.82% 5.54% 11.70% 14.36% 5.05% 7.43% 34.03% 18.51%

COGS ₹ 8,439 ₹ 9,299 ₹ 9,414 ₹ 9,733 ₹ 11,194 ₹ 12,906 ₹ 13,158 ₹ 14,035 ₹ 20,591 ₹ 23,767
COGS % Sales 69.06% 68.30% 65.96% 64.62% 66.53% 67.08% 65.10% 64.64% 70.75% 68.91%

Gross Profit ₹ 3,781 ₹ 4,316 ₹ 4,858 ₹ 5,329 ₹ 5,630 ₹ 6,334 ₹ 7,053 ₹ 7,678 ₹ 8,511 ₹ 10,722
Gross Margins 30.94% 31.70% 34.04% 35.38% 33.47% 32.92% 34.90% 35.36% 29.25% 31.09%

Selling & Genaral Expenses ₹ 1,778 ₹ 2,074 ₹ 2,133 ₹ 2,336 ₹ 2,426 ₹ 2,569 ₹ 2,896 ₹ 2,822 ₹ 3,707 ₹ 4,462
S&G % Sales 14.55% 15.23% 14.94% 15.51% 14.42% 13.35% 14.33% 13.00% 12.74% 12.94%

EBITDA ₹ 2,004 ₹ 2,243 ₹ 2,725 ₹ 2,994 ₹ 3,204 ₹ 3,765 ₹ 4,157 ₹ 4,856 ₹ 4,804 ₹ 6,260
EBITDA Margins 16.40% 16.47% 19.09% 19.88% 19.04% 19.57% 20.57% 22.36% 16.51% 18.15%

Deprication ₹ 246 ₹ 266 ₹ 276 ₹ 335 ₹ 360 ₹ 622 ₹ 781 ₹ 791 ₹ 816 ₹ 858
Deprication % Sales 2.01% 1.95% 1.93% 2.22% 2.14% 3.23% 3.86% 3.64% 2.81% 2.49%

EBIT ₹ 1,758 ₹ 1,977 ₹ 2,449 ₹ 2,659 ₹ 2,844 ₹ 3,143 ₹ 3,376 ₹ 4,064 ₹ 3,987 ₹ 5,402
EBIT Margins 14.39% 14.52% 17.16% 17.65% 16.90% 16.33% 16.71% 18.72% 13.70% 15.66%

Interest ₹ 48 ₹ 42 ₹ 49 ₹ 37 ₹ 41 ₹ 110 ₹ 102 ₹ 92 ₹ 95 ₹ 144

EBT ₹ 1,710 ₹ 1,935 ₹ 2,400 ₹ 2,622 ₹ 2,802 ₹ 3,032 ₹ 3,274 ₹ 3,973 ₹ 3,892 ₹ 5,257
EBT Margins 13.99% 14.21% 16.82% 17.41% 16.65% 15.76% 16.20% 18.30% 13.37% 15.24%

Tax ₹ 572 ₹ 650 ₹ 844 ₹ 943 ₹ 1,041 ₹ 1,098 ₹ 855 ₹ 1,098 ₹ 1,103 ₹ 1,494
Tax Rate 33.42% 33.57% 35.18% 35.98% 37.15% 36.21% 26.11% 27.63% 28.34% 28.41%

Net Income ₹ 1,139 ₹ 1,285 ₹ 1,556 ₹ 1,678 ₹ 1,761 ₹ 1,934 ₹ 2,419 ₹ 2,875 ₹ 2,789 ₹ 3,764
NI Margins 9.32% 9.44% 10.90% 11.14% 10.47% 10.05% 11.97% 13.24% 9.58% 10.91%

No of Equity Share 285.72 288.74 288.74 288.72 288.73 288.73 288.73 308.9 332.03 332.07

EPS ₹ 4.0 ₹ 4.5 ₹ 5.4 ₹ 5.8 ₹ 6.1 ₹ 6.7 ₹ 8.4 ₹ 9.3 ₹ 8.4 ₹ 11.3
EPS Growth 11.70% 21.07% 7.87% 4.93% 9.83% 25.07% 11.09% -9.75% 34.94%

Dividend Per Share ₹ 1.8 ₹ 2.0 ₹ 2.5 ₹ 3.4 ₹ 2.9 ₹ 3.5 ₹ 4.0 ₹ 5.5 ₹ 5.5 ₹ 7.4
Dividend Payout Ratio 44.65% 45.53% 46.23% 58.87% 47.38% 52.07% 47.58% 59.55% 65.86% 65.37%

Retained Earnings 55.35% 54.47% 53.77% 41.13% 52.62% 47.93% 52.42% 40.45% 34.14% 34.63%
# Balance Sheet
Equity Share Capital ₹ 96 ₹ 96 ₹ 96 ₹ 96 ₹ 96 ₹ 96 ₹ 96 ₹ 96 ₹ 96 ₹ 96
Reserves ₹ 3,943 ₹ 4,646 ₹ 6,429 ₹ 7,508 ₹ 8,314 ₹ 9,375 ₹ 10,034 ₹ 12,710 ₹ 13,716 ₹ 15,896
Total Shareholder Equity ₹ 4,039 ₹ 4,742 ₹ 6,525 ₹ 7,604 ₹ 8,410 ₹ 9,471 ₹ 10,130 ₹ 12,806 ₹ 13,812 ₹ 15,992

Borrowings
Long term Borrowings ₹ 41 ₹ 78 ₹ 73 ₹ 41 ₹ 28 ₹ 19 ₹ 19 ₹ 15 ₹ 45 ₹ 76
Short term Borrowings ₹ 199 ₹ 332 ₹ 231 ₹ 504 ₹ 492 ₹ 597 ₹ 321 ₹ 334 ₹ 731 ₹ 896
Lease Liabilities - - - - - ₹ 693 ₹ 764 ₹ 745 ₹ 811 ₹ 960
Other Borrowings ₹9 ₹8 ₹ 20 ₹ 15 ₹ 13 ₹ 11 ₹ 15 - - -
Other Liabilities
Non controlling int ₹ 246 ₹ 264 ₹ 384 ₹ 375 ₹ 328 ₹ 361 ₹ 404 ₹ 423 ₹ 388 ₹ 454
Trade Payables ₹ 1,746 ₹ 1,549 ₹ 1,565 ₹ 1,923 ₹ 2,160 ₹ 2,394 ₹ 2,137 ₹ 3,379 ₹ 4,164 ₹ 3,635
Advance from Customers - ₹5 ₹ 12 ₹ 17 ₹ 16 ₹ 13 ₹ 29 ₹ 41 ₹ 76 ₹ 108
Other liability items ₹ 1,795 ₹ 1,937 ₹ 1,750 ₹ 1,925 ₹ 2,316 ₹ 2,690 ₹ 2,320 ₹ 2,613 ₹ 2,932 ₹ 3,657
Total Liabilities ₹ 4,036 ₹ 4,173 ₹ 4,035 ₹ 4,800 ₹ 5,353 ₹ 6,778 ₹ 6,009 ₹ 7,550 ₹ 9,147 ₹ 9,786

Total Liabilites and Equity ₹ 8,075 ₹ 8,915 ₹ 10,560 ₹ 12,404 ₹ 13,763 ₹ 16,249 ₹ 16,139 ₹ 20,356 ₹ 22,959 ₹ 25,778

Non-Current Assets
Land ₹ 247 ₹ 251 ₹ 429 ₹ 408 ₹ 586 ₹ 605 ₹ 640 ₹ 644 ₹ 644 ₹ 799
Building ₹ 931 ₹ 962 ₹ 923 ₹ 931 ₹ 957 ₹ 2,402 ₹ 2,257 ₹ 2,249 ₹ 2,325 ₹ 2,617
Plant Machinery ₹ 2,054 ₹ 2,132 ₹ 1,793 ₹ 1,980 ₹ 2,157 ₹ 4,006 ₹ 4,208 ₹ 4,340 ₹ 4,531 ₹ 4,825
Equipments ₹ 155 ₹ 171 ₹ 97 ₹ 119 ₹ 200 ₹ 221 ₹ 241 ₹ 243 ₹ 253 ₹ 270
Furniture n fittings ₹ 71 ₹ 83 ₹ 49 ₹ 59 ₹ 72 ₹ 88 ₹ 94 ₹ 99 ₹ 113 ₹ 146
Vehicles ₹ 14 ₹ 18 ₹ 11 ₹ 14 ₹ 27 ₹ 47 ₹ 43 ₹ 38 ₹ 32 ₹ 30
Intangible Assets ₹ 203 ₹ 351 ₹ 339 ₹ 276 ₹ 468 ₹ 512 ₹ 505 ₹ 476 ₹ 345 ₹ 330
Other fixed assets ₹ 128 ₹ 145 ₹ 103 ₹ 128 ₹ 238 ₹ 261 ₹ 293 ₹ 302 ₹ 294 ₹ 289
Gross Block ₹ 3,803 ₹ 4,113 ₹ 3,744 ₹ 3,915 ₹ 4,705 ₹ 8,142 ₹ 8,281 ₹ 8,391 ₹ 8,537 ₹ 9,306
Accumulated Depreciation ₹ 1,223 ₹ 1,438 ₹ 275 ₹ 610 ₹ 973 ₹ 1,592 ₹ 2,010 ₹ 2,533 ₹ 3,019 ₹ 3,536

Net Block ₹ 2,580 ₹ 2,675 ₹ 3,469 ₹ 3,305 ₹ 3,732 ₹ 6,550 ₹ 6,271 ₹ 5,858 ₹ 5,518 ₹ 5,770

CWIP ₹ 72 ₹ 196 ₹ 107 ₹ 258 ₹ 1,405 ₹ 210 ₹ 140 ₹ 183 ₹ 426 ₹ 1,020
Investments ₹ 1,424 ₹ 1,588 ₹ 2,712 ₹ 2,652 ₹ 2,141 ₹ 2,569 ₹ 2,019 ₹ 4,737 ₹ 3,248 ₹ 4,262

Total Non-Current Assets ₹ 4,076 ₹ 4,459 ₹ 6,288 ₹ 6,215 ₹ 7,278 ₹ 9,329 ₹ 8,430 ₹ 10,778 ₹ 9,192 ₹ 11,052

Current Assets
Inventories ₹ 2,070 ₹ 2,259 ₹ 1,998 ₹ 2,627 ₹ 2,658 ₹ 3,150 ₹ 3,390 ₹ 3,799 ₹ 6,153 ₹ 6,211
Trade receivables ₹ 1,110 ₹ 1,182 ₹ 1,187 ₹ 1,447 ₹ 1,731 ₹ 1,907 ₹ 1,795 ₹ 2,602 ₹ 3,871 ₹ 4,637
Cash Equivalents ₹ 229 ₹ 204 ₹ 424 ₹ 801 ₹ 405 ₹ 445 ₹ 783 ₹ 611 ₹ 864 ₹ 844
Short term loans ₹7 ₹9 ₹9 ₹ 14 ₹ 13 ₹ 16 ₹ 12 ₹ 11 ₹8 ₹ 12
Other asset items ₹ 603 ₹ 817 ₹ 705 ₹ 1,303 ₹ 1,678 ₹ 1,456 ₹ 1,727 ₹ 2,555 ₹ 2,869 ₹ 3,024
Total Current Assets ₹ 4,019 ₹ 4,471 ₹ 4,323 ₹ 6,192 ₹ 6,485 ₹ 6,974 ₹ 7,707 ₹ 9,578 ₹ 13,765 ₹ 14,728

Total Assets ₹ 8,095 ₹ 8,930 ₹ 10,611 ₹ 12,407 ₹ 13,763 ₹ 16,303 ₹ 16,137 ₹ 20,356 ₹ 22,957 ₹ 25,780
# Cash Flow Statement
Operating Activity
Profit from operations ₹ 2,051 ₹ 2,271 ₹ 2,848 ₹ 3,056 ₹ 3,274 ₹ 3,861 ₹ 4,380 ₹ 4,970 ₹ 4,957 ₹ 6,460
Receivables (₹ 254) (₹ 155) (₹ 146) (₹ 475) (₹ 483) (₹ 205) ₹ 160 (₹ 849) (₹ 1,326) (₹ 834)
Inventory (₹ 231) (₹ 144) ₹ 202 (₹ 629) (₹ 39) (₹ 492) (₹ 251) (₹ 409) (₹ 2,354) (₹ 56)
Payables ₹ 317 (₹ 151) ₹ 142 ₹ 501 ₹ 442 ₹ 287 (₹ 241) ₹ 1,143 ₹ 644 (₹ 539)
Other WC items - - - - - - - (₹ 92) ₹ 242 ₹ 657
Working capital changes (₹ 168) (₹ 450) ₹ 198 (₹ 603) (₹ 80) (₹ 410) (₹ 331) (₹ 206) (₹ 2,795) (₹ 772)
Direct taxes (₹ 480) (₹ 633) (₹ 802) (₹ 925) (₹ 1,081) (₹ 982) (₹ 1,011) (₹ 1,080) (₹ 1,176) (₹ 1,494)
Cash from Operating Activity ₹ 1,235 ₹ 738 ₹ 2,442 ₹ 925 ₹ 2,033 ₹ 2,059 ₹ 2,706 ₹ 3,477 (₹ 1,808) ₹ 3,422

Investing Activity
Fixed assets purchased (₹ 251) (₹ 454) (₹ 817) (₹ 684) (₹ 1,426) (₹ 1,151) (₹ 404) (₹ 282) (₹ 551) (₹ 1,446)
Fixed assets sold ₹ 16 ₹ 16 ₹ 15 ₹ 17 ₹ 17 ₹ 17 ₹ 37 ₹ 28 ₹ 40 ₹ 26
Investments purchased (₹ 872) (₹ 243) (₹ 282) (₹ 153) (₹ 320) (₹ 573) (₹ 25) (₹ 140) - (₹ 146)
Investments sold ₹ 463 ₹ 278 ₹ 205 ₹ 357 ₹ 362 ₹ 733 ₹ 134 ₹ 272 ₹ 207 ₹ 446
Interest received ₹ 14 ₹ 11 ₹ 15 ₹ 32 ₹ 39 ₹ 40 ₹ 65 ₹ 73 ₹ 77 ₹ 87
Dividends received ₹ 65 ₹ 71 ₹ 69 ₹ 74 ₹ 38 ₹ 40 ₹ 27 ₹8 ₹ 15 ₹ 56
Investment in group cos - - - - - - - - - (₹ 180)
Redemp n Canc of Shares - - - - ₹ 141 - - - - -
Acquisition of companies - - - - (₹ 525) - - - - -
Other investing items (₹ 21) (₹ 144) (₹ 70) (₹ 324) ₹ 118 (₹ 24) (₹ 353) (₹ 500) (₹ 105) (₹ 126)
Cash from Investing Activity (₹ 586) (₹ 465) (₹ 865) (₹ 681) (₹ 1,556) (₹ 918) (₹ 519) (₹ 541) (₹ 317) (₹ 1,283)

Financing Activity
Proceeds from borrowings ₹ 44 ₹ 239 ₹8 ₹ 271 ₹ 10 ₹ 243 ₹ 18 ₹ 155 ₹ 418 ₹ 254
Repayment of borrowings (₹ 81) (₹ 86) (₹ 119) (₹ 58) (₹ 54) (₹ 26) (₹ 279) (₹ 14) (₹ 8) (₹ 25)
Interest paid fin (₹ 42) (₹ 35) (₹ 40) (₹ 36) (₹ 35) (₹ 106) (₹ 101) (₹ 89) (₹ 94) (₹ 142)
Dividends paid (₹ 547) (₹ 695) (₹ 764) (₹ 947) (₹ 1,218) (₹ 1,049) (₹ 2,121) (₹ 499) (₹ 1,763) (₹ 1,936)
Financial liabilities - - - - - (₹ 180) (₹ 179) (₹ 203) (₹ 221) (₹ 256)
Other financing items - - ₹ 66 ₹ 13 (₹ 82) - (₹ 209) - (₹ 140) (₹ 36)
Cash from Financing Activity (₹ 626) (₹ 577) (₹ 849) (₹ 757) (₹ 1,379) (₹ 1,118) (₹ 2,871) (₹ 650) (₹ 1,808) (₹ 2,141)

Net Cash Flow ₹ 23 (₹ 304) ₹ 728 (₹ 513) (₹ 902) ₹ 23 (₹ 684) ₹ 2,286 (₹ 3,933) (₹ 2)