Best Paint Stocks in May 2025: Asian Paints, Berger Paints, Sirca and More- Based on 5-Year CAGR

Paint stocks play a crucial role in India’s development journey, mirroring the rising need for housing, infrastructure, and industrial expansion. The Indian paint sector has experienced remarkable growth, fueled by a strong and expanding market that features some of the world’s largest and fastest-growing paint manufacturers. This article takes a closer look at the best paint stocks in May 2025 based on 5-year CAGR, market cap and net profit margin.

Best Paint Stocks in India in May 2025 – 5-Year CAGR Basis

Note: The list of best paint stocks in May 2025 has been selected based on the market cap of over ₹1,000 crore and sorted based on 5-year CAGR as of May 08, 2025. 

Read More, Best Ethanol Stocks in May 2025 Based on 5Y CAGR: Piccadily Agro, Triveni Engineering & More. 

Overview of Best Paint Stocks in India

1. Sirca Paints India Ltd

Sirca Paints India Ltd specialises in high-end wood coatings, decorative paints, and industrial finishes. Drawing on its Italian roots, the company targets premium customers looking for top-quality and visually appealing finishes for interiors and furniture. Its products are known for durability and aesthetic excellence.

In the financial year ending March 31, 2023, Sirca Paints India reported operating revenue between ₹100 crore and ₹500 crore. The company posted strong financial performance, with EBITDA surging by 63.45% and book net worth increasing by 17.93% year-on-year.

Key metrics:

• Earning per Share (EPS): ₹8.66
• Return On Equity (ROE):17.91%

2. Asian Paints Ltd

Asian Paints Ltd stands as India’s leading paint manufacturer and a key global player in both decorative and industrial coatings. The company is known for its advanced solutions in interior décor, wall finishes, and waterproofing. With a strong reputation for quality and an expansive colour palette, Asian Paints continues to set benchmarks in the industry.

In terms of financial performance, the company posted quarterly revenues of ₹7,320.53 crore in December 2024 and ₹6,868.37 crore in September 2024. For the full financial year 2023–24, revenue reached ₹30,850.12 crore. Net profit stood at ₹1,108.59 crore for December 2024, ₹602.31 crore for September 2024, and ₹5,321.55 crore for the year.

Key metrics:

• Earning per Share (EPS): ₹42.88
• Return On Equity (ROE): 23.18%

3. Berger Paints India Ltd

Berger Paints India Ltd is a key player in the Indian paint sector, known for its wide-ranging portfolio that includes both decorative and industrial coatings. The company is recognised for its focus on innovation and eco-friendly solutions, offering interior and exterior paints, as well as protective coatings, to a diverse customer base. 

Financially, the company reported revenues of ₹2,584.76 crore in the December 2024 quarter and ₹2,430.70 crore in the September 2024 quarter. For the full financial year 2023–24, Berger Paints posted total revenue of ₹10,002.93 crore. Net profit for the same periods stood at ₹306.08 crore (Dec-24), ₹228.98 crore (Sep-24), and ₹1,015.05 crore for the full year.

Key metrics:

• Earning per Share (EPS): ₹8.77
• Return On Equity (ROE):19.91%

4. Kansai Nerolac Paints Ltd

Kansai Nerolac Paints Ltd is a prominent name in both decorative and industrial paints, with a strong presence in sectors like automotive coatings, powder coatings, and general industrial applications. 

For the financial year 2023–24, Kansai Nerolac reported total revenue of ₹7,393.30 crore, with quarterly revenues of ₹1,842.16 crore in December 2024 and ₹1,863.77 crore in September 2024. Net profit for the same periods was ₹526.49 crore (Dec-24), ₹130.16 crore (Sep-24), and ₹1,182.87 crore for the year.

Key metrics:

• Earning per Share (EPS): ₹29.51
• Return On Equity (ROE):14.76%

5. Indigo Paints Ltd

Indigo Paints Ltd is an emerging force in the Indian paint industry, known for its creative and differentiated product lineup. Specialising in decorative coatings, the company offers a range of interior emulsions, enamels, primers, and unique options like metallic paints—positioning itself with a blend of quality, affordability, and innovation.

In FY23–24, Indigo Paints posted a total revenue of ₹1,254.86 crore, with quarterly revenue of ₹327.48 crore in December 2024 and ₹288.55 crore in September 2024. Net profit stood at ₹36.46 crore (Dec-24), ₹24.12 crore (Sep-24), and ₹148.65 crore for the fiscal year.

Key metrics:

• Earning per Share (EPS): ₹29.51
• Return On Equity (ROE):14.76%

Best Paint Stocks in India in May 2025 – Market Cap Basis

Note: The list of best paint stocks in May 2025 has been selected based on the market cap of over ₹1,000 crore and sorted based on market cap as of May 08, 2025. 

Best Paint Stocks in India in May 2025 – Net Profit Margin Basis

Note: The list of best paint stocks in May 2025 has been selected based on the market cap of over ₹1,000 crore and sorted based on net profit margin as of May 08, 2025. 

Things to Keep in Mind When  Investing in Top Paint Stocks in India

Market Leadership and Brand Value

Major players like Asian Paints Ltd and Berger Paints dominate the market, offering investors stability and consistent returns.

Impact of Raw Material Costs

Price volatility in essential inputs, especially crude oil-based products, can directly influence margins. Monitoring these cost trends is vital for evaluating profitability.

Economic Conditions

Macro indicators such as GDP growth, construction trends, and consumer spending significantly shape paint demand. Economic downturns could lead to reduced sales.

Innovation and Eco-Friendly Focus

Companies that invest in sustainable and innovative products are better positioned to meet evolving consumer expectations and outperform peers.

Regulatory Obligations

Compliance with environmental and safety norms can impact operational expenses. Tougher regulations might lead to higher costs for paint makers.

Financial Health

Analysing metrics like revenue trends, profit margins, debt ratios, and return on equity gives insight into a company's financial stability and long-term potential.

Conclusion

For investors, paint stocks present a vibrant mix of strong fundamentals, brand value, and growth potential. Evaluating metrics like profit margins, return on equity, and raw material cost sensitivity is crucial. With the right picks, paint stocks can be a colourful and profitable addition to any investment portfolio.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.