30-Oct-2026 08:08:20

JEFFERIES ON ASIAN PAINTS ; BUY | TP ₹3,025 (EARLIER ₹3,350)

• Jefferies maintains Buy rating on Asian Paints and cuts target price to ₹3,025 from ₹3,350. • Expects decorative paints volume growth of 8–9% in H2 FY27, supported by festive and wedding demand. • Retains FY27 EBITDA margin guidance of 18–20%. • Additional price hikes expected to offset rising input-cost inflation and support profitability. • VAM/VAE backward integration expected to deliver a 3–5 percentage-point benefit at full potential.

ASIAN PAINTS LIMITED

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