Asian Paints Good quarterly earnings

Asian Paints slipped 1.57% to Rs 1200 at 10:17 IST on BSE despite posting 22.8% rise in net profit to Rs 84.84 crore on 18.84% increase in total income to Rs 879.71 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 1250.95 and a low of Rs 1200 so far during the day. The stock had a 52-week high of Rs 1319.95 on 31 January 2008 and a 52-week low of Rs 751 on 11 May 2007.

The company’s current equity is Rs 95.92 crore. Face value per share is Rs 10.

The current price of Rs 1200 discounts its Q4 March 2008 annualised EPS of Rs 35.38, by a PE multiple of 33.92.

Asian Paints’ net profit rose 37.92% to Rs 375.20 crore on 21.56% increase in total income to Rs 3478.74 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).

The company manufactures and markets paints. The group also manufactures phthalic anhydride and pentaerythritol. The group operates in Australia, Fiji, Solomon Islands, Tonga, Vanuatu, Myanmar, China, Thailand, Malaysia, Singapore, Bangladesh, Nepal, Srilanka, Bahrain, the UAE, Oman, Barbados, Jamaica, Trinidad, Tobago, Egypt, Mauritius and Malta.