A Study on the Financial Performance of Selected Paint Companies in India

The Indian paint industry has witnessed significant growth over the past decade, driven by urbanization, rising disposable incomes, and increasing demand from both the residential and commercial sectors. This study aims to evaluate the financial performance of selected paint companies in India, focusing on key financial metrics such as profitability, liquidity, solvency, and efficiency. The research employs a comparative analysis of financial statements over a five-year period (2020-2024) for three major paint companies: Asian Paints, Berger Paints, Indigo paints, Shalimar paints and Sirac paints. Data is analyzed using financial ratios, trend analysis, and common-size statements to assess the companies’ operational efficiency, financial stability, and growth potential. This research contributes to the existing literature by providing a detailed financial analysis of the sector, which can serve as a benchmark for future studies.