Asian Paints Shares Tumble 7% After 'Lacklustre' Q3 Results; Brokerages Cut Forecasts

• Asian Paints shares dropped nearly 7% on January 28, reaching Rs 2,451, its lowest since October last year, following disappointing Q3 FY26 results.
• The company reported a consolidated net profit of Rs 1,060 crore for Q3 FY26, a 4.6% YoY fall, despite a 4% YoY rise in revenue to Rs 8,867.02 crore.
• Brokerages like Motilal Oswal, JM Financial, CLSA, and HSBC cited soft growth, shorter festive periods, extended monsoons, and cautious management commentary for the poor performance.
• Motilal Oswal reiterated a 'Neutral' rating, while JM Financial maintained 'Reduce' and CLSA an 'Underperform' call, all cutting EPS estimates.
• HSBC downgraded Asian Paints to 'Hold', citing persistent weaker retail demand and disappointing volume/revenue growth.

Why It Matters: Asian Paints' Q3 FY26 results were 'lacklustre', leading to a 7% share drop and brokerages cutting forecasts.