Ultramarine [ULTRAMAR] vs Asian Paints [ASIANPAINT] Detailed Stock Comparison

Ultramarine & Pigments Ltd.

BSE
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Asian Paints Ltd.

NSE
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TLDR: Quick Comparison Summary

Based on 20 vital metrics comparison: Ultramarine & Pigments Ltd. wins in 8 metrics, Asian Paints Ltd. wins in 12 metrics, with 0 ties. Asian Paints Ltd. appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Ultramarine & Pigments Ltd. Asian Paints Ltd. Better
P/E Ratio (TTM) 14.12 62.11 Ultramarine & Pigments Ltd.
Price-to-Book Ratio 1.11 12.16 Ultramarine & Pigments Ltd.
Debt-to-Equity Ratio 8.38 17.61 Ultramarine & Pigments Ltd.
PEG Ratio 0.76 -13.83 Ultramarine & Pigments Ltd.
EV/EBITDA 9.65 40.46 Ultramarine & Pigments Ltd.
Profit Margin (TTM) 10.85% 11.10% Asian Paints Ltd.
Operating Margin (TTM) 14.10% 16.55% Asian Paints Ltd.
EBITDA Margin (TTM) 14.10% 16.55% Asian Paints Ltd.
Return on Equity 7.71% 18.28% Asian Paints Ltd.
Return on Assets (TTM) 6.40% 12.07% Asian Paints Ltd.
Free Cash Flow (TTM) $370.79M $25.94B Asian Paints Ltd.
Dividend Yield 1.99% 0.90% Ultramarine & Pigments Ltd.
1-Year Return -25.12% 24.08% Asian Paints Ltd.
Price-to-Sales Ratio (TTM) 1.53 6.88 Ultramarine & Pigments Ltd.
Enterprise Value $12.05B $2,366.75B Asian Paints Ltd.
EV/Revenue Ratio 1.56 6.83 Ultramarine & Pigments Ltd.
Gross Profit Margin (TTM) 28.68% 44.30% Asian Paints Ltd.
Revenue per Share (TTM) $264 $361 Asian Paints Ltd.
Earnings per Share (Diluted) $28.64 $40.01 Asian Paints Ltd.
Beta (Stock Volatility) 0.34 0.20 Asian Paints Ltd.

Ultramarine & Pigments Ltd. vs Asian Paints Ltd. Stock Performance Analysis

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ULTRAMAR
ASIANPAINT

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Ultramarine & Pigments Ltd.1.00%0.50%-7.88%-4.49%-13.46%-9.52%
Asian Paints Ltd.-0.29%3.01%5.13%23.52%-1.47%-0.46%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Ultramarine & Pigments Ltd.-25.12%16.72%13.40%177.71%706.82%860.20%
Asian Paints Ltd.24.08%-17.17%-9.84%174.85%814.95%4,769.55%

Performance & Financial Health Analysis: Ultramarine & Pigments Ltd. vs Asian Paints Ltd.

MetricULTRAMARASIANPAINT
Market Information
Market Cap i₹11.81B₹2.38T
Market Cap CategorySmall capLarge cap
10 Day Avg. Volume i16,5401,454,505
90 Day Avg. Volume i20,6291,385,613
Last Close₹382.60₹2,739.30
52 Week Range₹365.05 - ₹613.95₹2,115.00 - ₹2,985.70
% from 52W High-37.68%-8.25%
All-Time High₹613.95 (Jul 21, 2025)₹3,590.00 (Jan 10, 2022)
% from All-Time High-37.68%-23.70%
Growth Metrics
Quarterly Revenue Growth0.10%0.04%
Quarterly Earnings Growth0.19%-0.05%
Financial Health
Profit Margin (TTM) i0.11%0.11%
Operating Margin (TTM) i0.14%0.17%
Return on Equity (TTM) i0.08%0.18%
Debt to Equity (MRQ) i8.3817.61
Cash & Liquidity
Book Value per Share (MRQ)₹363.98₹204.34
Cash per Share (MRQ)₹22.24₹58.94
Operating Cash Flow (TTM) i₹944.06M₹47.37B
Levered Free Cash Flow (TTM) i₹750.45M₹36.67B
Dividends
Last 12-Month Dividend Yield i1.99%0.90%
Last 12-Month Dividend i₹11.00₹25.05

Valuation & Enterprise Metrics Analysis: Ultramarine & Pigments Ltd. vs Asian Paints Ltd.

MetricULTRAMAR (Apr 26, 2026)ASIANPAINT (Apr 26, 2026)
Price Ratios
P/E Ratio (TTM) i14.1262.11
Forward P/E i23.3449.46
PEG Ratio i0.76-13.83
Price to Sales (TTM) i1.536.88
Price to Book (MRQ) i1.1112.16
Market Capitalization
Market Capitalization i₹11.81B₹2.38T
Enterprise Value i₹12.05B₹2.37T
Enterprise Value Metrics
Enterprise to Revenue i1.566.83
Enterprise to EBITDA i9.6540.46
Risk & Other Metrics
Beta i0.340.20
Book Value per Share (MRQ) i₹363.98₹204.34

Financial Statements Comparison: Ultramarine & Pigments Ltd. vs Asian Paints Ltd.

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricULTRAMAR (2025)ASIANPAINT (2025)
Revenue/Sales i6.92B338.15B
Cost of Goods Sold i4.97B195.92B
COGS % of Revenue i71.9%57.9%
Gross Profit i1.95B142.23B
Gross Margin i28.1%42.1%
Research & Development iN/AN/A
Operating Income (EBIT) i951.26M49.88B
Operating Margin i13.7%14.7%
EBITDA i1.30B63.11B
EBITDA Margin i18.7%18.7%
Pre-Tax Income i995.66M51.03B
Pre-Tax Income % of Revenue i14.4%15.1%
Income Tax i245.21M13.93B
Income Tax % of Revenue i3.5%4.1%
Net Income (Profit) i750.45M37.10B
Profit Margin i10.8%11.0%

Balance Sheet & Liquidity Metrics

MetricULTRAMAR (2025)ASIANPAINT (2025)
Cash & Equivalents i592.61M4.45B
Total Current Assets i2.90B169.92B
Total Current Assets % of Revenue i41.8%50.2%
Total Current Liabilities i989.80M81.41B
Total Current Liabilities % of Revenue i14.3%24.1%
Long-Term Debt i733.67M13.83B
Long-Term Debt % of Revenue i10.6%4.1%
Total Shareholders Equity i9.73B200.59B
Retained Earnings i4.54B145.96B
Retained Earnings % of Revenue i65.7%43.2%
Property, Plant & Equipment i44.44M869.80M

Cash Flow Statement Comparison

MetricULTRAMAR (2025)ASIANPAINT (2025)
Operating Cash Flow i944.06M47.37B
Operating Cash Flow % of Revenue i13.6%14.0%
Capital Expenditures i-522.01M-18.20B
Free Cash Flow i370.79M25.94B
FCF Margin i5.4%7.7%
Debt Repayment i-142.27M-211.60M
Common Stock Repurchase iN/AN/A

Short Interest & Institutional Ownership Analysis

MetricULTRAMARASIANPAINT
Shares Short iN/AN/A
Short Ratio iN/AN/A
Short % of Float iN/AN/A
Shares Outstanding i29.20M958.59M
Float Shares i14.56M442.75M
% Held by Insiders i43.43%52.92%
% Held by Institutions i0.00%27.04%
% Held by Public i56.57%20.04%

Dividend Analysis & Yield Comparison: Ultramarine & Pigments Ltd. vs Asian Paints Ltd.

MetricULTRAMARASIANPAINT
Last 12-Month Dividend i₹11.00₹25.05
Last 12-Month Dividend Yield i1.99%0.90%
3-Year Avg Annual Dividend i₹7.00₹27.95
3-Year Avg Dividend Yield i1.23%0.51%
3-Year Total Dividends i₹21.00₹83.85
Ex-Dividend DateJul 16, 2025Nov 18, 2025