Asian Paints vs Berger Paints: Who Wins the Paint Industry Battle in 2025?

The battle of Asian Paints vs Berger Paints defines India’s decorative paints industry. Together, these two giants control over 70% of India’s paint market, with Asian Paints leading at around 52% market share, followed by Berger Paints at roughly 20%.

In 2025, the paint industry is witnessing intense competition as Grasim’s Birla Opus and Nerolac push into decorative paints. Despite this, Asian Paints and Berger Paints continue to post healthy profits and stable fundamentals. Both stocks remain investor favorites, backed by robust demand in housing, infrastructure, and rural consumption.

The future of India’s paint sector looks promising — rising disposable income, home renovation trends, and waterproofing solutions are expected to push the market beyond Rs. 1.5 lakh crore by 2030.

Asian Paints vs Berger Paints: Key Financials and Product Comparison (2025)

Both companies enjoy strong brand loyalty. Asian Paints dominates premium categories and end-to-end home solutions, while Berger Paints focuses on value and mid-tier segments with its popular WeatherCoat and Bison ranges.

Asian Paints vs Berger Paints: Shareholding Pattern Comparison (September 2025)

Analysis:

• Asian Paints has a diversified institutional base, reflecting confidence from global funds.

• Berger Paints shows higher promoter holding with zero pledging — a sign of financial cleanliness and strong control.

• From an investor’s standpoint, Berger’s 0% promoter pledge strengthens its fundamentals slightly over Asian Paints.

Conclusion: Which is Fundamentally Better?

When comparing Asian Paints vs Berger Paints fundamentals, both companies exhibit positive earnings, strong balance sheets, and zero negative financial metrics.

• Asian Paints leads in scale, profitability, and innovation, though promoter shares are partially pledged.

• Berger Paints scores higher in clean fundamentals, with no pledged shares and steady profitability growth.

Final Verdict:

• Best Overall Leader: Asian Paints — market dominance, diversified portfolio, and premium positioning.

• Best for Clean Fundamentals (No Negative Numbers): Berger Paints — zero pledge, stable ratios, and consistent EPS growth.

Both remain long-term compounders, but investors preferring “no negatives” in fundamentals may lean slightly toward Berger Paints, while those seeking market leadership and scale advantage should opt for Asian Paints.

FAQ on Asian Paints vs Berger Paints

1. What is the current share price of Asian Paints and Berger Paints?

As of October 2025, Asian Paints trades around ?2,520, while Berger Paints trades at approximately ?540.5 on the NSE. Both companies have delivered stable performance in the Indian stock market.

2. Which company has a higher market share in India?

Asian Paints leads the Indian decorative paints market with an estimated 52% market share, while Berger Paints holds about 20%. Asian Paints dominates the premium segment, whereas Berger focuses on mid-tier and value categories.

3. Which is better — Asian Paints or Berger Paints?

Both companies have strong fundamentals.

• Asian Paints is stronger in terms of scale, distribution, and product innovation.

• Berger Paints has cleaner fundamentals with 0% promoter pledge and consistent profitability.
  If you prefer leadership and long-term dominance, Asian Paints is better. For clean, risk-free fundamentals, Berger Paints has an edge.

4. What are the top products of Asian Paints and Berger Paints?

Asian Paints’ top products: Royale, Apex Ultima, Tractor Emulsion, SmartCare, and Beautiful Homes Painting Service.
Berger Paints’ top products: WeatherCoat, Silk, Bison, Luxol, and HomeShield.
Both brands offer strong waterproofing and decorative solutions across price segments.

5. What is the shareholding pattern of Asian Paints vs Berger Paints?

As of September 2025:

• Asian Paints: Promoters 52.63%, FII 11.64%, Mutual Funds 10.89%, with ~9.09% promoter pledge.

• Berger Paints: Promoters 74.98%, FII 5.35%, Mutual Funds 5.82%, with 0% promoter pledge.
  Berger’s higher promoter holding and no pledged shares reflect strong internal control and cleaner balance sheets.

6. Which paint company has better fundamentals with no negative numbers?

Both companies report positive earnings, zero losses, and healthy ROE/ROCE. However, Berger Paints stands out for having no pledged shares and no negative metrics, making it slightly better in terms of “no negatives” in fundamentals.

7. What is the future outlook for the Indian paint industry?

The Indian paint sector is projected to grow at a CAGR of 10–12% through 2030, driven by housing demand, waterproofing, and premium paint trends. Both Asian Paints and Berger Paints are positioned to benefit from this long-term expansion.