ASIANPAINT
Asian Paints
Is ASIANPAINT Halal?
Paint manufacturer — industrial consumer products.
What You Should Know
Asian Paints' FY2025-26 consolidated annual report shows ₹34,534.49 crore of assets, ₹3,928.93 crore of borrowings and leases, ₹672.83 crore of cash, ₹6,405.65 crore of investments, ₹4,467.16 crore of trade receivables and ₹36,307.34 crore of total income. Debt/assets is 11.38%, liquidity/assets is 20.50%, receivables-plus-cash/assets is 14.88% and disclosed interest income is ₹162.51 crore, or 0.45% of total income. The known financial ratios pass, while prohibited revenue, market-cap denominators and industrial/home-décor end uses remain qualitative or incomplete.
⚠️ Concerns
- •Industrial coatings can serve automotive, marine and other end uses not quantified by prohibited category
- •Home décor, lighting, furnishings and international subsidiaries have different product mixes
- •Debt/assets is 11.38% and liquidity/assets is 20.50% under the examined asset screens
- •Disclosed interest income is 0.45% of total income; no fixed purification percentage is asserted
- •Market-cap denominator methods and a universal prohibited-revenue numerator remain incomplete
Current quantitative Sharia screen
Based on annual-report figures for the period ended 2026-03-31; calculated 2026-07-15.
3,928.93 / 34,534.49
7,078.48 / 34,534.49
5,139.99 / 34,534.49
162.51 / 36,307.34
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 11.38%, liquidity/assets is 20.50%, receivables-plus-cash/assets is 14.88% and disclosed interest income is 0.45%; known ratios pass, but activity and prohibited-revenue inputs remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 11.38%, liquidity/assets is 20.50% and receivables-plus-cash/assets is 14.88%, below the examined MSCI limits; activity and prohibited-revenue inputs remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 11.38% and liquidity/assets is 20.50%, below the examined Malaysia limits; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A licensed 24- or 36-month market-cap series is not stored; market-cap denominator methods are not calculated.
Business-activity disclosure
Asian Paints manufactures decorative and industrial coatings and provides home-décor products and services. The core products are generally permissible, while industrial end uses, advertising and subsidiary activity remain qualitative.
Limitation: The annual report does not provide a universal prohibited-revenue numerator for every scholar or methodology, so no unsupported haram-revenue percentage is asserted.
Purification
Consolidated interest income of ₹162.51 crore is disclosed, but no scholar-approved purification percentage is calculated and prohibited-revenue classification remains incomplete.
Inputs, assumptions and primary sources
- Amounts are INR crore from Asian Paints' FY2025-26 consolidated annual report audited May 29, 2026.
- Debt includes consolidated borrowings of ₹2,293.26 crore and lease liabilities of ₹1,635.67 crore; cash uses ₹672.83 crore of cash and cash equivalents; investments use ₹119.82 crore non-current plus ₹6,285.83 crore current investments.
- Trade receivables are ₹5.36 crore non-current plus ₹4,461.80 crore current. Total income is ₹36,307.34 crore; disclosed consolidated interest income is ₹153.97 crore on amortised-cost assets plus ₹8.54 crore on debt instruments.
- Known ratios are reproducible balance-sheet calculations; prohibited-revenue classification and market-cap denominator remain incomplete.
- The annual report describes decorative/home décor, international and industrial businesses; segment-level product and end-use classification remains qualitative.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
Similar Stocks
Want to screen more assets?
Use our interactive Halal Checker to screen any stock, ETF, or crypto instantly.
Go to Halal Checker →