Guidance ledger · Q3 FY26

Asian Paints Ltd ASIANPAINT

3 revisions on record · 1 lowered · 1 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↑ raised Decorative volume growth trajectory Q4 FY25 → Q3 FY26

~~1.8% in Q4FY25; single-digit value growth target FY26~~ → 7.9% Q3FY26 with explicit 8-10% forward band

“band of 8-10% for volume”

→ narrowed Full-year FY26 value growth target Q4 FY25 → Q2 FY26

~~single digit value growths~~ → mid-single-digit value growth with 4-5% V-V gap

“mid-single-digit value growth for the full year”

↓ lowered TiO2 anti-dumping duty raw material impact Q4 FY25 → Q1 FY26

~~not yet quantified; wait and watch~~ → 1.5% to 2.5% of raw material cost

“the impact would be anywhere from 1.5% to 2.5%”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.