INTRODUCTION
Asian Paints is India’s largest and Asia’s leading paint company, established in 1942, with a strong
presence in decorative and industrial paints.
The company operates in more than 15 countries and serves customers across Asia, the Middle East,
Africa, and South Pacific regions.
Asian Paints is known for its innovation, advanced technology, and wide range of products including
wall paints, coatings, home décor, and waterproofing solutions.
With a customer-centric approach and strong distribution network, Asian Paints has become a
trusted household brand in India.
2. OBJECTIVE
To calculate β of Asian Paints LTD and observe its significance.
3. DATA COLLECTION
• Historical data of Asian Paints LTD and NIFTY50 index data (downloaded from NSE website
for the period 01-Dec-24 to 30-Nov-2025).
• The data was manipulated to get Friday closing prices.
4. LITERATURE REVIEW
Parikh (2023) conducted a study on the Corporate Social Responsibility (CSR) practices of Asian
Paints Ltd for the period 2017–18 to 2021–22 using descriptive analysis. The study found that the
company did not fully utilize its CSR funds in some years, while in others it achieved full utilization.
5. DATA ANALYSIS
• a) Regression Statistics
• Multiple R = 0.506
• This shows a moderate positive correlation between the independent and dependent variables.
• R Square = 0.256
• About 25.6% of the variation in the dependent variable is explained by the independent variable.
• Adjusted R Square = 0.239
• After adjusting for degrees of freedom, the model still explains 23.9% variation, indicating a
reasonably good fit.
• Standard Error = 2.54
• This represents the average error in prediction.
• Observations = 48
• F value = 15.8356
• Significance F = 0.000243
• Since the significance value is less than 0.05, the regression model is statistically significant,
meaning the independent variable has a meaningful impact on the dependent variable.
• Regression Equation:
• Y = -0.223 + 0.785X
• Intercept (-0.223)
• The intercept is not statistically significant (p > 0.05), meaning it has no major interpretational
importance.
• X Variable (0.785)
• P-value = 0.000243 (< 0.05)
• This indicates a statistically significant positive relationship.
• For every 1 unit increase in X, Y increases by 0.785 units..
6. CONCLUSION
The regression analysis reveals a moderate and statistically significant relationship between the
independent and dependent variables. Although the model explains only 25.6% of the variation, the
independent variable has a strong influence on the dependent variable. The results confirm that the
regression model is valid and useful for prediction and analysis..
7. REFERENCES
Parikh, M. S. (2023). A study on CSR reporting practices of Asian Paints Limited. Journal of
Management and Applied Research.
