Asian Paints reported a Q2FY25 revenue of INR 80,275 million, down 5.3% YoY and 10.5% QoQ, missing estimates. EBITDA fell 26.8% YoY to INR 12,395 million, while Adj. PAT declined 27.4% YoY to INR 8,748 million, reflecting poor operating performance. KR Choksey has lowered FY25E/FY26E EPS estimates and maintains a target price of INR 2,566, advising a "HOLD" on the stock.