Berger Paints India Ltd.

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bergerpaints.comBSE: 509480NSE: BERGEPAINT

Market Cap₹ 53,444 Cr.

Current Price

High / Low₹ 595 / 391

Stock P/E45.7

Book Value₹ 58

Price to Book7.55

Dividend Yield0.87 %

ROCE24.7 %

ROE18.2 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 26.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 20.1%
Latest quarter profit grew 25.5% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)
Company has been maintaining a healthy dividend payout of 42.6%

CONS

Stock is trading at 7.5x its book value
Company has delivered a poor profit growth of 10.0% over past five years
Expensive relative to growth - PEG of 4.7
Rich enterprise valuation - EV/EBITDA of 25.3x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesChemicalsPaints

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY TOTAL MKT NIFTY 500

S.No.	Name
1.	ASIANPAINT	2470.00	49.72	236921.85	1.11	1559.45	39.60	10541.94	18.12	28.22	20.93
2.	BERGEPAINT	458.35	43.93	53443.74	0.87	405.01	28.56	3583.75	11.97	23.14	17.28
3.	KANSAINER	188.95	25.46	15281.88	1.32	228.41	5.95	2373.59	9.79	12.44	13.83
4.	JSWDULUX	3155.90	7.32	14372.07	6.53	79.70	-12.42	965.00	-3.02	125.82	11.93
5.	INDIGOPNTS	1089.85	32.33	5202.14	0.46	41.70	60.04	369.67	19.69	18.37	16.78
6.	SIRCA	426.60	36.15	2422.78	0.47	16.21	14.09	130.00	13.80	20.28	18.62

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,740	2,440	2,574	2,249	2,806	2,431	2,585	2,347	2,863	2,458	2,595	2,504	3,227
	2,226	2,037	2,145	1,924	2,323	2,047	2,167	1,958	2,363	2,147	2,178	2,045	2,766
Operating Profit	514	403	430	325	484	383	417	390	499	311	417	459	461
OPM %	18.75%	16.52%	16.69%	14.46%	17.24%	15.77%	16.15%	16.59%	17.45%	12.66%	16.08%	18.32%	14.29%
	12	16	16	13	17	17	69	19	-9	23	56	73	39
Interest	17	17	16	15	12	13	12	11	11	14	11	9	10
Depreciation	70	75	74	78	78	80	80	80	83	86	88	88	91
Profit before Tax	439	327	355	246	411	308	395	318	396	235	373	434	500
Tax %	25.67%	25.43%	25.93%	26.19%	25.60%	25.58%	22.42%	25.47%	25.78%	24.98%	20.09%	24.61%	26.31%
Net Profit	326	244	263	182	306	229	306	237	294	176	298	327	369
	2.80	2.09	2.26	1.56	2.62	1.96	2.63	2.03	2.52	1.51	2.56	2.81	3.16

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,225	4,724	5,516	5,692	6,021	7,741	9,471	10,003	10,169	10,420	10,784
	3,565	3,982	4,655	4,734	4,924	6,558	8,125	8,331	8,495	8,734	9,136
Operating Profit	660	741	861	958	1,097	1,183	1,346	1,672	1,674	1,687	1,648
OPM %	15.63%	15.70%	15.60%	16.83%	18.22%	15.28%	14.21%	16.71%	16.46%	16.19%	15.28%
	107	47	25	151	41	63	77	57	122	143	191
Interest	8	16	35	33	33	43	86	65	48	46	44
Depreciation	96	110	163	171	186	198	234	297	318	346	354
Profit before Tax	663	662	687	905	919	1,005	1,103	1,367	1,431	1,438	1,543
Tax %	33.05%	34.75%	36.59%	22.79%	25.89%	25.40%	24.88%	25.77%	24.69%	23.82%	24.12%
Net Profit	444	432	436	699	681	750	828	1,015	1,078	1,096	1,171
EPS	4.57	4.45	4.49	7.20	7.01	7.72	7.11	8.71	9.24	9.40	—
Dividend Payout %	38.26%	40.47%	42.33%	30.56%	39.95%	40.15%	37.52%	40.20%	41.12%	42.57%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: 12%
3 Years:: 3%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 10%
3 Years:: 10%

STOCK PRICE CAGR

10 Years:: 8%
5 Years:: -8%
3 Years:: -9%
1 Year:: -17%

RETURN ON EQUITY

10 Years:: 22%
5 Years:: 20%
3 Years:: 20%
Last Year:: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	97	97	97	97	97	97	97	117	117	117
	1,815	2,044	2,255	2,526	3,180	3,660	4,193	4,884	5,559	6,220
	123	149	415	429	394	835	1,054	563	466	417
Trade Payables	750	933	968	1,013	1,409	1,705	1,674	1,567	1,569	1,522
	907	1,236	1,503	1,708	1,959	2,255	2,580	2,986	3,345	3,872
Total Liabilities	3,692	4,459	5,238	5,773	7,039	8,553	9,599	10,116	11,056	12,148
	889	915	1,206	1,386	1,502	1,645	2,741	2,882	2,973	3,030
Capital Work in Progress	56	87	148	168	98	569	78	129	77	260
	578	531	577	648	788	744	772	797	1,049	1,682
	894	939	1,149	1,167	1,499	2,150	2,146	2,019	2,207	2,226
	0	0	0	0	0	0	0	979	1,124	1,129
Cash & Bank	36	121	132	126	339	207	174	334	366	207
	1,239	1,866	2,027	2,278	2,815	3,238	3,688	2,976	3,260	3,615
Total Assets	3,692	4,459	5,238	5,773	7,039	8,553	9,599	10,116	11,056	12,148

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	555	659	771	1,034	911	800	1,214	1,483	1,119	1,406
Cash from Investing	-265	-169	-345	-234	-459	-549	-659	-296	-543	-811
Cash from Financing	-73	-195	-237	-530	-183	-5	-284	-1,092	-585	-585
	4	35	-34	28	35	-25	-9	94	-10	11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.99	74.99	74.99	74.98	74.98	74.98	74.98	74.98	74.98
	7.51	6.98	5.94	5.74	5.59	5.35	5.25	4.68	4.82
	7.57	8.77	9.59	10.10	10.44	10.70	11.07	11.70	11.76
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	9.93	9.26	9.48	9.17	8.98	8.97	8.70	8.65	8.42

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Commencement of commercial production/operations

2026-09-08 - Berger Paints (I) Limited has informed the Exchange about Commencement of commercial production/operations

2026-09-04

Copy of Newspaper Publication

2026-09-04 - Berger Paints (I) Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03

Shareholders meeting

2026-09-03 - Berger Paints (I) Limited has informed the Exchange regarding Notice of Postal Ballot

2026-08-31

Change in Director(s)

2026-08-31 - Berger Paints (I) Limited has informed the Exchange regarding Change in Director(s) of the company.

2026-08-31

Outcome of Board Meeting

2026-08-31 - Berger Paints (I) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.

2026-08-24

General Updates

2026-08-24 - Berger Paints (I) Limited has informed the Exchange about General Updates

2026-08-12

Shareholders meeting

2026-08-12 - Proceedings of 102nd AGM

2026-08-12

Appointment

2026-08-12 - Berger Paints (I) Limited has informed the Exchange regarding Appointment of Mr Abhijit Roy as Managing Director & CEO of the company w.e.f. July 01, 2027.

2026-08-12

Shareholders meeting

2026-08-12 - Scrutinizer's Report

News

Recent coverage and analyst commentary for BERGEPAINT

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