Indigo Paints Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Durables
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.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 20.7%
- Latest quarter profit grew 60.0% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.32x)
- Company comfortably covers its interest (69.0x coverage)
- Company generates healthy free cash flow
CONS
- Expensive relative to growth - PEG of 8.5
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINT | 2470.00 | 49.72 | 236921.85 | 1.11 | 1559.45 | 39.60 | 10541.94 | 18.12 | 28.22 | 20.93 |
| BERGEPAINT | 458.35 | 43.93 | 53443.74 | 0.87 | 405.01 | 28.56 | 3583.75 | 11.97 | 23.14 | 17.28 |
| KANSAINER | 188.95 | 25.46 | 15281.88 | 1.32 | 228.41 | 5.95 | 2373.59 | 9.79 | 12.44 | 13.83 |
| JSWDULUX | 3155.90 | 7.32 | 14372.07 | 6.53 | 79.70 | -12.42 | 965.00 | -3.02 | 125.82 | 11.93 |
| INDIGOPNTS | 1089.85 | 32.33 | 5202.14 | 0.46 | 41.70 | 60.04 | 369.67 | 19.69 | 18.37 | 16.78 |
| SIRCA | 426.60 | 36.15 | 2422.78 | 0.47 | 16.21 | 14.09 | 130.00 | 13.80 | 20.28 | 18.62 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 288 | 279 | 354 | 385 | 311 | 300 | 343 | 388 | 309 | 312 | 359 | 425 | 370 | |
| 239 | 237 | 292 | 300 | 264 | 258 | 285 | 300 | 265 | 266 | 290 | 330 | 324 | |
| Operating Profit | 49 | 42 | 62 | 85 | 47 | 42 | 57 | 87 | 44 | 47 | 68 | 96 | 46 |
| OPM % | 17.02% | 15.10% | 17.59% | 21.98% | 15.23% | 13.86% | 16.69% | 22.56% | 14.34% | 14.91% | 19.05% | 22.47% | 12.40% |
| 4 | 3 | 3 | 4 | 4 | 5 | 3 | 6 | 6 | 3 | -2 | 0 | 10 | |
| Interest | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 10 | 11 | 15 | 16 | 15 | 15 | 15 | 13 | 15 | 15 | 15 | 15 | 16 |
| Profit before Tax | 42 | 33 | 50 | 73 | 36 | 31 | 45 | 79 | 35 | 34 | 50 | 80 | 56 |
| Tax % | 25.58% | 24.33% | 25.00% | 25.13% | 25.30% | 27.17% | 20.42% | 27.02% | 25.04% | 25.23% | 26.22% | 25.68% | 25.57% |
| Net Profit | 0 | 0 | 0 | 0 | 27 | 22 | 36 | 57 | 26 | 25 | 37 | 59 | 42 |
| 6.52 | 5.33 | 7.82 | 11.28 | 5.50 | 4.76 | 7.56 | 11.94 | 5.44 | 5.27 | 7.63 | 12.10 | 8.76 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 135 | 1,073 | 1,306 | 1,341 | 1,405 | 1,466 | |
| 141 | 892 | 1,068 | 1,107 | 1,150 | 1,210 | |
| Operating Profit | -5 | 182 | 238 | 233 | 255 | 256 |
| OPM % | -3.81% | 16.91% | 18.23% | 17.42% | 18.13% | 17.49% |
| 1 | 10 | 14 | 18 | 7 | 11 | |
| Interest | 1 | 1 | 2 | 4 | 3 | 3 |
| Depreciation | 1 | 34 | 52 | 59 | 60 | 61 |
| Profit before Tax | -6 | 156 | 199 | 190 | 198 | 220 |
| Tax % | -2.20% | 15.36% | 25.05% | 25.16% | 25.62% | 25.71% |
| Net Profit | -6 | 132 | 149 | 142 | 148 | 163 |
| EPS | -132.12 | 27.67 | 30.94 | 29.76 | 30.43 | — |
| Dividend Payout % | 0.00% | 12.62% | 11.31% | 11.76% | 16.43% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 3%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -16%
- 3 Years:
- -11%
- 1 Year:
- -5%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 14%
- 3 Years:
- 16%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0 | 48 | 48 | 48 | 48 | |
| 129 | 719 | 842 | 966 | 1,091 | |
| 29 | 12 | 60 | 71 | 78 | |
| Trade Payables | 58 | 199 | 229 | 177 | 218 |
| 30 | 84 | 92 | 181 | 252 | |
| Total Liabilities | 246 | 1,062 | 1,270 | 1,442 | 1,687 |
| 102 | 265 | 591 | 568 | 590 | |
| Capital Work in Progress | 0 | 251 | 17 | 136 | 220 |
| 35 | 132 | 167 | 226 | 300 | |
| 29 | 118 | 171 | 154 | 178 | |
| 0 | 0 | 223 | 244 | 286 | |
| Cash & Bank | 11 | 49 | 33 | 37 | 32 |
| 69 | 248 | 69 | 77 | 81 | |
| Total Assets | 246 | 1,062 | 1,270 | 1,442 | 1,687 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 18 | 141 | 151 | 206 | 223 | |
| Cash from Investing | -123 | -84 | -152 | -178 | -196 |
| Cash from Financing | 108 | -20 | -23 | -24 | -32 |
| 2 | 12 | -24 | 4 | -5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-12 - Indigo Paints Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 12, 2026
2026-09-03 - Indigo Paints Limited has informed the Exchange about Transcript
2026-08-22 - Indigo Paints Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-21 - Indigo Paints Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 12, 2026
2026-08-15 - Indigo Paints Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Indigo Paints Limited has informed the Exchange about Link of Recording
2026-08-13 - Indigo Paints Limited has informed the Exchange about Investor Presentation
2026-08-13 - Indigo Paints Limited has informed the Exchange about Acquisition
2026-08-13 - Indigo Paints Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 12, 2026
News
Recent coverage and analyst commentary for INDIGOPNTS
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Indigo Paints Ltd.
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