Indigo Paints Ltd.

•

indigopaints.comBSE: 543258NSE: INDIGOPNTS

Market Cap₹ 5,152 Cr.

Current Price

High / Low₹ 1,346 / 708

Stock P/E31.9

Book Value₹ 253

Price to Book2.91

Dividend Yield0.46 %

ROCE17.7 %

ROE13.2 %

Face Value₹ 10

Add ratio to table

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 20.4%
Latest quarter profit grew 60.7% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.30x)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Expensive relative to growth - PEG of 9.7
Growth is decelerating - 3Y profit CAGR (3.3%) trails the 5Y trend (15.5%)

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

Peer comparison

Consumer DurablesChemicalsPaints

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	ASIANPAINT	2480.00	49.92	237881.05	1.11	1559.45	39.60	10541.94	18.12	28.22	20.93
2.	BERGEPAINT	463.75	44.45	54073.38	0.86	405.01	28.56	3583.75	11.97	23.14	17.28
3.	KANSAINER	190.80	25.71	15431.50	1.31	228.41	5.95	2373.59	9.79	12.44	13.83
4.	JSWDULUX	3182.40	7.38	14492.75	6.47	79.70	-12.42	965.00	-3.02	125.82	11.93
5.	INDIGOPNTS	1079.25	32.02	5151.54	0.46	41.70	60.04	369.67	19.69	18.37	16.78
6.	SIRCA	431.40	36.56	2450.04	0.46	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
	277	270	341	366	294	289	327	367	295	298	339	398	350
	229	229	280	284	248	246	270	281	251	253	273	306	303
Operating Profit	48	42	61	82	46	43	57	86	44	46	66	92	47
OPM %	17.23%	15.45%	17.85%	22.47%	15.58%	14.76%	17.50%	23.39%	14.79%	15.35%	19.36%	23.04%	13.45%
	4	3	3	4	4	5	3	6	6	3	-2	0	10
Interest	0	0	0	0	1	1	0	1	1	1	0	1	1
Depreciation	9	10	13	14	14	14	14	12	14	14	14	14	14
Profit before Tax	42	34	50	72	35	33	46	78	35	34	49	77	57
Tax %	25.55%	23.79%	24.83%	25.54%	25.30%	26.80%	20.55%	27.02%	25.07%	25.19%	26.25%	25.46%	25.58%
Net Profit	31	26	38	54	26	24	36	57	26	26	36	57	42
	6.58	5.49	7.92	11.24	5.56	5.06	7.66	11.94	5.53	5.36	7.59	12.03	8.89

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
	289	411	536	625	723	906	1,073	1,255	1,277	1,330	1,385
	291	387	482	534	601	770	892	1,022	1,046	1,083	1,135
Operating Profit	-2	24	54	91	123	136	182	233	232	247	250
OPM %	-0.67%	5.82%	10.10%	14.56%	16.94%	15.01%	16.91%	18.54%	18.13%	18.55%	18.06%
	1	-1	1	2	4	11	10	13	17	6	11
Interest	3	4	5	6	4	1	1	2	3	2	2
Depreciation	14	17	17	20	24	31	34	46	54	55	56
Profit before Tax	-18	2	34	67	98	114	156	198	192	195	217
Tax %	9.74%	-13.63%	20.29%	29.09%	27.64%	26.46%	15.36%	25.06%	25.12%	25.55%	25.63%
Net Profit	-16	3	27	48	71	84	132	149	144	145	161
EPS	-5.55	0.57	5.90	10.49	15.54	17.63	27.67	31.22	30.22	30.50	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	16.98%	12.62%	11.21%	11.58%	16.40%	—

COMPOUNDED SALES GROWTH

10 Years:: 27%
5 Years:: 13%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 15%
3 Years:: 3%

STOCK PRICE CAGR

10 Years:: —
5 Years:: -16%
3 Years:: -11%
1 Year:: -5%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 16%
3 Years:: 15%
Last Year:: 13%

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
	29	29	29	29	48	48	48	48	48	48
	69	71	98	148	515	600	719	855	983	1,119
	34	33	69	57	10	13	12	16	22	21
Trade Payables	85	107	136	139	186	201	199	220	165	199
	30	39	41	49	53	59	84	83	172	240
Total Liabilities	246	279	373	422	811	920	1,062	1,222	1,390	1,627
	91	95	149	201	249	253	265	548	525	549
Capital Work in Progress	2	2	4	1	3	51	251	15	135	220
	15	15	20	21	50	173	132	188	247	320
	48	51	69	77	95	118	118	166	149	173
	0	0	0	0	0	0	0	204	220	257
Cash & Bank	8	5	14	6	258	100	49	33	37	29
	82	112	117	117	156	225	248	68	77	79
Total Assets	246	279	373	422	811	920	1,062	1,222	1,390	1,627

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
	-26	27	56	85	138	91	141	152	205	211
Cash from Investing	15	-23	-63	-61	-318	-69	-84	-143	-175	-194
Cash from Financing	15	-7	19	-17	236	-5	-20	-24	-25	-26
	5	-3	7	-6	39	-9	12	-15	4	-9

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
	53.94	53.92	53.92	53.92	53.92	53.88	53.88	53.88	53.88
	8.28	12.31	12.50	12.41	11.71	11.81	11.21	7.42	5.73
	1.07	16.13	17.06	16.74	19.29	19.68	21.13	23.00	25.25
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	36.72	17.64	16.52	16.92	15.08	14.64	13.78	15.71	15.15

Documents

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

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - Indigo Paints Limited has informed the Exchange about Transcript

2026-08-22

Copy of Newspaper Publication

2026-08-22 - Indigo Paints Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-21

Shareholders meeting

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

Copy of Newspaper Publication

2026-08-15 - Indigo Paints Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Indigo Paints Limited has informed the Exchange about Link of Recording

2026-08-13

Investor Presentation

2026-08-13 - Indigo Paints Limited has informed the Exchange about Investor Presentation

2026-08-13

General Updates

2026-08-13 - Indigo Paints Limited has informed the Exchange about Acquisition

2026-08-13

Shareholders meeting

2026-08-13 - Indigo Paints Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 12, 2026

2026-08-13

Record Date

2026-08-13 - Indigo Paints Limited has informed the Exchange that Record date for the purpose of Dividend is 04-Sep-2026.

News

Recent coverage and analyst commentary for INDIGOPNTS

Loading news…

🤖

AI Stock Analyst

Indigo Paints Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

ASIANPAINT

2480.00

49.92

237881.05

1.11

1559.45

39.60

10541.94

18.12

28.22

20.93

BERGEPAINT

463.75

44.45

54073.38

0.86

405.01

28.56

3583.75

11.97

23.14

17.28

KANSAINER

190.80

25.71

15431.50

1.31

228.41

5.95

2373.59

9.79

12.44

13.83

JSWDULUX

3182.40

7.38

14492.75

6.47

79.70

-12.42

965.00

-3.02

125.82

11.93

INDIGOPNTS

1079.25

32.02

5151.54

0.46

41.70

60.04

369.67

19.69

18.37

16.78

SIRCA

431.40

36.56

2450.04

0.46

16.21

14.09

130.00

13.80

20.28

18.62

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

277

270

341

366

294

289

327

367

295

298

339

398

350

229

280

284

248

246

270

281

251

253

273

306

303

Operating Profit

OPM %

17.23%

15.45%

17.85%

22.47%

15.58%

14.76%

17.50%

23.39%

14.79%

15.35%

19.36%

23.04%

13.45%

-2

Interest

Depreciation

Profit before Tax

Tax %

25.55%

23.79%

24.83%

25.54%

25.30%

26.80%

20.55%

27.02%

25.07%

25.19%

26.25%

25.46%

25.58%

Net Profit

6.58

5.49

7.92

11.24

5.56

5.06

7.66

11.94

5.53

5.36

7.59

12.03

8.89

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

289

411

536

625

723

906

1,073

1,255

1,277

1,330

1,385

291

387

482

534

601

770

892

1,022

1,046

1,083

1,135

Operating Profit

-2

123

136

182

233

232

247

250

OPM %

-0.67%

5.82%

10.10%

14.56%

16.94%

15.01%

16.91%

18.54%

18.13%

18.55%

18.06%

-1

Interest

Depreciation

Profit before Tax

-18

114

156

198

192

195

217

Tax %

9.74%

-13.63%

20.29%

29.09%

27.64%

26.46%

15.36%

25.06%

25.12%

25.55%

25.63%

Net Profit

-16

132

149

144

145

161

EPS

-5.55

0.57

5.90

10.49

15.54

17.63

27.67

31.22

30.22

30.50

—

Dividend Payout %

0.00%

16.98%

12.62%

11.21%

11.58%

16.40%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

148

515

600

719

855

983

1,119

Trade Payables

107

136

139

186

201

199

220

165

199

172

240

Total Liabilities

246

279

373

422

811

920

1,062

1,222

1,390

1,627

149

201

249

253

265

548

525

549

Capital Work in Progress

251

135

220

173

132

188

247

320

118

166

149

173

204

220

257

Cash & Bank

258

100

112

117

156

225

248

Total Assets

246

279

373

422

811

920

1,062

1,222

1,390

1,627

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-26

138

141

152

205

211

Cash from Investing

-23

-63

-61

-318

-69

-84

-143

-175

-194

Cash from Financing

-7

-17

236

-5

-20

-24

-25

-26

-3

-6

-9

-15

-9

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

53.94

53.92

53.88

8.28

12.31

12.50

12.41

11.71

11.81

11.21

7.42

5.73

1.07

16.13

17.06

16.74

19.29

19.68

21.13

23.00

25.25

Government

0.00

36.72

17.64

16.52

16.92

15.08

14.64

13.78

15.71

15.15

Indigo Paints Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Indigo Paints Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI