| Quarterly Financials | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 225 | 246 | 285 | 328 | 292 | 282 | 357 | 389 | 315 | 305 | 346 | 394 | 315 | 315 |
| Expenses | 189 | 209 | 241 | 254 | 239 | 237 | 292 | 300 | 264 | 258 | 285 | 300 | 265 | 266 |
| EBITDA | 36 | 37 | 44 | 75 | 53 | 45 | 65 | 89 | 52 | 47 | 60 | 93 | 50 | 50 |
| Operating Profit % | 16 % | 14 % | 14 % | 22 % | 17 % | 15 % | 18 % | 22 % | 15 % | 14 % | 17 % | 23 % | 14 % | 15 % |
| Depreciation | 8 | 9 | 9 | 9 | 10 | 11 | 15 | 16 | 15 | 15 | 15 | 13 | 15 | 15 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 |
| Profit Before Tax | 27 | 28 | 35 | 65 | 42 | 34 | 50 | 73 | 36 | 31 | 45 | 79 | 35 | 34 |
| Tax | 7 | -9 | 9 | 17 | 11 | 8 | 13 | 18 | 9 | 8 | 9 | 21 | 9 | 9 |
| Net Profit | 20 | 37 | 26 | 49 | 32 | 25 | 38 | 54 | 27 | 22 | 36 | 57 | 26 | 25 |
| EPS in ₹ | 4.19 | 7.79 | 5.52 | 10.23 | 6.52 | 5.33 | 7.82 | 11.28 | 5.50 | 4.76 | 7.56 | 11.94 | 5.44 | 5.27 |
Indigo Paints
Indigo Paints
1,232.50
+29.95
(2.49%)
There are 3 new updates from the company1 day ago
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Key Fundamentals
Market Cap
5,733.20 Cr
EPS
29.76
PE Ratio
40.65
Dividend Yield
0.28 %
Industry
Consumer Goods 52 Week High
1,540.50
52 Week Low
910.00
PB Ratio
5.51
Debt to Equity
0.02
Sector
Paints Analyst Rating and Forecast
- By Refinitiv from9 analysts
Actual
Company News
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Indigo Paints stated that its stock's 20% gain over two days is market-driven with no undisclosed price-sensitive information to share. The stock extended its rally for a third day, closing 4% higher at Rs 1,202.55 with trading volume of Rs 161 crore. The company's market capitalization reached Rs 5,745 crore. September-quarter results showed revenue up 4.2% to Rs 312 crore, net profit increased 11% to Rs 25 crore, and EBITDA rose 12% to Rs 46.5 crore with margins improving to 14.9%. Nuvama Institutional Equities noted this was the company's highest revenue growth in four quarters and best EBITDA growth in six quarters, with brokerages citing improving margins, steady demand recovery and operational gains.
Indigo Paints Limited reported standalone revenue of INR 298.5 crores for Q2 FY26, marking a 3.5% year-on-year growth despite extended monsoon conditions. The company's gross margins expanded to 45.1% from 44.1% in the same quarter last year, while EBITDA margin improved to 15.3% from 14.8%. Profit after tax stood at INR 25.5 crores with an 8.5% PAT margin. The quarter began strongly in July but sales slowed in August before recovering in September. Management highlighted unprecedented levels of dealer money inflows and token scanning by painters, indicating strong secondary sales. The company added 8 more Indigo Color Canvas experiential retail stores during the quarter and continues to expand its dealer network to over 18,900 active dealers with more than 11,650 tinting machines. Subsidiary Apple Chemie delivered strong performance with 22.6% revenue growth to INR 13.6 crores. Management expressed optimism about demand recovery, citing favorable factors including good monsoon leading to bumper harvest, RBI rate cuts, government income tax reductions, and lower GST rates on household items.
Indigo Paints has expanded its distribution network to over 2,000 tier-3 and tier-4 towns. The company plans to achieve 15% annual volume growth supported by a premium product mix and new manufacturing plants in South India. The growth strategy includes focus on automation, enhanced brand visibility, and innovation in waterproofing and industrial coatings segments.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
2,769.80 | #1 2,54,878.00 | 73.08 | #1 34,478.20 | -4.71 | #1 3,710 | 46.78 | 80.61 | |
560.10 | 63,681.20 | 60.37 | 11,639.50 | 3.35 | 1,183 | -23.53 | 62.85 | |
245.53 | 19,715.30 | 17.84 | 7,962.10 | 0.87 | 1,109 | 11.27 | 44.28 | |
3,310.30 | 15,057.00 | 7.58 | 4,118.80 | 3.04 | 430 | #1 1,618.90 | 50.07 | |
1,232.50 | #5 5,733.20 | #5 40.65 | #5 1,359.20 | #7 2.95 | #5 142 | #7 13.45 | 79.05 | |
512.40 | 2,822.70 | 50.34 | 379.20 | 19.21 | 49 | 36.09 | 55.63 | |
7.97 | 250.90 | 44.28 | 266.70 | -8.85 | 7 | -16.67 | 34.42 | |
227.30 | 133.80 | 16.45 | 51.80 | #1 32.48 | 9 | 20.80 | 61.00 | |
68.30 | 103.50 | 142.29 | 21.00 | 21.39 | 1 | 88.89 | 48.13 | |
77.04 | 28.30 | #1 -9.25 | 608.90 | 12.14 | -80 | 28.06 | 47.28 |
Growth Rate
Revenue Growth
2.95 %
Net Income Growth
-4.44 %
Cash Flow Change
36.19 %
ROE
-16.42 %
ROCE
-15.40 %
EBITDA Margin (Avg.)
-2.98 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2023 | 2024 | 2025 |
| Total Assets | 1,062 | 1,270 | 1,410 |
| Fixed Assets | 265 | 591 | 568 |
| Current Assets | 519 | 625 | 685 |
| Capital Work in Progress | 251 | 17 | 136 |
| Investments | 132 | 167 | 226 |
| Other Assets | 414 | 495 | 481 |
| Total Liabilities | 1,062 | 1,270 | 1,410 |
| Current Liabilities | 264 | 286 | 289 |
| Non Current Liabilities | 21 | 82 | 91 |
| Total Equity | 776 | 902 | 1,031 |
| Reserve & Surplus | 729 | 855 | 983 |
| Share Capital | 48 | 48 | 48 |
Cash Flow
| Cash Flow | 2023 | 2024 | 2025 |
| Net Cash Flow | 12 | -14 | 4 |
| Investing Activities | -84 | -142 | -178 |
| Operating Activities | 116 | 151 | 206 |
| Financing Activities | -20 | -23 | -24 |
Share Holding
| % Holding | Jan 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 54.00 % | 54.00 % | 54.00 % | 54.00 % | 54.00 % | 54.00 % | 54.00 % | 54.00 % | 54.00 % | 53.98 % | 53.98 % | 53.95 % | 53.94 % | 53.94 % | 53.94 % | 53.92 % | 53.92 % | 53.92 % | 53.92 % | 53.88 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 7.73 % | 8.28 % | 12.31 % | 12.50 % | 12.41 % | 11.70 % | 11.80 % |
| DIIs | 3.37 % | 2.36 % | 2.04 % | 1.85 % | 1.84 % | 2.80 % | 2.66 % | 2.30 % | 3.34 % | 3.20 % | 2.88 % | 1.68 % | 1.34 % | 1.96 % | 1.06 % | 16.13 % | 17.06 % | 16.74 % | 19.29 % | 19.68 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 8.76 % | 3.07 % | 2.75 % | 2.86 % | 3.35 % | 4.19 % | 4.24 % | 4.76 % | 6.25 % | 7.71 % | 7.83 % | 8.74 % | 9.31 % | 10.00 % | 10.35 % | 12.37 % | 11.80 % | 12.27 % | 13.51 % | 13.10 % |
| Others | 33.87 % | 40.57 % | 41.21 % | 41.29 % | 40.81 % | 39.02 % | 39.10 % | 38.94 % | 36.41 % | 35.12 % | 35.31 % | 35.63 % | 35.41 % | 26.37 % | 26.37 % | 5.26 % | 4.72 % | 4.65 % | 1.58 % | 1.54 % |
| No of Share Holders | 2,75,504 | 86,097 | 77,958 | 76,226 | 79,135 | 86,835 | 86,808 | 94,158 | 1,12,218 | 1,22,785 | 1,21,986 | 1,36,982 | 1,40,003 | 1,43,588 | 1,45,181 | 1,49,623 | 1,56,800 | 1,58,925 | 1,59,977 | 1,53,100 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 3 | 3.5 | 3.5 | 3.5 |
| Dividend Yield (%) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.3 | 0.28 | 0.37 | 0.29 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 26 Aug 2022 |  Dividend | ₹ 3.00 /share | 25 Aug 2022 | 1,565.10 | 1,684.70 |
| 29 Jul 2023 | Dividend | ₹ 3.50 /share | 28 Jul 2023 | 1,459.20 | 1,575.05 |
| 02 Aug 2024 | Dividend | ₹ 3.50 /share | 02 Aug 2024 | 1,424.10 | 1,502.70 |
| 10 Aug 2024 |  Annual General Meeting | NA | 10 Aug 2024 | 1,519.25 | 1,422.45 |
| 07 Nov 2024 |  Quarterly Result Announcement | NA | 07 Nov 2024 | 1,482.05 | 1,638.10 |
| 10 Feb 2025 | Quarterly Result Announcement | NA | 10 Feb 2025 | 1,326.85 | 1,255.20 |
| 24 May 2025 | Quarterly Result Announcement | NA | 24 May 2025 | 1,042.00 | 1,031.80 |
| 07 Aug 2025 | Quarterly Result Announcement | NA | 07 Aug 2025 | 1,141.00 | 1,213.55 |
| 22 Aug 2025 | Dividend | ₹ 3.50 /share | 22 Aug 2025 | 1,031.80 | 1,139.20 |
| 30 Aug 2025 | Annual General Meeting | NA | 30 Aug 2025 | 1,213.55 | 1,099.70 |
| 06 Nov 2025 | Quarterly Result Announcement | NA | 06 Nov 2025 | 1,028.60 | 996.80 |
Announcements
Clarification On Increase In Volume
1 day ago
1 day agoAnnouncement under Regulation 30 (LODR)-Earnings Call Transcript1 day ago
1 day agoClarification sought from Indigo Paints Ltd1 day ago
1 day agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation6 days ago
6 days agoAnnouncement under Regulation 30 (LODR)-Investor Presentation6 days ago
6 days agoOutcome Of Board Meeting Held On November 6 20256 days ago
6 days agoBoard Meeting Outcome for Outcome Of Board Meeting Held On November 6 20256 days ago
6 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation9 days ago
9 days agoBoard Meeting Intimation for Consideration And Approval Of The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended September 30 2025Oct 18, 2025
Oct 18, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 09, 2025
Oct 09, 2025Closure of Trading WindowSep 30, 2025
Sep 30, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSSep 05, 2025
Sep 05, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSSep 05, 2025
Sep 05, 202525Th Annual General Meeting - Voting Results Pursuant To Regulation 44(3) Of SEBI LODRSep 01, 2025
Sep 01, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 01, 2025
Sep 01, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 30, 2025
Aug 30, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 09, 2025
Aug 09, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 08, 2025
Aug 08, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 08, 2025
Aug 08, 2025Reg. 34 (1) Annual Report.Aug 08, 2025
Aug 08, 2025Notice Of Annual General MeetingAug 08, 2025
Aug 08, 2025Outcome Of Board Meeting Held On August 7 2025Aug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 07, 2025
Aug 07, 2025Outcome Of Board Meeting Held On August 7 2025 - Book ClosureAug 07, 2025
Aug 07, 2025Outcome Of Board Meeting Held On August 7 2025 - Record DateAug 07, 2025
Aug 07, 2025Outcome Of Board Meeting Held On August 7 2025 - Annual General MeetingAug 07, 2025
Aug 07, 2025Outcome Of Board Meeting Held On August 7 2025Aug 07, 2025
Aug 07, 2025Outcome Of Board Meeting Held On August 7 2025Aug 07, 2025
Aug 07, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On August 7 2025Aug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 01, 2025
Aug 01, 2025Board Meeting Intimation for Consideration And Approval Of The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30 2025Jul 28, 2025
Jul 28, 2025Announcement under Regulation 30 (LODR)-Change in ManagementJul 24, 2025
Jul 24, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 08, 2025
Jul 08, 2025Closure of Trading WindowJun 27, 2025
Jun 27, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 30, 2025
May 30, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptMay 29, 2025
May 29, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeMay 26, 2025
May 26, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationMay 26, 2025
May 26, 2025Announcement under Regulation 30 (LODR)-Investor PresentationMay 25, 2025
May 25, 2025Outcome Of The Board Meeting Held On May 24 2025May 24, 2025
May 24, 2025Outcome Of Board Meeting Held On 24Th May 2025May 24, 2025
May 24, 2025Outcome Of The Board Meeting Held On May 24 2025May 24, 2025
May 24, 2025Corporate Action-Board approves DividendMay 24, 2025
May 24, 2025Outcome Of The Board Meeting Held On May 24 2025May 24, 2025
May 24, 2025Board Meeting Outcome for Outcome Of The Board Meeting Held On May 24 2025May 24, 2025
May 24, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 20, 2025
May 20, 2025Mutual Fund Holdings
HDFC Small Cap Fund Direct- Growth 
DSP Equity Savings Fund Direct-Growth 
WhiteOak Capital Flexi Cap Fund Direct - Growth 
Motilal Oswal Nifty Microcap 250 Index Fund Direct - Growth 
Groww Nifty Total Market Index Fund Direct - Growth 
Bandhan Nifty Total Market Index Fund Direct-Growth 
Angel One Nifty Total Market Index Fund Direct - Growth 
JM Flexicap Fund Direct Plan-Growth 
Kotak Consumption Fund Direct - Growth 
Mirae Asset Nifty Total Market Index Fund Direct-Growth 
Nippon India Multi Cap Fund Direct-Growth 
Tata Children's Direct Technical Indicators
RSI(14)
Neutral 76.78
ATR(14)
Volatile 42.39
STOCH(9,6)
Neutral 44.54
STOCH RSI(14)
Overbought 92.91
MACD(12,26)
Bullish 20.15
ADX(14)
Strong Trend 38.79
UO(9)
Bearish 65.58
ROC(12)
Uptrend And Accelerating 15.81
WillR(14)
Overbought -16.45
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