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INDIGOPNTS · Indigo Paints Ltd · Chemical Manufacturing

INDIGOPNTS · Indigo Paints Ltd · Chemical Manufacturing

₹900.45+4.7%

As of 05 Nov close

52-week range

52wk low ₹708.0552wk high ₹1,345.9

33.1% below 52-week high

52-week range: as of 05 Nov 2026 close.

Price chartDaily closes on the stock page.

Stock Condition:Pro

Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.

Full signal detail →

Fundamentals as of 15 Sep 2026 · the company's own latest record is 52 days old

Revenue growth acceleratingFII holding falling for 2+ quarters

Revenue (latest Q)

₹370 Cr

Revenue YoY

PAT YoY

+61.1%

Operating margin

Revenue, last 8 quarters

P/E (TTM)

P/B

4.7

P/S (TTM)

3.6

Sector P/E

20.6

Dividend yield

+0.5%

CompanyP/EP/BNet marginROED/EDiv. yield
INDIGOPNTS (this stock)30.14.7+11.0%+13.9%0.02+0.5%
Asian Paints5311.1+12.8%+22.3%0.18+1.1%
Solar Industries India99.626.6+17.6%+31.4%13.68+0.1%
Pidilite Industries61.319.4+17.2%+24.4%0.04+0.7%

Promoter

stable

FII

falling 3q

MF

23.98% (+1.29pp)

rising 3q

Insider trades

No insider trades in the last 12 months.

Bulk/block deals

canonicalSymboldatebuy quantitybuyer countdeal strengthdeal types present
INDIGOPNTS2026-08-145809471STRONGBULK

News timeline

No related news.

Concalls & investor presentations

AI-generated
Concall transcriptPositive03 Sept 2026
View source filing →

Key takeaway: Indigo Paints Limited reported strong Q1 FY27 results, with standalone revenue growing 18.7% year-over-year to INR350 crores, driven by double-digit volume growth across all product categories. Gross margin stood at 45.3%, slightly lower than Q1 FY26 but still above industry averages. EBITDA rose 42% to INR61.9 crores, with a margin expansion to 17.7%, the highest in four years, attributed to operational leverage and cost control. PAT increased 60.7% to INR42.4 crores. Advertising and promotion expenses declined to 4.3% of revenue, with funds redirected to painter engagement and digital channels. The subsidiary Apple Chemie contributed INR19.7 crores in revenue, up 40% YoY, though margin compression was noted due to higher input costs and inventory procurement. The Jodhpur water-based plant is nearing commissioning, and management expects it to enhance Northern, Eastern, and Central India's supply capabilities. Management emphasized pursuing accelerated top-line growth, even at the potential cost of margin compression, and expressed confidence in widening the gap with industry peers. The company also highlighted ESG initiatives, including solar installations and community programs. Management has stated a target of acquiring an additional 11% stake in Apple Chemie, bringing Indigo Paints' holding to 62%.

The document highlights strong revenue and margin growth, operational improvements, and strategic expansions, with management expressing confidence in future performance.

Sourced from an exchange-filed transcript, dated 03 Sept 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationPositive13 Aug 2026
View source filing →

Key takeaway: Indigo Paints Limited reported a revenue from operations of Rs. 350.0 crore for Q1 FY27, reflecting an 18.7% year-over-year growth. The presentation highlighted a gross margin of 45.3% and an EBITDA margin of 17.7%, with EBITDA increasing by 42.0% to Rs. 61.9 crore. The profit after tax (PAT) grew by 60.7% to Rs. 42.4 crore, resulting in a PAT margin of 11.8%. Management noted a strategic timeout from IPL to optimize resources, leading to a decrease in advertising and promotion expenses as a percentage of revenue from 6.8% in Q1 FY26 to 4.3% in Q1 FY27. The company emphasized its focus on product innovation, geographic expansion, and capacity augmentation as part of its growth strategy. Additionally, Indigo Paints is transitioning to renewable energy and has initiated community service projects, including painting government schools. The document also mentioned plans for future growth and brand equity enhancement through strategic investments.

Management emphasized strong financial performance and growth initiatives.

Sourced from an exchange-filed presentation, dated 13 Aug 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive29 May 2026
View source filing →

Key takeaway: Indigo Paints Limited held its earnings conference call on May 25, 2026, to discuss its financial results for Q4 and FY '26. Management reported an 8.4% year-on-year growth in standalone revenue for Q4, reaching INR397.9 crores, driven by a premiumization strategy across product categories. Gross margins improved to 48.6%, despite significant raw material cost increases due to geopolitical tensions. The company recorded a PAT of INR57.3 crores for Q4, with a slight decline in PAT margin attributed to reduced other income. For the full year, standalone revenue grew 4.1% to INR1,330 crores, with a PAT of INR149.8 crores. Management emphasized a focus on market share growth and plans to maintain strong cash flow generation without major capital expenditures until FY '29. The company also highlighted its commitment to sustainability and community initiatives. A dividend of INR5 per share was proposed, reflecting confidence in cash flow sustainability.

Management highlighted growth in revenue and margins despite challenges, indicating a strong business position.

Sourced from an exchange-filed transcript, dated 29 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationMixed23 May 2026
View source filing →

Key takeaway: Indigo Paints Limited's investor presentation for Q4 FY26 and FY26 reported a revenue from operations of Rs. 397.9 Cr for the quarter, reflecting an 8.4% year-over-year growth, while the full year revenue reached Rs. 1,330.1 Cr, a 4.1% increase. The presentation highlighted a gross margin of 48.6% for Q4 FY26, up from 47.4% in Q4 FY25, and an EBITDA margin of 23.0%. The company noted a PAT margin of 14.4% for the quarter, slightly down from 15.3% in the previous year. Management discussed growth drivers including product innovation, geographic expansion, and capacity augmentation. The presentation also outlined sustainability initiatives and community service efforts. A proposed dividend of Rs. 5.0 per share was announced, an increase from Rs. 3.5 in prior years. The document concluded with a plan to maintain growth despite rising raw material costs.

The presentation included both positive growth metrics and challenges related to rising costs.

Sourced from an exchange-filed presentation, dated 23 May 2026. Summary is RedixFi-generated and distinct from investment advice.

Concall transcriptPositive23 Feb 2026
View source filing →

Key takeaway: Indigo Paints Limited reported its Q3 FY '26 earnings during an analyst call on February 16, 2026. Management highlighted a resilient growth despite a temporary setback in October due to weather and festival timing, with double-digit growth in November and December. Stand-alone revenue for the quarter was INR 338.9 crores, a 3.5% year-on-year increase, while EBITDA margin improved to 19.4%. The company recorded a PAT of INR 40.5 crores, excluding a one-time expense. Consolidated revenues reached INR 358.8 crores, up 4.7% year-on-year. Management noted strong performance from its subsidiary, Apple Chemie, which saw a 31.5% revenue increase. The company is focusing on premium products and expanding its dealer network, with over 19,100 active dealers. Management expressed optimism about demand recovery and the potential for continued growth in the upcoming quarters.

Management emphasized resilient growth and optimism about demand recovery.

Sourced from an exchange-filed transcript, dated 23 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

Investor presentationNeutral13 Feb 2026
View source filing →

Key takeaway: Indigo Paints Limited's investor presentation for Q3 FY26 and 9M FY26 reported a revenue from operations of Rs. 338.9 crore, reflecting a 3.5% year-over-year growth, with a gross margin of 47.1%. The EBITDA margin was noted at 19.4%, with an EBITDA of Rs. 65.6 crore, marking a 14.5% year-over-year increase. The presentation highlighted a PAT margin of 11.8%, with a PAT of Rs. 40.5 crore, which is an 11.2% year-over-year growth. For the nine-month period, revenue reached Rs. 932.2 crore, a 2.4% increase, with a PAT margin of 9.8%. Management indicated a focus on enhancing profitability through better cost management and a reduction in advertising and promotional expenses as a percentage of revenue. The document also outlined future growth drivers, including product innovation and geographic expansion, alongside sustainability initiatives.

The presentation provided a balanced overview of financial performance and strategic initiatives.

Sourced from an exchange-filed presentation, dated 13 Feb 2026. Summary is RedixFi-generated and distinct from investment advice.

AI Summary of Annual Report

AI-generated
FY2025-26263 pages

Indigo Paints Limited's FY2025-26 annual report highlights a strategic focus on expanding market share through enhanced execution, geographic expansion, and product premiumisation. The company emphasizes its commitment to innovation, differentiation, and customer-centric approaches, reflected in its brand philosophy and initiatives like the 'Be Surprised' campaign. The report also outlines sustainability efforts, including solar energy installations and community programs, alongside plans for stronger free cash flow generation and increased shareholder value in the coming years.

  • Strategic priority on expanding market share through improved execution and geographic penetration.
  • Commitment to innovation and differentiation with a focus on premium product offerings.
  • Sustainability initiatives including solar energy and community development programs.
  • Plans for stronger free cash flow generation and increased shareholder value in FY2026-27.

Key takeaway: Indigo Paints is prioritizing market expansion and operational efficiency while emphasizing sustainability and shareholder value creation.

The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.

Filed with NSE · 21 Aug 2026View source filing →

Governance disclosures

AI-generated

Needs attention

Regulatory Action (1 item)

Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.

Regulatory Action

1 occurrence

Recent (last 12 months)

Annual Report21 Aug 2026 (FY2025-26)Small penalty (under Rs 1 lakh)
View source filing →

NSE levied a fine of ₹5,000 for delay in submitting Related Party Transaction details, but waived it after the company's explanation.

Routine disclosures

Contingent Liability

3 occurrences

Recent (last 12 months)

Annual Report21 Aug 2026 (FY2025-26)· 5 passages
View source filing →

The company has contingent liabilities related to sales tax, value added tax, income tax, excise and service tax, goods and services tax, and building tax dues comprising demands from India.

Earlier (1-3 years ago)

Annual Report08 Aug 2025 (FY2024-25)· 2 passages
View source filing →

The company has contingent liabilities related to tax dues from Indian tax authorities, with demands for additional tax payments. The company is contesting these demands, and no tax expense has been accrued in the financial statements.

Annual Report18 Jul 2024 (FY2023-24)· 4 passages
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Indigo Paints Limited has provisions for long term sales scheme and leave encashment as of March 31, 2024.

Related-Party Transaction

3 occurrences

Recent (last 12 months)

Annual Report21 Aug 2026 (FY2025-26)· 2 passages
View source filing →

The company has transactions with related parties including Hemant Jalan, Anita Jalan, Kottiedath Venugopal Narayanankutty, Vinay Menon, Chetan Humane, and Sayalee Yengul, as well as Apple Chemie India Private Limited, as disclosed in the financial statements for the year ended March 31, 2026.

Earlier (1-3 years ago)

Annual Report08 Aug 2025 (FY2024-25)
View source filing →

The company discloses related party transactions involving entities controlled by Key Managerial Personnel (KMP), including Halogen Chemicals Private Limited and Payal Jalan Charitable Trust, along with relatives of KMP such as Kamala Prasad Jalan, Anita Jalan, and Vinay Menon.

Annual Report18 Jul 2024 (FY2023-24)· 2 passages
View source filing →

The company has entered into transactions with related parties, including remuneration paid to key managerial personnel and their relatives, CSR expenditure to a charitable trust controlled by a KMP, and various transactions with Apple Chemie India Private Limited.

Statutory dues in dispute

1 occurrence

Earlier (1-3 years ago)

Annual Report18 Jul 2024 (FY2023-24)Disputed tax/statutory dues under appeal, not a loan default
View source filing →

The company has outstanding statutory dues for income tax, excise duty, service tax, and goods and services tax, with disputes pending before various authorities, including the Income Tax Appellate Tribunal and Commissioner of Central Excise (Appeals). The amounts range from 0.43 to 7.10 lakhs, with some payments made under protest.

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