Indigo Paints

Why is Indigo Paints Ltd falling/rising?

As of 07-Aug, Indigo Paints Ltd's stock price is declining at 1,120.20, influenced by historical underperformance and modest growth rates despite recent positive quarterly results. Concerns about long-term growth and a high PEG ratio suggest the stock may be overvalued, leading to cautious market sentiment.

As of 07-Aug, Indigo Paints Ltd is experiencing a slight decline in its stock price, currently at 1,120.20, with a change of -7.4 (-0.66%). This drop can be attributed to several factors highlighted in the provided data. <BR><BR>Despite a positive performance in the short term, with a 1-week increase of 0.69% and a 1-month increase of 2.33%, the stock has shown a significant underperformance over the longer term. Year-to-date, it has declined by 1.91%, and over the past year, it has fallen by 7.34%. This consistent underperformance against the benchmark, particularly over the last three years where it has generated -29.94% returns compared to a +19.02% return for the Sensex, raises concerns among investors.<BR><BR>Additionally, while the company has reported strong quarterly results, including a 71.6% growth in profit before tax and a 55.0% increase in profit after tax, the overall long-term growth has been modest. The net sales growth has averaged only 9.39% annually over the last five years, which may not be sufficient to attract long-term investors. <BR><BR>Moreover, the stock is trading at a fair value compared to its peers, but the high PEG ratio of 6.7 indicates that the stock may be overvalued relative to its earnings growth potential. The recent decline in price, despite positive short-term indicators such as rising investor participation and trading above moving averages, suggests that the market is cautious about the company's long-term growth prospects. <BR><BR>In summary, the combination of recent price decline, historical underperformance, and modest growth rates contributes to the current downward trend in Indigo Paints Ltd's stock price.

Which are the latest news on Indigo Paints?

Should I buy, sell or hold Indigo Paints Ltd?

What does Indigo Paints do?

Indigo Paints Ltd manufactures and sells decorative paints, operating in the small-cap paints industry. As of March 2026, it reported net sales of ₹425 Cr and a net profit of ₹58 Cr, with a market cap of ₹4,632 Cr.

Overview:<BR>Indigo Paints Ltd is engaged in the manufacture and sale of decorative paints and operates within the small-cap paints industry.<BR><BR>History:<BR>Indigo Paints Ltd was originally incorporated as a Private Limited Company in 2000 and later converted to a Public Limited Company in 2020. The latest quarterly results reported net sales and net profit for the period ending March 2026.<BR><BR>Financial Snapshot:<BR>Most recent Net Sales: 425 Cr (Quarterly Results - Mar 2026) <BR>Most recent Net Profit: 58 Cr (Quarterly Results - Mar 2026) <BR>Market-cap value: INR 4,632 Cr (Small Cap)<BR><BR>Key Metrics:<BR>P/E: 31.00 <BR>Industry P/E: 52 <BR>Dividend Yield: 0.36% <BR>Debt-Equity: -0.27 <BR>Return on Equity: 12.96% <BR>Price to Book: 4.02 <BR><BR>Contact Details:<BR>Details: No Company Details Available <BR>Registrar Address: Not available.

How big is Indigo Paints?

As of 10th June, Indigo Paints Ltd has a market capitalization of 4,632.00 Cr, with net sales of 1,405.02 Cr and a net profit of 145.08 Cr over the latest four quarters.

As of 10th June, <BR><BR>Market Cap: Indigo Paints Ltd has a market capitalization of 4,632.00 Cr, categorizing it as a Small Cap company.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 1,405.02 Cr, while the sum of Net Profit for the same period is 145.08 Cr.<BR><BR>Balance Sheet Snapshot: The reporting period for the latest annual data is March 2025. Shareholder's Funds are valued at 1,030.58 Cr, and Total Assets amount to 1,410.18 Cr.

Who are in the management team of Indigo Paints?

The management team of Indigo Paints includes Hemant Jalan (Chairman & Managing Director), Anita Jalan and Narayanan Kutty Kottiedath Venugopal (Executive Directors), along with several Independent Directors and a Company Secretary. They are responsible for guiding the company's operations and strategic direction.

The management team of Indigo Paints includes the following key members:<BR><BR>1. **Hemant Jalan** - Chairman & Managing Director<BR>2. **Anita Jalan** - Executive Director<BR>3. **Narayanan Kutty Kottiedath Venugopal** - Executive Director<BR>4. **Praveen Tripathi** - Independent Director<BR>5. **Sunil Badriprasad Goyal** - Independent Director<BR>6. **Ravi Nigam** - Independent Director<BR>7. **Ashwini Deshpande** - Independent Director<BR>8. **Sakshi Chopra** - Nominee<BR>9. **Dayeeta Shrinivas Gokhale** - Company Secretary & Compliance Officer<BR><BR>This team plays a crucial role in steering the company's operations and strategic direction.

Who are the peers of the Indigo Paints?

Indigo Paints' peers include Asian Paints, Berger Paints, Kansai Nerolac, and others, with varying management risk, growth, and capital structure ratings. Asian Paints leads in 1-year returns at 21.95%, while Indigo Paints has a return of -13.96%.

Peers: The peers of Indigo Paints are Asian Paints, Berger Paints, Kansai Nerolac, JSW Dulux, Sirca Paints, Shalimar Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan.<BR><BR>Quality Snapshot: Excellent management risk is observed at Asian Paints and JSW Dulux, while Good management risk is found at Berger Paints, Kansai Nerolac, and Indigo Paints, and the rest have ratings of Average or Below Average. Growth is Excellent at Sirca Paints, Average at Asian Paints and Kamdhenu Venture, while Below Average growth is noted for Berger Paints, Kansai Nerolac, JSW Dulux, Indigo Paints, Shalimar Paints, Retina Paints, and MCON Rasayan. Excellent capital structure is seen at Asian Paints, Berger Paints, Kansai Nerolac, JSW Dulux, Indigo Paints, and Sirca Paints, while Good capital structure is noted for Kamdhenu Venture, and Below Average capital structure is found at Shalimar Paints, Retina Paints, and MCON Rasayan.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Asian Paints at 21.95%, while Shalimar Paints has the lowest at -48.62%. Indigo Paints has a 1-year return of -13.96%, which is better than Shalimar Paints but worse than Asian Paints. Additionally, the six-month return is negative for Shalimar Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan.

Are Indigo Paints Ltd latest results good or bad?

Indigo Paints Ltd's latest Q4 FY26 results show strong quarterly growth with a net profit increase of 58.52% and revenue growth of 18.55%. However, the full fiscal year performance raises concerns due to modest revenue growth of 2.60% and a decline in profit, indicating challenges in long-term growth despite short-term gains.

Indigo Paints Ltd's latest results for Q4 FY26 show a mixed picture. On the positive side, the company reported a net profit of ₹57.67 crores, which reflects a significant increase of 58.52% quarter-on-quarter and a slight increase of 1.35% year-on-year. Revenue also saw a strong quarter-on-quarter growth of 18.55%, reaching ₹425.32 crores, although the year-on-year growth of 9.74% is below the broader industry growth rate of approximately 12-15%.<BR><BR>The operating margin improved to 22.47%, up from 19.05% in the previous quarter, indicating enhanced operational efficiency and better pricing power during the peak season. However, when looking at the full fiscal year FY25, the overall performance raises some concerns. The company experienced only a modest revenue growth of 2.60% and a decline in profit after tax by 4.05%, highlighting challenges in converting top-line growth into bottom-line success.<BR><BR>Additionally, the return on equity (ROE) of 13.49% is significantly lower than industry leaders, suggesting inefficiencies in capital deployment. Overall, while the quarterly results demonstrate strong seasonal performance, the longer-term trends indicate underlying challenges that may affect the company's growth trajectory. Therefore, the results can be seen as good in the short term but concerning when considering the broader context.

Is Indigo Paints technically bullish or bearish?

As of November 19, 2025, Indigo Paints shows a mildly bullish trend, supported by daily moving averages and weekly Bollinger Bands, despite mixed signals from MACD and a bearish weekly RSI.

As of 19 November 2025, the technical trend for Indigo Paints has changed from mildly bearish to mildly bullish. The current stance is mildly bullish, driven primarily by the daily moving averages indicating bullish momentum and the weekly Bollinger Bands showing a mildly bullish signal. However, the weekly MACD remains bullish while the monthly MACD is mildly bearish, indicating mixed signals across different time frames. The weekly RSI is bearish, suggesting some weakness, but the overall trend is supported by the Dow Theory indicating a mildly bullish stance. The stock has shown a strong return over the past month compared to the Sensex, further reinforcing the bullish outlook.

How has been the historical performance of Indigo Paints?

Indigo Paints has shown steady growth in net sales and operating income from Mar'23 to Mar'25, but faced rising expenditures leading to declines in profitability metrics such as profit before tax and earnings per share. While total assets increased, cash flow from operating activities improved, indicating operational efficiency despite challenges in cost management.

Answer:<BR>The historical performance of Indigo Paints shows a steady growth in net sales and operating income over the past three years, with net sales increasing from 1,073.33 Cr in Mar'23 to 1,340.67 Cr in Mar'25. The total operating income followed a similar trend, rising from 1,073.33 Cr in Mar'23 to 1,340.67 Cr in Mar'25. However, the total expenditure also increased, from 891.80 Cr in Mar'23 to 1,107.18 Cr in Mar'25, leading to a slight decline in operating profit from 252.29 Cr in Mar'24 to 251.99 Cr in Mar'25. Profit before tax decreased from 198.58 Cr in Mar'24 to 189.95 Cr in Mar'25, and profit after tax also saw a decline from 148.83 Cr in Mar'24 to 142.16 Cr in Mar'25. The earnings per share (EPS) decreased from 30.94 in Mar'24 to 29.76 in Mar'25, reflecting the overall decline in profitability. On the balance sheet, total assets grew from 1,061.60 Cr in Mar'23 to 1,410.18 Cr in Mar'25, while total liabilities increased from 1,061.60 Cr to 1,410.18 Cr in the same period. The cash flow from operating activities improved significantly from 116.00 Cr in Mar'23 to 205.00 Cr in Mar'25, although cash flow from investing activities also increased to -177.00 Cr in Mar'25.<BR><BR>Breakdown:<BR>Indigo Paints has demonstrated a consistent upward trajectory in its net sales and total operating income, which rose from 1,073.33 Cr in Mar'23 to 1,340.67 Cr in Mar'25. Despite this growth, the company faced rising total expenditures, which climbed from 891.80 Cr to 1,107.18 Cr, resulting in a slight decrease in operating profit. Profit before tax and profit after tax also experienced declines, indicating challenges in maintaining profitability amidst increasing costs. The earnings per share reflected this trend, decreasing from 30.94 to 29.76. On the balance sheet, total assets and liabilities both increased significantly, highlighting the company's expansion. Cash flow from operating activities improved, showcasing better operational efficiency, while cash flow from investing activities worsened, indicating higher investments. Overall, Indigo Paints has shown growth in revenue and assets, but profitability metrics suggest the need for improved cost management.

Is Indigo Paints overvalued or undervalued?

As of August 8, 2025, Indigo Paints is considered overvalued with a PE ratio of 38.88 and has underperformed the Sensex with a year-to-date return of -17.94%, despite a valuation grade shift from very attractive to attractive.

As of 8 August 2025, the valuation grade for Indigo Paints has moved from very attractive to attractive, indicating a shift in market perception. The company is currently assessed as overvalued based on its high price-to-earnings (PE) ratio of 38.88, a price-to-book value of 5.34, and an EV to EBITDA ratio of 22.85. In comparison, its peers such as Asian Paints and Berger Paints are valued at significantly higher PE ratios of 61.63 and 54.35, respectively, suggesting that Indigo Paints may not justify its current valuation relative to its competitors.<BR><BR>Despite the attractive valuation grade, Indigo Paints has underperformed against the Sensex, with a year-to-date return of -17.94% compared to the Sensex's positive return of 2.20%. This underperformance, coupled with its elevated valuation ratios, supports the conclusion that Indigo Paints is overvalued in the current market environment.

When is the next results date for Indigo Paints?

The next results date for Indigo Paints is 07 August 2025.

The next results date for Indigo Paints is scheduled for 07 August 2025.

Who are the top shareholders of the Indigo Paints?

The top shareholders of Indigo Paints include Hemant Kamala Jalan, the largest promoter with 17.99% ownership, and institutional investors like mutual funds (15.86%) and foreign institutional investors (12.41%). Individual shareholders collectively own 12.27%, with Nippon Life India Trustee Ltd being the highest public shareholder at 8.61%.

The top shareholders of Indigo Paints include a mix of promoters, institutional investors, and individual shareholders. The largest promoter is Hemant Kamala Jalan, who holds 17.99% of the shares. The company has no pledged promoter holdings, indicating strong confidence among its promoters. <BR><BR>In terms of institutional investment, mutual funds hold 15.86% of the shares across 10 schemes, while foreign institutional investors (FIIs) hold 12.41% through 94 different entities. The highest public shareholder is Nippon Life India Trustee Ltd, which manages the Nippon India Small Cap Fund and holds 8.61%. Additionally, individual investors collectively own 12.27% of the company's shares.

Has Indigo Paints declared dividend?

Indigo Paints Ltd has declared a 35% dividend, amounting to ₹3.5 per share, with an ex-date of August 2, 2024. However, the company's stock has experienced significant declines in total returns across various periods, despite the dividend announcement.

Indigo Paints Ltd has declared a 35% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 35%<BR>- Amount per share: 3.5<BR>- Ex-date: 02 Aug 24<BR><BR>Dividend Yield: 0.33%<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -24.69%, with a dividend return of 0%, resulting in a total return of -24.69%.<BR><BR>Over the past year, the price return was -21.07%, the dividend return was 0.26%, leading to a total return of -20.81%.<BR><BR>In the 2-year period, the price return was -26.61%, with a dividend return of 0.49%, resulting in a total return of -26.12%.<BR><BR>For the 3-year period, the price return was -30.13%, the dividend return was 0.71%, culminating in a total return of -29.42%.<BR><BR>In the last 4 years, the price return was -56.73%, with a dividend return of 0.39%, resulting in a total return of -56.34%.<BR><BR>Over the 5-year period, the price return was 0%, the dividend return was 0%, leading to a total return of 0.0%.<BR><BR>Overall, while Indigo Paints has declared a dividend, the total returns over various periods have shown significant declines, indicating challenges in the company's stock performance despite the dividend announcement.