Indigo Paints

Why is Indigo Paints Ltd falling/rising?

As of 10-Jun, Indigo Paints Ltd's stock price is Rs 976.10, reflecting a slight increase of 0.1%. While there are short-term gains and positive quarterly results, the stock has underperformed over the longer term, with a year-to-date decline of 14.53%.

As of 10-Jun, Indigo Paints Ltd is experiencing a slight rise in its stock price, currently at Rs 976.10, reflecting an increase of 1.0 (0.1%). This upward movement follows a trend where the stock has gained 5.08% over the last two days, indicating a positive short-term momentum. However, despite this recent gain, the stock has underperformed its sector by 0.68% today.<BR><BR>In terms of longer-term performance, the stock has shown mixed results. Over the past week, it has increased by 1.03%, contrasting with a decline of 0.49% in the Sensex. However, on a year-to-date basis, Indigo Paints has dropped by 14.53%, which is steeper than the Sensex's decline of 13.19%. This suggests that while there may be short-term gains, the overall trend for the year remains negative.<BR><BR>The company's recent financial results have been positive, with net sales growing by 24.4% in the last quarter, and it is noteworthy that the company is net-debt free. Additionally, high institutional holdings at 30.41% may provide some stability and confidence in the stock. However, the stock's performance over the last three and five years has been significantly poor, with declines of 31.08% and 62.45%, respectively.<BR><BR>Overall, the recent rise in Indigo Paints Ltd's stock price can be attributed to short-term gains and positive quarterly results, but the longer-term outlook remains challenged by substantial past declines and underperformance relative to the market.

Which are the latest news on Indigo Paints?

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.

Should I buy, sell or hold Indigo Paints Ltd?

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.

How big is Indigo Paints?

As of 24th July, Indigo Paints Ltd has a market capitalization of 5,720.00 Cr, with recent net sales of 1,340.67 Cr and a net profit of 141.77 Cr. The company reported shareholder's funds of 902.14 Cr and total assets of 1,270.43 Cr for the annual period ending March 2024.

As of 24th July, Indigo Paints Ltd has a market capitalization of 5,720.00 Cr, categorizing it as a Mid Cap company.<BR><BR>In the latest four quarters, Indigo Paints reported Net Sales of 1,340.67 Cr and a Net Profit of 141.77 Cr.<BR><BR>For the latest annual period ending March 2024, the company had Shareholder's Funds of 902.14 Cr and Total Assets amounting to 1,270.43 Cr.

What does Indigo Paints do?

Indigo Paints Ltd manufactures and sells decorative paints and operates in the mid-cap segment of the paints industry. As of March 2025, it reported net sales of ₹3,876 Cr and a net profit of ₹569 Cr, with a market cap of ₹5,726 Cr.

Overview:<BR>Indigo Paints Ltd is engaged in the manufacture and sale of decorative paints and operates within the mid-cap segment of the paints industry.<BR><BR>History:<BR>Indigo Paints Limited was originally incorporated as a Private Limited Company in Pune, Maharashtra, on March 28, 2000. It was later converted into a Public Limited Company, with the name changed to Indigo Paints Limited on August 20, 2020. The latest quarterly results report net sales and net profit for the period ending March 2025.<BR><BR>Financial Snapshot:<BR>- Net Sales: 3,876 Cr (Quarterly Results - Mar 2025)<BR>- Net Profit: 569 Cr (Quarterly Results - Mar 2025)<BR>- Market Cap: INR 5,726 Cr (Mid Cap)<BR><BR>Key Metrics:<BR>- P/E: 40.00<BR>- Industry P/E: 53<BR>- Dividend Yield: 0.29%<BR>- Debt-Equity: -0.23<BR>- Return on Equity: 13.76%<BR>- Price to Book: 5.58<BR><BR>Contact Details:<BR>No Company Details Available. Registrar Address: Not available.

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.

Who are in the management team of Indigo Paints?

As of March 2023, the management team of Indigo Paints includes Hemant Jalan (Chairman & Managing Director), Anita Jalan (Executive Director), and several independent directors, overseeing the company's operations and strategic direction.

As of March 2023, the management team of Indigo Paints includes the following individuals:<BR><BR>1. Hemant Jalan - Chairman & Managing Director<BR>2. Anita Jalan - Executive Director<BR>3. Praveen Tripathi - Independent Director<BR>4. Sunil Badriprasad Goyal - Independent Director<BR>5. Narayanan Kutty Kottiedath Venugopal - Executive Director<BR>6. Sakshi Chopra - Nominee<BR>7. Ravi Nigam - Independent Director<BR>8. Dayeeta Shrinivas Gokhale - Company Secretary & Compliance Officer<BR>9. Ashwini Deshpande - Independent Director<BR><BR>This team is responsible for overseeing the operations and strategic direction of the company.

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.

Who are the peers of the Indigo Paints?

Indigo Paints' peers include Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, Sirca Paints, Shalimar Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan. In terms of management risk and growth, Asian Paints and Akzo Nobel show excellent performance, while Indigo Paints has good management risk and average growth; Akzo Nobel leads in 1-year returns at 29.49%, while Indigo Paints has a return of -21.75%.

Peers: The peers of Indigo Paints are Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel, Sirca Paints, Shalimar Paints, Kamdhenu Venture, Retina Paints, and MCON Rasayan.<BR><BR>Quality Snapshot: Excellent management risk is observed at Asian Paints, Berger Paints, and Akzo Nobel, while Good management risk is found at Kansai Nerolac and Indigo Paints. Average management risk is noted at Sirca Paints and MCON Rasayan, and Below Average management risk is present at Shalimar Paints and Kamdhenu Venture. Excellent growth is seen at Sirca Paints and MCON Rasayan, while Average growth is found at Asian Paints, Berger Paints, and Indigo Paints. Below Average growth is noted at Kansai Nerolac, Akzo Nobel, Shalimar Paints, and Kamdhenu Venture, and the rest have growth ratings that do not qualify.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Akzo Nobel at 29.49%, while the peer with the lowest is Kamdhenu Venture at -66.20%. Indigo Paints has a 1-year return of -21.75%, which is better than Kamdhenu Venture but worse than Akzo Nobel. Additionally, Shalimar Paints and Kamdhenu Venture have negative six-month returns.