Berger Paints India Ltd.

NSE: BERGEPAINT · Paints

52W Range₹391 ₹595

Snapshot

Unlock Berger Paints India Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Berger Paints India Limited is a leading manufacturer and distributor of a diverse range of decorative and industrial paint products. Its portfolio spans interior and exterior wall coatings, metal and wood finishes, waterproofing solutions, and specialised protective coatings for industrial applications.

Business Model

The company generates revenue through the manufacturing and sale of paint products and construction chemicals to home, professional, and industrial users. It operates through an extensive distribution network to reach retail consumers and institutional clients across India and international markets.

Growth Outlook

Growth is driven by the expansion of the construction chemicals and waterproofing segments alongside continued demand for premium interior and exterior wall coatings. The company focuses on product innovation and the development of specialised industrial and protective coatings to capture market share.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of crude oil derivatives and titanium dioxide can significantly impact the company's operating margins.
  • Intense Market Competition. The Indian paint industry is highly competitive, with pressure from both established domestic players and multinational corporations.
  • Economic Cyclicality. Demand for decorative paints is closely linked to the performance of the real estate and construction sectors, which are sensitive to economic cycles.
  • Supply Chain Disruptions. Dependence on global supply chains for key chemical inputs exposes the company to geopolitical risks and logistics bottlenecks.

Price

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Key Metrics

REVENUE

₹11,880 Cr

TTM · consolidated

+2.9%YoY

NET PROFIT

₹1,128 Cr

TTM · consolidated

-4.6%YoY

EPS

₹9.67

TTM · consolidated

-4.4%YoY

RETURN ON EQUITY

17.8%

TTM · consolidated

-3.4 ppYoY

RETURN ON CAPITAL EMPLOYED

21.5%

TTM · consolidated

-4.3 ppYoY

P/E

51.5x

Q4 FY26 · consolidated

51.5 vs 55.0x5Y avg

EV/EBITDA

30.2x

Q4 FY26 · consolidated

30.2 vs 36.4x5Y avg

EBITDA MARGIN

16.3%

TTM · consolidated

-0.6 ppYoY

NET PROFIT MARGIN

11.7%

Q4 FY26 · consolidated

+2.0 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

-0.02xYoY

Peers · Paints

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Berger Paints India Ltd.BERGEPAINT
48,44751.5330.172.9%16.3%17.8%21.5%-11.8%
Kansai Nerolac Paints LimitedKANSAINER
13,06727.5614.402.9%13.9%8.9%12.1%-18.7%
Akzo Nobel India Ltd.AKZOINDIA
13,0146.8921.9716.8%80.5%89.6%
Indigo Paints LimitedINDIGOPNTS
3,50434.9818.854.8%19.1%13.9%17.5%-11.3%
Sirca Paints India LimitedSIRCA
2,36533.6821.5531.7%20.8%17.1%21.7%-5.8%
Shalimar PaintsSHALPAINTS
353-6.51-36.21-4.1%-2.7%-21.7%-12.2%-48.5%

As of Q4 FY26

Financials