Indigo Paints Limited
NSE: INDIGOPNTS · Paints
Snapshot
Unlock Indigo Paints Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Indigo Paints Limited is an Indian manufacturer of decorative paints, offering a diverse portfolio including emulsions, enamels, primers, and specialised coatings. The company operates primarily within the domestic market, focusing on differentiated products for interior and exterior applications.
Business Model
The company generates revenue through the manufacturing and distribution of decorative paint products sold via a widespread network of dealers and retailers. It differentiates itself by focusing on niche, high-margin product categories within the competitive Indian paint industry.
Growth Outlook
Growth is driven by the expansion of the company's distribution footprint across India and the continuous introduction of innovative, value-added paint products. Increased urbanisation and rising demand for home improvement solutions serve as primary catalysts for long-term revenue expansion.
Key Risks
- Raw Material Price Volatility. Fluctuations in crude oil prices significantly impact the cost of key raw materials, potentially squeezing operating margins.
- Intense Market Competition. The Indian decorative paints sector is highly competitive, with established incumbents and new entrants exerting pressure on pricing and market share.
- Distribution Network Dependency. The company's performance is heavily reliant on the successful expansion and maintenance of its dealer network across diverse geographical regions.
- Economic Sensitivity. Demand for decorative paints is closely linked to the health of the real estate and construction sectors, which are sensitive to broader economic cycles.
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Key Metrics
REVENUE
₹1,513 Cr
TTM · consolidated
NET PROFIT
₹151 Cr
TTM · consolidated
EPS
₹31.29
TTM · consolidated
RETURN ON EQUITY
13.5%
TTM · consolidated
RETURN ON CAPITAL EMPLOYED
16.7%
TTM · consolidated
P/E
27.8×
Q2 FY27 · consolidated
EV/EBITDA
17.4x
Q2 FY27 · consolidated
EBITDA MARGIN
18.1%
TTM · consolidated
NET PROFIT MARGIN
3.7%
Q2 FY27 · consolidated
DEBT TO EQUITY
0.0x
Q2 FY27 · consolidated
Peers · Paints
| Company | Mkt Cap | P/E (TTM) | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Indigo Paints LimitedINDIGOPNTS | ₹4,760 Cr | 27.8× | 17.39 | 11.9% | 18.1% | 13.5% | 16.7% | -13.0% |
Kansai Nerolac Paints LimitedKANSAINER | ₹14,257 Cr | 24.2× | 12.32 | 5.2% | 13.9% | 9.0% | 12.3% | -27.5% |
JSW Dulux LimitedJSWDULUX | ₹12,041 Cr | — | — | — | 14.0% | — | — | — |
JSW Dulux LimitedAKZOINDIA | ₹12,004 Cr | 6.9× | 19.42 | -11.3% | 16.8% | 103.8% | 113.3% | — |
Sirca Paints India LimitedSIRCA | ₹2,303 Cr | 34.1× | 21.57 | 24.1% | 20.8% | 14.1% | 18.4% | -21.5% |
Shalimar PaintsSHALPAINTS | ₹666 Cr | -7.7× | -20.30 | -11.8% | -7.5% | -36.3% | -24.3% | +3.1% |
As of Q2 FY27
Financials
Indigo Paints Limited
NSE: INDIGOPNTS · Paints
Snapshot
Unlock Indigo Paints Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Indigo Paints Limited is an Indian manufacturer of decorative paints, offering a diverse portfolio including emulsions, enamels, primers, and specialised coatings. The company operates primarily within the domestic market, focusing on differentiated products for interior and exterior applications.
Business Model
The company generates revenue through the manufacturing and distribution of decorative paint products sold via a widespread network of dealers and retailers. It differentiates itself by focusing on niche, high-margin product categories within the competitive Indian paint industry.
Growth Outlook
Growth is driven by the expansion of the company's distribution footprint across India and the continuous introduction of innovative, value-added paint products. Increased urbanisation and rising demand for home improvement solutions serve as primary catalysts for long-term revenue expansion.
Key Risks
- Raw Material Price Volatility. Fluctuations in crude oil prices significantly impact the cost of key raw materials, potentially squeezing operating margins.
- Intense Market Competition. The Indian decorative paints sector is highly competitive, with established incumbents and new entrants exerting pressure on pricing and market share.
- Distribution Network Dependency. The company's performance is heavily reliant on the successful expansion and maintenance of its dealer network across diverse geographical regions.
- Economic Sensitivity. Demand for decorative paints is closely linked to the health of the real estate and construction sectors, which are sensitive to broader economic cycles.
Start your research today
Unlock AI insights, financials, peers and live data on Indigo Paints Limited and 5,000+ companies — free.
Key Metrics
REVENUE
₹1,513 Cr
TTM · consolidated
NET PROFIT
₹151 Cr
TTM · consolidated
EPS
₹31.29
TTM · consolidated
RETURN ON EQUITY
13.5%
TTM · consolidated
RETURN ON CAPITAL EMPLOYED
16.7%
TTM · consolidated
P/E
27.8x
Q2 FY27 · consolidated
EV/EBITDA
17.4x
Q2 FY27 · consolidated
EBITDA MARGIN
18.1%
TTM · consolidated
NET PROFIT MARGIN
3.7%
Q2 FY27 · consolidated
DEBT TO EQUITY
0.0x
Q2 FY27 · consolidated
Peers · Paints
As of Q2 FY27