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Indigo Paints Limited
NSE: INDIGOPNTS · Consumer Durables
₹914.35+1.54%06 Nov 2026
Ask the data
Instant answers about Indigo Paints Limited — computed from its filings, no language modelMarket cap₹4,364 cr
Current price₹914.35
High / Low₹1,326 / ₹711
P/E29.0
P/B3.69
Book value₹247.9
ROE12.7%
ROCE17.3%
Debt / equity0.00
Dividend yield0.38%
EPS (TTM)₹31.54
Face value₹10
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Revenue | 1,306 | 1,341 | 1,405 |
| EBITDA | 238 | 233 | 255 |
| Operating margin | 18.2% | 17.4% | 18.1% |
| Interest | 2 | 4 | 3 |
| Depreciation | 52 | 59 | 60 |
| Profit before tax | 199 | 190 | 198 |
| Tax | 50 | 48 | 51 |
| Net profit | 147 | 142 | 148 |
| EPS ₹ | 30.95 | 29.76 | 30.44 |
| Operating cash flow | 151 | 206 | 223 |
| Capex | 104 | 136 | 135 |
| Dividend paid | 17 | 17 | 17 |
| Total assets | 1,270 | 1,410 | 1,629 |
| Equity | 902 | 1,031 | 1,153 |
Quarterly performance
last 14 quarters · ₹ crore| JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 288 | 279 | 354 | 385 | 311 | 300 | 343 | 388 | 309 | 312 | 359 | 425 | 370 | 359 |
| Operating profit | 49 | 42 | 62 | 85 | 47 | 42 | 57 | 87 | 44 | 47 | 68 | 96 | 62 | 31 |
| Operating margin | 17.0% | 15.1% | 17.6% | 22.0% | 15.2% | 13.9% | 16.7% | 22.6% | 14.3% | 14.9% | 19.1% | 22.5% | 16.8% | 8.6% |
| Other income | 4 | 3 | 3 | 4 | 4 | 5 | 3 | 6 | 6 | 3 | 4 | 0 | 10 | 2 |
| Interest | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 10 | 11 | 15 | 16 | 15 | 15 | 15 | 13 | 15 | 15 | 15 | 15 | 16 | 16 |
| Profit before tax | 42 | 33 | 50 | 73 | 36 | 31 | 45 | 79 | 35 | 34 | 50 | 80 | 56 | 17 |
| Tax | 11 | 8 | 13 | 18 | 9 | 8 | 9 | 21 | 9 | 9 | 13 | 20 | 14 | 3 |
| Net profit | 31 | 25 | 37 | 54 | 26 | 23 | 36 | 57 | 26 | 25 | 36 | 59 | 42 | 13 |
| EPS ₹ | 6.52 | 5.33 | 7.82 | 11.28 | 5.50 | 4.76 | 7.56 | 11.94 | 5.44 | 5.27 | 7.63 | 12.10 | 8.76 | 2.80 |
| Revenue YoY | — | — | — | — | 7.8% | 7.4% | -3.2% | 0.7% | -0.7% | 4.2% | 4.7% | 9.7% | 19.7% | 15.0% |
| Profit YoY | — | — | — | — | -15.6% | -10.6% | -3.3% | 6.0% | -1.1% | 10.9% | 1.0% | 4.0% | 60.9% | -47.0% |
Earlier results (standalone, Dec '20 – Mar '23)
₹ crore · from BSE, before the NSE XBRL filings beginIndigo Paints Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.
Full years
| FY22† | FY23† | |
|---|---|---|
| Revenue | 906 | 1,073 |
| Operating profit | 136 | 181 |
| Operating margin | 15.0% | 16.9% |
| Other income | 11 | 10 |
| Interest | 1 | 1 |
| Depreciation | 31 | 34 |
| Profit before tax | 114 | 156 |
| Tax | 30 | 24 |
| Net profit | 84 | 132 |
Quarters
| DEC '20† | MAR '21† | JUN '21† | SEP '21† | DEC '21† | MAR '22† | JUN '22† | SEP '22† | DEC '22† | MAR '23† | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 210 | 254 | 156 | 196 | 265 | 288 | 224 | 243 | 281 | 325 |
| Operating profit | 31 | 43 | 20 | 23 | 39 | 54 | 35 | 34 | 41 | 72 |
| Operating margin | 15.0% | 16.9% | 12.9% | 11.9% | 14.6% | 18.6% | 15.8% | 13.9% | 14.4% | 22.0% |
| Other income | 1 | 2 | 3 | 3 | 2 | 3 | 0 | 3 | 4 | 3 |
| Interest | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 6 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 9 | 9 |
| Profit before tax | 26 | 37 | 16 | 18 | 33 | 47 | 27 | 28 | 35 | 65 |
| Tax | 7 | 12 | 4 | 5 | 9 | 13 | 7 | -9 | 9 | 17 |
| Net profit | 19 | 25 | 12 | 14 | 24 | 35 | 20 | 37 | 26 | 49 |
| EPS ₹ | 4.17 | 5.30 | 2.44 | 2.85 | 5.11 | 7.27 | 4.19 | 7.79 | 5.52 | 10.23 |
| Revenue YoY | — | — | — | — | 26.6% | 13.4% | 43.6% | 23.7% | 6.0% | 12.9% |
| Profit YoY | — | — | — | — | 29.3% | 39.1% | 71.5% | 173.7% | 8.1% | 40.7% |
Returns & margins
trailing-twelve-month, per quarter| MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.3% | 15.8% | 14.9% | 14.8% | 13.8% | 13.7% | 13.5% | 13.5% | 12.7% | 14.1% | 12.7% |
| ROCE | 22.2% | 21.5% | 20.3% | 19.8% | 18.7% | 18.6% | 18.3% | 18.7% | 17.4% | 19.3% | 17.3% |
| Net margin | 11.3% | 10.7% | 10.4% | 10.4% | 10.6% | 10.6% | 10.7% | 10.6% | 10.4% | 11.1% | 10.0% |
| EBITDA margin | 18.2% | 17.8% | 17.5% | 17.2% | 17.4% | 17.2% | 17.4% | 18.0% | 18.1% | 18.6% | 17.0% |
| Debt / equity | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| Interest coverage | 94.67 | 85.55 | 78.79 | 77.35 | 55.27 | 54.24 | 55.15 | 57.11 | 68.97 | 79.20 | 72.10 |
| Asset turnover | 1.03 | 1.05 | 1.05 | 1.04 | 0.95 | 0.95 | 0.92 | 0.93 | 0.86 | 0.90 | 0.92 |
Balance sheet
equity vs borrowings over time · ₹ crore| SEP '23 | MAR '24 | SEP '24 | MAR '25 | SEP '25 | MAR '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|
| Share capital | 48 | 48 | 48 | 48 | 48 | 48 | 48 |
| Other equity / reserves | 770 | 855 | 890 | 983 | 1,019 | 1,106 | 1,135 |
| Total equity | 818 | 902 | 938 | 1,031 | 1,067 | 1,153 | 1,183 |
| Borrowings | 2 | 3 | 6 | 6 | 5 | 2 | 3 |
| Current liabilities | 282 | 286 | 263 | 289 | 311 | 395 | 350 |
| Non-current liabilities | 64 | 82 | 88 | 91 | 92 | 80 | 116 |
| Total assets | 1,164 | 1,270 | 1,289 | 1,410 | 1,470 | 1,629 | 1,649 |
| Property, plant & equipment | 530 | 468 | 521 | 445 | 432 | 473 | 522 |
| Capital work-in-progress | 2 | 17 | 66 | 136 | 221 | 220 | 245 |
| Investments | 160 | 167 | 188 | 226 | 249 | 300 | 311 |
| Inventories | 152 | 171 | 162 | 154 | 163 | 178 | 214 |
| Receivables | 182 | 223 | 204 | 244 | 237 | 286 | 264 |
| Cash & equivalents | 10 | 33 | 19 | 37 | 9 | 32 | 12 |
Cash flow
annual · ₹ crore · line = free cash flow| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Cash from operations | 151 | 206 | 223 |
| Cash from investing | -152 | -178 | -196 |
| Cash from financing | -14 | -24 | -32 |
| Capex | 104 | 136 | 135 |
| Free cash flow | 47 | 69 | 88 |
| Dividends paid | 17 | 17 | 17 |
Where the assets sit
Sep '26 · ₹ croreFixed assets (PPE)₹522 cr32%
CWIP₹245 cr15%
Investments₹311 cr19%
Inventories₹214 cr13%
Receivables₹264 cr16%
Cash & equivalents₹12 cr1%
Other assets₹82 cr5%
Peer comparison
largest in Consumer Durables · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Titan Company Ltd. | 4,43,900 | 5,000.00 | 63.1 | 24.31 | 38.5% |
| Asian Paints Ltd. | 2,44,212 | 2,546.00 | 50.5 | 11.24 | 22.3% |
| LG Electronics India Ltd. | 1,19,063 | 1,754.10 | 61.9 | 13.52 | 21.8% |
| Dixon Technologies (India) Ltd. | 77,202 | 12,625.00 | 49.8 | 13.13 | 26.4% |
| Havells India Ltd. | 70,793 | 1,128.00 | 42.6 | 7.24 | 17.0% |
| Kalyan Jewellers India Ltd. | 61,009 | 590.75 | 42.5 | 9.67 | 22.7% |
| Berger Paints India Ltd. | 55,776 | 478.35 | 45.5 | 7.88 | 17.3% |
| Voltas Ltd. | 36,355 | 1,099.00 | 80.9 | 5.70 | 7.0% |
| Blue Star Ltd. | 32,382 | 1,575.00 | 60.6 | 9.29 | 15.3% |
| Amber Enterprises India Ltd. | 22,582 | 6,403.00 | 235.1 | 5.16 | 2.2% |
| Indigo Paints Limited | 4,364 | 914.35 | 29.0 | 3.69 | 12.7% |
StoxGud checklist: Neutral setup · 4/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-13.8%
6 months-1.1%
1 year-9.8%
3Y CAGR-13.7%
5Y CAGR-17.5%
10Y CAGR—
50-day avg₹1,064.36
200-day avg₹998.63
RSI (14)28
FAQs
What is the share price of Indigo Paints Limited?
Indigo Paints Limited (INDIGOPNTS) closed at ₹914.35 on NSE on 06 Nov 2026.
What is the market cap of Indigo Paints Limited?
₹4,364 crore at the latest close.
What is the P/E ratio of Indigo Paints Limited?
29.0, on trailing-twelve-month earnings from its filings.
How fast is Indigo Paints Limited growing?
Indigo Paints Limited: Latest-quarter revenue is up 15.0% year on year, profit down 47.0%.
How profitable is Indigo Paints Limited?
On a trailing-twelve-month basis return on equity is 12.7%, return on capital employed 17.3%, operating margin 17.0%, net margin 10.0%.
How much debt does Indigo Paints Limited have?
Indigo Paints Limited is debt-free: debt to equity is 0.00 with borrowings of ₹3 cr against cash of ₹12 cr (balance sheet of 2026-09-30). Operating profit covers interest 72.1 times.
Financials parsed from Indigo Paints Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '23, annual from FY24, balance sheet from Sep '23. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.
Indigo Paints Limited · advanced chart