Indigo Paints
- Market cap
- ₹ 4,829 Cr.
- P/E
- 29.3x
- P/B
- 4.19x
- 52-week range
- 708.05 – 1,345.9
- ROE
- 13%
- ROCE
- 18%
- Dividend yield
- 0.5%
- Debt / equity
- 0.02
- Sector
- Consumer Durables
- Industry
- Paints
- Listed on
- NSE, BSE
About
Indigo Paints Limited (IPL) is engaged in the manufacture and sale of decorative paints, construction chemicals and waterproofing products. IPL operates in one segment, namely Paints. Its product offerings include interior emulsions, exterior emulsions, exterior & interior emulsions, enamels, waterproofing solutions, sleek wood coatings, primers and putties, and private labels. It offers various other types of emulsion paints and enamels, such as dirtproof, waterproof exterior laminate, exterior and interior acrylic laminate, and polyurethane (PU) super gloss enamel. It also offers aluminum paints to paint surfaces of storage tanks, metal pipes, and metal roofs. Its products are sold under one brand name, Indigo. It has its investment in a subsidiary, Apple Chemie India Private Limited, which is engaged in the manufacture and sale of construction chemicals and waterproofing products. Its manufacturing facilities are in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu).
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Paints: 10 companies →Indigo Paints against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)29.3 against a typical 35.7: cheaper than most peers (1st = cheapest).3rd of 10
- Sales growth+18.6% against a typical +13% from a year earlier.3rd of 10
- Profit growth+61.5% against a typical +14.3% from a year earlier.2nd of 9
- Share price, 3 months−7.8% against a typical −9.1%.5th of 10
- Size₹ 4,829.1 Cr. market value against a typical ₹ 1,815.9 Cr. (1st = largest).4th of 10
Research by Minerva Capital Research Solutions
Our research team's work on Indigo PaintsAlso covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 30 Oct 2026Upcoming | Financial Results | To consider and approve the unaudited financial results for the quarter and half year ended September 30, 2026 |
| 13 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 22 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 13 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 6 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 7 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 24 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 270 | 341 | 366 | 294 | 289 | 327 | 367 | 295 | 298 | 339 | 398 | 350 |
| Expenses | 229 | 280 | 284 | 248 | 246 | 270 | 281 | 251 | 253 | 273 | 306 | 288 |
| Operating Profit | 42 | 61 | 82 | 46 | 43 | 57 | 86 | 44 | 46 | 66 | 92 | 62 |
| OPM % | 15% | 18% | 22% | 16% | 15% | 18% | 23% | 15% | 15% | 19% | 23% | 18% |
| Other Income | 3 | 3 | 4 | 4 | 5 | 3 | 6 | 6 | 3 | −2 | 0 | 10 |
| Interest | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 1 | 1 |
| Depreciation | 10 | 13 | 14 | 14 | 14 | 14 | 12 | 14 | 14 | 14 | 14 | 14 |
| Profit before tax | 34 | 50 | 72 | 35 | 33 | 46 | 78 | 35 | 34 | 49 | 77 | 57 |
| Tax % | 24% | 25% | 26% | 25% | 27% | 21% | 27% | 25% | 25% | 26% | 25% | 26% |
| Net Profit | 26 | 38 | 54 | 26 | 24 | 36 | 57 | 26 | 26 | 36 | 57 | 42 |
| EPS in Rs | 5.49 | 7.92 | 11.24 | 5.56 | 5.06 | 7.65 | 11.95 | 5.53 | 5.35 | 7.58 | 12.03 | 8.89 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 27%
- 5 Years
- 13%
- 3 Years
- 7%
- TTM
- 8%
- 10 Years
- 39%
- 5 Years
- 16%
- 3 Years
- 5%
- TTM
- 15%
- 10 Years
- —
- 5 Years
- −14%
- 3 Years
- −9%
- TTM
- —
- 10 Years
- 15%
- 5 Years
- 15%
- 3 Years
- 15%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Indigo Paints | ₹ 1,016.80 | ₹ 4,829 Cr. | 29.3x | 4.2x | 13% | — |
| Asian Paints | ₹ 2,305.00 | ₹ 2,21,095 Cr. | 58.1x | 12.1x | 21.2% | 12.4% |
| Solar Industries India | ₹ 18,320.00 | ₹ 1,65,778 Cr. | 99.6x | 26.6x | 31.4% | 17.7% |
| Pidilite Industries | ₹ 1,514.00 | ₹ 1,54,107 Cr. | 64.8x | 14.7x | 23.8% | 16.9% |
| SRF | ₹ 2,309.00 | ₹ 68,444 Cr. | 44.6x | 6.1x | 13.8% | 11.6% |
| Linde India | ₹ 5,697.00 | ₹ 48,586 Cr. | 110.5x | 14.2x | 13.6% | 21.7% |
Management
- Hemant Kamala Jalan
- Chairman of the Board, Managing Director
- Chetan Bhalchandra Humane
- Chief Financial Officer
- Sayalee Yengul
- Compliance Officer, Company Secretary
- Narayanankutty Kottiedath Venugopal
- Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.