| Revenue growth | Standalone Q2 +14.1%; H1 +16.4% YoY |
|---|---|
| Margins | Q2 EBITDA 8.9% vs 15.3%; gross margin 38.5% vs 45.1% |
| Demand visibility | Dealer network revival expected to drive H2 growth |
| Management confidence | Expects H2 growth and improved product mix |
Growth
Standalone Q2 revenue +14.1%, H1 +16.4%. Consolidated Q2 sales +15.0%, PAT -47.0%.
Outlook
Management expects H2 growth, Q3/Q4 margin normalisation and gross margin recovery. No numeric guidance given.
Risks
High-cost RM inventory, adverse product mix, higher discounts, gross margin 38.5% vs 45.1%, elevated A&P spend.
Last quarter's promises, checked
Delivered
- Guided Q2 trade/influencer spend 'more aggressive' → higher discounts, elevated A&P (= BEAT)
Partly delivered
- Guided July growth ≥ Q1 +18.7% → Q2 +14.1%; July unverifiable (= PARTIAL)
- Guided Apple Chemie GM normal by Q3 → no subsidiary data (= PARTIAL)
- Guided 2K PU wood-coating launch Sep-Oct → not reported (= PARTIAL)
Missed
- Guided EBITDA margin YoY -1pp to +0.5pp → 8.9% vs 15.3% (-6.4pp) (= MISS)
- Guided GM dip ~2pp → 38.5% vs 45.1% (-6.6pp) (= MISS)
- Guided Jodhpur trial 2H Aug → from Sep'26 (= MISS)
Investor Presentation filed with NSE, NSE: INDIGOPNTS. Summary written with AI assistance from the document.
Indigo Paints Ltd: key numbers
- Share price
- ₹997.30
- Market cap
- ₹4,760 Cr
- Revenue (annual)
- ₹1,405 Cr
- Net profit (annual)
- ₹145.1 Cr
- P/E (TTM)
- 29.6×Sector 41.2×
- Promoter holding
- 53.81%-0.07% QoQ
- FII holding
- 5.70%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Indigo Paints Ltd
All →Indigo Paints Q2 FY27 Results: Net Profit ₹13.4 Cr, Down 46.8% YoY
Indigo Paints Ltd reported revenue from operations of ₹358.8 Cr (+15.0% YoY) and net profit of ₹13.4 Cr (-46.8% YoY) for Q2 FY27.
- Key figure
- Net profit ₹13.4 Cr · -46.8% YoY
Indigo Paints Other Announcement
Indigo Paints Ltd filed its quarterly shareholding pattern under Regulation 31(1)(b) for the quarter ended September 30, 2026.
Indigo Paints Board Meeting Date
Indigo Paints will hold a board meeting on October 30, 2026, to consider and approve standalone and consolidated financial results for the period ended September 30, 2026.
Indigo Paints Other Announcement
Indigo Paints filed the mandatory Regulation 74(5) compliance certificate for the quarter ended September 30, 2026, issued by its registrar.
Indigo Paints Annual General Meeting
Indigo Paints held its 26th Annual General Meeting on September 12, 2026. Shareholders adopted financial results, approved the final dividend, and ratified director appointments.
Indigo Paints Earnings Call Transcript: Key Takeaways
Indigo Paints reported strong double-digit growth in Q1 FY27, outperforming the paint sector with expanded EBITDA and PAT margins. Management highlighted successful operational leverage and distribution network depth.