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Indigo Paints share price & results

Indigo Paints Limited· Consumer Durables· Consumer Discretionary

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Decorative paints maker (putty, emulsions, enamels, distempers) running 6 factories across Rajasthan, Tamil Nadu and Kerala, plus construction-chemicals arm Apple Chemie.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue350 ₹ crore+18.6% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin18.0 %+3.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit42.0 ₹ crore+61.5% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity15.00 %−1.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin6.26 %+1.0 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)9.40 %+2.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

6 of 9 judged targets kept · 11 open · verdicts reflect calls analysed to Q1 FY27.

Indigo Paints Limited management guidance track record on Inve: 20 targets tracked across analysed earnings calls (6 achieved, 3 missed, 11 open).

TargetOriginal wordingSaidLatest callVerdict
Solvent-based paint plant commissioningQ4 FY25 / Q1 FY26
Call transcript, Q2 FY25 · 8 Nov 2024		Q2 FY25Q1 FY27:Confirmed as operational, marking the end of the major capex cycle.
Call transcript, Q1 FY27 · 14 Aug 2026		Achieved*
Return to double-digit value growthSignificantly higher double digit value growth by Q2 FY26
Call transcript, Q4 FY25 · 26 May 2025		Q4 FY25Q1 FY27:The original target for Q2 FY26 remains missed. The company achieved 19.7% consolidated growth in Q1 FY27, but this does not alter the historical miss.
Call transcript, Q1 FY27 · 14 Aug 2026		Missed
Water-based paint plant commissioningQ2 FY26
Call transcript, Q2 FY25 · 8 Nov 2024		Q2 FY25Q1 FY27:Delayed due to tardy civil contractor. Trial production now expected in the second half of August 2026.
Call transcript, Q1 FY27 · 14 Aug 2026		Delayed

Source: Inve Guidance Tracker for Indigo Paints Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

3 of Indigo Paints Limited's 20 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 17 more targets are in the full ledger.

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Price

₹1,027.3 +0.54% · +₹5.5

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −0.5% 1Y

₹0.8k₹1.0k₹1.2kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 16 Feb 2026Q4 FY26 — 25 May 2026Q1 FY27 — 14 Aug 2026

1Y: ₹1,032.6 on 24 Oct 2025 → ₹1,027.3. High ₹1,326 (18 Nov 2025), low ₹710.8 (30 Mar 2026).

Previous close
₹1,021.8
Market cap
₹4.9k Cr
52-week range
₹710.8 – ₹1,326
One year
+1.67%
Price to earnings (TTM to Jun 2026)
29.76×
Return on equity (TTM to Jun 2026)
15.00%

Overview

Symbol
NSE:INDIGOPNTS
Industry
Consumer Discretionary
Exchange
NSE
Currency
INR

What Indigo Paints Limited does

Based on the company's own presentations, annual report and earnings calls.

Indigo Paints manufactures and sells decorative paints and coatings, including cement paints, putty, emulsions, enamels, wood coatings, primers and distempers, sold under the unified INDIGO brand through a nationwide dealer and depot network. It built its base in Tier 3/4 towns before expanding into Tier 1/2 cities, and has since diversified into waterproofing and construction chemicals through its subsidiary Apple Chemie, which serves both retail (under the Indigo Protect Plus series) and B2B infrastructure customers. The company earns through direct dealer sales supported by tinting machines that let dealers mix shades in-store, and it is investing in new capacity to support future volume growth.

Segments

  • Decorative Paints
  • Waterproofing & Construction Chemicals (WPCC)
Manufacturing plants
6
States with presence
28
Active dealer count
19,352
Tinting machines installed
12,217
Depots
55
Indigo Colour Canvas exclusive stores
16
Founded 2000Headquarters Pune, Maharashtra Company website

How the price took the results

close before → close after

Q1 FY27
+1.6%
14 Aug
Q4 FY26
−0.7%
25 May
Q3 FY26
+1.5%
16 Feb
Q2 FY26
+1.3%
7 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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