| Management target | Revenue 24.0% FY27 |
|---|
| Revenue growth | 8.4% Standalone Q4 growth; 4.8% Consolidated FY26 growth. |
|---|---|
| Margins | Gross margin 48.6% (Q4); willing to sacrifice 200bps for growth. |
| Order book | Strong order visibility for Apple Chemie subsidiary. |
| Demand visibility | Decisive demand uptick since Nov 2025; strong momentum last 5 months. |
| Management confidence | High; pursuing aggressive top-line growth and market share gains. |
Growth
FY26 consolidated revenue rose 4.8% to INR 1,405 Cr; Q4 consolidated revenue grew 9.7% YoY.
Outlook
Targeting 24% growth in FY27 (2x industry). New Jodhpur plant operational by June 2026; no major capex until FY29.
Risks
Unprecedented spike in raw material costs in March 2026 due to Middle East conflict; volatile consumer sentiment.
Last quarter's promises, checked
Delivered
- Jodhpur water-based plant commissioning by June 2026 → On track for June 2026 (= BEAT)
- Differentiated products to offset cost pressure → Q4 Gross Margin 48.6% vs 47.4% YoY (= BEAT)
- Expand dealer network → Reached 19,350+ active dealers (= BEAT)
Partly delivered
- Maintain industry-leading margins → Q4 PAT margin 14.4% vs 15.3% YoY due to treasury losses (= PARTIAL)
Earnings Call Transcript filed with NSE, NSE: INDIGOPNTS. Summary written with AI assistance from the document.
Indigo Paints Ltd: key numbers
- Share price
- ₹1,060.70
- Market cap
- ₹5,063 Cr
- Revenue (annual)
- ₹1,405 Cr
- Net profit (annual)
- ₹145.1 Cr
- P/E (TTM)
- 31.5×Sector 45.6×
- Promoter holding
- 53.88%+0.00% QoQ
- FII holding
- 5.73%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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