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Indigo Paints (INDIGOPNTS)₹915.10+0.08%Paints
In the Sep 2026 quarter (consolidated), Indigo Paints reported sales of ₹360 Cr, up 15.1% from Sep 2025, and net profit of ₹12.97 Cr, down 48.1% year on year. For the year to Mar 2026, sales were ₹1,409 Cr and net profit ₹148 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 355 | 386 | 311 | 300 | 344 | 389 | 310 | 312 | 360 | 426 | 371 | 360 |
| Expenses | 293 | 301 | 265 | 259 | 286 | 301 | 266 | 267 | 291 | 331 | 309 | 329 |
| Operating Profit | 62.06 | 85.04 | 46.98 | 42.01 | 56.98 | 86.99 | 43.99 | 46.98 | 67.99 | 96.04 | 62.06 | 31.03 |
| OPM % | 18.0% | 22.0% | 15.0% | 14.0% | 17.0% | 23.0% | 14.0% | 15.0% | 19.0% | 22.0% | 17.0% | 9.0% |
| Other Income | 3.01 | 4.01 | 4.01 | 5.01 | 3.01 | 6.01 | 6.01 | 3.01 | −2.01 | 0.00 | 10.01 | 2.01 |
| Interest | 0.99 | 0.00 | 0.99 | 0.99 | 0.99 | 1.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
| Depreciation | 15.06 | 16.05 | 15.06 | 15.05 | 15.06 | 13.05 | 15.06 | 15.06 | 15.06 | 15.06 | 16.07 | 16.05 |
| Profit before tax | 50.16 | 73.16 | 36.09 | 31.10 | 45.13 | 79.24 | 35.10 | 34.10 | 50.12 | 80.28 | 56.19 | 17.03 |
| Tax % | 25.1% | 25.1% | 25.1% | 27.1% | 20.1% | 27.1% | 25.1% | 25.1% | 26.1% | 26.1% | 26.1% | 20.1% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −4.38 | 0.00 | 0.00 | 0.00 |
| Net Profit | 37.92 | 53.91 | 26.97 | 21.97 | 35.93 | 56.95 | 25.96 | 24.97 | 36.95 | 58.92 | 41.96 | 12.97 |
| EPS (Rs) | 7.81 | 11.26 | 5.49 | 4.74 | 7.55 | 11.93 | 5.43 | 5.26 | 7.62 | 12.08 | 8.75 | 2.78 |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales | 1,075 | 1,308 | 1,344 | 1,409 | 1,516 |
| Expenses | 895 | 1,071 | 1,110 | 1,153 | 1,259 |
| Operating Profit | 182 | 238 | 233 | 255 | 257 |
| OPM % | 17.0% | 18.0% | 17.0% | 18.0% | 17.0% |
| Other Income | 10.01 | 14.01 | 18.02 | 7.01 | 10.01 |
| Interest | 0.99 | 1.99 | 3.99 | 2.99 | 3.96 |
| Depreciation | 34.15 | 52.17 | 59.24 | 60.23 | 62.24 |
| Profit before tax | 156 | 199 | 191 | 199 | 204 |
| Tax % | 15.1% | 25.1% | 25.1% | 26.1% | — |
| Exceptional items | 1.01 | 1.01 | 0.00 | −5.02 | −4.38 |
| Net Profit | 132 | 149 | 142 | 148 | 151 |
| EPS (Rs) | 27.72 | 30.93 | 29.71 | 30.39 | 31.23 |
| Dividend payout % | 13.1% | 11.1% | 12.0% | 16.1% | — |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 47.84 | 47.86 | 47.85 | 47.80 |
| Reserves | 728 | 854 | 983 | 1,106 |
| Borrowings | 12.04 | 21.05 | 27.08 | 21.05 |
| Other Liabilities | 274 | 349 | 352 | 454 |
| Total Liabilities | 1,061 | 1,271 | 1,410 | 1,629 |
| Fixed Assets | 265 | 592 | 568 | 591 |
| CWIP | 250 | 16.93 | 136 | 219 |
| Investments | 132 | 167 | 226 | 300 |
| Other Assets | 414 | 495 | 481 | 519 |
| Inventories | 118 | 172 | 154 | 178 |
| Trade receivables | 200 | 223 | 244 | 286 |
| Cash & equivalents | 49.02 | 33.01 | 36.99 | 32.01 |
| Total Assets | 1,061 | 1,271 | 1,410 | 1,629 |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Cash from operating activity | 116 | 152 | 207 | 224 |
| Cash from investing activity | −84.12 | −142 | −178 | −196 |
| Cash from financing activity | −19.95 | −22.94 | −23.94 | −31.93 |
| Net cash flow | 12.03 | −14.03 | 4.01 | −5.01 |
| Capex | 198 | 104 | 136 | 135 |
| Free cash flow | −81.19 | 47.14 | 70.12 | 88.22 |
| CFO / OP % | 77.0% | 88.0% | 101.0% | 110.0% |
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor days | 68 | 62 | 66 | 74 |
| Inventory days | 73 | 92 | 78 | 88 |
| Days payable | 121 | 121 | 88 | 105 |
| Cash conversion cycle | 19 | 32 | 56 | 56 |
| Working capital days | 24 | 38 | 35 | 28 |
| ROCE % | — | 23.0% | 19.1% | 19.0% |
For the Sep 2026 quarter, Indigo Paints reported sales of ₹360 Cr, up 15.1% year on year and net profit of ₹12.97 Cr, down 48.1% year on year. The operating margin was 9.0%.
Indigo Paints' sales for the year to Mar 2026 were ₹1,409 Cr; over the last twelve months they were ₹1,516 Cr.
Net profit for the year to Mar 2026 was ₹148 Cr, and ₹151 Cr over the last twelve months. Earnings per share over the same trailing period were ₹31.23.
Indigo Paints reported borrowings of ₹21.05 Cr at Mar 2026, against cash and equivalents of ₹32.01 Cr.
Cash from operations was ₹224 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹88.22 Cr.