Indigo Paints Limited

BSE: INDIGOPNTS543258ISIN INE09VQ01012

Consumer Discretionary
Paints
BSE 1000

Share price

₹860.45-4.00 (-0.46%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹1,345.00
52W low: ₹702.10
Off 52W high: -36.03%
1M return: -17.16%
3M return: -20.53%
6M return: -3.99%
1Y return: -13.68%
20D avg volume: 9,088
50 DMA: ₹1,073.22
200 DMA: ₹1,001.46

Key ratios Consolidated

Market cap: ₹4,107 Cr
Current price: ₹860.45
52W high / low: ₹1,345.00 / ₹702.10
Face value: ₹10.00
P/E: 27.13
P/B: 3.47
EPS (TTM): ₹31.72
Book value / share: ₹247.86
ROE: —
ROCE: 16.30%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-30.21 Cr
Interest cover: 68.97
Dividend yield: 0.58%
Dividend / share (TTM): ₹5.00
Payout: 15.76%
Cash conversion cycle: 63.9 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	358.75	369.67	425.32	358.78	312.06	308.86	387.56	342.62	299.54	310.96	384.88	353.77
	2.17	10.19	0.28	3.73	3.00	5.96	6.03	3.15	5.12	4.21	4.16	3.07
	360.92	379.86	425.60	362.50	315.05	314.82	393.58	345.76	304.65	315.17	389.04	356.83
	344.27	323.83	346.00	306.03	281.29	280.06	314.92	300.72	274.10	279.48	316.33	306.76
	214.86	217.36	201.27	178.09	158.66	169.47	191.63	174.24	156.39	166.75	184.25	185.21
	10.20	12.15	14.44	13.91	8.00	6.88	7.87	8.31	9.62	6.02	6.76	8.13
	36.81	36.36	32.80	31.96	31.11	31.02	25.63	28.13	29.73	30.20	23.35	26.35
	0.75	0.58	0.95	0.57	0.71	0.69	1.55	0.60	0.71	0.64	0.46	0.62
	15.73	15.60	15.32	15.03	15.06	14.82	13.23	14.68	15.36	15.25	15.58	14.61
	69.77	66.35	75.97	67.44	62.08	66.43	68.43	—	—	—	8.59	—
	16.66	56.03	79.60	56.47	33.77	34.75	78.67	45.05	30.55	35.69	72.71	50.07
	0.00	0.00	0.00	-6.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	16.66	56.03	79.60	50.34	33.77	34.75	78.67	45.05	30.55	35.69	72.71	50.07
	3.26	14.33	20.44	13.20	8.52	8.70	21.26	9.20	8.30	9.03	18.27	12.52
	13.39	41.70	59.16	37.14	25.25	26.06	57.41	35.85	22.26	26.65	54.44	37.55
	2.80	8.76	12.10	7.63	5.27	5.44	11.94	7.56	4.76	5.50	11.28	7.82
Key metrics
	33.14	72.21	95.87	65.94	49.54	50.26	93.45	60.33	46.62	51.58	88.75	65.30
	9.20%	19.50%	22.50%	18.40%	15.90%	16.30%	24.10%	17.60%	15.60%	16.60%	23.10%	18.50%
	3.70%	11.30%	13.90%	10.40%	8.10%	8.40%	14.80%	10.50%	7.40%	8.60%	14.10%	10.60%
	1.30%	—	6.50%	—	3.00%	—	7.20%	—	—	—	—	—
	15.00%	19.70%	9.70%	4.70%	4.20%	-0.70%	0.70%	-3.20%	—	—	—	—
	-47.00%	60.00%	3.00%	3.60%	13.40%	-2.20%	5.50%	-4.50%	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	1,513	1,405	1,341	1,306
	16.37	12.96	18.50	14.22
	1,529	1,418	1,359	1,320
	1,320	1,213	1,169	1,122
	811.58	707.49	689.01	685.87
	50.70	43.23	31.82	26.70
	137.93	126.89	113.69	99.48
	2.85	2.92	3.50	2.12
	61.68	60.22	58.53	51.58
	279.53	271.93	269.83	23.28
	208.76	204.59	189.95	198.58
	-6.13	-6.13	0.00	0.00
	202.63	198.46	189.95	198.58
	51.23	50.85	47.79	49.75
	151.39	147.61	142.16	148.83
	31.29	30.44	29.76	30.95
Key metrics
	267.16	261.60	251.98	252.28
	17.66%	18.60%	18.80%	19.30%
	10.01%	10.50%	10.60%	11.40%
	—	16.30%	17.30%	—
	11.95%	4.80%	2.60%	—
	4.72%	3.80%	-4.50%	—
	—	87.64	69.46	—
	—	1.51	1.45	—
	—	0.00	0.01	—
	—	-30.21	-30.71	—
	—	63.9	60.1	—
Balance sheet
	—	1,629	1,410	—
	—	811.39	684.99	—
	—	32.12	37.11	—
	—	285.51	243.86	—
	—	178.23	153.58	—
	—	14.84	23.96	—
	—	472.74	445.28	—
	—	217.96	176.71	—
	—	395.22	288.77	—
	—	1.91	6.40	—
	—	1.65	5.52	—
	—	0.26	0.88	—
	—	1,153	1,031	—
Cash flow
	—	222.58	205.66	—
	—	-196.03	-177.53	—
	—	-31.54	-23.93	—
	—	134.94	136.20	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	340.48	350.05	397.91	338.85	298.50	294.85	367.22	327.48	288.55	293.95	366.14	341.25
	1.99	9.85	0.19	3.57	2.74	5.72	5.57	2.96	4.89	4.04	4.05	2.88
	342.48	359.90	398.10	342.42	301.24	300.58	372.79	330.44	293.44	297.99	370.19	344.13
	325.24	302.97	322.16	287.53	267.10	265.40	294.82	284.55	260.49	262.56	298.30	293.98
	203.25	203.65	184.48	166.10	150.39	161.23	178.97	164.14	149.09	156.44	172.82	177.81
	10.20	12.15	14.44	13.91	8.00	6.88	7.87	8.31	9.62	6.02	6.76	8.13
	33.99	33.60	30.27	29.50	28.73	28.60	23.33	25.77	27.32	27.86	21.54	24.75
	0.61	0.51	0.85	0.46	0.54	0.53	1.42	0.45	0.57	0.52	0.35	0.35
	14.48	14.36	14.10	13.84	13.86	13.63	12.07	13.93	13.96	13.88	14.09	13.30
	66.67	63.07	72.60	64.51	60.03	63.67	64.96	—	—	—	5.79	—
	17.23	56.93	75.95	54.88	34.14	35.18	77.97	45.89	32.95	35.42	71.88	50.15
	0.00	0.00	0.00	-5.85	0.00	0.00	0.00	—	—	—	—	—
	17.23	56.93	75.95	49.03	34.14	35.18	77.97	45.89	32.95	35.42	71.88	50.15
	3.43	14.56	19.59	12.87	8.60	8.82	21.07	9.43	8.83	8.96	18.36	12.45
	13.81	42.37	56.36	36.16	25.53	26.36	56.90	36.46	24.12	26.46	53.52	37.70
	2.90	8.89	12.03	7.59	5.36	5.53	11.94	7.66	5.06	5.56	11.24	7.92
Key metrics
	32.32	71.80	90.90	63.33	48.54	49.34	91.46	60.27	47.48	49.82	86.32	63.80
	9.50%	20.50%	22.80%	18.70%	16.30%	16.70%	24.90%	18.40%	16.50%	16.90%	23.60%	18.70%
	4.10%	12.10%	14.20%	10.70%	8.60%	8.90%	15.50%	11.10%	8.40%	9.00%	14.60%	11.00%
	1.40%	—	6.30%	—	3.10%	—	7.30%	—	—	—	—	—
	14.10%	18.70%	8.40%	3.50%	3.40%	0.30%	0.30%	-4.00%	—	—	—	—
	-45.90%	60.70%	-0.90%	-0.80%	5.80%	-0.40%	6.30%	-3.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	1,427	1,330	1,277	1,255	1,073	905.98
	15.60	12.22	17.46	13.43	10.07	10.89
	1,443	1,342	1,295	1,268	1,083	916.87
	1,238	1,142	1,102	1,070	927.52	802.57
	757.48	662.20	648.64	655.67	576.33	508.88
	50.70	43.23	31.82	26.70	20.57	19.26
	127.36	117.10	104.27	92.33	73.10	56.33
	2.43	2.39	2.96	1.59	1.38	1.33
	56.78	55.43	53.84	46.18	34.35	31.25
	266.85	260.81	258.25	15.45	11.32	200.14
	204.99	200.14	192.23	198.36	155.88	114.30
	-5.85	-5.85	0.00	—	—	—
	199.14	195.27	192.23	198.36	155.88	114.30
	50.45	49.88	48.29	49.71	23.94	30.25
	148.70	145.39	143.94	148.65	131.94	84.05
	31.41	30.51	30.22	31.23	27.73	17.67
Key metrics
	258.35	253.09	249.03	246.13	191.61	146.88
	18.10%	19.00%	19.50%	19.60%	17.90%	16.20%
	10.42%	10.90%	11.30%	11.80%	12.30%	9.30%
	—	16.10%	17.90%	—	—	—
	10.81%	4.10%	1.80%	16.90%	18.50%	—
	2.38%	1.00%	-3.20%	12.70%	57.00%	—
	—	78.51	71.79	—	—	—
	—	1.45	1.42	—	—	—
	—	0.00	0.00	—	—	—
	—	-28.54	-37.09	—	—	—
	—	63.4	58.2	—	—	—
Balance sheet
	—	1,570	1,358	—	—	—
	—	763.17	646.29	—	—	—
	—	28.54	37.09	—	—	—
	—	257.29	219.92	—	—	—
	—	173.07	149.13	—	—	—
	—	14.42	23.85	—	—	—
	—	458.85	433.20	—	—	—
	—	199.44	165.29	—	—	—
	—	342.92	269.48	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	1,181	1,048	—	—	—
Cash flow
	—	211.37	204.95	—	—	—
	—	-193.95	-175.04	—	—	—
	—	-25.96	-25.47	—	—	—
	—	132.86	133.16	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +7.41%
Sales CAGR 5Y: —
Profit CAGR 3Y: +3.29%
Profit CAGR 5Y: —
Sales YoY (TTM): +10.81%
Profit YoY (TTM): +2.38%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +11.95%
Profit YoY (TTM): +4.72%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 53.82%

Quarter	September 2026	June 2026
Promoter %	53.82%	53.88%

Holder	Type	Holding	Previous	Change
Hemant Kamala Jalan	Promoter	17.95%	17.97%	-0.02%
Anita Hemant Jalan	Promoter	14.64%	14.66%	-0.02%
Parag Hemant Jalan	Promoter	10.84%	10.85%	-0.01%
Halogen Chemicals Pvt Ltd	Promoter	10.39%	10.40%	-0.01%
Hdfc Small Cap Fund	Public	8.14%	6.44%	+1.70%
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund	Public	6.04%	8.65%	-2.61%
Kotak Mahindra Trustee Co Ltd A/C Kotak Multicap Fund	Public	3.33%	3.33%	0.00%
Dsp Flexi Cap Fund	Public	2.83%	2.76%	+0.07%
Whiteoak Capital Flexi Cap Fund	Public	1.89%	1.90%	-0.01%
Ashoka Whiteoak Icav - Ashoka Whiteoak India Opportunities Fund	Public	1.42%	1.54%	-0.12%
Abu Dhabi Investment Authority - Way	Public	1.17%	1.17%	0.00%
Edelweiss Trusteeship Co Ltd Ac- Edelweiss Mf Ac-Edelweiss Small Cap Fund	Public	1.12%	—	—

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Asian Paints Ltd.	2,32,126	2,420.00	47.33	23.80%	+12.37% TTM	+23.70% TTM	-2.68%
Berger Paints India Ltd	56,534	484.85	46.42	20.00%	+5.22% TTM	+6.48% TTM	-9.80%
Kansai Nerolac Paints	15,761	194.85	26.77	11.80%	+5.24% TTM	-46.49% TTM	-21.61%
JSW Dulux Limited	12,023	264.00	0.61	89.60%	-11.34% TTM	+383.53% TTM	-18.54%
Indigo Paints Limited	4,107	860.45	27.13	16.30%	+11.95% TTM	+4.72% TTM	-13.68%
Sirca Paints India Limited	2,326	409.55	34.71	17.90%	+24.10% TTM	+26.31% TTM	-19.16%
Shalimar Paints Ltd.	665	79.39	-7.56	-15.10%	-11.84% TTM	-36.60% TTM	+2.90%
Kamdhenu Ventures Limited	127	3.87	-16.68	2.30%	-8.05% TTM	-232.47% TTM	-52.16%
Retina Paints Limited S	40	26.35	62.74	5.50%	—	—	-61.25%

Filings & corporate actions

Recent announcements

We wish to submit audio recording of Analysts / Investors Call held today i.e. November 02, 2026.2 Nov 2026 · Company Update / Analyst / Investor Meet
Newspaper Publication31 Oct 2026 · Company Update / Newspaper Publication
Investor Presentation for the Investor/Analyst on Unaudited Financial Results for the quarter and half-year ended September 30, 2026.30 Oct 2026 · Company Update / Investor Presentation
Unaudited Financial Results for the quarter and half-year ended September 30, 2026.30 Oct 2026 · Result / Financial Results
Outcome of the Board Meeting of Indigo Paints Limited held on Friday, October 30, 2026.30 Oct 2026 · Board Meeting / Outcome of Board Meeting
Earnings Conference Call (Q2 FY 2026-27 Results-group conference call through digital means) on Monday, November 02, 2026 at 11:00 Hrs (IST).22 Oct 2026 · Company Update / Analyst / Investor Meet
Indigo Paints Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/10/2026 ,inter alia, to consider and approve The Unaudited Standalone and ....16 Oct 2026 · Board Meeting / Board Meeting
Submission of Compliance Certificate under Reg 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended September 30, 202612 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of Closure of trading window under SEBI (PIT) Regulations, 2015 from October 01, 2026 till 48 hours after the announcement of unaudited financial results of the Company for the ....28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
26th Annual General Meeting - Voting Results and Scrutinizers Report15 Sep 2026 · AGM/EGM / AGM
Intimation of Proceedings of 26th Annual General Meeting of the Company.12 Sep 2026 · AGM/EGM / AGM
Earnings Call Transcript3 Sep 2026 · Company Update / Earnings Call Transcript
Newspaper Publication22 Aug 2026 · Company Update / Newspaper Publication
Business Responsibility and Sustainability Report for FY 2025-2621 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
Annual Report for FY 2025-2621 Aug 2026 · Others / Reg. 34 (1) Annual Report
Notice of Annual General Meeting scheduled to be held on Saturday, September 12, 2026 at 11:00 A.M. (IST).21 Aug 2026 · AGM/EGM / AGM
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for HDFC Mutual Fund19 Aug 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Nippon India Mutual Fund18 Aug 2026 · Insider Trading / SAST / Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
Please find enclosed copies of the newspaper advertisement dated August 15, 2026 pertaining to the financial results of the Company for the quarter ended June 30, 2026.15 Aug 2026 · Company Update / Newspaper Publication
We wish to submit audio recording of Analysts / Investors Call held today i.e. August 14, 2026.14 Aug 2026 · Company Update / Analyst / Investor Meet
Presentation for the Investors / Analysts on Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026.13 Aug 2026 · Company Update / Investor Presentation
Outcome of the Board Meeting Held on August 13, 2026 - Acquisition13 Aug 2026 · Company Update / Acquisition
Outcome of the Board Meeting Held on August 13, 2026 - Book Closure13 Aug 2026 · Corp. Action / Book Closure
Outcome of the Board Meeting Held on August 13, 2026 - Record Date13 Aug 2026 · Corp. Action / Record Date
Outcome of the Board Meeting Held On August 13, 2026 - Intimation of details of Annual General Meeting and other allied matters.13 Aug 2026 · AGM/EGM / AGM
Financial Results for the quarter ended June 30, 2026.13 Aug 2026 · Result / Financial Results
Outcome Of The Board Meeting Held On August 13, 202613 Aug 2026 · Board Meeting / Outcome of Board Meeting
Pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015, we hereby intimate that an Earnings Conference Call (Q1 FY 2026-27 Results-group conference call through ....3 Aug 2026 · Company Update / Analyst / Investor Meet
Announcement under Reg. 30 SEBI LODR - Allotment of Equity Shares pursuant to Employee Stock Option Scheme.22 Jul 2026 · Company Update / Allotment of ESOP / ESPS
Indigo Paints Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2026 ,inter alia, to consider and approve the Unaudited Standalone and ....16 Jul 2026 · Board Meeting / Board Meeting
Submission of Compliance Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended June 30, 202615 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of closure of trading window under SEBI (PIT) Regulations, 2015 from July 1, 2026 till 48 hours after the announcement of unaudited financial results of the Company for the quarter ....28 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Please find enclosed the Annual Secretarial Compliance Report under Reg 24(A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the Financial Year ended ....30 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Please find enclosed the transcript of the earnings conference call held with the analysts and investors on May 25, 2026 to discuss the Financial Results of the Company for the quarter ....29 May 2026 · Company Update / Earnings Call Transcript
We wish to submit audio recording of Analyst / Investor Call held today i.e. on May 25, 2026.25 May 2026 · Company Update / Analyst / Investor Meet
Please find enclosed copies of the newspaper advertisement dated May 24, 2026 pertaining to financial results of the Company for the quarter and year ended March 31, 2026.24 May 2026 · Company Update / Newspaper Publication
Presentation for the Investor / Analysts on Standalone and Consolidated Financial Results of the Comapny for the quarter and year ended March 31, 202623 May 2026 · Company Update / Investor Presentation
Outcome of Board Meeting held on May 22, 2026 - Grant of Options under ESOS.22 May 2026 · Company Update / General
Outcome of the Board Meeting held on May 22, 202622 May 2026 · Company Update / General
Outcome of Board Meeting held on May 22, 202622 May 2026 · Company Update / Change in Management

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 5.0000	4 Sep 2026	4 Sep 2026	—
Final Dividend - Rs. - 3.5000	22 Aug 2025	22 Aug 2025	—
Final Dividend - Rs. - 3.5000	2 Aug 2024	—	—

Board meetings

30 Oct 2026 Board Meeting - Financial Results
13 Aug 2026 Board Meeting - Financial Results