Indigo Paints
Indigo Paints Ltd valuation: P/E, P/B and sector benchmarks.
Twelve years of multiples investors have paid for Indigo Paints Ltd, framed against the sector median so the premium or discount is obvious at a glance.
Indigo Paints Ltd trades at a P/E of 32.82× and P/B of 4.11×, against the Basic Materials sector median P/E of 33.60×.
Valuation
Profitability
Growth
Financial Health
Indigo Paints Ltd financials: P&L, balance sheet, cash flow, ratios.
Twelve years of audited numbers for Indigo Paints Ltd, switchable between annual and quarterly views, consolidated or standalone.
Indigo Paints Ltd reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹4,886.76 Cr and reported EPS of ₹30.35.
| Period | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue from Operations | 1,306 | 1,341 | 1,405 |
| Other Income | 14 | 18 | 13 |
| Total Income | 1,320 | 1,359 | 1,418 |
| Cost of Goods Sold (COGS) | 684 | 724 | 751 |
| Gross Profit | 622 | 617 | 654 |
| +Operating Expenses | 384 | 384 | 399 |
| EBITDA | 238 | 233 | 255 |
| +Non-Operating Expenses | 54 | 62 | 57 |
| Profit Before Tax (PBT) | 199 | 190 | 198 |
| +Tax Expense | 50 | 48 | 51 |
| Profit After Tax (PAT) | 149 | 142 | 148 |
| Earnings Per Share (EPS) | 30.94 | 29.76 | 30.96 |
| Diluted Shares Outstanding (Nos.) | 5 | 5 | 5 |
| +Additional Disclosures | 1,807 | 1,893 | 1,964 |
| Sales Growth % | — | 2.65 | 4.80 |
| YoY Sales Growth % | — | 2.65 | 4.80 |
| Material Cost % | 53 | 51 | 50 |
| Employee Cost % | 8 | 8 | 9 |
| Other Cost % | 22 | 20 | 19 |
| OPM % | 18 | 17 | 18 |
| Tax % | 25 | 25 | 26 |
| Profit Growth % | — | -4.48 | 3.83 |
| Gross Margin % | 0.00 | 0.00 | 0.00 |
| EBITDA Margin % | 0.00 | 0.00 | 0.00 |
| Interest Coverage Ratio | 0.00 | 0.00 | 0.00 |
| Additional Fields | 186 | 175 | 195 |
Indigo Paints segment analysis: revenue and profit mix.
Disclosed business segments at Indigo Paints with their share of revenue and profit, switchable between consolidated and standalone reporting.
Indigo Paints discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.
Segment-wise Financial Analysis
Indigo Paints Ltd investment thesis: bull case, bear case, and the flip lines.
Why someone would buy Indigo Paints Ltd, why someone wouldn't, and the quantitative tripwires that would force the call to flip.
Indigo Paints Ltd's investment case rests on 6 positive markers and 6 flagged concerns drawn from the latest reported filings.
What you're getting.
Indigo Paints boasts a strong Return on Equity (ROE) of 14.60%, indicating efficient use of shareholder investments and profitability. This, coupled with a healthy Return on Capital Employed (ROCE) of 19.50%, showcases effective capital allocation and operational efficiency within the company.
Despite recent quarterly profit variability (-1.07% change), Indigo Paints demonstrates a relatively low debt-to-equity ratio of 0.03, suggesting a financially stable position with minimal reliance on debt financing for operations and growth.
Promoter holding stands at a robust 53.9%, signifying significant confidence in the company's future prospects and a reduced risk of hostile takeovers or significant share dilution for existing investors. This high promoter stake is a positive indicator of long-term commitment.
The company shows a considerable market capitalization of ₹4835 crore, indicating substantial investor interest and a strong presence within the paints industry. This, combined with a relatively high price-to-book value of 4.69, suggests potential for future growth and value appreciation.
The paints industry, part of the broader consumer durables sector, is poised for growth driven by increasing urbanization, rising disposable incomes, and infrastructure development. This presents a significant market expansion opportunity for Indigo Paints.
What can break it.
Indigo Paints exhibits a high Price-to-Earnings (P/E) ratio of 34.20, potentially indicating the stock might be overvalued compared to its earnings. Investors should carefully assess this valuation metric against industry peers and future growth expectations.
Quarterly sales have shown a slight decline (-0.68% variation), raising concerns about potential demand fluctuations or challenges in maintaining consistent revenue growth. Further analysis of market trends and company strategies is needed.
While the current price is ₹1014, the stock has experienced significant volatility, with a 52-week high of ₹1720 and a low of ₹900. This price fluctuation presents considerable risk for investors seeking stability in their portfolio.
Although promoter holding is high, the recent decrease in public shareholding (from 33.52% to 14.64% over time) warrants attention. This shift in shareholding structure could potentially impact the company's governance and future decision-making.
Intense competition from established players like Asian Paints and Berger Paints poses a significant threat, potentially leading to pricing pressures and market share erosion. Maintaining competitive edge requires continuous innovation and strong branding.
What would change my mind.
Trim if P/E re-rates above 43 (~1.3× the sector multiple of 33.6). The valuation cushion thins from there.
Reassess if quarterly profit growth prints below 0% for two consecutive quarters. The bull case relies on compounding earnings.
Watch interest coverage if debt-to-equity climbs above 2.33. Balance sheet risk re-prices growth multiples fast.
Exit if ROE slips below 9%. The operating engine is no longer compounding capital efficiently.
Indigo Paints Ltd peer comparison — same-sector benchmarks.
Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — Indigo Paints Ltd is highlighted for quick read-across.
Quick Compare
Indigo Paints Ltd technical analysis: indicators, pivots and CPR.
Live RSI, MACD and moving-average signals plus today's pivot and Central Pivot Range levels for Indigo Paints Ltd — derived from the live tape, not yesterday's close.
Indigo Paints Ltd last traded at ₹1,028.8 with an intraday range of ₹1,003.35–₹1,035 — live indicator, pivot and CPR signals below.
Pivot points
Standard pivot — most widely referenced.
Pivot levels · Classic
Live: ₹1028.80| Level | Price (₹) | Distance | % Δ |
|---|---|---|---|
| R4 | 1104.72 | +75.92 | +7.38% |
| R3 | 1073.07 | +44.27 | +4.30% |
| R2 | 1054.03 | +25.23 | +2.45% |
| R1 | 1041.42 | +12.62 | +1.23% |
| PIVOT | 1022.38 | -6.42 | -0.62% |
| CURRENT | 1028.80 | — | — |
| S1 | 946.47 | -82.33 | -8.00% |
| S2 | 978.12 | -50.68 | -4.93% |
| S3 | 990.73 | -38.07 | -3.70% |
| S4 | 1009.77 | -19.03 | -1.85% |
INDIGOPNTS is trading Above CPR, indicating Bullishness
CPR is Wider, suggesting unlikely for trending moves
Day's range: 1003.35 ~ 1014.45
Trading Inside opening range
Indigo Paints Ltd chart patterns: breakouts, tops and bottoms.
Auto-detected classical chart patterns for Indigo Paints Ltd — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.
Indigo Paints Ltd delivery volume — last 20 sessions of conviction.
Daily traded volume and delivery percentage for Indigo Paints Ltd over 20 sessions — the gap between intraday flipping and genuine accumulation.
Latest session delivery in Indigo Paints Ltd stood at 48.7% of traded volume, against a 20-day average of 47.8%.
Indigo Paints announcements: results, concalls, ratings, M&A.
Filings Indigo Paints sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.
Indigo Paints files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 85 documents below.
Analysts/Institutional Investor Meet/Con. Call Updates
Indigo Paints Limited has informed the Exchange about Link of Recording
Certificate under SEBI (Depositories and Participants) Regulations, 2018
Indigo Paints Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
Analysts/Institutional Investor Meet/Con. Call Updates
Indigo Paints Limited has informed the Exchange about Transcript
Analysts/Institutional Investor Meet/Con. Call Updates
Indigo Paints Limited has informed the Exchange about Link of Recording
Copy of Newspaper Publication
Indigo Paints Limited has informed the Exchange about Copy of Newspaper Publication
Investor decks & rating reports.
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Investor Presentation
Indigo Paints insider trading: promoter and management activity.
Promoter, director and designated-employee transactions in Indigo Paints as reported to SEBI — buying and selling signals from the people who know the business best.
Indigo Paints insider activity below tracks 1 reported promoter, director and designated-employee transactions under SEBI Regulation 7(2).
| Insider | Category | Txn Date | Action | Quantity | Value (₹) | Price |
|---|---|---|---|---|---|---|
| Parag Hemant Jalan | Insider | 25 Feb 2025 | buy | +35.49 L | — | — |
Indigo Paints dividend history, splits and bonus issues.
Every dividend, stock split and bonus issue Indigo Paints has declared, sequenced by announce and record date.
Indigo Paints corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.
About Indigo Paints Ltd: business, sector, key facts.
What Indigo Paints Ltd does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.
Indigo Paints Ltd operates in the Basic Materials, listed as NSE: INDIGOPNTS, BSE: 543258.
Indigo Paints Limited is a prominent player in the Indian decorative paints market, with a growing international presence. The company's core business revolves around the manufacturing and distribution of a wide range of paints and related products designed for both interior and exterior applications. Their product portfolio caters to diverse needs and preferences, encompassing a comprehensive selection of coatings for various surfaces and purposes.
Their product line includes a substantial offering of emulsions for both interior and exterior use, providing consumers with options for various aesthetic and protective requirements. Beyond emulsions, they offer a robust selection of enamels that provide durability and a high-gloss finish. In addition to these, their product range extends to crucial preparatory coatings like putties and primers that ensure proper adhesion and surface preparation before the application of decorative paints. To further enhance their product offering, they provide sleek wood coatings specifically designed to protect and beautify wooden surfaces.
Indigo Paints also distinguishes itself through the provision of specialized paint products addressing particular needs. This includes leakproof emulsions designed to prevent seepage and water damage, aluminium paints suitable for metallic surfaces, and specialized coatings for stone and tiles. They also provide roof paints formulated for the unique challenges of outdoor roof applications, and wood stainers that enhance the natural grain and color of wooden surfaces. All these products are marketed under the unified "Indigo" brand, creating a consistent and recognizable identity for the company.
Established in 2000 and headquartered in Pune, India, Indigo Paints has built a strong reputation within the Indian paint industry. Their strategic focus on a diversified product range, coupled with their commitment to quality and brand recognition, has contributed significantly to their success. While their primary market is within India, their expansion into international markets indicates an ambitious strategy for growth and wider market penetration beyond their domestic base.
Questions investors ask about Indigo Paints Ltd (INDIGOPNTS).
Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.
01What is the current share price of Indigo Paints Ltd (INDIGOPNTS)?
The current share price of Indigo Paints Ltd (INDIGOPNTS) is ₹1,028.8. Today, the stock has gained by ₹23.50 (2.34%), trading in a range of ₹1,003.35 to ₹1,035. The stock opened at ₹1,005.3 with a trading volume of 68,816 shares.
02Is Indigo Paints Ltd stock a good investment for long-term?
Indigo Paints Ltd can be considered for long-term investment based on several factors. The company has a market capitalization of ₹4,886.76 crores, P/E ratio of 32.82, ROE of 13.51%, and ROCE of 19.50%. The dividend yield stands at 0.35%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.
03What is the 52-week high and low price of Indigo Paints Ltd stock?
The 52-week high price of Indigo Paints Ltd (INDIGOPNTS) is ₹1,345.9, while the 52-week low is ₹708.05. Currently trading at ₹1,028.8, the stock is 50.3% away from its 52-week low and 23.6% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.
04Should I buy Indigo Paints Ltd stock at the current price?
Whether to buy Indigo Paints Ltd stock at ₹1,028.8 depends on multiple factors. The stock is currently trading with a P/E ratio of 32.82 and P/B ratio of 4.11. Today's performance shows a gain of 2.34%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.
05What is the dividend yield of Indigo Paints Ltd and when is the next dividend?
Indigo Paints Ltd offers a dividend yield of 0.35%, which means for every ₹100 invested at the current price of ₹1,028.8, you can expect to receive approximately ₹0.35 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.
06What are the key financial ratios and metrics of Indigo Paints Ltd?
Indigo Paints Ltd's key financial metrics include: P/E Ratio: 32.82, P/B Ratio: 4.11, ROE: 13.51%, ROCE: 19.50%, Dividend Yield: 0.35%, EPS: ₹30.35, Book Value: ₹242.13, and Debt-to-Equity: 1.83. The company's market cap stands at ₹4,886.76 crores. These metrics help evaluate the company's valuation, profitability, and financial health.
07How is Indigo Paints Ltd stock performing today in the market?
Indigo Paints Ltd stock opened at ₹1,005.3 and is currently trading at ₹1,028.8, showing a gain of ₹23.50 (2.34%). The intraday high is ₹1,035 and low is ₹1,003.35. The trading volume stands at 68,816 shares, indicating moderate market participation today.
08What is the P/E ratio of Indigo Paints Ltd and what does it indicate?
Indigo Paints Ltd has a Price-to-Earnings (P/E) ratio of 32.82, which means investors are willing to pay ₹32.82 for every ₹1 of earnings. With an EPS of ₹30.35, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.
The data, ratios and commentary about Indigo Paints Ltd (INDIGOPNTS) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.
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