About
Indigo Paints Limited manufactures and sells decorative paints in India and internationally. The company offers interior and exterior emulsions, enamels, putties and primers, and sleek wood coatings, as well as waterproofing solutions and construction chemicals; aluminium paints, stone and tiles paints, roof paints, stainers, interior lustre finish under the Indigo brand. The company was incorporated in 2000 and is headquartered in Pune, India.
Key Metrics
as of Sep 2026Market Cap5,658 Cr
P/E34.20
Div Yield0.42 %
Book Value₹242.00
52w High₹1,346.00
52w Low₹702.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 350.00 | 398.00 | 339.00 | 298.00 | 295.00 | 367.00 | 327.00 | 289.00 | 294.00 | 366.00 | 341.00 | 270.00 | 277.00 |
| Expenses | 288.00 | 306.00 | 273.00 | 253.00 | 251.00 | 281.00 | 270.00 | 246.00 | 248.00 | 284.00 | 280.00 | 229.00 | 229.00 |
| Operating Profit | 62.00 | 92.00 | 66.00 | 46.00 | 44.00 | 86.00 | 57.00 | 43.00 | 46.00 | 82.00 | 61.00 | 42.00 | 48.00 |
| OPM % | 18.00 | 23.00 | 19.00 | 15.00 | 15.00 | 23.00 | 18.00 | 15.00 | 16.00 | 22.00 | 18.00 | 15.00 | 17.00 |
| Other Income | 10.00 | 0.00 | -2.00 | 3.00 | 6.00 | 6.00 | 3.00 | 5.00 | 4.00 | 4.00 | 3.00 | 3.00 | 4.00 |
| Depreciation | 14.00 | 14.00 | 14.00 | 14.00 | 14.00 | 12.00 | 14.00 | 14.00 | 14.00 | 14.00 | 13.00 | 10.00 | 9.00 |
| Interest | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 57.00 | 77.00 | 49.00 | 34.00 | 35.00 | 78.00 | 46.00 | 33.00 | 35.00 | 72.00 | 50.00 | 34.00 | 42.00 |
| Tax % | 26.00 | 25.00 | 26.00 | 25.00 | 25.00 | 27.00 | 21.00 | 27.00 | 25.00 | 26.00 | 25.00 | 24.00 | 26.00 |
| Net Profit | 42.00 | 57.00 | 36.00 | 26.00 | 26.00 | 57.00 | 36.00 | 24.00 | 26.00 | 54.00 | 38.00 | 26.00 | 31.00 |
| EPS in Rs | 8.89 | 12.03 | 7.58 | 5.35 | 5.53 | 11.95 | 7.65 | 5.06 | 5.56 | 11.24 | 7.92 | 5.49 | 6.58 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,330.00 | 1,277.00 | 1,255.00 | 1,073.00 | 906.00 | 723.00 | 625.00 | 536.00 | 411.00 | 289.00 | 124.00 | 90.00 |
| Expenses | 1,083.00 | 1,046.00 | 1,022.00 | 892.00 | 770.00 | 601.00 | 534.00 | 481.00 | 387.00 | 291.00 | 130.00 | 97.00 |
| Operating Profit | 247.00 | 232.00 | 233.00 | 182.00 | 136.00 | 123.00 | 91.00 | 54.00 | 24.00 | -2.00 | -6.00 | -7.00 |
| OPM % | 19.00 | 18.00 | 19.00 | 17.00 | 15.00 | 17.00 | 15.00 | 10.00 | 6.00 | -0.70 | -4.50 | -8.00 |
| Other Income | 6.00 | 17.00 | 13.00 | 10.00 | 11.00 | 4.00 | 2.00 | 1.00 | -1.00 | 1.00 | 1.00 | 2.00 |
| Interest | 2.00 | 3.00 | 2.00 | 1.00 | 1.00 | 4.00 | 6.00 | 5.00 | 4.00 | 3.00 | 0.00 | 1.00 |
| Depreciation | 55.00 | 54.00 | 46.00 | 34.00 | 31.00 | 24.00 | 20.00 | 17.00 | 17.00 | 14.00 | 1.00 | 1.00 |
| Profit before tax | 195.00 | 192.00 | 198.00 | 156.00 | 114.00 | 98.00 | 67.00 | 34.00 | 2.00 | -18.00 | -6.00 | -7.00 |
| Tax % | 26.00 | 25.00 | 25.00 | 15.00 | 26.00 | 28.00 | 29.00 | 20.00 | -14.00 | -10.00 | 0.00 | 0.00 |
| Net Profit | 145.00 | 144.00 | 149.00 | 132.00 | 84.00 | 71.00 | 48.00 | 27.00 | 3.00 | -16.00 | -6.00 | -7.00 |
| EPS in Rs | 30.50 | 30.22 | 31.22 | 27.73 | 17.67 | 14.89 | 16.48 | 9.32 | 0.90 | -5.55 | -136.43 | -158.03 |
| Dividend Payout % | 16.00 | 12.00 | 11.00 | 13.00 | 17.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 48.00 | 48.00 | 48.00 | 48.00 | 48.00 | 48.00 | 29.00 | 29.00 | 29.00 | 29.00 | 0.44 | 0.44 |
| Reserves | 1,135.00 | 1,000.00 | 867.00 | 729.00 | 602.00 | 516.00 | 150.00 | 100.00 | 71.00 | 69.00 | 129.00 | 26.00 |
| Borrowings | 18.00 | 20.00 | 17.00 | 12.00 | 12.00 | 9.00 | 75.00 | 88.00 | 54.00 | 52.00 | 8.00 | 4.00 |
| Other Liabilities | 369.00 | 290.00 | 290.00 | 274.00 | 258.00 | 239.00 | 169.00 | 156.00 | 125.00 | 97.00 | 58.00 | 30.00 |
| Total Liabilities | 1,570.00 | 1,358.00 | 1,222.00 | 1,062.00 | 920.00 | 811.00 | 422.00 | 373.00 | 279.00 | 246.00 | 196.00 | 61.00 |
| Fixed Assets | 549.00 | 525.00 | 548.00 | 265.00 | 253.00 | 249.00 | 201.00 | 149.00 | 95.00 | 91.00 | 13.00 | 12.00 |
| CWIP | 220.00 | 135.00 | 15.00 | 251.00 | 51.00 | 3.00 | 1.00 | 4.00 | 2.00 | 2.00 | 0.00 | 1.00 |
| Investments | 320.00 | 247.00 | 188.00 | 132.00 | 173.00 | 50.00 | 21.00 | 20.00 | 15.00 | 16.00 | 124.00 | 1.00 |
| Other Assets | 481.00 | 451.00 | 471.00 | 414.00 | 442.00 | 509.00 | 199.00 | 201.00 | 167.00 | 137.00 | 58.00 | 46.00 |
| Total Assets | 1,570.00 | 1,358.00 | 1,222.00 | 1,062.00 | 920.00 | 811.00 | 422.00 | 373.00 | 279.00 | 246.00 | 196.00 | 61.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 211.00 | 205.00 | 152.00 | 116.00 | 65.00 | 121.00 | 72.00 | 50.00 | 27.00 | -26.00 | 11.00 | -6.00 |
| Cash from Investing Activity | -194.00 | -175.00 | -143.00 | -84.00 | -69.00 | -318.00 | -61.00 | -62.00 | -23.00 | 15.00 | -123.00 | -10.00 |
| Cash from Financing Activity | -26.00 | -25.00 | -24.00 | -20.00 | -5.00 | 236.00 | -17.00 | 19.00 | -4.00 | 8.00 | 113.00 | 16.00 |
| Net Cash Flow | -9.00 | 4.00 | -15.00 | 12.00 | -9.00 | 39.00 | -6.00 | 7.00 | 0.00 | -3.00 | 1.00 | 1.00 |
| Free Cash Flow | 79.00 | 72.00 | 51.00 | -81.00 | -56.00 | 55.00 | 11.00 | -12.00 | 2.00 | -34.00 | 11.00 | -6.00 |
| CFO/OP % | 109.00 | 102.00 | 90.00 | 77.00 | 67.00 | 112.00 | 93.00 | 101.00 | 113.00 | 1,325.00 | -206.00 | 74.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71.00 | 63.00 | 59.00 | 68.00 | 69.00 | 61.00 | 61.00 | 71.00 | 92.00 | 99.00 | 97.00 | 105.00 |
| Inventory Days | 89.00 | 80.00 | 93.00 | 72.00 | 84.00 | 92.00 | 87.00 | 85.00 | 81.00 | 107.00 | 89.00 | 90.00 |
| Days Payable | 103.00 | 88.00 | 123.00 | 122.00 | 143.00 | 180.00 | 157.00 | 167.00 | 170.00 | 190.00 | 219.00 | 212.00 |
| Cash Conversion Cycle | 57.00 | 54.00 | 29.00 | 18.00 | 10.00 | -27.00 | -9.00 | -11.00 | 2.00 | 16.00 | -33.00 | -17.00 |
| Working Capital Days | 28.00 | 35.00 | 37.00 | 25.00 | 22.00 | 3.00 | 0.00 | -9.00 | 6.00 | 9.00 | -27.00 | 34.00 |
| ROCE % | 18.00 | 20.00 | 23.00 | 22.00 | 19.00 | 25.00 | 31.00 | 21.00 | 5.00 | -10.00 | -7.00 | -25.00 |
Corporate Actions
5 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 22 Aug 2025 | 22 Aug 2025 | — | 3.50 | |
| Dividend | 02 Aug 2024 | 02 Aug 2024 | — | 3.50 | |
| Other | 02 Aug 2024 | — | — | — | Annual General Meeting |
| Dividend | 28 Jul 2023 | — | — | 3.50 | |
| Dividend | 25 Aug 2022 | — | — | 3.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
-
Rating update6 Apr 2021 from care