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 ....
INDIGOPNTS · price
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Indigo Paints reported Q4 standalone revenue of INR 397.9 crores (8.4% Y-o-Y growth) with gross margin improving to 48.6% despite raw material costs surging 50-100% in March due to the Iran war. Full year FY '26 standalone revenue was INR 1,330 crores (4.1% growth) with EBITDA margin of 18.5%. Management announced a strategic shift: the company will pursue aggressive top-line growth by accepting a potential 200-250 bps reduction in gross margins, prioritizing market share gains over margin protection. The new Jodhpur water-based plant (90,000 KL capacity) is in final commissioning with trial production expected in June 2026. The Board proposed a 43% dividend increase to INR 5 per share. Subsidiary Apple Chemie targets 30%+ growth in FY '27.
The dividend increase and completion of major capex cycle signal stronger free cash flow generation from FY '27 onwards. The strategic willingness to sacrifice margins for growth suggests near-term profitability may be compressed but positions the company for accelerated market share gains.