Presentation for the Investor / Analysts on Standalone and Consolidated Financial Results of the Comapny for the quarter and year ended March 31, 2026
INDIGOPNTS · price
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Indigo Paints reported Q4 FY26 revenue of Rs. 397.9 Cr (8.4% YoY growth) and full-year FY26 revenue of Rs. 1,330.1 Cr (4.1% YoY growth). The company maintained industry-leading gross margins at 48.6% in Q4 FY26 despite raw material prices surging 50-100% in March 2026 due to Middle East conflict. EBITDA for FY26 stood at Rs. 246.7 Cr with margins improving to 18.5% from 18.1% in FY25. PAT for FY26 was Rs. 149.8 Cr, up 4% YoY. The company commissioned a water-based plant (90,000 KLPA capacity) at Jodhpur with trial production expected in June 2026, and a sealant plant at Nagpur through subsidiary Apple Chemie which is expected to grow 30%+ in FY27. The board proposed a dividend of Rs. 5 per share versus Rs. 3.5 earlier. Management indicated it is embarking on an aggressive growth path that may moderately affect gross margins while keeping EBITDA margins intact, with no major capex planned till FY29.
The stock shows resilient growth with margin maintenance despite raw material cost pressures. The aggressive growth strategy and new capacity additions suggest management is confident about sustaining double-digit revenue growth, though investors should monitor the impact on gross margins. The dividend increase signals strong cash generation.