Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 270 | 341 | 366 | 294 | 289 | 327 | 367 | 295 | 298 | 339 | 398 | 350 |
| Expenses | 229 | 280 | 284 | 248 | 246 | 270 | 281 | 251 | 253 | 273 | 306 | 288 |
| Operating Profit | 42 | 61 | 82 | 46 | 43 | 57 | 86 | 44 | 46 | 66 | 92 | 62 |
| OPM % | 15% | 18% | 22% | 16% | 15% | 18% | 23% | 15% | 15% | 19% | 23% | 18% |
| Other Income | 3 | 3 | 4 | 4 | 5 | 3 | 6 | 6 | 3 | -2 | 0 | 10 |
| Interest | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 1 | 1 |
| Depreciation | 10 | 13 | 14 | 14 | 14 | 14 | 12 | 14 | 14 | 14 | 14 | 14 |
| Profit before tax | 34 | 50 | 72 | 35 | 33 | 46 | 78 | 35 | 34 | 49 | 77 | 57 |
| Tax % | 24% | 25% | 26% | 25% | 27% | 21% | 27% | 25% | 25% | 26% | 25% | 26% |
| Net Profit | 26 | 38 | 54 | 26 | 24 | 36 | 57 | 26 | 26 | 36 | 57 | 42 |
| EPS in Rs | 5.49 | 7.92 | 11.24 | 5.56 | 5.06 | 7.65 | 11.95 | 5.53 | 5.35 | 7.58 | 12.03 | 8.89 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 124 | 289 | 411 | 536 | 625 | 723 | 906 | 1,073 | 1,255 | 1,277 | 1,330 | 1,385 |
| Expenses | 130 | 291 | 387 | 481 | 534 | 601 | 770 | 892 | 1,022 | 1,046 | 1,083 | 1,120 |
| Operating Profit | -6 | -2 | 24 | 54 | 91 | 123 | 136 | 182 | 233 | 232 | 247 | 265 |
| OPM % | -4.5% | -0.7% | 6% | 10% | 15% | 17% | 15% | 17% | 19% | 18% | 19% | 19% |
| Other Income | 1 | 1 | -1 | 1 | 2 | 4 | 11 | 10 | 13 | 17 | 6 | 10 |
| Interest | 0 | 3 | 4 | 5 | 6 | 4 | 1 | 1 | 2 | 3 | 2 | 2 |
| Depreciation | 1 | 14 | 17 | 17 | 20 | 24 | 31 | 34 | 46 | 54 | 55 | 56 |
| Profit before tax | -6 | -18 | 2 | 34 | 67 | 98 | 114 | 156 | 198 | 192 | 195 | 217 |
| Tax % | 0% | -10% | -14% | 20% | 29% | 28% | 26% | 15% | 25% | 25% | 26% | |
| Net Profit | -6 | -16 | 3 | 27 | 48 | 71 | 84 | 132 | 149 | 144 | 145 | 161 |
| EPS in Rs | -136.43 | -5.55 | 0.90 | 9.32 | 16.48 | 14.89 | 17.67 | 27.73 | 31.22 | 30.22 | 30.50 | 33.85 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 17% | 13% | 11% | 12% | 16% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 27% | 13% | 7% | 8% | ||
| Compounded Profit Growth | 39% | 16% | 4% | 15% | ||
| Stock Price CAGR | % | -16% | -10% | 1% | ||
| Return on Equity | 15% | 15% | 15% | 13% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.44 | 0.44 | 29 | 29 | 29 | 29 | 48 | 48 | 48 | 48 | 48 | 48 |
| Reserves | 26 | 129 | 69 | 71 | 100 | 150 | 516 | 602 | 729 | 867 | 1,000 | 1,135 |
| Borrowings | 4 | 8 | 52 | 54 | 88 | 75 | 9 | 12 | 12 | 17 | 20 | 18 |
| Other Liabilities | 30 | 58 | 97 | 125 | 156 | 169 | 239 | 258 | 274 | 290 | 290 | 369 |
| Total Liabilities | 61 | 196 | 246 | 279 | 373 | 422 | 811 | 920 | 1,062 | 1,222 | 1,358 | 1,570 |
| Fixed Assets | 12 | 13 | 91 | 95 | 149 | 201 | 249 | 253 | 265 | 548 | 525 | 549 |
| CWIP | 1 | 0 | 2 | 2 | 4 | 1 | 3 | 51 | 251 | 15 | 135 | 220 |
| Investments | 1 | 124 | 16 | 15 | 20 | 21 | 50 | 173 | 132 | 188 | 247 | 320 |
| Other Assets | 46 | 58 | 137 | 167 | 201 | 199 | 509 | 442 | 414 | 471 | 451 | 481 |
| Total Assets | 61 | 196 | 246 | 279 | 373 | 422 | 811 | 920 | 1,062 | 1,222 | 1,358 | 1,570 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -6 | 11 | -26 | 27 | 50 | 72 | 121 | 65 | 116 | 152 | 205 | 211 |
| Cash from Investing Activity | -10 | -123 | 15 | -23 | -62 | -61 | -318 | -69 | -84 | -143 | -175 | -194 |
| Cash from Financing Activity | 16 | 113 | 8 | -4 | 19 | -17 | 236 | -5 | -20 | -24 | -25 | -26 |
| Net Cash Flow | 1 | 1 | -3 | -0 | 7 | -6 | 39 | -9 | 12 | -15 | 4 | -9 |
| Free Cash Flow | -6 | 11 | -34 | 2 | -12 | 11 | 55 | -56 | -81 | 51 | 72 | 79 |
| CFO/OP | 74% | -206% | 1,325% | 113% | 101% | 93% | 112% | 67% | 77% | 90% | 102% | 109% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 105 | 97 | 99 | 92 | 71 | 61 | 61 | 69 | 68 | 59 | 63 | 71 |
| Inventory Days | 90 | 89 | 107 | 81 | 85 | 87 | 92 | 84 | 72 | 93 | 80 | 89 |
| Days Payable | 212 | 219 | 190 | 170 | 167 | 157 | 180 | 143 | 122 | 123 | 88 | 103 |
| Cash Conversion Cycle | -17 | -33 | 16 | 2 | -11 | -9 | -27 | 10 | 18 | 29 | 54 | 57 |
| Working Capital Days | 34 | -27 | 9 | 6 | -9 | -0 | 3 | 22 | 25 | 37 | 35 | 28 |
| ROCE % | -25% | -7% | -10% | 5% | 21% | 31% | 25% | 19% | 22% | 23% | 20% | 18% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 53.95% | 53.94% | 53.94% | 53.94% | 53.93% | 53.93% | 53.93% | 53.93% | 53.88% | 53.88% | 53.88% | 53.88% |
| FIIs | 8.75% | 8.77% | 7.73% | 8.28% | 12.31% | 12.50% | 12.41% | 11.71% | 11.81% | 11.21% | 7.42% | 5.73% |
| DIIs | 2.29% | 1.77% | 1.96% | 1.07% | 16.14% | 17.06% | 16.74% | 19.29% | 19.68% | 21.13% | 23.00% | 25.25% |
| Public | 35.00% | 35.54% | 36.37% | 36.73% | 17.64% | 16.52% | 16.93% | 15.09% | 14.64% | 13.80% | 15.72% | 15.16% |
| No. of Shareholders | 1,36,982 | 1,40,003 | 1,43,588 | 1,45,181 | 1,49,623 | 1,56,800 | 1,58,925 | 1,59,977 | 1,53,100 | 1,42,630 | 1,44,361 | 1,39,467 |
Fundamentals
Market Cap₹ 5,163 Cr.
Current Price₹ 1,079
Stock P/E31.2
Book Value₹ 248
ROCE17.9 %
ROE13.4 %
Dividend Yield0.46 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)8%
Compounded Profit Growth (TTM)15%
Standalone figures.
Valuation
Market capRs 5,023 Cr
Enterprise valueRs 5,012 Cr
P/E (TTM)31.12x
Price to book4.25x
Price to sales3.63x
EV / EBITDA18.19x
EV / EBIT22.85x
EV / sales3.62x
Price to cash flow23.76x
Earnings yield3.21%
Dividend yield0.47%
P/E, 3-year average31.59x
P/B, 3-year average4.56x
P/E, 5-year average44.40x
P/B, 5-year average6.33x
Profitability
Operating margin (excl. other income)18.55%
Operating margin (incl. other income)19.03%
EBITDA margin19.89%
Pre-tax margin15.67%
Net profit margin11.65%
Net margin, latest quarter12.10%
ROE13.04%
ROCE17.43%
ROA9.93%
ROE, 3-year average15.09%
ROCE, 3-year average20.07%
ROA, 3-year average11.37%
ROE, 5-year average15.53%
ROCE, 5-year average20.12%
ROA, 5-year average11.43%
ROIC (approx.)13.94%
Tax rate25.54%
Other income / net worth0.54%
Growth
Sales growth (latest year)4.14%
Profit growth (latest year)1.01%
Sales CAGR, 3 years7.41%
Sales CAGR, 5 years12.96%
Profit CAGR, 3 years3.29%
Profit CAGR, 5 years15.46%
Sales growth QoQ-12.03%
Profit growth QoQ-26.11%
Sales growth YoY (latest quarter)18.72%
Profit growth YoY (latest quarter)60.74%
Per share
EPS (TTM)Rs 33.85
EPS (latest year)Rs 30.50
EPS (latest quarter)Rs 8.89
EPS, 3-year averageRs 30.64
EPS, 5-year averageRs 27.46
Book value per shareRs 248.00
Sales per shareRs 290.57
Cash flow per shareRs 44.34
Free cash flow per shareRs 16.57
Dividend per share (latest year)Rs 5.00
Dividend per share, 3-year averageRs 4.00
Dividend per share, 5-year averageRs 3.70
Dividends
Dividend payout16.40%
Dividend payout, 3-year average13.06%
Dividend payout, 5-year average13.76%
Efficiency
Asset turnover0.85x
Fixed asset turnover2.42x
Inventory turnover4.91x
Inventory days74 days
Debtor days71 days
Debtors turnover5.17x
Creditor days103 days
Cash conversion cycle57 days
Working capital days28 days
Leverage
Total debtRs 18 Cr
Cash and bankRs 29 Cr
Net debtRs -10 Cr
Debt to equity0.02x
Net debt / EBITDA-0.04x
Interest coverage92.96x
Current ratio (filing 2026-03-31)2.23x
Quick ratio (filing 2026-03-31)1.72x
Trade payables (filing 2026-03-31)Rs 199 Cr
Owners' fund to total sources75.31%
Debt to assets1.17%
Cash flow
Cash from Operating Activity (latest year)Rs 211 Cr
Cash from Investing Activity (latest year)Rs -194 Cr
Cash from Financing Activity (latest year)Rs -26 Cr
Net Cash Flow (latest year)Rs -9 Cr
Free cash flow (latest year)Rs 79 Cr
FCFE (approx.: FCF + change in debt)Rs 78 Cr
Cash from ops / profit, 5 years1.15x
Sales to cash flow6.29x
Statement figures
Net sales (TTM)Rs 1,385 Cr
Net sales (latest year)Rs 1,330 Cr
Sales (latest quarter)Rs 350 Cr
Operating profit excl. other income (latest year)Rs 247 Cr
Operating profit (latest quarter)Rs 62 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 276 Cr
PBDT (TTM)Rs 273 Cr
Profit before tax (TTM)Rs 217 Cr
Tax (latest year)Rs 50 Cr
Net profit (TTM)Rs 161 Cr
Net profit (latest year)Rs 145 Cr
Net profit (latest quarter)Rs 42 Cr
Depreciation (TTM)Rs 56 Cr
Depreciation (latest quarter)Rs 14 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 850 Cr
Total expenditure (latest year)Rs 1,083 Cr
Total income (latest year)Rs 1,336 Cr
Share capitalRs 48 Cr
ReservesRs 1,135 Cr
Shareholders' fundsRs 1,182 Cr
Total assetsRs 1,570 Cr
Net blockRs 549 Cr
Capital work in progressRs 220 Cr
InvestmentsRs 320 Cr
ReceivablesRs 257 Cr
InventoryRs 173 Cr
Other liabilitiesRs 369 Cr
Shares outstanding (crore)4.77
Ownership
Promoter holding53.88% (-0.05 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 31.1 is at the 4th percentile of its own 5.8-year range
(median 52.2, low 23.4, high 251.5).
P/B 4.25 is at the 4th percentile (median 8.57).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | INDIGOPNTS | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.8% | -2.8% | -3.0 pts |
| 1 month | -10.1% | -6.8% | -3.3 pts |
| 3 months | -1.2% | -7.6% | +6.5 pts |
| 6 months | +48.2% | +0.4% | +47.8 pts |
| 1 year | -4.1% | -9.9% | +5.8 pts |
| 2 years | -28.9% | -13.6% | -15.4 pts |
| 3 years | -29.1% | +14.2% | -43.3 pts |
| 5 years | -58.3% | +27.9% | -86.2 pts |
38 mutual fund schemes hold about ₹1,281 Cr.
Over three months 31 bought more and 3 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| HDFC Small Cap Fund | 1.03% | 433 | +37% |
| Nippon India Small Cap Fund | 0.18% | 153 | -44% |
| Kotak Multi Cap Fund | 0.40% | 118 | +6% |
| Nippon India Multi Cap Fund | 0.19% | 105 | +16% |
| Nippon India Value Fund | 0.83% | 75 | +14% |
| DSP Flexi Cap Fund | 0.55% | 68 | +13% |
| DSP Equity Savings Fund(M | 1.37% | 45 | +22% |
| WOC Flexi Cap Fund | 0.48% | 44 | +3% |
| Kotak Special Opportunities Fund | 2.50% | 43 | -1% |
| DSP Multi Cap Fund | 1.33% | 40 | +22% |
| Edelweiss Small Cap Fund | 0.54% | 39 | +95% |
| WOC Multi Cap Fund | 0.61% | 25 | +1% |
| Kotak Consumption Fund | 1.00% | 17 | +14% |
| Altiva Equity Ex-Top 100 Long-Short Fund | 1.16% | 11 | +38% |
| WOC Multi Asset Allocation Fund | 0.11% | 10 | +1% |
| Bajaj Finserv Consumption Fund | 1.48% | 9 | +38% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.27% | 7 | +7% |
| WOC Balanced Advantage Fund | 0.28% | 7 | +10% |
| WOC Quality Equity Fund | 0.94% | 6 | +15% |
| Tata Children's Fund | 1.74% | 6 | +16% |
| HDFC Large & Mid Cap Fund | 0.01% | 5 | +8% |
| WOC Consumption Opportunities Fund | 2.39% | 3 | +48% |
| Mirae Asset Small Cap Fund | 0.06% | 3 | +100% |
| WOC ELSS Tax Saver Fund | 0.56% | 3 | +7% |
| Bajaj Finserv ELSS-Tax Saver Fund | 2.41% | 2 | +9% |
Red flags
F-score 6 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹350 Cr +18.6% vs Jun 2025.
Net profit ₹42 Cr +61.5%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Asian Paints Ltd | 231,646 | 47.5 | 26.3 % |
| Berger Paints India Ltd | 52,260 | 42.6 | 21.6 % |
| Kansai Nerolac Paints Ltd | 14,667 | 22.8 | 12.0 % |
| JSW Dulux Ltd | 13,819 | 36.0 | 22.7 % |
| Sirca Paints India Ltd | 2,320 | 34.6 | 20.3 % |
| Shalimar Paints Ltd | 652 | -7.93 % | |
| Kamdhenu Ventures Ltd | 134 | 2.23 % | |
| Siddhika Coatings Ltd | 129 | 13.4 | 31.9 % |
| Retina Paints Ltd | 56 | 87.8 | 5.20 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-04 | Dividend - Rs 5 Per Share | |
| 2025-08-22 | Dividend - Rs 3.50 Per Share | |
| 2024-08-02 | Dividend - Rs 3.50 Per Share | |
| 2024-08-02 | Annual General Meeting | |
| 2023-07-28 | Annual General Meeting/Dividend - Rs 3.50 Per Share | |
| 2022-08-25 | Dividend - Rs 3 Per Share |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Indigo Paints Ltd?
Indigo Paints Ltd (INDIGOPNTS) has a market capitalisation of Rs 5,163 Cr. at the 2026-10-01 close.
What is the P/E ratio of Indigo Paints Ltd?
Indigo Paints Ltd trades at a P/E of 31.2 on trailing twelve-month profit, at the 2026-10-01 close.
What were Indigo Paints Ltd's latest quarterly results?
In the Jun 2026 quarter, Indigo Paints Ltd sales was Rs 350 Cr (+18.6% vs Jun 2025) and net profit was Rs 42 Cr.
What is the 52-week high and low of Indigo Paints Ltd?
The 52-week high is Rs 1,345.90 and the 52-week low is Rs 708.05.