Indigo Paints Ltd

Indigo Paints Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indigo Paints Ltd

₹ 1,431 2.00%
03 Dec - close price
indigopaints.com BSE: 543258 NSE: INDIGOPNTS
About

Incorporated in 2000, Indigo Paints Ltd manufactures and sells decorative paints[1]

Key Points

Leading Paint Company
The company is a leading paint company in India that produces a wide range of decorative paints. [1] It is the first company to introduce category-creator products like Metallic Emulsions, Tile Coat Emulsions, etc in the decorative paint market in India. [2] The company has ~80%-90% market share in some of its differentiated products. [3]

Website BSE NSE
  • Market Cap ₹ 6,821 Cr.
  • Current Price ₹ 1,431
  • High / Low ₹ 1,720 / 1,250
  • Stock P/E 48.1
  • Book Value ₹ 200
  • Dividend Yield 0.24 %
  • ROCE 23.2 %
  • ROE 17.5 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 40.4% CAGR over last 5 years

Cons

  • Stock is trading at 7.16 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Paints/Varnish Industry: Paints / Varnishes

Part of BSE 400 MidSmallCap Index BSE 500 Nifty Total Market Nifty Microcap 250 BSE 250 SmallCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
196 265 288 224 243 281 325 277 270 341 366 294 289
173 227 235 189 209 241 254 229 229 280 284 248 246
Operating Profit 23 39 54 35 34 41 72 48 42 61 82 46 43
OPM % 12% 15% 19% 16% 14% 14% 22% 17% 15% 18% 22% 16% 15%
3 2 3 0 3 4 3 4 3 3 4 4 5
Interest 0 0 1 0 0 0 0 0 0 0 0 1 1
Depreciation 8 8 8 8 8 9 9 9 10 13 14 14 14
Profit before tax 18 33 47 27 28 35 65 42 34 50 72 35 33
Tax % 27% 26% 27% 26% -31% 26% 26% 26% 24% 25% 26% 25% 27%
14 24 35 20 37 26 49 31 26 38 54 26 24
EPS in Rs 2.85 5.11 7.27 4.19 7.80 5.52 10.23 6.58 5.49 7.92 11.24 5.56 5.06
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
47 64 90 124 289 411 536 625 723 906 1,073 1,255 1,290
44 61 97 130 291 387 481 534 601 770 892 1,022 1,058
Operating Profit 3 3 -7 -6 -2 24 54 91 123 136 182 233 232
OPM % 6% 5% -8% -4% -1% 6% 10% 15% 17% 15% 17% 19% 18%
0 0 2 1 1 -1 1 2 4 11 10 13 16
Interest 1 2 1 0 3 4 5 6 4 1 1 2 2
Depreciation 1 1 1 1 14 17 17 20 24 31 34 46 55
Profit before tax 1 1 -7 -6 -18 2 34 67 98 114 156 198 190
Tax % 32% 40% 0% 0% -10% -14% 20% 29% 28% 26% 15% 25%
1 0 -7 -6 -16 3 27 48 71 84 132 149 142
EPS in Rs 13.19 8.19 -158.03 -136.43 -5.55 0.90 9.32 16.48 14.89 17.67 27.73 31.22 29.78
Dividend Payout % 8% 12% 0% 0% 0% 0% 0% 0% 0% 17% 13% 11%
Compounded Sales Growth
10 Years: 35%
5 Years: 19%
3 Years: 20%
TTM: 12%
Compounded Profit Growth
10 Years: 83%
5 Years: 40%
3 Years: 28%
TTM: 7%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -13%
1 Year: -6%
Return on Equity
10 Years: 16%
5 Years: 18%
3 Years: 17%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 0.44 0.44 0.44 0.44 29 29 29 29 48 48 48 48 48
Reserves 4 4 26 129 69 71 100 150 516 602 729 867 905
11 14 4 8 52 54 88 75 9 12 12 17 20
11 16 30 58 97 125 156 169 239 258 274 290 266
Total Liabilities 26 35 61 196 246 279 373 422 811 920 1,062 1,222 1,239
5 10 12 13 91 95 149 201 249 253 265 548 570
CWIP 0 0 1 0 2 2 4 1 3 51 251 15 64
Investments 0 0 1 124 16 15 20 21 50 173 132 188 178
21 25 46 58 137 167 201 199 509 442 414 471 427
Total Assets 26 35 61 196 246 279 373 422 811 920 1,062 1,222 1,239

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 4 -6 11 -26 27 50 72 121 65 116 152
0 -5 -10 -123 15 -23 -62 -61 -318 -69 -84 -143
0 2 16 113 8 -4 19 -17 236 -5 -20 -24
Net Cash Flow 0 0 1 1 -3 -0 7 -6 39 -9 12 -15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 95 87 105 97 99 92 71 61 61 69 68 59
Inventory Days 101 94 90 89 107 81 85 87 92 84 72 93
Days Payable 138 146 212 219 190 170 167 157 180 143 122 123
Cash Conversion Cycle 57 34 -17 -33 16 2 -11 -9 -27 10 18 29
Working Capital Days 70 45 34 -27 41 26 10 10 5 24 27 39
ROCE % 17% 13% -25% -7% -10% 5% 21% 31% 25% 19% 22% 23%

Shareholding Pattern

Numbers in percentages

39 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
54.00% 54.00% 54.00% 54.00% 54.00% 53.98% 53.98% 53.95% 53.94% 53.94% 53.94% 53.93%
10.92% 8.94% 9.08% 8.82% 10.19% 8.80% 8.90% 8.75% 8.77% 7.73% 8.28% 12.31%
2.63% 3.61% 3.40% 3.07% 3.34% 3.20% 2.88% 2.29% 1.77% 1.96% 1.07% 16.14%
32.45% 33.46% 33.52% 34.10% 32.47% 33.99% 34.23% 35.00% 35.54% 36.37% 36.73% 17.64%
No. of Shareholders 79,13586,83586,80894,1581,12,2181,22,7851,21,9861,36,9821,40,0031,43,5881,45,1811,49,623

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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