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Consolidated Standalone

Indigo Paints

₹1423.2 -9.9 | 0.7%

Market Cap ₹6779 Cr.

Stock P/E 45.6

P/B 7.2

Current Price ₹1423.2

Book Value ₹ 196.9

Face Value 10

52W High ₹1720

Dividend Yield 0.25%

52W Low ₹ 1253.2

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Initial Coverage: Indigo Paints

Overview Inc. Year: 2000Industry: Paints

Indigo Paints Ltd manufactures and sells decorative paints in India and the world over. It gives indoors and outdoor emulsions, enamels, putties and primers, glossy wooden coatings, and other merchandise. Indigo Paints Ltd became incorporated in 2000 and is situated in Pune, India.

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Indigo Paints Share Price

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Price

Quarterly Price

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Peer Comparison

Indigo Paints Quarterly Results

#(Fig in Cr.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 224 243 281 325 288 279 354 385 311 300
Other Income 0 3 4 3 4 3 3 4 4 5
Total Income 224 246 285 328 292 282 357 389 315 305
Total Expenditure 189 209 241 254 239 237 292 300 264 258
Operating Profit 36 37 44 75 53 45 65 89 52 47
Interest 0 0 0 0 0 1 1 0 1 1
Depreciation 8 8 9 9 10 11 15 16 15 15
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 27 28 35 65 42 33 50 73 36 31
Provision for Tax 7 -9 9 17 11 8 13 18 9 8
Profit After Tax 20 37 26 49 32 25 38 54 27 22
Adjustments -0 -0 0 0 -0 0 -0 -1 -0 0
Profit After Adjustments 20 37 26 49 31 25 37 54 26 23
Adjusted Earnings Per Share 4.2 7.8 5.5 10.2 6.5 5.3 7.8 11.3 5.5 4.8

Indigo Paints Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2023 Mar 2024 TTM
Net Sales 135 1073 1306 1350
Other Income 1 10 14 16
Total Income 137 1083 1320 1366
Total Expenditure 141 892 1068 1114
Operating Profit -4 192 252 253
Interest 1 1 2 3
Depreciation 1 34 52 61
Exceptional Income / Expenses 0 0 0 0
Profit Before Tax -6 156 199 190
Provision for Tax 0 24 50 48
Profit After Tax -6 132 149 141
Adjustments 0 0 -2 -1
Profit After Adjustments -6 132 147 140
Adjusted Earnings Per Share -2 27.7 30.9 29.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 22% 0% 0% 0%
Operating Profit CAGR 31% 0% 0% 0%
PAT CAGR 13% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -3% -12% NA% NA%
ROE Average 18% 14% 14% 14%
ROCE Average 24% 18% 18% 18%

Indigo Paints Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2023 Mar 2024
Shareholder's Funds 132 776 902
Minority's Interest 0 0 0
Borrowings 7 0 2
Other Non-Current Liabilities 2 21 81
Total Current Liabilities 105 264 286
Total Liabilities 246 1062 1270
Fixed Assets 102 265 591
Other Non-Current Assets 7 278 55
Total Current Assets 138 519 625
Total Assets 246 1062 1270

Indigo Paints Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 2 36 47
Cash Flow from Operating Activities 17 116 151
Cash Flow from Investing Activities -123 -84 -152
Cash Flow from Financing Activities 108 -20 -23
Net Cash Inflow / Outflow 2 12 -24
Closing Cash & Cash Equivalent 11 47 33

Indigo Paints Ratios

# Mar 2016 Mar 2023 Mar 2024
Earnings Per Share (Rs) -2.03 27.73 30.94
CEPS(Rs) -1.63 34.94 42.08
DPS(Rs) 0 3.5 3.5
Book NAV/Share(Rs) 45.2 161.02 186.73
Core EBITDA Margin(%) -3.17 14.41 15.07
EBIT Margin(%) -3.16 12.48 12.71
Pre Tax Margin(%) -3.49 12.37 12.57
PAT Margin (%) -3.57 10.47 9.42
Cash Profit Margin (%) -2.87 13.2 12.69
ROA(%) -2.36 20.18 12.76
ROE(%) -4.5 29.47 17.98
ROCE(%) -3.2 33.57 23.87
Receivable days 134.6 37.69 48.9
Inventory Days 65.89 21.3 33.31
Payable days 309.4 78.83 114.24
PER(x) 0 36.4 40.6
Price/Book(x) 0 6.27 6.73
Dividend Yield(%) 0 0.35 0.28
EV/Net Sales(x) 0.16 4.43 4.56
EV/Core EBITDA(x) -5.31 24.81 23.59
Net Sales Growth(%) 0 692.38 21.68
EBIT Growth(%) 0 3150.35 27.63
PAT Growth(%) 0 2370.25 12.8
EPS Growth(%) 0 1464.08 11.58
Debt/Equity(x) 0.22 0 0
Current Ratio(x) 1.31 1.96 2.18
Quick Ratio(x) 1.03 1.52 1.59
Interest Cover(x) -9.7 114.29 94.63
Total Debt/Mcap(x) 0 0 0

Indigo Paints Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 54 54 54 53.98 53.98 53.95 53.94 53.94 53.94 53.92
FII 9.08 8.82 10.19 8.8 8.9 8.75 8.78 7.73 8.28 12.31
DII 3.4 3.06 3.34 3.2 2.88 2.29 1.76 1.96 1.06 16.13
Public 33.52 34.11 32.47 34.02 34.25 35.01 35.52 36.37 36.72 17.64
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 14% over the last 3 years.
  • Debtor days have increased from 78.83 to 114.24days.
  • Stock is trading at 7.2 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.

Indigo Paints News

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