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Indigo Paints Limited Q3 FY26 earnings call summary

NSE: INDIGOPNTS · BSE: 543258

Earnings call of 16 Feb 2026, summarised by AI from the filing.

Indigo Paints Q3 FY26 standalone revenue ₹338.9 cr, up 3.5%, with EBITDA margin at 19.4%; management expects close to double-digit growth in Q4 FY26.

Key takeaways

  1. Guidance Management is hopeful of close to double-digit growth in Q4 FY26 and expects to return to 20% growth sometime next fiscal if demand comes back properly.
  2. Demand change After two years of muted demand, the company delivered double-digit value growth for three months in a row since November 2025.
  3. Main risk Jodhpur plant commissioning will add depreciation, affecting PAT though not EBITDA, and demand recovery remains uncertain.

Original filing on BSE

Indigo Paints Limited Q1 FY27 results

As filed: Revenue ₹370 cr (+20% year on year), EBITDA ₹62.0 cr (+38% year on year), PAT ₹41.7 cr (+60% year on year), EBITDA margin 16.8% (+221 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹425 cr (+10% year on year), EBITDA ₹95.6 cr (+9% year on year), PAT ₹59.2 cr (+4% year on year), EBITDA margin 22.5% (−21 bps). Score 66 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA and profit growth were above it. EBITDA margin fell 21 bps year on year. Share price after the results: +2.2% in 28 days (Nifty 500: +2.2%).
  • Q3 FY26: Revenue ₹359 cr (+5% year on year), EBITDA ₹68.3 cr (+18% year on year), PAT ₹37.1 cr (+25% year on year), EBITDA margin 19.1% (+214 bps). Score 81 of 100, Above trend. Revenue growth was above the company's own trend; EBITDA and profit before exceptional items growth were well above it. EBITDA margin rose 214 bps year on year. Share price after the results: −19.1% in 28 days (Nifty 500: −8.2%).
  • Q2 FY26: Revenue ₹312 cr (+4% year on year), EBITDA ₹47.0 cr (+12% year on year), PAT ₹25.0 cr (+14% year on year), EBITDA margin 15.1% (+106 bps). Score 77 of 100, Above trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 106 bps year on year. Profit fell 4% from last quarter. Share price after the results: +24.7% in 29 days (Nifty 500: +1.4%).
  • Q1 FY26: Revenue ₹309 cr (−1% year on year), EBITDA ₹45.0 cr (−6% year on year), PAT ₹26.0 cr (−4% year on year), EBITDA margin 14.6% (−87 bps). Score 34 of 100, Below trend. Revenue and profit growth were below the company's own trend; EBITDA growth was well below it. EBITDA margin fell 87 bps year on year. Revenue fell 20% from last quarter. Share price after the results: −5.3% in 29 days (Nifty 500: +0.6%).
  • Q4 FY25: Revenue ₹388 cr (+1% year on year), EBITDA ₹88.0 cr (+4% year on year), PAT ₹57.0 cr (+6% year on year), EBITDA margin 22.7% (+60 bps). Score 38 of 100, Below trend. EBITDA margin rose 60 bps year on year. Not enough history for a trend yet: scored on growth alone. Share price after the results: +12.5% in 30 days (Nifty 500: +1.0%).
  • Q3 FY25: Revenue ₹343 cr (−3% year on year), EBITDA ₹58.0 cr (−8% year on year), PAT ₹36.0 cr (−5% year on year), EBITDA margin 16.9% (−89 bps). Score 25 of 100, Below trend. EBITDA margin fell 89 bps year on year. Not enough history for a trend yet: scored on growth alone.
  • Q2 FY25: Revenue ₹300 cr (+8% year on year), EBITDA ₹42.0 cr (0% year on year), PAT ₹22.0 cr (−12% year on year), EBITDA margin 14.0% (−105 bps). Score 33 of 100, Below trend. EBITDA margin fell 105 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 4% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Indigo Paints Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.