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Swing Capital

Berger Paints India Ltd

NSE: BERGEPAINT BSE: 509480

Berger Paints India is engaged in the Manufacturing and selling of Paints.(Source : 201903 Annual Report Page No: 117)

₹523
52W: ₹391 — ₹605
PE 53.8 · Book ₹54.4 · +861% vs book
Market Cap₹60,982 Cr
Stock P/E53.8Price to Earnings
ROCE23.6%Return on Capital
ROE18.9%Return on Equity
Div. Yield0.73%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 41.3%

Weaknesses

  • −Stock is trading at 9.48 times its book value
  • −The company has delivered a poor sales growth of 11.6% over past five years.

Shareholding Pattern

Promoters74.98%
FIIs4.68%
DIIs11.71%
Public8.63%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.99%74.99%74.99%74.99%74.99%74.99%74.98%▼0.074.98%
FIIs7.51%6.98%▼0.55.94%▼1.05.75%▼0.25.59%▼0.25.35%▼0.25.25%▼0.14.68%▼0.6
DIIs7.57%8.77%▲1.29.6%▲0.810.11%▲0.510.45%▲0.310.71%▲0.311.08%▲0.411.71%▲0.6
Public9.93%9.24%▼0.79.47%▲0.29.15%▼0.38.97%▼0.28.95%▼0.08.68%▼0.38.63%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales2,5742,2492,8062,4312,5852,3472,8632,4582,5952,504
Expenses2,1451,9242,3232,0472,1671,9582,3632,1472,1782,045
Operating Profit430325484383417390499311417459
OPM %17%14%17%16%16%17%17%13%16%18%
Net Profit263182306229306237294176298327
EPS ₹2.261.562.621.962.632.032.521.512.562.81

AI Insights

Revenue Trend

Mar 2026 revenue at ₹10,420Cr, up 2.5% YoY. OPM at 16%.

Debt Position

Borrowings at ₹459Cr. Debt-to-equity ratio: 0.07x. Healthy balance sheet.

Capex Cycle

CWIP at ₹260Cr (9% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 11.71% (+7.96pp change). FIIs: 4.68% (-6.15pp change). Promoters hold 74.98%.

Margin & Efficiency

ROCE declining from 28% (Mar 2015) to 24% (Mar 2026). Working capital days: 82.

Valuation

PE 53.8x with 23.6% ROCE. Price is 861% above book value of ₹54.4. Dividend yield: 0.73%.

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