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Swing Capital

Indigo Paints Ltd

NSE: INDIGOPNTS BSE: 543258

Indigo Paints Ltd (INDIGOPNTS) is a Diversified company listed on NSE: INDIGOPNTS | BSE: 543258. With a market cap of ₹4,577 Cr and ROCE of 19.5%, ROE of 14.6%, it operates in the Indian Diversified sector.

₹960
52W: ₹702 — ₹1346
PE 30.7 · Book ₹228 · +321% vs book
Market Cap₹4,577 Cr
Stock P/E30.7Price to Earnings
ROCE19.5%Return on Capital
ROE14.6%Return on Equity
Div. Yield0.37%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 24.7% CAGR over last 5 years

Shareholding Pattern

Promoters53.88%
FIIs7.42%
DIIs23%
Public15.72%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters53.94%53.93%▼0.053.93%53.93%53.93%53.88%▼0.053.88%53.88%
FIIs8.28%12.31%▲4.012.5%▲0.212.41%▼0.111.71%▼0.711.81%▲0.111.21%▼0.67.42%▼3.8
DIIs1.07%16.14%▲15.117.06%▲0.916.74%▼0.319.29%▲2.619.68%▲0.421.13%▲1.423%▲1.9
Public36.73%17.64%▼19.116.52%▼1.116.93%▲0.415.09%▼1.814.64%▼0.413.8%▼0.815.72%▲1.9

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales270341366294289327367295298339
Expenses229280284248246270281251253273
Operating Profit42618246435786444666
OPM %15%18%22%16%15%18%23%15%15%19%
Net Profit26385426243657262636
EPS ₹5.497.9211.245.565.067.6511.955.535.357.58

AI Insights

Revenue Trend

TTM revenue at ₹1,299Cr, up 1.7% YoY. OPM at 19%.

Debt Position

Borrowings at ₹18Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.

Capex Cycle

CWIP at ₹219Cr (41% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 23% (+20.12pp change). FIIs: 7.42% (-1.48pp change). Promoters hold 53.88%.

Margin & Efficiency

ROCE improving from 13% (Mar 2014) to 20% (Mar 2025). Working capital days: 35.

Valuation

PE 30.7x with 19.5% ROCE. Price is 321% above book value of ₹228. Dividend yield: 0.37%.

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