Indigo Paints Key Ratios
NSE: INDIGOPNTS | BSE: 543258
₹1,152.90
As on 31-Aug-2026IST
Market cap
₹5,502 Cr
Revenue (TTM)
₹1,466 Cr
P/E Ratio
34.2
P/B Ratio
4.7
Div. Yield
0.4 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | -12.03 | 18.72 | 8.39 | 7.14 | 12.32 |
| EBIT | -38.67 | 58.71 | 18.82 | 9.51 | 16.47 |
| Net Profit | -26.11 | 60.74 | 15.21 | 4.96 | 17.48 |
| EPS | -26.11 | 60.60 | 12.11 | 3.97 | 13.08 |
| Book Value | -- | -- | 13.10 | 14.98 | 15.64 |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | TTM | Mar-26 | Mar-25 |
| EBIT-Margin
| 14.39 | -- | 14.43 | 13.85 | 13.05 |
| Net Margin
| 11.22 | -- | 11.01 | 10.41 | 10.46 |
| Return on equity
| 15.31 | -- | 14.89 | 13.72 | 14.95 |
| Return on Capital
| 20.42 | -- | -- | 18.37 | 19.92 |
| Return on Assets
| 11.23 | -- | 10.74 | 9.44 | 10.48 |
| Debt to Equity (x)
| -- | -- | 0.00 | 0.00 | 0.01 |
Profitability
ROCE
--
--
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
18.37
|
19.92
|
23.87
|
33.57
|
|
Peer Median
|
--
|
21.71
|
30.37
|
25.47
|
--
|
ROE
14.89
Lower than Peers by 2.07
Profit after tax / Average Net worth * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
14.89
|
13.72
|
14.95
|
17.98
|
29.47
|
|
Peer Median
|
16.96
|
16.52
|
23.51
|
19.63
|
--
|
ROA
10.74
Lower than Peers by 2.49
Profit after tax / Average Total assets * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
10.74
|
9.44
|
10.48
|
12.76
|
20.18
|
|
Peer Median
|
13.23
|
10.76
|
13.77
|
11.02
|
--
|
EBIT Margin
14.43
Higher than Peers by 0.70
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
14.43
|
13.85
|
13.05
|
14.28
|
13.71
|
|
Peer Median
|
13.72
|
13.38
|
13.27
|
14.08
|
--
|
Net Margin
11.01
Lower than Peers by 0.10
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
11.01
|
10.41
|
10.46
|
11.27
|
12.18
|
|
Peer Median
|
11.10
|
11.26
|
13.08
|
10.39
|
--
|
Cash Profit Margin
--
--
(Net profit + Depreciation) / Gross Sales * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
11.73
|
12.16
|
12.69
|
13.20
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Revenue Growth
9.51
Higher than Peers by 6.52
Year on year growth in net sales
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
9.51
|
4.80
|
2.65
|
21.68
|
692.38
|
|
Peer Median
|
2.99
|
7.37
|
2.87
|
5.08
|
--
|
EBIT Growth
22.72
Higher than Peers by 22.31
Year on year growth in operating profit (EBIT)
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
22.72
|
11.20
|
-6.18
|
26.73
|
--
|
|
Peer Median
|
0.41
|
15.06
|
-4.87
|
24.87
|
--
|
Net Profit Growth
15.21
Higher than Peers by 11.93
Year on year growth in profit after tax
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
15.21
|
3.83
|
-4.48
|
12.80
|
2,370.25
|
|
Peer Median
|
3.28
|
20.82
|
-4.55
|
28.26
|
--
|
EPS Growth
12.11
Higher than Peers by 12.61
Year on year growth in earnings per share
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
12.11
|
2.25
|
-3.80
|
11.58
|
1,464.08
|
|
Peer Median
|
-0.50
|
11.00
|
-4.67
|
19.74
|
--
|
Book Value Growth
--
--
Year on year growth in book value per share
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
12.36
|
13.95
|
16.05
|
492.91
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
0.00
--
Total debt / Net worth
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
0.00
|
0.00
|
0.01
|
0.00
|
--
|
|
Peer Median
|
--
|
0.02
|
0.01
|
0.02
|
--
|
Short term debt to equity ratio
--
--
(Short term borrowings / Net worth)
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
--
|
0.00
|
0.00
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
2.21
Lower than Peers by 0.00
Current Assets / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
2.21
|
2.04
|
2.24
|
2.18
|
1.96
|
|
Peer Median
|
2.21
|
2.13
|
2.12
|
2.03
|
--
|
Quick Ratio
1.72
Higher than Peers by 0.14
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
1.72
|
1.63
|
1.76
|
1.59
|
1.52
|
|
Peer Median
|
1.58
|
1.65
|
1.55
|
1.48
|
--
|
Interest Coverage
79.20
Higher than Peers by 28.22
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
79.20
|
68.96
|
55.26
|
94.63
|
114.29
|
|
Peer Median
|
50.98
|
29.29
|
50.64
|
36.86
|
--
|
Operating Efficiency
Debtors to sales
19.48
Higher than Peers by 3.52
Debtors outstanding / Net Sales * 100
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
19.48
|
20.32
|
18.19
|
17.08
|
18.64
|
|
Peer Median
|
15.96
|
17.27
|
15.82
|
15.80
|
--
|
Asset Turnover
0.96
Lower than Peers by 0.14
Sales / Average Total Assets
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
0.96
|
1.13
|
1.22
|
1.35
|
1.93
|
|
Peer Median
|
1.10
|
1.02
|
1.06
|
1.32
|
--
|
Receivable days
--
--
Average Debtors / Sales * 365
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
54.54
|
51.63
|
48.90
|
37.69
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
--
--
Average Inventory / Sales * 365
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
34.18
|
35.84
|
33.31
|
21.30
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
95.85
|
102.31
|
114.24
|
78.83
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
--
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
--
|
-7.13
|
-14.83
|
-32.03
|
-19.84
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
34.19
Lower than Peers by 1.37
Current share price divided by earning per share in the last twelve months
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
34.19
|
23.39
|
31.73
|
40.60
|
36.40
|
|
Peer Median
|
35.56
|
35.56
|
37.80
|
38.29
|
--
|
Price / Book Value
4.66
Lower than Peers by 0.66
Current share price divided by book value per share in the latest financial year
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
4.66
|
2.98
|
4.44
|
6.73
|
6.27
|
|
Peer Median
|
5.32
|
5.32
|
8.06
|
7.94
|
--
|
Dividend Yield
0.43
Lower than Peers by 0.50
Dividend per share in the past twelve months divided by current share price
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
0.43
|
0.70
|
0.37
|
0.28
|
0.35
|
|
Peer Median
|
0.93
|
0.93
|
0.89
|
0.96
|
--
|
EV/EBITDA
18.89
--
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
18.89
|
12.56
|
17.73
|
23.59
|
24.81
|
|
Peer Median
|
--
|
29.62
|
28.18
|
37.76
|
--
|
Market Cap
5,502
Lower than Peers by 9,505
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
TTM
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
|---|---|---|---|---|---|
|
Indigo Paints
|
5,502
|
3,394
|
4,498
|
5,982
|
4,803
|
|
Peer Median
|
15,007
|
15,007
|
17,743
|
16,734
|
--
|