Indigo Paints Peer Comparison

NSE: INDIGOPNTS | BSE: 543258

₹1,012.90

₹-14.40 (-1.40%)

As on 28-Oct-2026IST

Market cap

₹4,828 Cr

Revenue (TTM)

₹1,466 Cr

P/E Ratio

P/B Ratio

4.1

Div. Yield

0.5 %

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	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Market cap (₹ Cr)	4,828	14,633	12,571	2,351	682
Revenue (₹ Cr)	1,466	8,263	3,591	508	541
Net Profit (₹ Cr)	163.25	588.66	1,962.50	67.02	-87.85
Net Margin (%)	11.01	7.00	52.95	13.05	-16.15
RoE (%)	14.89	9.81	16.31	14.60	-36.93
Price to Earnings	30.00	24.38	6.41	35.08	--
Price-To-Book	4.09	2.11	4.97	4.78	5.70

Income Statement (₹ Cr)

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Operating Revenue	1,385.31	8,263.47	3,590.90	508.25	540.65
Total Income	1,401.66	8,411.74	3,706.00	513.51	543.96
Total Expenditure	1,120.25	7,263.65	3,101.80	407.94	584.30
EBITDA	265.06	999.82	489.10	100.32	-43.65
Depreciation	56.16	238.01	77.40	10.96	20.45
EBIT	208.90	761.81	411.70	89.36	-64.10
Interest	2.37	32.95	12.00	4.60	22.90
Other Income	16.34	148.27	115.10	5.26	3.31
Exceptional Items	-5.85	-63.15	1,845.90	0.00	-4.60
Profit before Tax	217.02	813.98	2,360.70	90.02	-88.29
Provision for Tax	55.63	225.32	398.20	23.00	-0.44
Profit after Tax	161.40	588.66	1,962.50	67.02	-87.85

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Shareholder's Funds	1,182.35	6,713.78	2,451.60	475.12	199.73
Minority Interest	0.00	11.48	0.00	0.00	0.00
Non-Current Liabilities	44.67	365.11	200.50	39.45	26.46
Current Liabilities	342.92	1,657.15	1,143.20	74.37	403.85
Total Liabilities	--	8,711.11	5,600.50	610.41	642.62

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Non-Current Assets	740.95	2,317.67	1,561.30	180.16	195.11
Current Assets	763.17	5,773.67	1,787.10	387.39	292.37
Total Assets	--	8,711.11	5,600.50	610.41	642.62
Total Debt*	--	82.68	0.00	32.32	157.03
Net Current Assets	420.25	4,116.52	643.90	313.02	-111.48
Contingent Liabilities	--	44.79	53.70	--	39.17

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Cash From Operating Activities	--	894.37	93.20	44.41	23.35
Cash Flow from Investing Activities	--	-382.65	803.70	-69.75	-0.52
Cash from Financing Activities	--	-403.30	-875.40	38.83	-24.71
Net Cash Inflow / Outflow	--	108.42	21.50	13.50	-1.88

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
ROCE (%)	--	12.44	125.82	20.28	-12.18
ROE (%)	14.61	9.81	16.31	14.60	-36.93
ROA (%)	11.03	6.95	58.59	12.89	-13.33
EBIT Margin (%)	15.08	9.22	11.47	17.58	-11.86
Net Margin (%)	11.51	7.00	52.95	13.05	-16.15
Cash Profit Margin (%)	0.00	0.00	0.00	0.00	0.00

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Revenue Growth (%)	8.39	5.24	-11.12	24.19	-12.11
EBIT Growth (%)	18.82	7.39	-21.01	30.96	-16.61
Net Profit Growth (%)	12.21	-46.49	383.49	26.33	-34.27
EPS Growth (%)	15.11	3.47	-5.42	21.92	-27.24
Book Value Growth (%)	--	4.53	84.38	35.92	-30.80

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Price / Earnings	29.10	22.61	3.27	35.08	-8.19
Price / Book Value	3.99	2.11	4.97	4.78	5.70
Dividend Yield (%)	0.49	1.38	7.46	0.48	0.00
EV/EBITDA	16.97	12.13	25.04	22.68	-18.14
Market Cap (₹ Cr)	--	13,509.49	12,925.09	2,280.50	302.15

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Debt to Equity	0.00	0.00	0.00	0.05	0.08
Short term debt to equity ratio	--	0.01	--	--	0.62
Current Ratio	2.23	3.48	1.56	5.21	0.72
Quick Ratio	1.72	2.56	1.06	3.72	0.44
Interest Coverage	92.61	25.70	197.73	20.57	-2.86

	Indigo Paints	Kansai Nerolac	JSW Dulux	SIRCA Paints India	Shalimar Paints
Debtors to sales (%)	18.57	17.76	16.79	30.55	22.55
Asset Turnover	0.95	0.98	1.07	0.98	0.82
Receivable days	--	57.19	60.23	92.10	79.33
Inventory Days	--	64.70	59.62	81.02	65.67
Payable days	--	79.48	144.42	63.38	173.97
Cash Conversion Cycle	--	42.40	-24.57	109.74	-28.96

*TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.