Berger Paints (I) Limited (BERGEPAINT)

Consumer Durables · Consumer Durables · NSE · Updated 3 August 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹526.55 ↓ 7.12% (1Y)

🎯 Key Takeaways

Berger Paints (I) Limited is navigating a transitional phase marked by declining profitability and margin pressure over the past year, despite stable revenue trends. The company recently recommended a high dividend payout while facing softening operational performance, suggesting a focus on shareholder returns amid mixed financial execution.
Revenue grew 7.2% QoQ to ₹2,975 in Q3FY25.
⚠️ Persistent margin pressure despite revenue stability, with operating profit declining in sequential quarters.

Market Cap

₹62,200

P/E Ratio

54.5

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Berger Paints (I) Limited is navigating a transitional phase marked by declining profitability and margin pressure over the past year, despite stable revenue trends. The company recently recommended a high dividend payout while facing softening operational performance, suggesting a focus on shareholder returns amid mixed financial execution. Management appears committed to long-term positioning through sustainability and expansion initiatives, but near-term earnings momentum remains subdued.

📰 What's Happening

In Q3FY25, revenue rose to ₹2,975 crores from ₹2,775 crores in Q2FY25, but operating profit declined to ₹492 crores from ₹455 crores, indicating margin compression. The company announced its 102nd AGM on 12 August 2026, recommending a dividend of Rs. 4 per share (400% yield) for FY2025-26, payable on 21 August 2026. The Integrated Report for FY2025-26, to be discussed at the AGM, highlights expansion in Eastern India, product innovation, and sustainability initiatives aligned with the International <IR> Framework. Shareholders will vote on director reappointments and dividend approval during the virtual meeting.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	2,444	3,030	2,767	2,882	2,520	3,091	2,775	2,975
Operating Profit	384	570	493	500	367	559	455	492
OPM %	15.1%	18.4%	17.1%	16.7%	13.9%	16.9%	15.7%	15.9%
Net Profit	186	355	292	300	223	354	270	296
EPS	₹1.91	₹3.65	₹2.50	₹2.57	₹1.91	₹3.03	₹2.31	₹2.53

Operating performance has shown volatility over the past eight quarters, with Q1FY25 delivering strong margins (16.9% OPM) and NP of ₹354 crores, followed by a sharp decline in Q4FY24 to ₹223 crores NP and 13.9% OPM. While Q3FY25 showed improvement in revenue and profit compared to Q2FY25, margins (15.9%) and profitability (₹296 crores NP) remain below year-ago levels. This inconsistency suggests operational headwinds despite revenue stability, with management yet to provide a detailed explanation for the margin decline in recent commentary.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue or margin expectations in the latest filings. However, the Integrated Report for FY2025-26 references 'future growth strategies' tied to geographic expansion in Eastern India, product innovation, and sustainability, indicating a strategic focus on long-term resilience rather than short-term performance. The recommended dividend reflects confidence in cash flow generation, but the lack of updated earnings guidance suggests caution in near-term outlook.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Consumer Durables

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Titan Company Limited	3.70 L Cr	77.6	34.3%	41.0%	0.88
Asian Paints Limited	2.50 L Cr	65.0	26.0%	19.8%	0.04
LG Electronics India Limited	1.07 L Cr	—	—	—	—
Havells India Limited	75,873	54.2	—	—	—
Dixon Technologies (India) Limited	66,754	75.9	—	—	—
Berger Paints (I) Limited	62,200	54.5	—	—	—
Voltas Limited	40,722	56.8	—	—	—
Kalyan Jewellers India Limited	36,461	54.6	—	—	—
Blue Star Limited	34,091	61.2	—	—	—
Amber Enterprises India Limited	29,854	164.3	8.4%	4.1%	0.62

🔗 Peer Stock Analyses

TITAN ASIANPAINT LGEINDIA HAVELLS DIXON

⚠️ Risk Factors

1. Persistent margin pressure despite revenue stability, with operating profit declining in sequential quarters. 2. High dividend payout may strain financial flexibility if profitability remains inconsistent. 3. Limited visibility into growth drivers beyond vague references to Eastern India expansion and product innovation. 4. No forward guidance provided, leaving investors without clarity on earnings trajectory.

📋 Recent Filings

🧠 Analyst's Read

Berger Paints is in a phase of strategic transition with mixed financial execution — showing revenue resilience but facing margin and profitability challenges. While shareholder-friendly policies continue, the lack of clear growth momentum or operational improvement requires close monitoring of future earnings and management's ability to deliver on expansion and innovation promises.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-03.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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